Coinbase Bitcoin Backwardation Index Expands Rapidly, U.S. Buying Pressure 'Gradually Wanes'
As of June 2, data from Coinglass shows that the Coinbase Bitcoin Premium Index has ended its mild easing trend that ran from February to May, resumed weakening since May 8, and recently expanded rapidly to a temporary level of -0.1323%. Purchasing power in the U.S. market has once again slipped into a sustained low.
The Coinbase Bitcoin Premium Index tracks the gap between Bitcoin’s price on Coinbase and the global average market price. A negative premium typically signals notable selling pressure in the U.S. market, reduced investor risk appetite, rising market risk aversion, or capital outflows.
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Former US Presidential Candidate's Noble Acquires Helium Mobile, Targeting the Low-Cost Mobile Communications Market
On June 2, mobile communications provider Helium Mobile—built on the decentralized, encrypted Helium network—has been acquired by Noble Mobile. Founded by American entrepreneur and former U.S. presidential candidate Andrew Yang, Noble Mobile is focused on making communication services universal and accessible.
Helium Mobile previously offered a free mobile plan, which has since been discontinued. The company notes it shares Noble Mobile’s core goal of improving the affordability of communication services. After the acquisition, both parties plan to continue rolling out low-cost mobile plans, aiming to take on traditional telecom giants through more competitive offerings.
Frank Mong, Helium Mobile’s chief operating officer, said: “We chose Noble Mobile because our two sides are highly aligned on values, long-term development vision, and management approach. We believe this acquisition will help further expand the market coverage of our decentralized communications network and accelera
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Yi Li Hua: AI Syphon Effect Emerges, Crypto Market Enters Bottoming Phase
June 2: Yi Lihua, founder of Liquid Capital (formerly LD Capital), remarked: "Bitcoin’s price drop has been smoother than anticipated. The biggest bearish factor is capital flowing out of the stock market. Compared to AI— which boasts unlimited growth prospects and solid fundamentals— narrative-driven cryptocurrencies have fallen from being a 'darling' to a has-been."
"The next several months will be a period of bottoming out and sideways trading for the crypto market. This phase will continue until all market positions have been fully settled and the majority of major investors have exited. During this time, prioritize learning about and investing in AI, while executing a strategy of gradual bottom-fishing in the crypto space."
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Masayoshi Son Reclaims Title of Asia's Richest Man
June 2: Forbes’ real-time billionaire rankings show Masayoshi Son, founder and CEO of SoftBank Group, has a net worth of $100.7 billion—surpassing Indian tycoons Ambani and Adani to reclaim the title of Asia’s richest person for the first time in over a decade.
SoftBank’s share price surged 14.71% yesterday, pushing its market capitalization to 48 trillion yen (roughly $306 billion). This figure exceeds Toyota’s approximately 46 trillion yen, officially ending Toyota’s more than 20-year reign as Japan’s largest publicly traded company by market value.
As of the Tokyo Stock Exchange’s closing bell today, SoftBank’s market cap has climbed further to 49.3 trillion yen, while Toyota’s stands at 44.92 trillion yen.
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Strategy Plunges 10%, Shattering the 'HODL' Myth
On June 2, Bitget market data shows that Strategy (MSTR) plunged 10.17%, changing hands at $134.55 as of press time.
A report yesterday revealed that Strategy has shattered the so-called "HODL" myth, disclosing it sold 32 bitcoins last week.
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