A man in Hebei Province, China, illegally raised funds using the concept of the "Metaverse" and was sentenced to five years and four months in prison

June 17: Per monitoring from Onchain Lens, a single crypto address withdrew 88,350 HYPE tokens (valued at $6.4 million) from centralized exchanges OKX, Gate, Kraken, and Bybit. Additionally, since June 1, this same wallet has pulled a total of 1,229,524 HYPE tokens (worth $85.54 million) from those platforms and staked the full amount.

June 17 Update: According to monitoring from Hyperinsight (via its Telegram channel at https://t.me/HyperInsight), an address on the Hyperliquid exchange has established a 3x-leveraged long position on Micron Technology (MU). The address currently holds 25,241 MU contracts, with a total position value of roughly $26.7 million. The average entry price for the trade is $924.9, and unrealized profits from the position total $3.42 million—this makes the address the largest individual MU holder on Hyperliquid. Market data on Hyperliquid shows MU is trading at $1062, with a $178 million trading volume, making it the second most actively traded asset on the platform (only SPCX has higher volume). During the U.S. pre-market session (timed from 16:00 ET onward), MU experienced a slight 1.1% pullback. The relevant address is: 0x9dcf1c87b82a35519a430457c1157f21e68f302d.

June 17 — Michael Burry, the legendary investor who inspired *The Big Short* for his prescient bet against the U.S. housing market ahead of the 2008 crash, said yesterday he does not hold any shares of SpaceX. Even as he questions the aerospace firm’s sky-high nearly $3 trillion valuation, Burry noted that shorting the stock remains prohibitively expensive. Burry laid out the cost of key put options to illustrate: Contracts with a $100 strike price expiring in December 2028 trade at roughly $25 apiece, while SpaceX stock is changing hands at about $212. A comparable put option set to expire in June 2027 costs around $13 per contract, and a December 2026 put goes for $6.75. He added he was tempted to pull the trigger on a position, but ultimately decided against it. His best-case scenario? If the SPCX index stabilizes around the mid-$200 range, it would lower volatility across the entire put option chain.

June 17th: CryptoQuant analyst IT Tech’s data reveals altcoin selling pressure on spot centralised exchanges (CEX) has hit a five-year extreme. The spot crypto market has logged 15 consecutive months of net outflows. The cumulative difference between buying and selling volumes for altcoins—excluding Bitcoin (BTC) and Ethereum (ETH)—has fallen to the deepest negative level since tracking of this indicator began in 2020. This metric had nearly reached equilibrium in early 2025, then turned sharply negative again and has continued to decline steadily since.

June 17 — According to data from Hyperinsight Monitor (https://t.me/HyperInsight), a Bitcoin (BTC) short whale closed out their position at roughly breakeven on June 17, with the trade generating a small realized profit of around $110,000 after BTC dipped below the whale’s cost basis. The whale’s initial short position size stood at 175.3 BTC, equivalent to $11.37 million when opened, and the position was closed at a price of $64,931. Related Wallet Address: 0x931153baac031d055389b41d12cd32c9bf0ae7a3

On June 17th, Bitget market data indicates SK Hynix reached a new all-time high, rallying 5.84% on the day. Fueled by this news, most U.S. AI stocks were higher in pre-market trading. Micron climbed 3.84% pre-market, while Nvidia added 0.47%. In the optical communication sector, AAOI advanced 3.1% in pre-market, LITE rose 1.91%, and GLW gained 1.62%. Among storage equities, SNDK jumped 2.93%, WDC advanced 2.48%, and STX climbed 2.68%.