US Stock Market Hits Pre-market Record Highs for the "Four Asian Tigers"
According to Bitget market data, the U.S. stock storage sector rallied in pre-market trading on June 16th. Micron Technology (MU) rose 3.49%, SanDisk (SNDK) gained 2.53%, Western Digital (WDC) surged 9.56%, and Seagate Technology (STX) climbed 6.9%—all stocks of the so-called "Four Little Dragons" reached record highs.
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HYPE Surpasses $76 to Hit an All-Time High, Surging Over 12% in 24 Hours
June 16 market update: Per HTX’s latest data, HYPE briefly spiked above $76 to hit a brand-new all-time high, logging a more than 12% gain over the past 24 hours. It’s currently trading at $75.70. Additional performance metrics: a 31.87% increase in the last 7 days, and a 69.53% rise over the past 30 days.
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Ventuals has incurred a cumulative loss of approximately $260,000 over the seven months of operation, and the Pre-IPO On-Chain Private Sale Market experiment has come to a close
June 16: Ventuals announced yesterday it’s officially shutting down and merging into another team under the Hyperliquid ecosystem, putting an end to its "24/7 On-Chain Private Sale Market" experiment.
Per BlockBeats’ data analysis (using DeFiLlama’s revenue calculations), Ventuals’ platform revenue totaled just $124,651, while ticker registration and auction fees hit $383,242 (equivalent to 15,031 HYPE tokens). The platform posted a net loss of $258,591, with revenue covering only 32.5% of ticker costs—meaning costs ran roughly 3.1x higher than revenue. Factoring in hidden expenses like team salaries, liquidity provisions, and front-end operations, actual losses will be even larger, with a core projected loss of about $259,000.
Notably, the 500,000 HYPE tokens raised through vHYPE crowdfunding and their price appreciation gains aren’t counted as part of the platform’s profits. Holders can redeem HYPE at a 1:1 ratio plus on-chain staking rewards, so these funds don’t qualify as platfo
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Robinhood announced a 10% workforce reduction, expecting to incur approximately $28 million in restructuring charges
June 16 – Online brokerage Robinhood (HOOD) announced Tuesday it will cut approximately 10% of its full-time staff and halt the hiring process for a small number of open roles. The company expects the layoffs will result in about $20 million in employee severance and benefits costs, plus roughly $8 million in stock-based compensation expenses, bringing total restructuring charges to approximately $28 million. These costs will be recognized in the second quarter of 2026. In pre-market trading right after the announcement, Robinhood’s stock rose 1.3%.
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SpaceX will acquire the parent company of Cursor, valuing the equity at $60 billion.
June 16 — SpaceX (SPCX.O) is set to acquire Silicon Valley-based AI software startup Anysphere through a merger, according to a filing with the U.S. Securities and Exchange Commission (SEC). The deal values Anysphere at $60 billion. Globally renowned, Anysphere is best known for creating Cursor, the popular AI-native code editor.
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Organization: Fed Stands Pat This Week, Powell's Hawkish Tilt in Focus
June 16 – Capital Economics is virtually certain the Federal Reserve will hold off on raising interest rates at its upcoming policy meeting this week. The firm’s chief North American economist, Stephen Brown, notes Fed Chair Jerome Powell isn’t expected to unveil updated interest rate forecasts during the gathering, but is almost guaranteed to field questions about his rate outlook at the post-meeting press conference.
Brown warned the market faces a key risk here: Powell’s comments could come across as more hawkish than investors are bracing for. That might stem from communication missteps, or simply because his current stance is less dovish than it was when he was in the running to be nominated by the Trump administration as Fed Chair.
But Brown also flagged another potential pitfall: If Powell is seen as being constrained by the Trump White House, an overly dovish tone could rekindle worries about the Fed’s political independence and push long-term Treasury yields higher. He added
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