SBF Officially Applies for Pardon from Trump
June 8 — FTX co-founder Sam Bankman-Fried (SBF) has officially submitted a pardon application to U.S. President Trump, seeking to overturn his 25-year prison sentence stemming from the FTX fraud case, Bloomberg reports.
SBF had previously repeatedly voiced his desire for a presidential pardon while actively pursuing his appeal process.
Earlier this year, Trump stated he had no plans to pardon SBF, a stance the White House echoed. Now that the formal application has been filed, the process has entered a new phase.
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「White-Haired Stock God」 Serenity: JPMorgan Chase Increases Stake in Sivers, Signaling Institutional Funds Entering
June 8 — The widely followed self-proclaimed "White-Haired Stock Guru" Serenity pointed out that the market may have underestimated the significance of JPMorgan Chase’s disclosure of holding a stake exceeding 5.25% in Sivers (ticker: $SIVE). He noted that the $135 million investment is not sizable for a major U.S. financial institution, but Sivers’ limited outstanding shares mean institutional players are gradually absorbing positions from retail investors.
Serenity added that JPMorgan’s entry sends a clear signal to other institutional investors that large funds are accumulating Sivers’ circulating shares — a move that could draw more institutional capital to the stock. Furthermore, given Sivers’ high short interest in its floating shares, short-selling firms — including some Swedish hedge funds and quant trading shops — may face significant short covering pressure (a dynamic that could trigger a short squeeze).
This event once again validates the investment logic of "retail investo
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Several Wall Street institutions have stated that the bullish case for the US stock market remains intact, with Goldman Sachs and Citigroup continuing to be optimistic about the outlook.
June 8 — Fueled by stronger-than-expected non-farm payroll data, expectations that the Federal Reserve will raise interest rates this year have climbed sharply, triggering a 4.2% plunge in the Nasdaq last Friday. The semiconductor sector led the sell-off, sparking volatility across global markets. But Wall Street heavyweights including Morgan Stanley and Citigroup frame this pullback as a healthy adjustment, not a signal that the U.S. bull market is ending.
Morgan Stanley’s Chief U.S. Stock Strategist Mike Wilson blames the recent sell-off on outsized gains in semiconductor stocks and overcrowded trading positions in the sector. The Philadelphia Semiconductor Index has rallied nearly 96% year-to-date, a jump that far outpaces historical norms and puts the group firmly in overbought territory. Wilson says the current correction will help cool excess market sentiment, but insists it won’t erode the underlying strength of the U.S. economy or corporate earnings fundamentals.
Wilson cites
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The US House of Representatives focused on cryptocurrency tax reform this week, while the Senate continued to advance the Clarity Act.
As of June 8, while the U.S. Senate continues hammering out details of the Digital Asset Market Clarity Act, the U.S. House of Representatives is shifting its focus to crypto tax reform this week. The House Ways and Means Committee will host a hearing Tuesday, inviting representatives from Fidelity, Coinbase, Coin Center, and New York University to discuss seven digital asset tax proposals.
These proposals split the previously introduced Digital Asset PARITY Act—sponsored by Representatives Max Miller and Steven Horsford—into seven standalone bills covering distinct areas: stablecoin transactions, crypto mining and staking, lending, wash sale rules, charitable giving, and taxpayer information disclosure.
Industry groups including The Digital Chamber, Blockchain Association, and Crypto Council for Innovation back this split, arguing breaking legislation into smaller chunks boosts its passage odds. Still, some industry insiders hold reservations about specific terms within the bills.
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Analysis: The United States is more willing to push for a deal than Iran, as Iran enters a "neither war nor peace" phase
June 8: Discussing the latest developments in the Middle East, Dr. Pineford, a lecturer in international security at King’s College London, observed that as tensions in the Strait of Hormuz stabilize, Iran appears to be gradually entering what analysts call a "neither war nor peace" state.
Pineford noted: "Right now, Iran’s attitude is relatively steady, and they’re in no hurry to return to the negotiating table to push for sanctions relief."
He added that compared to Iran, the U.S. seems far more eager to secure a deal—despite occasional tough remarks from Trump. "There’s a clear contrast in Trump’s messaging," Pineford said. "On one hand, he frequently makes forceful statements about restarting wars, destroying civilizations, and the like; on the other, he tweets that an agreement is within reach."
Meanwhile, when addressing Israeli Prime Minister Netanyahu’s decision-making logic, Pineford pointed out that Netanyahu needs to prove Israel is taking a tough stance against Hez
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