Vitalik Sells DHN, FML, and Other Meme Coins, Receives 71.69 ETH

On June 4, Citigroup lifted its Oracle price target to $330 from $320. Barclays boosted its price targets for CrowdStrike (CRWD.O) and ASML Holding, raising the former to $675 from $650 and the latter to €1,900 from €1,575, according to FX Street.

June 4 — Hyperinsight (via its Telegram channel @HyperInsight) reports that Trader Loracle, HYPE’s former largest short seller, has flipped from short to long across its entire position, accumulating long positions in seven assets: HYPE, ZEC, WLD, TON, ASTER, NEAR, and XMR. HYPE remains Loracle’s top long allocation. The trader opened a 2x-leveraged HYPE long yesterday and added to the position during today’s price dip, bringing the total long size to $8.6 million. Loracle currently holds 892,500 HYPE spot tokens valued at ~$60.7 million. With the futures longs added, their HYPE exposure is now fully bullish. All long positions except XMR are sitting with unrealized losses of varying degrees. Wallet address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae

June 4 – As this month’s FOMC meeting approaches, market expectations for Federal Reserve rate cuts are continuing to wane. Reuters columnist Mike Dolan noted that the lone remaining projection of “one rate cut this year” in the Fed’s dot plot could be scrapped entirely. There is even speculation that new Fed Chair Kevin Wash might push to abandon the dot plot framework altogether. Right now, the AI investment boom and developments in the Middle East are lifting energy prices, stoking renewed inflationary pressure. The U.S. labor market remains resilient: private payrolls added 122,000 jobs in May, beating consensus forecasts, a print that has led the market to start pricing in the possibility of a rate hike this year. While the upcoming meeting is not expected to bring an immediate rate hike, the policy statement is likely to further dial back the Fed’s dovish language. Several officials have previously suggested removing related forward guidance, and once-dovish Fed policymaker Wal

June 4 — Following the Lebanon ceasefire agreement, Israeli Prime Minister Benjamin Netanyahu is facing fierce backlash from voters in the north, where support for his Likud party has plummeted, per a new Reuters poll. Many northern voters are demanding tougher military action against Hezbollah, blaming Netanyahu for pushing through a rushed ceasefire under U.S. pressure. Poll data shows Likud’s expected vote share in the northern region has fallen to 23%, down sharply from the 35% it won in the 2022 general election. The northern voter loss rate is roughly three times the national average, and nearly 70% of respondents disapprove of the government’s handling of the Lebanon conflict. With Israeli elections set for no later than October, the opposition is intensifying its focus on the northern stronghold. Former IDF Chief of Staff and prime ministerial candidate Gadi Eisenkot has been campaigning aggressively in border areas, advocating for continued strikes against Hezbollah targets

On June 4, Coinbase announced the launch of Pre-IPO perpetual contract products, giving eligible non-U.S. users exposure to pre-listed company valuations. The first offering is the SpaceX Pre-IPO perpetual contract. This product settles in USDC, supports 24/7 trading, has no expiration date or rollover requirements, and lets users open or close positions at any time—just like standard perpetual contracts. Once SpaceX completes its IPO, existing positions will automatically convert to regular SpaceX perpetuals, with no extra steps needed from users, ensuring continuous price exposure from the private market to the public market. Coinbase noted it plans to roll out more Pre-IPO perpetual contracts in the future, covering sectors including technology, AI, energy, and aerospace. The initiative aims to lower barriers for global investors looking to participate in pre-listed company price discovery. At the same time, Coinbase cautioned that these Pre-IPO perpetual contracts use a valuatio

On June 4, SpaceX announced it will launch its highly-anticipated initial public offering (IPO) later this month. The aerospace and space company plans to issue 5.56 billion shares at $135 each, targeting a maximum fundraising of $750 billion. This values SpaceX at roughly $1.77 trillion—surpassing the $26 billion IPO record set by Saudi Aramco in 2019, making it poised to become the largest IPO in history. Per the latest prospectus, Elon Musk holds 5.22 billion Class B shares and retains 82.4% of SpaceX’s voting rights. At the current valuation, his personal wealth is projected to rise by about $223 billion, pushing his net worth above $1 trillion, making him the world’s first "trillionaire." Financial data shows SpaceX generated $18.7 billion in revenue last year, but posted an operating loss of $2.6 billion. These losses have continued to widen since the start of this year. The company plans to use IPO proceeds to expand its AI and rocket business infrastructure, as well as fund t