Securities and Futures Commission of Hong Kong: Licensed Hong Kong Companies Can Still Serve Existing Mainland Chinese Clients, But Cannot Provide Services Within Mainland China

On June 10, per data from CME’s FedWatch Tool, the probability of the U.S. Federal Reserve raising interest rates at least once this year stands at 68.8% ahead of tonight’s May consumer price index (CPI) release by the U.S. Bureau of Labor Statistics (BLS). The breakdown of projected rate hike probabilities is as follows: 43.1% for a cumulative 25-basis-point increase, 21.2% for 50 basis points, 4.2% for 75 basis points, and 0.3% for a 100-basis-point hike. The BLS is scheduled to unveil May CPI figures at 20:30 ET tonight. Market consensus forecasts May CPI will rise 0.5% month-over-month (MoM) and 4.2% year-over-year (YoY). Should this expectation hold, it would mark the first time U.S. CPI has returned above the 4% threshold since May 2023, hitting its highest level since April of that year. For core CPI, the market projects a 0.3% MoM increase and a 2.9% YoY growth rate in May.

June 10: According to a report in *The Wall Street Journal*, the U.S. Commodity Futures Trading Commission (CFTC) plans to propose a new set of rules to regulate prediction markets. The proposed rules would keep most sports-related prediction markets operational while aiming to prevent large-scale market manipulation.

June 10: Bitget data shows that ahead of the U.S. stock market open, stocks in the "Huang Renxun's Strict Selection Stocks" basket were mostly lower, with declines including: Intel (INTC) down 3.33%; Nebius (NBIS) down 3.23%; Nokia (NOK) down 2.99%; Marvell (MRVL) down 2.95%; CoreWeave (CRWV) down 2.88%; IREN (IREN) down 2.87%; Coherent (COHR) down 2.38%; and Corning (GLW) down 2.25%.

June 10 — Bitget announced in an official statement that the platform has launched trading for 89 stock-linked tokens, including rWMT (Walmart), rBAC (Bank of America), rFIG (Figma), rBLK (BlackRock), rF (Ford), and rAAL (American Airlines), among others. These tokens, called "rTokens" (identified by an "r" prefix followed by the underlying stock’s ticker, such as rNVDA for Nvidia), are issued by Bitget’s licensed RWA (Real-World Asset) protocol, Reality. Via a partnership with compliant brokerage Alpaca, the rTokens are directly connected to global liquidity pools including the Nasdaq and New York Stock Exchange (NYSE). Key features of the offering include: a 1:1 reserve of the underlying stock held by a licensed custodian; stock dividends distributed as tokens at a 1:1 ratio; support for corporate actions (like stock splits and mergers) with real-time synchronization; and the ability to use positions as collateral for unified accounts and U.S. dollar-denominated ("U-based") contrac

June 10: Per LookOnChain’s monitoring, a whale holding a $147.6 million short position on the S&P 500 has begun taking profits. The entity has closed out $52.45 million of its S&P 500 short position, locking in a realized profit of $561,000. It continues to hold a remaining $94.07 million short position on the index, with an unrealized profit of $1.49 million.

On June 10, Binance adjusted the contract amount for its SPCXUSDT U Inverse Perpetual Pre-IPO contract. Per the exchange’s announcement, SpaceX’s estimated share count was revised from the prior 11.87 billion to 13.08 billion shares. Currently, SPCX is priced at $157.64; based on this adjusted share quantity, SpaceX’s valuation stands at approximately $2.06 trillion.