Jefferies reaffirms buy rating for AVGO, sets target price at $550.

According to Lookonchain's monitoring, BlackRock's address deposited 4,984.56 Bitcoin (valued at approximately $295 million) and 30,725 Ethereum (valued at approximately $48.58 million) into a Coinbase Prime address, totaling around $344 million.

The UK Financial Conduct Authority (FCA) has released its "landmark" final crypto asset regulations, completing years of work to build a regulatory framework. Trading platforms, custodians, stablecoin issuers, and staking service providers must obtain FCA authorization to operate in the UK. Companies can apply for authorization between September 30, 2026, and February 28, 2027, while the mandatory regulatory regime will take effect on October 25, 2027. The rules cover capital and stress testing requirements, market integrity provisions to combat insider trading and market manipulation, and dedicated stablecoin standards. Trading platforms bear gatekeeping responsibilities, requiring them to vet tokens and publish disclosure documents in the FCA’s central database before listing. Crypto firms will be brought under the FCA’s consumer protection framework, giving retail customers access to the Financial Ombudsman Service for the first time. The regulatory scope also extends to decentralized finance (DeFi), applying to cases where an "identifiable controlling entity" exists. Following consultations, the FCA simplified some rules, including cutting the capital requirements for stablecoin issuers (the key capital ratio was reduced from 2% to 1%). David Geale, FCA Executive Director for Payments and Digital Finance, stated that the framework allows firms to avoid choosing between regulatory certainty and room for innovation. Industry groups have generally welcomed the new rules, noting they provide a clearer development path for the UK as a competitive jurisdiction.

Nasdaq-listed crypto asset management firm Solana Company has signed a memorandum of understanding (MOU) with Kazakhstan’s Alatau City to assist in developing the city’s blockchain and cryptocurrency infrastructure. The partnership stems from a June roadshow held in Shenzhen and Hong Kong, during which 30 cooperation agreements were already secured, with total potential investment exceeding $6 billion. The collaboration will span four key areas: digital asset custody, blockchain infrastructure, acceleration of institutional adoption, and platform development. Solana Company will also participate in constructing the Alatau Crypto Industrial Cluster, a special economic zone pilot that allows daily cryptocurrency transactions. Notably, Kazakhstan previously partnered with the Solana Foundation to establish Central Asia’s first Solana Economic Zone in the capital, Astana. Last week, a Kazakh exchange launched the country’s first Solana ETF. Alatau City is part of Kazakh President Kassym-Jomart Tokayev’s smart city vision, proposed in May 2024, which encompasses low-altitude aircraft, robot taxis, and a hydrogen-driven economy. However, the project faces real challenges: Kazakhstan’s central bank and financial regulators have raised concerns over the constitutional amendments required to underpin the crypto economy, while independent media reports indicate local residents still grapple with shortages of gas, water, electricity, and internet access.

According to Hyperinsight’s monitoring, as SpaceX is added to the Russell 1000 Index today, it is just 7 days away from its official inclusion in the Nasdaq 100 Index on July 7. The market expects this index adjustment to bring around $4.3 billion in passive allocation funds. On Hyperliquid, SPCX (SpaceX) has risen 3.6% over the past 24 hours, currently trading at $163, with a 24-hour trading volume of approximately $230 million and open interest of $199 million. Overall, million-dollar-level large positions in SPCX on Hyperliquid are net bearish: nominal short positions stand at roughly $70.9 million, while long positions total $49.15 million, making short positions 1.44 times larger than longs. The average entry price for these large short positions is around $167.7, with the latest liquidation price at approximately $193.1. Notably, the current largest short whale opened a short position with 2x leverage about 5 days ago, holding positions worth roughly $11 million at an average entry price of $155.5. As SPCX continues to rebound, its unrealized loss has expanded to around $452,000. Meanwhile, funds have begun positioning in advance for the index inclusion rally. Today, an address starting with 0xe4c opened a new $3.26 million long position in SPCX with 8x isolated leverage, at an average entry price of $160.5 and liquidation price of $144. As of press time, this position has gained about 13% in unrealized profit, representing the largest new long position added recently.

According to market reports, SK Hynix has submitted an application for listing on the Nasdaq. On June 24, SK Hynix announced plans to raise up to 45 trillion won (approximately 290 billion US dollars) via an American Depositary Receipt (ADR) offering. The ADRs will be listed in July, and the proceeds will be used to build a factory in South Korea and purchase EUV equipment.

Morgan Stanley raises Google's price target from $375 to $415.