Sonic Labs: Partial Unclaimed Token Distribution to Occur After the Conclusion of Season One Audit
On June 7th, Sonic Labs made an announcement that the airdrop distribution of the S Token will not be confined to a single season. Once the airdrop review of the first season comes to an end, the undisclosed part, which is approximately 19.05 million S Tokens out of the total airdrop, will be eligible for claiming.
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In the past 24 hours, there has been a total of $127 million in liquidations across the network, resulting in a double whammy for both longs and shorts.
On June 7th, based on Coinglass data, the total liquidation within the past 24 hours reached $127 million. The total long liquidations were $59.077 million, and the total short liquidations were $67.636 million.
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Musk Deletes Tweet About 'Trump Appears in Epstein Files'
On June 7th, Musk deleted his tweet that was related to "Trump appearing in Epstein's files."
Previously, Musk tweeted, "The big short is approaching:
Trump is present in Epstein's file. This is the genuine reason why these files have not been made public. Have a great day, DJT!"
BlockBeats Note: Epstein was accused of sex trafficking and sexually abusing minors. He was alleged to have operated a sex trafficking network involving celebrities, billionaires, and politicians. He "committed suicide" in prison in 2019, and the cause of his death remains controversial, giving rise to a large number of conspiracy theories.
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Next Week's Macro Outlook: Will CPI "Ignite" the Market and Shatter Rate Cut Hopes?
On June 7th, the following is the schedule for the release of key macroeconomic data next week:
On Monday at 22:00, the US April Wholesale Sales Month-on-Month;
On Monday at 23:00, the US May New York Fed 1-Year Inflation Expectation;
On Wednesday at 20:30, the US May CPI Data;
On Wednesday at 22:30, the US EIA Crude Oil Inventories as of June 6th, Cushing Crude Oil Inventories, and Strategic Petroleum Reserve Inventories;
On Thursday at 20:30, the US Initial Jobless Claims as of June 7th, the US May PPI;
On Friday at 22:00, the US June 1-Year Inflation Rate Expectation Preliminary Value, the US June University of Michigan Consumer Sentiment Index Preliminary Value.
The US May CPI report to be released next Wednesday will test the market's optimism about interest rate cuts as it may show a halt to the recent downward trend in inflation. According to the forecast of the Cleveland Fed's Nowcast model, the overall CPI in May is expected to grow by 2.4% year-on-year, which is higher than
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BiyaPay Analyst: Musk's Fallout with Trump Triggers Market Turbulence, Tesla's Market Cap Plunges by $150 Billion
June 7th. Musk's relationship with the US President Trump has deteriorated entirely. The two have recently engaged in a war of words on social media. Musk stated, "If it weren't for himself, Trump would never have become president." In response, Trump said that Musk "has gone mad."
The catalyst for this conflict was Musk's public opposition to the Trump administration's proposed "Big and Beautiful Act." He stated that the act would increase the fiscal deficit, especially by reducing the tax credit for electric vehicles, which would be very harmful to Tesla. As their relationship became public, Tesla's stock price became the biggest victim in the market. Investors sold off stocks in large numbers due to concerns about Tesla's future prospects.
On June 5th, Tesla's stock price plummeted by more than 17% during the day and finally closed down by more than 14%, resulting in a market capitalization loss of more than $150 billion. This event attracted the attention of BiyaPay users. They p
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