Nvidia Rises 2.75% in Pre-market Trading, Company Collaborating with Samsung Electronics on ASIC Chip Development

June 8 — Bitcoin’s recent drop below the $60,000 mark isn’t driven by MicroStrategy (the top corporate Bitcoin holder) selling its holdings, but rather institutional investors pulling funds from U.S. spot Bitcoin ETFs amid renewed inflation concerns, according to Markus Thielen, founder of research firm 10x Research. Since May 12, when hotter-than-expected U.S. April CPI data was released, spot Bitcoin ETFs have seen roughly $5.4 billion in net outflows, Thielen pointed out. Over the same period, MicroStrategy — one of the few major buyers in the crypto space — added around $2 billion worth of Bitcoin to its holdings. “The market misread what’s driving this recent selloff; the issue isn’t with MicroStrategy,” he emphasized. 10x Research projects U.S. May CPI year-over-year growth will hit 4.3%, above the market’s consensus forecast of 4.2%. If the inflation data released this Wednesday comes in above 4%, it could strengthen fears the Federal Reserve will keep interest rates high or e

June 8 – Per The Information, Goldman Sachs and JPMorgan are exploring strategies for trading around computing power costs, eyeing the launch of futures products pegged to GPU rental prices.

June 8 — FTX co-founder Sam Bankman-Fried (SBF) has officially submitted a pardon application to U.S. President Trump, seeking to overturn his 25-year prison sentence stemming from the FTX fraud case, Bloomberg reports. SBF had previously repeatedly voiced his desire for a presidential pardon while actively pursuing his appeal process. Earlier this year, Trump stated he had no plans to pardon SBF, a stance the White House echoed. Now that the formal application has been filed, the process has entered a new phase.

June 8 — The widely followed self-proclaimed "White-Haired Stock Guru" Serenity pointed out that the market may have underestimated the significance of JPMorgan Chase’s disclosure of holding a stake exceeding 5.25% in Sivers (ticker: $SIVE). He noted that the $135 million investment is not sizable for a major U.S. financial institution, but Sivers’ limited outstanding shares mean institutional players are gradually absorbing positions from retail investors. Serenity added that JPMorgan’s entry sends a clear signal to other institutional investors that large funds are accumulating Sivers’ circulating shares — a move that could draw more institutional capital to the stock. Furthermore, given Sivers’ high short interest in its floating shares, short-selling firms — including some Swedish hedge funds and quant trading shops — may face significant short covering pressure (a dynamic that could trigger a short squeeze). This event once again validates the investment logic of "retail investo

June 8 — Fueled by stronger-than-expected non-farm payroll data, expectations that the Federal Reserve will raise interest rates this year have climbed sharply, triggering a 4.2% plunge in the Nasdaq last Friday. The semiconductor sector led the sell-off, sparking volatility across global markets. But Wall Street heavyweights including Morgan Stanley and Citigroup frame this pullback as a healthy adjustment, not a signal that the U.S. bull market is ending. Morgan Stanley’s Chief U.S. Stock Strategist Mike Wilson blames the recent sell-off on outsized gains in semiconductor stocks and overcrowded trading positions in the sector. The Philadelphia Semiconductor Index has rallied nearly 96% year-to-date, a jump that far outpaces historical norms and puts the group firmly in overbought territory. Wilson says the current correction will help cool excess market sentiment, but insists it won’t erode the underlying strength of the U.S. economy or corporate earnings fundamentals. Wilson cites

As of June 8, while the U.S. Senate continues hammering out details of the Digital Asset Market Clarity Act, the U.S. House of Representatives is shifting its focus to crypto tax reform this week. The House Ways and Means Committee will host a hearing Tuesday, inviting representatives from Fidelity, Coinbase, Coin Center, and New York University to discuss seven digital asset tax proposals. These proposals split the previously introduced Digital Asset PARITY Act—sponsored by Representatives Max Miller and Steven Horsford—into seven standalone bills covering distinct areas: stablecoin transactions, crypto mining and staking, lending, wash sale rules, charitable giving, and taxpayer information disclosure. Industry groups including The Digital Chamber, Blockchain Association, and Crypto Council for Innovation back this split, arguing breaking legislation into smaller chunks boosts its passage odds. Still, some industry insiders hold reservations about specific terms within the bills.