Spot and Futures Linkage Sparks Controversy, VELVET Token Faces Significant Selling Pressure Following Short-Term Surge

June 11: Ondo Finance has tapped John Hoffman, a former Invesco ETF executive, to lead its tokenized investment portfolio business. Hoffman joins the firm as Managing Director and Head of Product Portfolios, bringing over from his previous role as Head of Distribution and Partnerships at Grayscale Investments. His primary focus will be building and rolling out tokenized investment portfolios—including collaborative projects with asset management firms and strategies centered on Ondo’s existing product offerings.

June 11 — Independent research firm New Street Research has initiated coverage of SpaceX, setting a $165 target price for the private space firm.

On June 11, Bitcoin treasury firm Nakamoto announced it has bolstered its capital structure and financial flexibility through debt reduction, refinancing, and a stock buyback authorization. Through liquidating a portion of its Bitcoin holdings and Bitcoin-related derivative positions, the company cut its outstanding debt by roughly $45 million. The repayment funds came from selling approximately 600 BTC and associated derivatives, which yielded a net gain of around $48 million. Post-transaction, Nakamoto still holds roughly 4,467 BTC on its balance sheet. Separately, Nakamoto has signed a new loan term sheet with Payward Interactive—a subsidiary of Kraken—extending roughly $105 million in USDT principal, with the loan now maturing on June 30, 2027. Its remaining outstanding USDT balance stands at $165 million, $60 million of which is scheduled to mature on December 4, 2026. Additionally, Nakamoto’s board of directors has greenlit a $25 million stock buyback program, valid through Dec

On June 11, U.S. President Trump stated, "A larger-scale bombing will be launched tonight. Iran is finished, and we do not plan to send ground troops," according to a report from Xinhua Finance.

June 11 — According to The Information, Google is weighing whether to tap Samsung Electronics as a key supplier for a component of its upcoming high-end AI chip. Amid persistent manufacturing capacity limits, chip firms are being pushed to find partners beyond TSMC. Sources close to the matter told the outlet that the U.S. tech giant is in discussions with Samsung, planning to have the South Korean firm use its 2-nanometer production technology to manufacture parts of Google’s next-generation Tensor Processing Unit (TPU). TPUs are Google’s custom AI chips built specifically for its cloud data centers.

June 11 Persistent inflation pressures tied to the ongoing Iran conflict pushed U.S. producer prices up at their fastest pace in more than three years in May, new data shows. Released Thursday, U.S. Bureau of Labor Statistics figures put May’s producer price index (PPI) at a 6.5% year-over-year jump—the largest increase since November 2022—with a 1.1% monthly rise. Core PPI, which strips out volatile food and energy costs, climbed 4.9% year-over-year. The data underscore mounting strain from the energy price shock triggered by the closure of the Strait of Hormuz on the U.S. economy. With the Iran conflict showing no sign of a near-term resolution, businesses are passing higher energy and transportation costs to consumers, driving up prices for other goods and services. Pairing this with May consumer price data released earlier this week— which showed the fastest rise in U.S. consumer prices in three years—Thursday’s PPI report could further cement market expectations that the F