6.03 All-In Morning Brief: Playing the U.S. stock market really is different—recent U.S. stocks have been terrifying, with $ARM followed by $MRVL; guys, did you enjoy it? 1. Bitcoin:native dropped too late—it only began falling after confirmation of selling, completely unlike the crash-style rally seen in U.S. stocks; 2. Ethereum:native must drop even harder—no reason needed; 3. Solana:So11111111111111111111111111111111111111112—finally looks like trash; 4. Tom Lee predicts: As corporate validators take control of the network, Ethereum’s price will reach $250,000; Illusion of being trapped? 5. Tensions in the Middle East escalate: Iran launches missiles at U.S. vessels; U.S. military bases in Kuwait and Bahrain are attacked; Rubio: U.S.-Iran talks continue; timing of any agreement remains uncertain; 6. Goldman Sachs CEO: Greed outweighs fear in the market; Everyone fears missing out and is chasing higher prices; 7. Fed Chair Walsh appoints two conservative advisors; 8. Robinhood officially enters Canada after completing its acquisition of WonderFi; Robinhood announces a press event on July 2 to unveil its next-generation crypto-financial products; 9. Concerns over stablecoin depegging bring New York and EU regulators closer together; 10. All three major U.S. stock indices closed higher; blockchain stocks broadly declined; 11. Crypto derivatives trading volume will decline to late-2023 levels, but opportunities emerge in the U.S. perpetual margin market; Makes sense—nobody plays crypto anymore; everyone’s chasing U.S. stocks. Otherwise, why would crypto platforms even list U.S. stocks? 12. Ethena selects Anchorage as its secure off-chain collateral custodian for institutional lending expansion; Coinbase Ventures makes its first investment in ENA; Ethena will collaborate with Coinbase to develop on-chain financial and savings products; 13. CFTC Chair seeks to withdraw the $5 million settlement with Gemini; 14. U.S. Senator Sanders proposes establishing an AI sovereign wealth fund, aiming to impose a 50% equity tax on leading AI companies; Interesting—similar in spirit to nationalizing domestic tech; 15. U.S. exchange operators decline amid concerns over perpetual futures risk; CBOE Global Markets falls 9%; 16. The Clarity Act has been added to the U.S. Senate legislative agenda; next step is full Senate vote; 17. JackYi: The coming months will see crypto bottoming and consolidation until all positions are fully distributed and most participants exit; Is Lao Yi really that powerful now? Just got done dumping a few days ago; 18. Ondo’s RWA perpetuals platform, Ondo Perps, launches on June 9; So this is the only good news? ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3 ------------- Only yesterday did I realize many crypto brothers have finally become interested in U.S. stocks—finally awed by their crash-style rallies. A market where you make money no matter what you buy is far better than one where you strain to earn anything. #Bitcoin #Ethereum #Solana #Crypto #Nasdaq