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According to an analysis by Tommy, there is a significant gap in valuation and revenue conversion for Chinese open-source AI companies, with their price-to-sales ratio (P/S) far exceeding that of leading counterparts in the United States.Data shows that Zhipu, which developed the GLM 5.2 model, currently has a market value of approximately $137 billion, but its revenue for the fiscal year 2025 is about $107 million, resulting in a price-to-sales ratio as high as 1280 times; MiniMax has a market value of about $23 billion, with a price-to-sales ratio of approximately 290 times. In contrast, the valuations of leading AI laboratories in the United States are more solid, with OpenAI (valued at about $852 billion) and Anthropic (valued at about $965 billion) having price-to-sales ratios of only 34 times and 21 times, respectively.It is believed that due to overseas users' concerns about data privacy, they are unwilling to send data directly to China, resulting in the massive demand for Chinese AI companies not being converted into actual API revenue, leading to significant profit loss to overseas third-party inference service providers (such as OpenRouter, etc.). To support their current high valuations, Chinese AI companies urgently need to prove their data non-retention mechanisms and capture the market at low prices, or explore revenue-sharing and initial licensing collaborations with overseas inference platforms to expand their actual revenue scale.

According to a report by the People's Daily, the Ministry of Commerce of China announced today that, in accordance with the Export Control Law and the Regulations on the Export Control of Dual-Use Items and other laws and regulations, in order to maintain national security and interests and fulfill international obligations such as non-proliferation, it has decided to officially include 10 U.S. entities, including Aveox, Red Cat, and USA Rare Earth, on the export control list starting from June 22.The announcement clearly states that exporters are prohibited from exporting dual-use items to the aforementioned 10 entities, and organizations or individuals from any country or region are prohibited from transferring or providing dual-use items originating from China to these entities. It also requires an immediate cessation of ongoing related export activities. In addition, in special circumstances where export is necessary, operators must apply to the Ministry of Commerce in accordance with the law.

According to Jinshi, U.S. President Trump stated, Happy Father's Day! Our country is thriving. Record employment numbers and the stock market, the best economy in history! The most powerful military in the world, far ahead. We are winning in every way, winning like never before. God bless everyone!

Grant Cardone, CEO of the American real estate investment company Cardone Capital and billionaire, stated on the X platform: "Cardone Capital has increased its holdings by 282 bitcoins."

According to Rest of World, in order to significantly reduce operating costs, American developers and startups are accelerating the adoption of Chinese AI models such as DeepSeek, Minimax, and Kimi. Due to their high cost-effectiveness in handling common tasks like code writing, the market share of Chinese AI models is rapidly increasing. Data shows that in May, the Token usage share of DeepSeek on the service provider Vercel platform surged from less than 1% to 17%. Additionally, it is reported that Microsoft is also exploring the use of DeepSeek or other open-source models as a low-cost alternative for Copilot.However, despite the popularity of Chinese AI models in the market due to their price advantage, many American companies and developers choose to access these models indirectly through local servers or American cloud service providers, constrained by domestic political scrutiny and data security concerns. This has led to Chinese AI companies facing high usage rates while still struggling to effectively convert traffic into substantial direct revenue and long-term enterprise-level customer trust in the U.S. market.

According to Jinshi, large bank stocks in the United States generally rose, with Morgan Stanley up 2.6%, Goldman Sachs up 2.3%, and Citigroup up 1.8%.

Global technology company Electric Soul (EST) has disclosed the latest progress in its global deployment. As of June 2026, the company has deployed tens of thousands of standardized commercial shared charging devices in multiple countries across Europe, America, and Southeast Asia, covering high-traffic scenarios such as business districts, transportation hubs, and dining clusters, while maintaining stable operations.As the scale of devices reaches tens of thousands, Electric Soul is transitioning from regional market expansion to a phase of global-scale operations. The project enhances replication efficiency between different countries and cities through unified hardware standards, cloud-based SaaS operation and maintenance backend, localized payment adaptations, and city agency cooperation models, providing support for the continuous expansion of the global shared charging network.Electric Soul stated that leveraging the large-scale implementation experience in the European, American, and Southeast Asian markets, the next step will be to expand into incremental markets such as the Middle East, South Asia, and Latin America, continuously promoting the vision of "global reach, boundaryless charging," and further exploring new models of global energy infrastructure in RWA and DePIN scenarios.

According to Jinshi reports, the global fund manager survey by Bank of America in June shows that about 55% of investors expect the Federal Reserve to maintain interest rates on hold on Wednesday, adopting a "tightening stance of inaction," while the new Federal Reserve Chair Waller hinted at keeping rates higher for a longer period. Another 33% of investors expect a "looser stance of inaction," meaning Waller is open to further rate cuts.

According to Jinshi, a global fund manager survey by Bank of America in June shows that 40% of investors expect the Federal Reserve to raise interest rates at least once in the next 12 months, an increase from 16% in May. This month, 28% of investors expect at least one rate cut, a significant decrease from 50% last month. At the same time, 28% of respondents expect the federal funds rate to remain unchanged in the next 12 months. The survey was conducted from June 5 to June 11.

According to CoinDesk, U.S. Senator Cynthia Lummis stated that establishing clear regulatory rules for the cryptocurrency industry "is not about helping the industry, but about protecting every American who wishes to participate in this economic activity."She emphasized that a clear and predictable regulatory framework helps ordinary investors to participate in the cryptocurrency market in compliance and manage risks, rather than just serving industry institutions or large companies.

Bitget announced that it has officially completed the registration as a Virtual Asset Service Provider (PSAV) with the National Securities Commission (CNV) of Argentina, becoming one of the compliant registered virtual asset service entities in the country.Argentina is one of the most active cryptocurrency markets in Latin America. Industry reports indicate that nearly 20% of the local population is using digital assets, and over 15,000 businesses support cryptocurrency payments. As the demand for financial infrastructure and access to global markets continues to grow, Argentina has become an important strategic market for digital asset platforms.Bitget CEO Gracy Chen stated, "The regulatory framework for digital assets in Latin America is continuously improving. Completing the PSAV registration will help Bitget establish a more long-term local market foundation in Argentina and provide local users with a compliant and secure service experience."

The American veteran asset management company Federated Hermes announced the launch of the Federated Hermes Money Market Management Digital Treasury Fund, which complies with the stablecoin regulatory requirements of the GENIUS Act. This fund is primarily aimed at stablecoin issuers, while also open to institutional and retail investors. Its collateral assets have a maturity of no more than 93 days, and the investment scope includes cash, U.S. Treasury bonds, and other highly liquid assets.

According to Decrypt, Geoffrey K. Auyeung, a resident of the Seattle area in Washington State, was sentenced to 5 years in prison for his involvement in a cryptocurrency money laundering scam. Prosecutors stated that he assisted a criminal gang in defrauding victims under the guise of oil and gas investments from 2022 to 2024, with a total amount involved of approximately $97.1 million.Auyeung was responsible for receiving the proceeds of the scam and transferring them to his accomplices by purchasing cryptocurrencies such as BTC, ETH, USDT, and USDC to obscure the flow of funds. Prosecutors pointed out that he continued to contact his accomplices even after being charged and arrested, and received illegal proceeds through his wife's bank account. Investigations revealed that Auyeung earned at least approximately $4 million in commissions, and over $2.3 million in bank deposits, approximately $7.1 million in cryptocurrency, and a car have been seized. Most of the funds were ultimately converted into cryptocurrency through platforms such as Gemini, Bitstamp, and Coinbase before being transferred to Binance.

According to Jinshi, the Global Research Department of Bank of America reported that due to a significant rise in energy prices, the overall CPI in the U.S. for May is expected to increase by 0.46% month-on-month, and the year-on-year growth rate is expected to rise from 3.8% in April to 4.2%, reaching the highest level since April 2023. The core CPI month-on-month increase is expected to be 0.2%, with a year-on-year increase of 2.8%. The bank pointed out that this CPI data will be the focus of attention regarding the impact on core PCE and the outlook for monetary policy.

According to Jinshi reports, Bank of America Securities stated that investors should remain cautious about the U.S. stock market, as an increasing number of bear market signals indicate that the market is approaching its peak. The strategist team led by Savita Subramanian noted in a report on June 5 that about 70% of bear market signals have been triggered, with 17 out of 20 valuation metrics for the S&P 500 index showing "statistically significant overvaluation." In addition, the strategists believe that the performance of high price-to-earnings ratio stocks has been too strong, indicating "signs of excessive speculation."

According to Bloomberg, Bank of America (BofA) has appointed its senior trading executive Adam Dixon to lead the bank's digital asset strategy. According to an internal memo, Dixon has been with the bank for over 20 years, previously serving as the head of global market financial resource management, and is now appointed as the global head of digital asset transformation, based in the London office, responsible for coordinating related initiatives across the company.In his new role, Dixon will help oversee several enterprise-level initiatives, including tokenized assets.

According to Decrypt, Republican fintech entrepreneur Michael Carbonara sold 10 Bitcoins for $800,000 to fund his congressional campaign and demonstrated his support for cryptocurrency in this critical battle as the election landscape changed. Besides the election, Carbonara believes that blockchain can also help the government improve the transparency of taxpayer fund usage.

According to Jinshi reports, U.S. President Trump stated on social media: "Iran must agree that they will never have nuclear weapons or nuclear bombs. The Strait of Hormuz must be opened immediately in both directions, with no tolls, allowing shipping traffic to pass unrestricted. All mines (bombs)------if any------will be cleared (we have previously utilized our excellent underwater mine-sweeping ships to clear a large number of such mines by detonation. Iran will be responsible for immediately clearing and/or detonating any remaining mines------there shouldn't be too many!).Those ships that have been stranded in the strait due to our astonishing and unprecedented naval blockade------given that the blockade has now been lifted------can begin to "set sail for home"! The concentrated materials that are buried deep underground------sometimes referred to as "nuclear dust"------are currently being pressed under a mountain that has nearly collapsed (this is due to the powerful B-2 bomber airstrikes we launched 11 months ago); these materials will be excavated by the United States and will be thoroughly destroyed in close coordination and cooperation with Iran and the International Atomic Energy Agency. Until further notice, there will be no financial transactions between the two parties.In addition, the two sides have reached a consensus on other issues that are far less important than the above matters. I am now heading to the "situation room" for a meeting to make the final decision." AXIOS reporters interpret that Trump hinted at an imminent approval of the Iran agreement.