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The US Stock Market and Cryptocurrency Market are in Turmoil, Stock Market Gurus and Whales Unable to Escape Market Correction

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June 5th: Turmoil in U.S. Stocks and Crypto Markets Today Per Bitget data, the Nasdaq Composite dropped 2% intraday, with AI blue-chip stocks leading losses. Nvidia slid nearly 4%, Micron Technology tumbled almost 6%, and Intel plummeted more than 6%. Serenity, dubbed the "New Stock God," saw their heavily held stock AAOI edge down just 0.37% on the session, though most of their other positions fell over 5%. Core holdings faced steeper declines: SIVE plunged 8.93% and NBIS dropped 8.01%. Huang Renxun’s pick for the next trillion-dollar market cap standout, MegaWell Technology, tumbled nearly 8% as well. Leopold Aschenbrenner—referred to as the "U.S. Stock Prodigy"—saw his Situational Awareness LP’s new holding TE crash 14.71% today, while HIVE slid 13.16%. Notably, the fund significantly added to bearish options on AI blue-chips this quarter. Turning to crypto, multiple large holders (whales) face liquidation risks. One whale, dormant for five years, opened a leveraged long Ethereum (ETH) position four months ago. The two linked addresses hold 104,772.57 WETH in total as collateral, having borrowed $135 million in USDT (including 24,500 units). Their liquidation prices are $1,555.04 and $1,565.72, respectively. Separately, an address linked to BIT carries $78 million in unrealized losses from a long position of 120,000 ETH. BlockBeats warns users that the market is highly volatile, urging caution when making investment decisions.
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No surprise, the "Buddy" account was partially settled again half an hour ago, with the account now holding only $15,000

June 5: Per Hyperinsight monitoring, the crypto trader known as “buddy” had actively cut leverage to avoid liquidation, but its liquidation price was too close to the market price—resulting in a partial liquidation of its Ethereum long position half an hour ago. Separately, “buddy” transferred $12,500 to Hyperliquid an hour ago. The collateral value of its long position now stands at only $15,287.62, with 352 ETH held in the long position.

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Securitize’s SPAC Merger Approved by SEC

June 5 — Securitize has announced that the U.S. Securities and Exchange Commission (SEC) has declared effective its Form S-4 registration statement related to the planned merger with SPAC company Cantor Equity Partners II. This development marks a major milestone in Securitize’s public listing process. Shareholders of Cantor Equity Partners II (CEPT) will hold a special meeting on June 29, 2026 to vote on the merger proposal. If approved, the transaction is expected to close shortly after. Upon completion, the combined company will operate under the name Securitize Corp. and trade on the New York Stock Exchange (NYSE) under the ticker symbol “SECZ.”

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Bitwise CIO: US Stocks, Crypto Down in Tandem Possibly Due to Mega IPO

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SEC and CFTC Jointly Advance Tokenized Securities Regulatory Framework Based on the Principle of "Innovation Without Regulatory Arbitrage"

June 5: The U.S. Securities and Exchange Commission (SEC) released a statement, with Division of Trading and Markets Director Jamie Selway delivering remarks at the Piper Sandler Global Exchange & Fintech Conference to outline the agency’s regulatory priorities during Chairman Paul Atkins’ tenure. Selway noted the SEC is developing a framework for the listing and trading of tokenized securities, guided by the core principle of "innovation without regulatory arbitrage." Separately, the SEC is collaborating with the Commodity Futures Trading Commission (CFTC) to evaluate multiple new product proposals, and conducting a joint review of ambiguous or conflicting rules across both agencies’ rulebooks. Initial focus areas for this cross-agency coordination include swaps and security-based swap data reporting, portfolio margining, and product definitions. Selway also cautioned that two pitfalls must be avoided in the regulatory process: conflating investment with gambling, and extending exces

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Bitget's web platform now supports spot trading for US stocks

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Serenity Counters Hedge Fund's SIVE FUD: Opponent Deliberately Ignores Visible Growth Prospects

June 5: Serenity pushed back against Swedish hedge fund Protean Funds’ "CPO Application Fabrication" thesis on SIVE, noting that GlobalFoundries has just designated SIVE as a reference laser—and since CPO (coherent package optics) is not yet widely commercialized, current revenues fail to reflect future growth prospects. From H2 2026 to 2028, SIVE-linked CPO Total Addressable Market (TAM) is projected to surge from near-zero to $91 billion, totaling $141 billion over the period. Companies including Jabil have entered the pluggable market, exposing short-term bears to inflection point risks.

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