Opinion: The US Military Can Safeguard the Strait of Hormuz, but Allies' Participation is Essential to Ensure Accessibility
On June 9, former U.S. Secretary of Defense Lloyd Austin said the U.S. Navy has the ability to reopen the Strait of Hormuz. But keeping this critical oil and gas shipping lane open long-term would come at a steep cost and require allies to chip in, he noted.
Austin, who served as Secretary of Defense under the Biden administration, explained: “The U.S. Navy can definitely reopen the Strait of Hormuz. But sustaining it open for the long haul won’t be cheap—so if we have to do that, we want the international community to pull together on this. Reopening the strait means we expect allies and partners to join in too, because freedom of navigation matters not just to the U.S., but to everyone around the globe.”
Austin also pointed out that Israel’s ongoing attacks on Hezbollah in Lebanon are a major roadblock to wider diplomatic efforts aimed at ending the conflict. He called for the situation to “de-escalate” so negotiations can move forward.
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《The Big Short》 Protégé Steve Cautious About SpaceX IPO, Calling It Overly Leveraged on AI and With Excessive Capital Expenditure
On June 9, Steve Eisman—who gained fame for successfully shorting the U.S. real estate market and was the real-life prototype for a character in *The Big Short*—said he will not immediately short SpaceX following its IPO, though he remains cautious about the company’s IPO prospects.
Eisman noted SpaceX’s capital expenditure (capex) is expanding rapidly, with data showing the firm’s capex as a share of revenue jumped from 42% in fiscal year 2023 to 215% in the first quarter of 2026. He attributes this surge mainly to SpaceX accelerating its transition into an AI services and infrastructure company, rather than remaining solely a space technology firm.
Eisman added that current AI large models and intelligent agent products lack meaningful differentiation, with industry competition growing increasingly homogeneous—making it hard to build a sustainable long-term moat. "What’s built with massive amounts of capital is essentially just a commodity," he remarked.
While acknowledging Elon M
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「Vampire Attack」 Surges Over 15%, MetaTech Continues to Rally, Reaching New Intraday High
On June 8, Marvell Technology (MRVL.O) hit a new intraday high, lifting its market cap to $265.1 billion. Marvell led the U.S. optoelectronics sector with a rally of over 15%, while other concept stocks in the space saw their gains narrow: POET up 7.93%, LITE up 3.75%, Nokia up 3.41%, Corning up 6.13%.
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Aave Founder Defends $8.45 Billion Liquidation, V4 Upgrade to Revamp Risk Management System
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 ~
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Investment in FTX Goes to Zero, Ontario Teachers' Pension Plan Hits Jackpot with SpaceX, Post-IPO Holdings Could Soar to $11.6 Billion
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
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