WTI Crude Oil Futures Fall Below $80 per Barrel for the First Time Since March

June 17 — Per the China Securities Regulatory Commission (CSRC) website, the IPO guidance status of Beijing Zhipu Huazhang Technology Co., Ltd. for the STAR Market has been updated to "Guidance Acceptance," with Guotai Junan Securities serving as the guiding securities firm.

June 17 — The Shanghai Stock Exchange (SSE) announced Wednesday it has issued new guidance to align with the China Securities Regulatory Commission’s (CSRC) framework for boosting inclusive access to the sci-tech innovation board’s Growth Enterprise Layer, standardize application of the STAR Market’s fifth listing rule, and enable high-quality artificial intelligence large-language model (LLM) companies that haven’t generated meaningful revenue to go public on the STAR board. Titled “Shanghai Stock Exchange Issuance and Listing Review Rules Applicable Guidance No. 10 — Application of the Fifth Listing Standard for AI Large-Scale Model Enterprises on the STAR Market,” the guidance takes effect immediately upon release. Key eligibility criteria laid out in the rules require issuers to hold a leading position in the AI LLM space, rank among the industry’s top players, play a critical role in the broader industrial chain, and earn wide recognition from market participants. Firms’ AI LLM-

June 17 — Iran has warned it will retaliate if Israel does not halt its strikes on Lebanon, according to Iran's state-run TV.

June 17 — In response to community concerns including the claim that "CZ is breaking his commitment to participate in Binance operations," He Yi stated that CZ has not been involved in Binance’s operations at all since 2023. Additionally, Aster is a BNBchain project invested in by Labs (YZi Labs), where CZ serves as an advisor.

On June 17, the High Court of Hebei Province in China released a typical case from its crackdown on illegal fundraising activities. A man promoted an investment project tied to the Metaverse through the Newmateworks platform, which is affiliated with the Yishang Community. He induced members of the public to invest, personally bringing in 19 total investors who put a combined 15.3936 million yuan into the scheme. Of that sum, 1.1014 million yuan has been refunded, leaving 14.2922 million yuan unrecovered. The court ruled the defendant used the emerging Metaverse technology concept as a cover for fraudulent marketing, violating China’s financial management laws. Given the huge amount of funds involved, his actions constituted the crime of illegal absorption of public deposits. He was sentenced to five years and four months in prison and ordered to pay a fine.

On June 17, Bitget officially announced it has adjusted key parameters for the SPCXUSDT U perpetual contract trading pair, including tweaks to leverage, position tiers, and maintenance margin ratios. The maximum leverage has been lifted to 100x, which varies depending on a user’s position size. Note that existing positions held by users before the update will be impacted. Traders can adjust related settings to suit their own asset allocation needs. For full details, refer to Bitget’s official platform.