Linera Launches Babbage Testnet

June 7 — Former Goldman Sachs analyst Dom Kwok is sounding a sharp cautionary note ahead of SpaceX’s upcoming initial public offering (IPO), pointing to what he calls a string of “coincidental” shifts in the days leading up to the listing. Kwok flagged three key developments: The U.S. Pattern Day Trading (PDT) rule has been rolled back, scrapping the prior $25,000 minimum account balance requirement for retail traders looking to day trade freely. Fidelity has drastically cut the minimum account threshold to join SpaceX’s IPO, dropping it from $500,000 to just $2,000. And underwriting banks revealed they will allocate up to 30% of SpaceX’s shares (traded under ticker SPCX) to retail investors during the IPO — a massive jump from the usual 5% earmarked for regular retail participation. “This isn’t a coincidence,” Kwok stated unequivocally. “Retail investors are being positioned to provide liquidity for a $2 trillion IPO.” Kwok added he will not be investing in SpaceX right now, opting

June 7 — U.S. media outlet Politico conducted a manual classification analysis of over 800 posts and retweets from Donald Trump’s Truth Social platform in May, uncovering core recurring themes in his online activity. The most frequent topic Trump discussed centered on reshaping the Republican Party: this included endorsements for his “Trump-aligned GOP,” victory celebrations, and attacks on internal party rivals. Trailing closely behind was the extensive beautification of Washington, D.C., mentioned 80 times — a count that outpaced references to election integrity (29 times), immigration policy (11 times), and posts tied to urban crime. On May 20, Trump wrote on the platform: “Washington is being awakened to show its beauty, elegance, and charm... The grandest will be the National Mall Reflecting Pool — 2,500 feet long, nearly 200 feet wide, the largest of its kind in history.” The Iran war remained a high-frequency topic with 68 mentions, though posts here repeatedly focused on ensu

June 7. DeFi yield protocol PiggyBank announced that roughly a month ago, it executed a $100,000 over-the-counter (OTC) purchase of LAB at a discounted price, making up 2% of its portfolio at the time. Following the LAB investment, the protocol employed a delta neutral strategy to open a short position. However, extreme price manipulation and liquidity constraints kept the funding rate negative, leading to continuous losses on the short position. PiggyBank noted it plans to close the short position to cap further losses. Currently, the LAB holdings held by the protocol are valued at approximately $1.35 million, but due to insufficient liquidity, the protocol intends to exclude this value from its net worth calculation. As a result, users may face short-term net worth declines across its various Vaults.

June 7 — The Islamic Republic News Agency (IRNA) reports that Iran’s First Vice President Eshaq Jahangiri says all senior Iranian officials are fully aligned with the country’s negotiation strategy, pushing back against claims of disagreements over the negotiation text or proposals. Jahangiri stressed Tehran is taking a clear, coordinated approach to the ongoing talks, stating: “Iran has crafted a clear strategy for these negotiations, and all officials are executing it in perfect sync.” He added there are no splits among officials regarding the negotiation text or proposals. The vice president’s remarks come amid indirect, ongoing talks between Iran and the U.S., aimed at permanently ending the wars the U.S. and Israel have waged against Iran. Jahangiri also highlighted Iran’s experience navigating those two conflicts, noting the country has gained valuable crisis management lessons from its time dealing with them.

June 7 – NVIDIA CEO Jensen Huang held back-to-back meetings with Krafton founder and Chairman Chang Byung-gyu and NCsoft’s Kim Jae-hyun at internet cafes in Seoul’s Gangnam District, South Korea’s Yonhap News Agency reported. During his meeting with Krafton, Huang and Chang are believed to have discussed topics including humanoid robots, physical AI, and gaming industry collaboration, tied to NVIDIA’s recent launch of its first AI laptop series, the RTX Spark. After the Krafton meeting, Huang headed to a nearby internet cafe to meet with Kim and NCsoft’s senior management. There, he greeted local gamers and got a firsthand look at NCsoft’s new game Aion 2. NVIDIA is providing Aion 2 with cutting-edge graphics technology, including its DLSS deep rendering tool. Huang and Kim also hosted a live “Flash” stream, where they discussed the future direction of the gaming industry and AI technology development.

June 7: Yesterday, the crypto "contract whale" account "Ten Big Goals First" revealed a 4x leverage long position on Bitcoin. Screenshots confirm the entry price was $60,153.8, with a position size of 2,835.32 BTC, totaling $170 million. According to HTX market data, Bitcoin has since surged above $62,000. Analyst "Ai Auntie" estimates that if this position remains open, its unrealized profit now stands at $5.881 million.