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Last week, the cryptocurrency market was under pressure due to higher-than-expected CPI data and geopolitical tensions in the Middle East. However, as the market completed risk pricing, BTC, ETH, and the overall cryptocurrency market experienced a rebound after an initial decline. BTC rose approximately 4.2% for the week, while ETH increased about 2.1%. The ETF capital flows and derivatives market also showed signs of recovery.Gate TradFi Perp's daily trading volume repeatedly exceeded $500 million, peaking close to $700 million, reflecting a continued warming of institutional risk appetite and demand for multi-asset allocation. In terms of institutional business, Gate's institutional trading volume share increased by 7.5% month-on-month, with BTC and ETH spot market shares growing by 9.62%.

According to an analysis of the latest leaked data by WIRED, the secretive society Dialog, co-founded by Peter Thiel, has an extremely ruthless and biased "grading and elimination" mechanism.Dialog implements a secret rule of "rating upon entry." Although the club has thousands of members, only 192 personal profiles (including 130 formal members and some candidates) were leaked and reviewed by WIRED. They reveal the club's counterintuitive hierarchy of disdain: C-level is the highest VIP, B-level is the overwhelming majority of ordinary members, while the A-level, usually regarded as the best, is actually the least known bottom tier.This rating is directly tied to members' wallets. Only about 25% of VIP "C" level big shots are required to pay the full attendance fee, while among the bottom "A" level members, the proportion paying the full attendance fee of tens of thousands of dollars is as high as 70%.Ironically, the AI screening mechanism introduced by Dialog is extremely superstitious about so-called "national recognition." For example, actor Josh Brolin, who played "Thanos," has never attended but wins VIP "C" level status due to box office success and millions of fans; meanwhile, academic giant Tyler Cowen was deemed "not famous enough among ordinary people" by the AI and nearly classified into the ordinary tier, only barely promoted to C-level through human intervention.The "value-added points" serve as a scythe for eliminating "useless people," specifically measuring members' resource connections and intellectual contributions to other club giants. After each gathering, staff review members' performances like "code review," and those with too low value-added points, cultural mismatches, or declining visibility will be ruthlessly removed from the invitation list.Additionally, the leaked database also exposed its built-in social and dating matching system (10% of members join the singles pool), which has a "no-match list" while recommending pairings.This so-called objective assessment system is also filled with biases: women make up one-third of the members but only receive 18% of VIP seats; politically, it is even harder to escape differential treatment. Although more than half of the members identify as "left-leaning," the probability of "right-leaning" members obtaining VIP status is more than twice that of left-leaning members, and even the "left-leaning" label of an environmental leader was forcibly rewritten to "right-leaning" by staff in the background.

According to Jinshi, Goldman Sachs has lowered its year-end gold price forecast by $500 per ounce to a new target price of $4,900 per ounce, as it no longer expects the Federal Reserve to cut interest rates in 2026. Analysts stated that although gold prices are still expected to rise in the second half of the year, the increase will not be as significant as previously anticipated. The downgrade in outlook is due to the delay in interest rate cut expectations until June and December of next year.

According to Onchain Lens monitoring, two wallets suspected to be associated with the same whale sold 11,888 ETH at a price of $1,706, worth $20.28 million.

Due to SpaceX's market value exceeding $2.5 trillion after its IPO last week, creditors of the bankrupt cryptocurrency exchange FTX may benefit from this. Before FTX's collapse in 2022, it had invested $190 million in SpaceX through a fund from the venture capital firm K5 Global. Creditor representative Sunil Kavuri stated that based on SpaceX's current market value, FTX's investment exposure in SpaceX could be worth billions of dollars. Previously, FTX's Chief Executive Officer John J. Ray III had indicated that the performance of the co-investment with K5 Global would be a key driving force in the asset recovery efforts.

According to Jinshi reports, SPACEX stock continues to decline, falling 2% in pre-market trading.

Grayscale Research released a report stating that it believes the fair value of the AAVE token could rise to around $175 within a year, with the current price of $75 being undervalued.The report pointed out that DeFi protocols have generated nearly $25 billion in fees since 2023, becoming an asset class that produces real income. Grayscale categorizes crypto assets on a spectrum from pure commodities to cash flow-driven assets, with AAVE, UNI, and SKY being closer to cash flow assets. The report noted that Aave's protocol revenue has grown over 6.6 times in the past three years, with an operating profit margin of about 50%. The report expects Aave to earn about $60 million in revenue by 2026, and based on a fintech company price-to-earnings ratio of 20-25 times, the current fair value market cap is estimated at $1.2-1.5 billion, corresponding to a token price of $80-100. If regulatory clarity accelerates the adoption of tokenized assets, the fair value of AAVE could rise to $175 within a year.Grayscale also pointed out that the accumulation of DeFi value is usually achieved through burning, buybacks, rebates, and staking, and that protocol revenue alone is insufficient to determine token value.

According to Jinshi reports, Federal Reserve Chairman Waller stated that persistently high prices are a burden.

According to Jinshi reports, the Federal Reserve FOMC statement indicates that the committee will commit to achieving price stability.

Digital asset infrastructure provider BitGo (BTGO) announced a $50 million stock buyback plan on Wednesday, causing its stock price to rise by as much as 20%. The plan allows BitGo to repurchase up to $50 million of its common stock through open market purchases, privately negotiated transactions, and block trades, accounting for approximately 8% of its outstanding shares. The company stated that the plan is effective immediately and has no fixed expiration date.Despite the stock price increase on Wednesday, BitGo's stock is still down about 65% from its listing on the New York Stock Exchange in January of this year. The IPO issue price was $18, and the recent trading price is around $6.07. The decline in BitGo's stock price reflects a general weakening of investor sentiment towards digital asset-related stocks. Following last year's IPO boom for crypto companies, the prices of Bitcoin and cryptocurrencies have fallen, and market attention has gradually shifted towards AI companies and the anticipated IPO pipeline of tech companies like SpaceX (SPCX). Several crypto companies, including Kraken and Consensys, have paused their IPO efforts amid the volatility in the crypto market.

According to The Block, Benchmark Equity Research maintains a buy rating on Coinbase, with a target price of $270, representing an upside of approximately 59.5% from the current stock price. Analyst Mark Palmer stated that Coinbase's recent system updates clearly demonstrate its rapid transformation from a cyclical crypto broker to an infrastructure platform connecting the on-chain economy with traditional finance.The report highlights Coinbase's product advancements in tokenized U.S. stocks, stock and crypto options, prediction markets, AI investment tools, and agentic payment infrastructure, as well as its prior approval from the CFTC to operate as a Futures Commission Merchant (FCM), allowing it to offer global crypto perpetual contracts and options trading to U.S. clients through Deribit. Benchmark believes these initiatives further confirm that Coinbase is continuously expanding its business boundaries beyond spot crypto trading.

According to Jinshi, U.S. President Trump stated on social media that the recently reached agreement has driven U.S. stocks to soar and oil prices to plummet. He will hold a press conference in France in 45 minutes and have dinner with leaders from France and other European countries. Trump pointed out that various indicators of the U.S. economy are performing excellently, with current employment numbers reaching an all-time high, attracting over $19.1 trillion in investment.

Recently, the metal market has continued to strengthen, with gold and silver prices maintaining high volatility. According to market data from the Gate platform, silver (XAG) reached a 24-hour high of $71.24, currently reported at $70.40, with a 24-hour increase of 1.25%; gold (XAU) reached a 24-hour high of $4355, currently reported at $4340.45, with a 24-hour increase of 0.49%. According to CoinGlass data, the open interest for Gate XAG contracts reached $78.3465 million; the open interest for Gate XAU contracts reached $148 million, both ranking among the top two in the industry.

According to Caixin, Citigroup has raised Micron Technology's target price from $840 to $1200.

CryptoQuant analyst Darkfost stated that after the recent rebound in Bitcoin prices, miner selling pressure has returned, as evidenced by a significant increase in miner inflows to Binance. Darkfost pointed out that miner hash rate has decreased by about 28% since the end of October last year, along with a 20% difficulty adjustment. Currently, the production cost is about $76,000 while the Bitcoin trading price is about $65,000, resulting in most miners operating at a loss and being forced to sell coins.

According to reports from major companies, ByteDance's Seed department has internally issued a notice announcing the latest adjustment to the price of "Doubao Stock," with the new price set at $14.85. Compared to the initial announcement of $13.08 in April this year, the price of this virtual equity has increased by 13.5% within two months.It is reported that "Doubao Stock" is an exclusive virtual equity of ByteDance Seed and related upstream and downstream businesses, typically opening buyback windows about twice a year. In comparison, the regular option prices of ByteDance adjusted from $229.5 to $235.5 between April and June this year (an increase of about 2.63%). The valuation growth rate of "Doubao Stock" during the same period has significantly surpassed the overall options of the company.With the continuous growth of the Doubao large model in user scale and commercial revenue, this option may break the previous fixed frequency of "adjusting every six months" and welcome more flexible and frequent pricing adjustments in the future.

According to Onchain Radar monitoring, as the HYPE price continues to rise, HYPE short positions are about to face liquidation. Here are 4 wallets with liquidation prices in the $75-$76 range (with a 1%-4% gap from the liquidation price line), totaling over $12 million in holdings: 0x37f2af56f635c108aa1324402c17ec0e9e3ee9af 0x9f07dc88dc450978e5ddf973f6a0236a7cfbf99a 0xa8cde6a19789e4d7964ce0e3da14aa29291d7275 0x7079b5814032c0b02425135f06f32a0084cdf2d2.

According to Gate market data, Tesla's stock price fell 1.5% in pre-market trading, after rising for three consecutive trading days.

Mike Selig, the Chairman of the U.S. Commodity Futures Trading Commission (CFTC), posted on the X platform to clarify several misunderstandings in the market regarding perpetual futures contracts and to address the controversy arising from the recent approval of related contracts by the CFTC. Mike Selig stated that the Commodity Exchange Act and relevant CFTC rules do not explicitly require that "futures contracts" must have a fixed expiration date or delivery date. Since Congress has not clearly defined this term, the identification of futures contracts is primarily based on judicial precedents and CFTC interpretations, and a fixed expiration date is not a necessary condition.In response to the claim that "the CFTC-approved BTCPERP contract allows U.S. users to use 250 times leverage," high leverage is not a characteristic of the perpetual contract structure itself, but rather a feature of the previous offshore trading model. Perpetual contracts regulated by the CFTC will adhere to the same leverage limits as other regulated futures products.Regarding the criticism that "the CFTC did not provide opportunities for industry participation and feedback," the CFTC publicly solicited opinions on "perpetual contracts" and "24/7 trading" in April 2025 and received over 100 responses from industry participants, including several CFTC-registered entities. Additionally, concerning the view that the funding rate mechanism is believed to incur high costs and induce undesirable market behavior, after considering the costs of opening positions and rolling over traditional term futures contracts, the annualized holding cost of the perpetual contract funding rate is roughly equivalent to that of traditional futures. The funding rate mechanism actually helps maintain price anchoring.

According to monitoring by Catcher Predict, in the event "Bitcoin will be above a specific price on June 16" in the prediction market Polymarket, the win rate of the sub-market "66,000" for the "Yes" option has experienced significant fluctuations, soaring from 43.5% an hour ago to the current 63.5% (a fluctuation of 20%). Please note the impact of related breaking news.