Morgan Stanley: SpaceX Revenue to Exceed $3.4 Trillion by 2040

June 5 — Anthony Pompliano, a cryptocurrency entrepreneur and CEO of ProCap (a Bitcoin treasury firm), argues that SpaceX’s initial public offering (IPO) will act as a watershed moment for Wall Street, opening the door wider to retail investors. For years, banks have struggled to figure out how to attract this group of capital, and SpaceX has emerged as the ideal asset to draw individual investors into their financial ecosystems. Pompliano outlined two key scenarios: If SpaceX’s IPO proceeds smoothly and retail investors earn a profit, banks will reap a major windfall over the next several years, as retail investors pour large sums into funds, IPOs, and various financial instruments. Conversely, if the IPO falls short and retail investors lose money, it will deal a setback to the relationship between institutional players and retail investors.

June 5 update: Per Bitget market data, spot gold slid below $4,400 per ounce, logging a 1.69% intraday drop. Spot silver plummeted 4% on the day, trading at $70.90 per ounce as of press time. Earlier breaking news: The first non-farm payroll report of the “Wash Time” era has been released, with employment figures coming in significantly higher than consensus estimates.

June 5th, QwQiao, co-founder of Alliance DAO, noted in a post that Zcash feels exactly like Bitcoin in its early days: A group of the smartest people are contributing code to the project, while the community is dominated by self-proclaimed "smart midwits"—individuals who claim to be intelligent but lack real understanding. The project faces numerous bugs and existential threats, along with extreme price volatility, but if Zcash really takes off, the upside potential is highly asymmetric, balancing extreme risk with massive reward. Today, privacy cryptocurrency Zcash (ZEC) has seen a sharp market sell-off after a security vulnerability that could lead to infinite inflation was exposed.

June 5: U.S. non-farm payroll data far exceeded forecasts, leading to a sharp uptick in Fed rate hike expectations. S&P 500 index futures and Nasdaq 100 index futures plunged to their intraday lows.

On June 5th, monitoring by PeckShield indicates the DTXT/USDT trading pair on BNB Chain was exploited in an attack, resulting in a loss of approximately 35,041 USDT. The root cause of the exploit: The DTXT contract determines its operation type by comparing the USDT balance with the trading pair’s reserve. Attackers exploited this loophole by transferring a small amount of USDT directly to the trading pair address. This action tricked the contract into misidentifying a large DTXT sell order as liquidity addition, allowing the attacker to bypass the sell transaction fee logic. The attacker took out a 1,077,400 USDT flash loan from Moolah and netted roughly 35,000 USDT in profit.

June 5th (via ChainNews): A crypto whale continued borrowing $32 million USDT to open a leveraged long position for 18,994.5 ETH just 20 minutes ago. Today, the same whale has taken out a total of $76.42 million in USDT loans from the Aave protocol to purchase 44,845 ETH at an average price of $1,704 per ETH.