Binance Wallet SpaceX IPO Subscription Total Amount Reaches $557 million, with Over 27,000 Participating Addresses
June 12: Binance Wallet’s SpaceX IPO subscription round wrapped up at noon today, drawing roughly $557 million in total participation from 27,689 unique participating addresses.
A breakdown of the subscription distribution reveals heavy capital concentration among a small group of large investors:
- Addresses investing over $20,000 make up 81.48% of all participants, yet account for just 18.39% of the total funds raised.
- Addresses putting between $20,000 and $100,000 represent 16.69% of participants, contributing 57.67% of the total capital.
- There are 114 addresses with investments exceeding $500,000, holding a 10.23% share of the total funds.
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The SEC Plans to Eliminate Key NMS Rule, Potentially Signaling Major Deregulation of On-Chain Stock Trading
June 12 – The U.S. Securities and Exchange Commission (SEC) proposed scrapping two core rules – Rule 611 and Rule 610(e) – from Regulation NMS, aiming to simplify U.S. capital markets structure and foster their long-term development.
SEC Chairman Paul Atkins stated the proposal is designed to cut trading costs and drive market structure evolution through competition and market-based mechanisms. The two rules were originally established in 2005: Rule 611 requires trades to execute at the "protected best bid" and bars transactions priced inferior to quotes from other trading venues; Rule 610(e) outlaws "locked or crossed markets" (situations where trading venue bid and ask prices misalign in ways that harm market efficiency).
Analysts note this adjustment could have structural impacts on tokenized U.S. stocks and DeFi trading. Alex Thorn, head of research at Galaxy Digital, highlighted Rule 611 has long been a foundational constraint for on-chain stock trading, as automated market make
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SpaceX IPO Imminent: $1.77 Trillion Valuation Sparks Debate, Market Betting on Opening Day Surge to Over $2 Trillion
June 12th marks SpaceX’s official debut on the Nasdaq tonight, with its new trading ticker set to be SPCX. Priced at $135 per share, the IPO values the company at roughly $1.77 trillion. SpaceX aims to raise $75 billion in the offering, making it one of the largest IPOs in history.
Market sentiment around the stock’s first day of trading is sharply divided, splitting analysts and traders into two clear camps:
**Bull Case**: Optimists cite FOMO (fear of missing out), a small share float, and expectations the stock will soon be added to key Nasdaq indices as catalysts for significant early gains. They project SpaceX’s market cap could hit $2 trillion to $2.5 trillion on its first trading day, with predictive market data showing traders price in a high likelihood it will top $2 trillion that day.
Several investment banks, including Oppenheimer, have given the stock an "Outperform" rating and set a $190 target price—implying over 40% upside from the IPO. Their reasoning includes Starlin
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Crude Oil Retreats, Global Stocks Rally, Trump Says US and Iran May Reach Peace Agreement
June 12 (Reuters) – U.S. President Donald Trump scrapped a planned military strike on Iran for the third straight day Wednesday and teased that a "peace deal could be on the horizon," triggering sharp moves across global financial markets that sent oil prices sliding and equities rallying.
International benchmark Brent crude tumbled more than 1% to around $89 a barrel. U.S. West Texas Intermediate (WTI) crude slid roughly 1% to settle at $87 a barrel. Markets are now laser-focused on whether shipping risks through the Strait of Hormuz have cooled; the strategic chokepoint carries roughly one-fifth of global oil trade.
In equities, Asian markets jumped sharply. South Korea’s KOSPI index surged more than 8%, Japan’s Nikkei 225 gained nearly 4%, while markets in mainland China, Hong Kong, and Taiwan posted broad gains. U.S. stock futures also advanced, reflecting a revival in investor risk appetite.
Meanwhile, U.S. average gasoline prices edged down to $4.13 a gallon, but still hover n
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Yesterday, the US Spot Bitcoin ETF experienced a net outflow of $22.5 million, while IBIT saw an inflow of $30.3 million.
June 12 – According to Farside’s monitoring, net outflows from U.S. spot Bitcoin ETFs totaled $22.5 million yesterday. The detailed breakdown is as follows:
- IBIT: $30.3 million net inflow
- FBTC: $5.5 million net outflow
- BITB: $13.1 million net outflow
- ARKB: $27.2 million net outflow
- HODL: $0.148 million net outflow
- MSBT: $2.2 million net inflow
- BTC: $5.6 million net inflow
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