The ruling party in Japan has proposed establishing a cryptocurrency ETF trading framework and promoting the development of a Japanese Yen stablecoin.
June 1 — According to a Reuters report, the blockchain promotion team of Japan’s ruling Liberal Democratic Party (LDP) has submitted a policy proposal to Finance Minister Taro Aso, pushing for a dedicated legal framework for cryptocurrency exchange-traded funds (ETFs) and advocating for wider adoption of yen-backed stablecoins.
The proposal notes that crypto ETFs would give investors a more accessible channel to gain exposure to the digital asset market, without requiring them to directly purchase and custody cryptocurrencies.
This April, Japan’s cabinet approved a draft bill amendment to reclassify cryptocurrency from its current status as a payment instrument to a financial product — a move that paves the way for future regulatory framework adjustments.
Should the relevant policies be implemented, Japan will join major markets including the U.S. and Hong Kong, allowing investors to participate in the crypto market through ETFs.
Separately, Japan’s government and industry groups a
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Micron Technology Stock Hits All-Time High, Reaching $1036.8
June 1: Per Bitget market data, Micron Technology’s stock hit an all-time record high, reaching $1,036.8. Arm (ARM.O) extended its early trading gains to over 16%, with its total market capitalization topping $430 billion.
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Iran Pauses Indirect Talks with U.S. and Threatens to Block Strait of Hormuz
June 1. Iran’s semi-official Tasnim news agency reported that Iran has decided to suspend all indirect talks and text exchanges with the United States via intermediaries, citing Israel’s recent escalation of military operations in Lebanon and the Gaza Strip.
The outlet said Tehran is demanding Israel immediately halt its military actions in Gaza and Lebanon and fully withdraw from all occupied Lebanese territory before any negotiations can resume, adding Iran will not restart talks until those conditions are met.
Separately, Iran and the so-called “Resistance Front” have reportedly resolved to completely block the Strait of Hormuz, and have warned they could open additional fronts—including the Strait of Mandeb—as retaliatory steps.
In the wake of the announcement, global oil prices spiked sharply during trading hours: both West Texas Intermediate (WTI) and Brent crude rose more than 4% at their peak, the U.S. Dollar Index hit a daily high, and U.S. Treasury prices declined.
Irania
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Virgin Galactic Soars 23% at Market Open, Extending Last Week's Strong Performance
June 1st, Bitget market data shows Virgin Galactic (SPCE) opened with a 23% surge, following a 36% rally last Friday to push its short-term gains over 200%. The key drivers behind this move are as follows:
- SpaceX IPO Hype: Reports of a SpaceX IPO at an enormous valuation have been swirling in recent sessions. Retail investors are treating SPCE as a de facto "SpaceX concept stock," sparking a meme-driven buying spree.
- Company-Specific Catalyst: The VSS Unity spacecraft recently completed a successful glide test, clearing the path for commercial space trips in 2026. This marks a major milestone for Virgin Galactic, which had been grounded for two full years prior to this test.
- Frenzied Trading Activity: Last Friday, SPCE’s trading volume spiked to nearly 180 million shares—well above its daily average. Retail investor enthusiasm has reached a fever pitch, fueling the recent price surge.
As a reminder, Virgin Galactic is the only publicly traded pure-play commercial space tourism c
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A new address withdrew 126,739 HYPE from a CEX, worth approximately $9.33 million
June 1 – According to Lookonchain’s monitoring, a newly formed wallet (0x6436) withdrew 126,739 HYPE tokens from exchanges including Bybit, OKX, Kraken and Gate just 30 minutes ago, with an estimated value of approximately $9.33 million.
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MSTR Plunges 9% at Market Open, Major U.S. Stock Indexes Start Lower, NVIDIA Up 2.7%
June 1st: Per Bitget’s market data, major U.S. stock indexes opened lower today amid fresh developments in the Middle East. The Dow Jones Industrial Average slipped 0.3%, the S&P 500 fell 0.2%, and the Nasdaq Composite declined 0.19%. Nvidia (NVDA.O) rose 2.7% and Microsoft (MSFT.O) gained 3%—the two tech giants jointly launched the Arm-based RTX Spark PC chip, marking Nvidia’s official entry into the personal computer CPU market. Arm (ARM.O) surged 8.8%, while Intel (INTC.O) dropped 6.6%. Memory storage stocks posted widespread gains: Micron Technology (MU.O) jumped over 5% to cross the $1000 threshold, and SanDisk (SNDK.O) advanced 3.4%. MicroStrategy (MSTR), meanwhile, opened 9% lower; the company sold 32 Bitcoin from its treasury last week at an average price of around $77,135 per BTC.
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