BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

On June 4, Coinbase announced the launch of Pre-IPO perpetual contract products, giving eligible non-U.S. users exposure to pre-listed company valuations. The first offering is the SpaceX Pre-IPO perpetual contract. This product settles in USDC, supports 24/7 trading, has no expiration date or rollover requirements, and lets users open or close positions at any time—just like standard perpetual contracts. Once SpaceX completes its IPO, existing positions will automatically convert to regular SpaceX perpetuals, with no extra steps needed from users, ensuring continuous price exposure from the private market to the public market. Coinbase noted it plans to roll out more Pre-IPO perpetual contracts in the future, covering sectors including technology, AI, energy, and aerospace. The initiative aims to lower barriers for global investors looking to participate in pre-listed company price discovery. At the same time, Coinbase cautioned that these Pre-IPO perpetual contracts use a valuatio

On June 4, SpaceX announced it will launch its highly-anticipated initial public offering (IPO) later this month. The aerospace and space company plans to issue 5.56 billion shares at $135 each, targeting a maximum fundraising of $750 billion. This values SpaceX at roughly $1.77 trillion—surpassing the $26 billion IPO record set by Saudi Aramco in 2019, making it poised to become the largest IPO in history. Per the latest prospectus, Elon Musk holds 5.22 billion Class B shares and retains 82.4% of SpaceX’s voting rights. At the current valuation, his personal wealth is projected to rise by about $223 billion, pushing his net worth above $1 trillion, making him the world’s first "trillionaire." Financial data shows SpaceX generated $18.7 billion in revenue last year, but posted an operating loss of $2.6 billion. These losses have continued to widen since the start of this year. The company plans to use IPO proceeds to expand its AI and rocket business infrastructure, as well as fund t

June 4: The key driver of global asset prices isn’t whether a U.S.-Iran war will break out anymore—it’s the new inflationary pressure spurred by the conflict, new tariffs, and the AI investment frenzy. Per the latest Federal Reserve Beige Book and official comments, the U.S. economy is showing a classic “two-sided economy” dynamic. On one side: May’s private-sector payrolls rose by 122,000, AI data center construction remains robust, Alphabet upped its fundraising to $84.75 billion, and SpaceX’s valuation is nearing $1.8 trillion—signaling corporate and tech capital expenditure is holding steady. On the flip side: consumer confidence has plumbed historic lows, real wages are starting to shrink, low- and middle-income household spending is sharply softening, and some companies are delaying parts of their investment plans. The market’s real focus should be the shifting inflation structure. U.S. core inflation is now at 3.8%, topping the Fed’s 2% target—and this round’s drivers are very

June 4: According to AI Checky—HYPE’s largest external entity—crypto firm a16z added 155,321 HYPE tokens over the past 14 hours, worth $11.126 million. Year-to-date 2026, a16z has accumulated a total of 6.754 million HYPE tokens, with an aggregate value exceeding $312 million. The firm’s average purchase price per token stands at $46.24, translating to an unrealized gain of $141 million at current valuations.

June 4th — According to Bitget market data, WTI crude oil fell below $96 per barrel, dropping 2.03% intraday. Brent crude oil retreated to below $95 per barrel, down 2.36% in intraday trading.

June 4 — Jess Asato, a UK Labour Party Member of Parliament, has filed a lawsuit in the UK High Court against Elon Musk’s AI startup xAI, alleging its Grok chatbot was used to generate deepfake pornographic and sexually explicit content involving her. Asato states that after she publicly criticized Grok in January, users exploited the model to create and spread fake images of her in a bikini, plus a deepfake video depicting a sexual assault scenario. She argues this capability to produce such content was not an abuse of the tool, but a deliberate design choice by xAI. The lawsuit cites the UK’s Data Protection Act and laws against misuse of private information. Beyond seeking financial damages, Asato aims to set a legal precedent holding AI companies accountable for their model’s design, and push tech firms to strengthen their security protocols. Earlier, following public backlash, xAI announced it would ban Grok users from generating sexually explicit images of real people. In the