Data: Web3 social application Towns has over 400,000 total users, with over 200,000 token holders

June 5 — Data center developer Switch is in talks for a new funding round expected to raise tens of billions of dollars, with the company’s valuation reaching at least $500 billion, according to sources familiar with the matter. Private equity firms including Brookfield Asset Management, KKR, and other institutional investors are engaged in discussions to participate in this round, the sources noted. This financing round could pave the way for Switch’s upcoming initial public offering (IPO), with the company potentially going public as early as next year. Goldman Sachs and JPMorgan’s investment banking teams are assisting Switch in advancing this round of funding. As of press time, Switch has not responded to media requests for comment outside regular business hours, and the related details have not been independently confirmed. Click the original article link below to join the BlockBeats ? Feishu AI News Channel, which tracks global AI trends and news 24/7.

Per an official announcement, Upbit will list the Babylon (BABY) trading pair against the Korean Won on June 5th.

June 5: According to Saudi Arabia’s Al Arabiya TV, Iran has told Pakistan it is willing to transfer part of its uranium stockpile to a third country agreed to by both parties. (FXStreet)

June 5: The investor known as "Stock God" Serenity shared an update on their RPI investment case, noting that since releasing their investment thesis, RPI’s stock price has jumped from 283 British pence (GBX, the UK stock market’s trading unit) to 983 pence—an impressive 247% cumulative gain. Serenity pointed out that RPI’s latest performance guidance signals core earnings will handily beat market forecasts, fueled by surging demand for AI-related products and services. Although European media dubbed RPI a "fundamentally unsupported meme stock" back in February, Serenity stressed the stock’s rally isn’t just a sentiment-driven trend; it’s built on actual AI-powered revenue growth and improved financial performance.

On June 5, JPMorgan Chase announced it’s hiking its price target for Qualcomm (QCOM.O) from $160 to $265. Per Bitget market data, Qualcomm’s pre-market trading price is down 2.05% to $237.6.

June 5 – The Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have released the joint outcome of their consultation on amending over-the-counter (OTC) derivative trading provisions under the Settlement Rules. Given the widespread market support garnered during the consultation, the two regulators will move forward with legislative steps to formalize these proposed amendments into the Settlement Rules, and plan to implement the revised rules starting March 1, 2027 – the proposed effective start date for a new calculation period.