Intel CEO: CPU Demand Continues to Rise, Many Company CEOs Calling for More Supply

June 2 – Iranian media reported Tuesday that the Strait of Hormuz’s vessel passage permit application system has been fully opened, allowing global ship owners and captains to submit transit requests 24/7. According to the reports, ship operators can file their applications through an electronic system set up by the strait’s managing authority. Once approved, vessels will receive official passage permits.

On June 2, SpaceX is pushing the banks underwriting its upcoming initial public offering (IPO) to agree to a record-low underwriting fee, according to market sources. The company is in talks with its IPO underwriters to secure a rate of less than 0.75%. Even with the reduced fee, the banks involved could still generate roughly $500 million in revenue from the offering.

On June 2, Federal Reserve official Harker noted that holding interest rates steady is the appropriate move at this time. If high inflation persists, a larger adjustment may be necessary. Should the inflation trend fail to cool down, the Fed might need to take action promptly. (FX168)

June 2 — Bitmine Immersion (BMNR) Chairman Tom Lee stated in a recent interview that current market jitters over institutional trends and insider selling are more indicative of a market bottoming out than a sustained bearish trend. Lee downplayed market concerns about Michael Saylor, Chairman of Strategy Execution, selling 32 Bitcoin during Tuesday’s interview. “Michael had already made his plan to sell some Bitcoin public earlier, so this is just him following through on that pre-set schedule,” Lee explained. “At the end of the day, he still holds 99.99% of his total Bitcoin holdings—he only generates real profits if Bitcoin’s price rises.” Saylor sold the 32 Bitcoin at an average price of roughly $77,135, netting around $2.5 million to cover preferred stock dividends. This marks Strategy’s first Bitcoin sale in nearly four years, sparking market speculation that this prominent corporate Bitcoin holder might be shifting its long-term hodling strategy.

On June 2, per a CNBC report, prediction market platform Polymarket has closed its first large-scale institutional transaction linked to AI compute power infrastructure. The six-figure U.S. dollar deal was executed by digital asset broker FalconX and trading tech startup Anera Labs. The contract ties to the Ornn Compute Price Index—a key benchmark tracking rental rates for NVIDIA H100 GPU chips, the primary metric for measuring AI compute costs. “Prediction markets are fast emerging as one of the most promising platforms for institutions to conduct large-volume trades, and this transaction is clear proof,” said Brooke Rizzetto, Polymarket’s Head of Institutional Liquidity. “To see institutional trading counterparties leverage Polymarket to hedge massive real-world GPU compute power exposure is exactly the future we’ve been working to build.”

June 2: Glassnode shared in a recent post that Bitcoin has dropped to $69,500, with long-term holders currently facing a 15.5% average relative unrealized loss. To put that in context: For every $1 worth of Bitcoin long-term investors hold, they’re currently sitting on roughly $0.155 in average unrealized losses. During the extreme bottom phases of past market cycles, this metric has climbed above 50%—meaning back then, each $1 of Bitcoin held translated to over $0.50 in paper losses. While the data shows there is some pressure building in today’s market, the level of pain long-term holders are experiencing hasn’t hit the typical thresholds seen at historical cyclical lows. In other words, based on the loss situation of long-term Bitcoin holders, the market hasn’t flashed the widespread, deep “surrender sell-off” signals that usually mark the end of past bear markets.