SBF Officially Applies for Pardon from Trump

June 8. This April, KelpDAO—a LayerZero-based cross-chain bridge—was hit by a $292 million exploit, sparking an $8.45 billion deposit run on DeFi lending protocol Aave within 48 hours. Amid mounting external scrutiny of the protocol’s risk controls, Aave founder and CEO Stani Kulechov argued the incident actually proved Aave’s “resilience.” Speaking at the Paris Proof of Talk conference, Kulechov noted Aave V3 has weathered multiple market cycles and stayed stable even in extreme conditions. He attributed recent DeFi security breaches to third-party infrastructure flaws rather than vulnerabilities in Aave’s own smart contracts. But risk analysis firm LlamaRisk explained the attacker exploited a KelpDAO vulnerability to mint valueless collateral, deposited it on Aave to siphon off real wETH, leading to roughly $1.237 billion in defaults for Aave V3. To resolve the crisis, the Aave DAO swiftly transferred 25,000 ETH, with Kulechov personally contributing an extra 5,000 ETH—totaling a ~

On June 8, the Ontario Teachers’ Pension Plan (OTPP) in Canada is poised to earn massive returns from SpaceX’s upcoming initial public offering (IPO). The pension fund deployed roughly $220 million into SpaceX in 2019, when the aerospace firm was valued between $33 billion and $36 billion. If SpaceX goes public as planned at $135 per share, hitting a $1.75 trillion valuation, OTPP’s stake in the company would surge to around $11.6 billion, delivering an unrealized gain of over $11 billion. As of the end of 2025, OTPP manages approximately $279.4 billion in assets, covering 346,000 active and retired teachers. The fund’s chief investment officer, Gillian Brown, has stated the IPO does not necessarily mark an exit point; OTPP may hold onto its shares after SpaceX’s acquisition of xAI to watch whether the company can enter a new growth cycle. A notable detail: OTPP invested about $95 million in FTX in 2022, a position it fully impaired after the crypto exchange collapsed. Even with tha

June 8 — SpaceX’s initial public offering (IPO) on the Nasdaq has seen robust oversubscription. The company is set to wrap up its IPO subscription period following Wednesday’s market close. (Golden Ten)

June 8 — Robust May U.S. non-farm payroll data has fueled Federal Reserve rate hike bets, and Wall Street is warning the current AI-driven bull market could get taken down not by deteriorating fundamentals, but by soaring funding costs. On Friday, U.S. employers added 172,000 jobs in May, far exceeding market forecasts. That triggered bets the Fed will raise interest rates later this year, sparking a sharp tech selloff: The Nasdaq Composite tumbled more than 4% in one session, while the Philadelphia Semiconductor Index plunged 10% — its largest single-day drop since 2020. All told, U.S. equities erased roughly $2 trillion in total market value that day. Multiple risk gauges are also flashing red. Goldman Sachs projects that combined AI capital spending from Meta, Microsoft, Amazon and Alphabet will hit $5.3 trillion between 2025 and 2030. Citigroup’s Global Bear Market Warning System has 10 indicators at the danger threshold — the highest reading since the 2008 financial crisis. The

On June 8, data from Bitget showed that the U.S. stock optoelectronics sector rose broadly, with POET up 8.68%, LITE gaining 3.82%, II-VI Technologies jumping 14.49%, Nokia advancing 3.48%, and Corning climbing 6.54%.

June 8 – U.S. storage semiconductor stocks rallied sharply, according to market data from crypto exchange Bitget. Micron Technology (MU) led the group with a 10.24% gain, followed by SanDisk (SNDK) rising 7.28%, Western Digital (WDC) adding 3.45%, and Seagate Technology (STX) climbing 4.82%. In the tokenized crypto contract market, SK Hynix’s perpetual contracts surged 4.65% in the past 24 hours, while Samsung’s perpetual contracts jumped 5.44% over the same period. The positive momentum ties to key news from June 7: During his visit to Seoul, South Korea, NVIDIA CEO Jensen Huang stated that the tight global supply of memory chips will persist for several years. The shortage spans the entire supply chain—from upstream wafer manufacturing and advanced packaging to silicon photonics modules—where demand consistently outstrips supply. Huang attributed the deficit to sustained, unabated high demand for AI-related applications, with no signs of easing.