The US ADP Employment Change for May was 122,000, compared to an expected 117,000 and a previous value of 109,000.

June 3 Update: Changjiang Securities announced a temporary suspension on Tuesday of new securities account openings and additional position entries across all product lines in mainland China, limiting clients to only sell or close existing positions during the ban period. This move comes weeks after the China Securities Regulatory Commission (CSRC), China’s top securities watchdog, announced on May 22 that three firms — Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong) Limited and Changjiang Securities (Hong Kong) Limited — conducted illegal cross-border business activities that violated Chinese securities, fund and futures laws, disrupted market order, and must be resolutely cracked down upon. The CSRC stated it intends to seize all illegal gains of these firms and their related domestic and overseas entities, and impose severe legal penalties in accordance with relevant regulations.

On June 3rd, Tether partnered with Fasset to launch the world’s first gold-backed Visa debit card. The card lets users spend fiat at any global Visa merchant, with eligible transactions earning up to 6% cashback in XAUT—Tether’s gold-backed token. It also supports real-time conversion between XAUT, USDT, and fiat currencies, plus an auto-round-up feature that turns spare change from purchases into XAUT investments, making passive gold accumulation effortless through everyday spending. Tether has committed up to $1 million worth of XAUT for ecosystem rewards to boost adoption of tokenized gold in emerging markets. The total market capitalization of tokenized gold now exceeds $5.3 billion, with XAUT accounting for more than $2.6 billion of that figure.

June 3 Update: According to Bitget market data, Navitas (NVTS) expanded its pre-market trading gains to over 28%, with the stock price topping $31 and market capitalization exceeding $7.2 billion. Navitas is included in NVIDIA’s AI Factory full-industry chain stock pool. The company recently announced its official entry into the NVIDIA MGX AI Factory ecosystem, where it will deliver high-efficiency power solutions for NVIDIA’s next-generation AI servers and rack-level platforms. Leveraging Gallium Nitride (GaN) and Silicon Carbide (SiC) power device technology, Navitas focuses on supporting NVIDIA’s 800VDC high-voltage direct current (DC) distribution architecture. This architecture significantly boosts power conversion efficiency, cuts energy consumption, and increases power density—enabling AI data centers to achieve higher performance while lowering operating costs.

June 3rd: Leading crypto and AI investment firm Variant announced it has closed its Variant 4 fundraising, hitting a total size of $222 million. The fund will continue to focus on early-stage investments and provide long-term support to its portfolio companies, with a core investment theme centered on “AI + Crypto + Autonomy.” Variant founder Jesse Walden stated that the traditional “crypto investor” label will gradually disappear, as the industry shifts toward a unified broader theme of “autonomy.” This encompasses any application that grants users greater sovereignty—such as decentralized finance (DeFi), cryptocurrency, and AI agents. Walden added that cryptography will serve as foundational infrastructure, and its decentralized principles will gain renewed relevance in the AI era, particularly in the intersection of AI agents and blockchain technology. Previously, Variant’s first three funds focused solely on the pure crypto track, with high-profile investments in well-known projec

June 3 – Payward, the parent company of cryptocurrency exchange Kraken, announced it will launch a new channel in the coming weeks allowing Kraken users and customers of partner platforms to subscribe to U.S. public company initial public offerings (IPOs) at the official IPO price through its xStocks framework. Users can submit non-binding subscription intentions ahead of the target listing date. Payward will aggregate this demand, coordinate with the relevant underwriting syndicate, and allocate tokenized stock shares to qualifying participants at the IPO price on the day the shares start trading. Each associated stock token is backed on a 1:1 basis by its underlying regulated stocks, and can circulate on blockchains including Ethereum, Solana, and TON.

June 3: The so-called "Stock God" Serenity has published a post reviewing his bullish high-position call on AI infrastructure firm Nebius (ticker: NBIS), stating that NBIS is his "most confident pick in the Neocloud sector." The stock has rallied from roughly $84 last year to its current price of $260, with its sector judgment already validated by the market. Serenity reaffirmed that NBIS ranks first in the Neocloud segment, outperforming competitors such as IREN and CRWV. Back last November, when NBIS traded at around $86, Serenity released a detailed analysis identifying the company as "the purest asymmetric opportunity in the Neocloud and AI infrastructure space," noting it boasts the highest revenue target in the Neocloud sector. He highlighted that NBIS avoids critical pain points of its rivals: unlike IREN and ORCL, it faces no lingering uncertainties around full-stack execution; unlike CRWV and APLD, it carries no heavy high-interest debt load; and unlike CLSK, BITF and other p