JuCoin $511 million Reserve Proof Challenged by Community, On-chain Assets Mostly JuChain Native Wrapped Tokens
June 6 – Darcy, former CMO of Web3 security firm Salus, published a post probing the authenticity of JuCoin’s asset reserves, alleging that the USDC token on JuChain is an ERC20 deployed by the project team, can be minted arbitrarily, and is not the genuine asset issued by Circle.
JuCoin’s official Proof of Reserves (PoR) page discloses total reserves of roughly $5.11 billion with a 123.81% reserve ratio, backed by six asset types: USDT, BTC, ETH, USDC, BNB, and SOL. CoinMarketCap’s Ju.com page links these assets to address 0x0D141Fd7a9Ed772678522933D424E10eB4CAc48d, noting the data is reported directly by the trading platform.
Further checks on the JuChain explorer found that the USDC, USDT, BTCB, ETH, BNB, and SOL held by this address are all ERC-20/BridgeToken mapped assets on JuChain—not actual assets issued by their respective issuers or native chain assets. Notably, JuChain’s USDC has only 14 total holders, with the PoR address holding approximately 99.99% of its total supply;
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SpaceX pre-market futures contract dropped by 2.83% in the last 24 hours and by 15.15% over the past 7 days.
June 6. According to Binance’s Pre-IPO data, SpaceX’s pre-IPO contract dropped 2.83% over the past 24 hours, currently trading at $164.21. Its 24-hour trading volume stands at $92.09 million, with a 15.15% decline over the past seven days.
This morning, two industry insiders revealed that SpaceX’s IPO has secured roughly $150 billion in investor subscriptions—double its original fundraising target. Dubbed the largest IPO in history, the offering has drawn extraordinary investor enthusiasm.
Still, some analysts are questioning SpaceX’s $17.5 trillion valuation. To justify this figure, the company would need to grow its annual revenue to around $11 trillion by 2035, a nearly 60-fold increase from its $187 billion in 2025. This translates to an average annual revenue growth rate of roughly 50% over the next decade, an unprecedented pace for a major firm.
Per SpaceX’s 2025 S-1 filing, the company generated $18.7 billion in revenue and posted a net loss of $4.9 billion that year. U
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Analyst Questions SpaceX's $1.75 Trillion Valuation: Revenue Would Need to Grow Nearly 60x in the Next Decade, Unprecedented
June 6th — Fortune magazine cited David Trainer, CEO of research firm New Constructs, as saying that to support a roughly $1.75 trillion valuation, SpaceX will need to grow its annual revenue to around $1.1 trillion by 2035. That marks a nearly 60-fold increase from its $18.7 billion in 2025, requiring a roughly 50% annual revenue growth rate over the next decade.
Per SpaceX’s prior IPO filing, the company generated $18.7 billion in revenue in 2025 while posting a net loss of $4.9 billion. Using a discounted cash flow model, Trainer calculated that hitting this growth target is necessary for investors to earn an annualized return of about 10% over the next 10 years.
The analysis points out that if SpaceX hits the $1.1 trillion revenue mark, its top line will represent roughly 2.4% of U.S. GDP in 2035 — exceeding the entire U.S. utility sector in economic size and approaching three-quarters of the U.S. transportation industry.
Trainer noted that while the AI market is vast, it’s crow
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A Whale Once Again Leverages to Buy the Dip, Acquiring $28 Million Worth of ETH, Increasing Overall Leverage to 3x
June 6 — EmberCN reports that a whale kept loading up on Ethereum (ETH) at 1 PM today, when ETH’s price dipped to $1,505, spending 28 million USDT to buy the digital asset.
Over the past 36 hours, the wallet has borrowed a total of $128 million in USDT to acquire 78,060 ETH at an average cost of about $1,645, resulting in an overall leverage ratio of roughly 3x.
Data shows the whale currently holds two outstanding lending positions, with liquidation prices of approximately $1,356 and $1,280 respectively. As its position continues to expand, its exposure to liquidation risk rises accordingly.
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Storage Stock Correction Overdone? Institution Clarifies NVIDIA Memory "Downgrade" Controversy: HBM Demand Unaffected
**June 6: Global Storage Sector Pulls Back Amid NVIDIA Memory Configuration Adjustment Report**
Global storage equities posted a broad pullback on June 6, driven by a report from chip industry research firm SemiAnalysis about planned tweaks to memory setups for NVIDIA’s next-generation Vera Rubin NVL72 server platform.
On June 5, SK Hynix plummeted 9.92%, while the Chinese A-share memory index fell roughly 4%. Leading decliners included Biwin Storage, Jiahe Long, Netac Technology, and Zhaoxin Innovation. The prior trading day, Micron Technology closed down 7.74%.
The SemiAnalysis report noted NVIDIA plans to cut the system memory capacity of SOCAMM modules paired with its Vera CPU from 192GB to 96GB, reducing expected per-rack costs from $7.6 million to $6.8 million—a roughly 10% savings. The market initially read this as a signal of weakening AI server storage demand, sparking the sector’s sell-off.
However, multiple institutions later clarified this adjustment only affects
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WLD plummeted over 20% at one point, with a market capitalization dropping to $2.247 billion
On June 6, HTX market data shows Worldcoin (WLD) tumbled more than 20%, trading at $0.4319 at press time with a market capitalization of $2.247 billion.
Arthur Hayes announced today he has liquidated all his WLD holdings — a dramatic about-face from his public commitment to holding the token less than 24 hours prior. Hayes had framed WLD as a liquidity proxy for AI-themed trading, arguing that as SpaceX ramps up focus on its AI and connectivity businesses, a strong pre-IPO performance would lift the broader AI and tech sector. For retail investors unable to access SpaceX equity directly, Hayes positioned WLD as a convenient alternative.
However, SpaceX’s private pre-IPO price has plummeted sharply in recent days: data from Hyperliquid shows it’s fallen over 50% in just that period, eroding the appeal of AI-themed trading and prompting Hayes to exit his WLD position. WLD had defied market trends with a roughly 70% gain over the past month, but that advance has narrowed to around 4
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