A whale shorted 1,588 BTC with 20x leverage, liquidated at a price of $63,939.37

June 6: SonicDAO co-founder Andre Cronje shared that during a sharp market pullback on derivatives platform FT (FlyingTulip), the protocol’s equity-based account borrowing model only saw roughly $50,000 in total liquidation volume. The platform’s use of net risk calculations (instead of a standard loan-to-value, or LTV, framework) paired with a soft liquidation mechanism meant the average liquidation per position was just $200 to $2,000. Cronje emphasized that under a traditional LTV-based lending system, liquidation volume during that same market turbulence would have been 10 to 20 times larger. He explained that the equity-based account model enables risk netting and cuts down on market impact through soft liquidations, delivering a borrowing experience that’s safer, less volatile, and involves smaller discounts compared to traditional alternatives.

June 6 (Forbes) – While financing for the traditional cloud security space is cooling, the AI security track is emerging as a top target for investors in 2025. Data shows only 15 cloud security firms secured funding last year, compared to 144 rounds for AI security-related startups – making this sub-market the most active in cybersecurity overall. Analysts note investors aren’t betting on AI applications themselves; instead, they’re focused on the sustainable operational costs tied to AI use, including core infrastructure needs like compliance, identity management, verification, and governance. This type of spending acts like a utility: even if an AI project falls short of expected returns, companies still have to cover these mandatory security and regulatory expenses. A high-profile example underscores this trend: Google’s $3.2 billion acquisition of cloud security firm Wiz this year marks its largest purchase in history. Wiz hit over $1 billion in annual recurring revenue (ARR) in

On June 6, Iran’s Tasnim News Agency reported that Kazem Gharibabadi, Iran’s deputy foreign minister for legal and international affairs, has stated that any memorandum of understanding (MOU) signed with the United States must include an immediate unfreezing of at least 50% of Iran’s frozen assets. Gharibabadi emphasized that Tehran will only accept a final draft agreement if it fully addresses Iran’s interests and concerns. He added that Iran insists the minimum 50% of these funds be released right after the MOU is signed, with the remaining assets to be unfrozen within one to two months of the deal taking effect. These assets, per Gharibabadi, were illegally frozen by the U.S.—making their release a core, non-negotiable requirement for any potential understanding. He noted that technical and financial details related to the remaining unfreezing process will be further negotiated during the 60-day implementation period following the MOU’s signing.

On June 6, despite market chatter that some retail investors might offload Bitcoin to participate in SpaceX’s landmark $75 billion IPO, stablecoin flow data and on-chain metrics indicate no signs of large-scale fund exodus from the crypto sector. SpaceX’s IPO is valued at roughly $1.8 trillion, with up to 30% of shares allocated to retail investors via platforms including Robinhood, Fidelity, and Charles Schwab—far higher than the standard 10% individual investor allocation for traditional IPOs. Since the roadshow kicked off, subscription demand has outstripped the offering’s size. Data reveals USDT and USDC outflows have stayed within normal bounds since February, with no signs of abnormal redemptions or supply contraction. Conversely, on June 6, roughly 66,470 BTC and 2.49 million ETH saw net outflows from exchanges: a sign more investors are moving assets to private wallets, pointing to a buy-the-dip trend rather than mass cashing out. That said, on-chain data does not capture tr

June 6 (BlockBeats) — As SpaceX prepares for its upcoming initial public offering (IPO) with a projected valuation of roughly $1.75 trillion, Elon Musk has crafted a potential $1.1 trillion compensation package for himself—one that also adjusts the company’s governance structure and state of incorporation to make it far more difficult for future shareholders to challenge this plan. Per SpaceX’s latest prospectus, Musk’s 1.3 billion Class B super-voting shares are currently valued at approximately $175 billion. If all performance targets are met, however, the value of these shares could surge to $1.1 trillion. The incentive plan requires SpaceX to reach a maximum valuation of $7.5 trillion, with milestones including building a Mars colony with a population of 1 million and constructing a data center capable of 100 terawatts of annual computing power. Notably, this differs from Tesla’s $56 billion compensation plan in 2018, which was overturned by a Delaware court. SpaceX has since mov

June 6 — U.S. President Donald Trump has spent the past 24 hours delivering a flurry of public remarks covering topics including the economy, monetary policy, the Middle East, and artificial intelligence. On the economic front, Trump called the May U.S. non-farm payrolls data "very strong," arguing robust growth doesn’t have to translate to inflation and that the stock market should have risen instead of falling. He renewed his push for an interest rate cut, but noted he would leave the decision on whether to lower rates at the October Federal Reserve meeting to the new Fed Chair, Wash. Regarding the Middle East, Trump said he aims to quickly wrap up U.S. military operations against Iran to ease upward pressure on energy and fertilizer prices. While no accord has been reached with Tehran, he claimed Iran has "no choice" but to strike a deal. Trump also asserted the U.S. has significantly degraded Iran’s missile and drone capabilities, estimating that Iran’s remaining missile inventor