Bill Ackman: Supporting Trump and Musk, Both Benefit from Cooperation and Suffer from Division
On June 6th, the investment tycoon and CEO of Pershing Square, Bill Ackman, expressed on social media that he is in support of U.S. President Trump and also backs Musk. He holds the view that for the well-being of the United States, they should coexist in peace. When people unite, they will be stronger than when they are divided. (FX678)
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CITIC Securities: Policy Tailwinds for Stablecoins Expected to Benefit Cryptocurrency Upside
June 6th. A recent research report by CITIC Securities indicated that recent developments have taken place in the legislation of stablecoins in the United States and other countries. The report holds the view that the Trump administration is promoting cryptocurrency-related bills with three intentions: to assist families in accumulating wealth and fulfill campaign pledges, to promote the expansion of the stablecoin market in order to relieve the pressure of insufficient demand for U.S. debt, and to strengthen the linkage between stablecoins and the U.S. dollar in order to delay the process of de-dollarization.
Consequently, the normalization process of stablecoins is anticipated to continue. The expansion and development of the stablecoin market serve as a medium- to long-term positive factor for the cryptocurrency market. Nevertheless, the accelerated upward trend of cryptocurrencies may need to await policy certainty from the Trump administration. (Jinse)
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Coinbase to Add FARTCOIN and Subsquid (SQD) to Listing Roadmap
On June 6th, according to official channels, Coinbase announced early this morning that it will include FARTCOIN and Subsquid (SQD) in its listing plan.
Based on the available information, FARTCOIN is a meme coin within the Solana ecosystem.
The Subsquid Network is a decentralized data lake and query engine aimed at providing developers with high-performance and permissionless data access.
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Uber CEO: Considering Adopting Stablecoin to Reduce Operating Costs
On June 6th, Uber's CEO recently made an announcement that the company is giving thought to utilizing stablecoins in order to cut down on operating costs. He holds the view that the growth of stablecoins is highly promising, especially for global enterprises.
Uber is a globally renowned American technological company that mainly provides ride-hailing, food delivery, and freight services. (Cointelegraph)
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A whale went long on the "buying the dip" after James Wynn's liquidation, facing a realized loss of $17.08 million
June 6th. As per Ashes Monitor, a whale employed a tactic referred to as "buying the dip" subsequent to a liquidation event in James Wynn's position. It managed to regain $17.08 million in profit through a liquidation cascade that took place two and a half hours earlier.
The whale implemented this strategy twice following liquidation events in James Wynn's position, going long on both BTC and ETH. The approach involved leveraging the liquidation event. It opened a long position immediately after James Wynn's position was liquidated yesterday at midnight and augmented its position after James Wynn's position was liquidated and closed today at 1 a.m.
However, as the price kept declining, it opted to cut its losses and close its position two and a half hours ago. This decision led to a $17.08 million loss on this specific long trade. After this profit-taking event, its profits in the past 21 days have decreased from $30 million to $13 million.
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In the past 24 hours, there have been liquidations totaling $968 million across the entire network, with over 225,000 people being liquidated.
On June 6th, based on Coinglass data, within the past 24 hours, the entire network witnessed liquidations totaling $9.68 billion. Among them, long liquidations accounted for $8.8 billion.
In addition, a total of 225,990 people were liquidated globally. The largest single liquidation took place on Bitmex - XBTUSD, with an amount of $10.00 million.
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