Report: Rug Pull Incidents in the Crypto Space Have Decreased, but Their Impact Has Grown

According to CME’s FedWatch tool data, the probability that the Federal Reserve will keep interest rates unchanged in July is currently 65.8%, while the probability of a 25 basis point rate hike stands at 34.2%.

Baird analyst Ben Kallo forecasts that Tesla (TSLA.O) is expected to deliver 392,900 vehicles in the second quarter. He added that the electric vehicle maker’s total deliveries will reach 1.68 million units in 2026. The analyst wrote: "We believe a merger between SpaceX (SPCX.O) and Tesla is highly likely, and we expect it will take 12 to 18 months to complete." He also noted that the merger of the two companies is the "ultimate direction" and "clear and compelling, as both firms will benefit from greater scale." Kallo reiterated his "Outperform" rating on Tesla and set a price target of $522.

According to Coinglass data, global crypto market liquidations reached $650 million over the past 24 hours, including $585 million in long position liquidations and $65.16 million in short position liquidations.

According to HyperInsight monitoring, the address of crypto figure "Big Brother Ma Ji" (real name Huang Licheng) has seen its long positions liquidated seven times over the past 10 hours, yet he continues to add to his long ETH positions. He currently holds 1,100 ETH with 25x leverage, at an average entry price of $1,690.02, posting an unrealized loss of $36,000.

According to a New York Times report, prediction market platforms Polymarket and Kalshi have become some of the fastest-growing platforms on the internet, allowing users to predict the outcomes of various events, ranging from Super Bowl results to the length of U.S. State of the Union addresses. Now, Mark Zuckerberg has taken notice of this trend and aims to enter the space. Two employees with knowledge of the matter revealed that Meta CEO Zuckerberg recently assembled a small team to develop a smartphone app similar to Polymarket and Kalshi. However, real-money betting will not be available to users in the initial phase; the app may use a video game-like points system for predictions and rankings, though the company has not ruled out the possibility of introducing real-money wagering features in the future. Internally codenamed "Arena", the app will operate independently of Meta’s existing social products, including Facebook, Instagram, WhatsApp, and Messenger. Insiders said Meta plans to leverage its massive social network user base to drive traffic to Arena and encourage user adoption of the product. Internal sources noted that the project is still in the experimental stage but has been classified as one of the company’s key initiatives, part of Zuckerberg’s strategy to explore new social behaviors and product formats. Currently, Meta’s total daily active users across its apps exceed 3.56 billion, and the market has begun questioning whether user growth on its core social platforms is approaching a ceiling.

According to a report in The New York Times, Mark Zuckerberg has instructed Meta to develop a prediction market application.