On June 2nd, Coinbase announced an investment in ProShares’ GENIUS Money Market ETF (ticker: IQMM), per an official statement. This fund is the first money market ETF built to comply with GENIUS Act requirements and act as a reserve asset for stablecoins—representing Coinbase’s latest expansion into stablecoin fund management and reserve infrastructure. As described, IQMM primarily invests in U.S. Treasuries with a remaining maturity of 93 days or less, cash, and cash equivalents. It’s structured to align with Section 4 of the GENIUS Act, which governs stablecoin reserve assets. The GENIUS Act mandates stablecoin issuers maintain 1:1 reserve backing with high-quality, highly liquid assets, setting a unified regulatory standard for the sector. Coinbase noted that as stablecoins grow in use for payments, settlements, and the broader digital economy, reserve management, liquidity management, and the infrastructure for stablecoin issuance and redemption have become more critical. The com

June 2nd Update: Cryptocurrency exchange Backpack announced today it will officially launch its securities platform—Backpack Securities—within the coming week. Positioned as a modern brokerage that bridges traditional finance (TradFi) and crypto finance, the platform integrates three core capabilities: verified real securities ownership, on-chain tokenized asset issuance, and unified capital management, all built to deliver a seamless investment experience for users moving between traditional stocks and blockchain-based assets. Per the announcement, Backpack Securities will let users hold actual U.S. securities (including stocks and ETFs) through regulated U.S. market infrastructure, granting full legal rights such as cash dividends and access to corporate actions. It also supports tokenizing these assets: users can transfer and manage tokenized versions on the blockchain 24/7, and convert bidirectionally between traditional securities and on-chain assets via the Backpack exchange. Th

June 2 — Information exchanges between Iran and the U.S. on a preliminary memorandum of understanding have been interrupted for at least several days, per informed sources cited by Iran's Fars News Agency.

On June 2, Anthropic is granting an additional 150 global institutions access to its Mythos AI model, a tool built to uncover network security vulnerabilities. The company has previously stated that the risks of releasing Mythos publicly are too high to justify doing so. Anthropic plans to formalize this expansion in an announcement coming Tuesday, bringing the total number of institutions with access to Mythos to around 200. The newly approved institutions are spread across 15 countries and span industries including energy, healthcare, and telecommunications. While Anthropic hasn’t shared specific names of the added entities, the company noted some are organizations that produce critical programming code. Insiders have confirmed that Europe’s cybersecurity agency will be among those granted access to the software. To stay updated on global AI trends around the clock, join the DCSN Beating Feishu AI News Channel, which monitors international AI developments 24/7.

June 2 – Digital asset financial services firm Galaxy Digital announced its Global Markets division has officially launched an over-the-counter (OTC) trading service for institutional clients focused on prediction markets. The offering enables hedge funds, family offices, and other institutional investors to participate in prediction market trades with the scale and privacy levels that retail platforms cannot match. Currently, the service covers non-sports event contracts traded on Kalshi and Polymarket, including outcomes tied to economic, political, and geopolitical developments. Galaxy says it plans to expand access to additional prediction market platforms in the coming months. Beyond execution, the firm can also hedge clients’ prediction market positions using stocks, commodities, and other assets, helping investors build comprehensive risk management strategies around individual events. Galaxy also revealed the division has already completed its first institutional trade: a $10

On June 2, UBS Group announced it has lifted its price target on Oracle (ORCL.N) from $250 to $285.