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6/25
10:57
Svmuu News: Arkham published an analysis noting that Strategy’s preferred stock, STRC, has clearly decoupled from its par value. It is currently trading at approximately $76.20, representing a discount of about 25% from its $100 par value. STRC is a perpetual preferred stock with an annualized dividend yield of approximately 11.5%. A total of approximately 104.89 million shares have been issued, corresponding to an annual dividend cost of about $1.2 billion. As of this Monday, Strategy held approximately $1.4 billion in reserve funds on its balance sheet.
Unlike the Terra (LUNA) mechanism, Strategy and its founder, Michael Saylor, do not face the structural risk of “forced liquidation.” The price of STRC reflects market expectations regarding the sustainability of future dividends rather than a forced liquidation mechanism. STRC dividend payments are not legally mandatory; therefore, if the financing environment deteriorates, the company may choose to suspend dividends, thereby avoiding a structural collapse similar to a “death spiral.”
The current decline in STRC is believed to stem primarily from market concerns regarding future financing capacity, the sustainability of dividends, and the opportunity cost of capital, rather than an immediate liquidity crisis.
Arkham noted that this mechanism does not directly threaten Strategy’s survival; however, in the long term, if high dividends rely on continuous capital market financing, it could affect the appeal of MicroStrategy’s common stock ($MSTR) to new investors.
10:49
Svmuu News: Iran has proposed charging tolls to its Gulf neighbors for passage through the Strait of Hormuz. Iran estimates that the Strait of Hormuz could generate $40 billion in revenue annually. (WSJ)
10:47
Svmuu News: According to on-chain analyst Yu Jin, following tonight’s decline in the crypto market, positions held by several ETH lending whales that are nearing the liquidation threshold are at risk of liquidation. The liquidation price for the first tier is $1,472, involving 72,700 ETH worth $114 million; The second liquidation tier has a trigger price of $1,355, involving 167,600 ETH held by whales who purchased ETH earlier this month, valued at $263 million; The third liquidation tier has a trigger price of $1,160, involving 120,000 ETH long positions held by Hyperliquid’s largest long position holder, valued at $188 million.
10:43
Svmuu News: According to market sources, with the Supreme Court having completed drafting its opinion, the ruling in the Federal Reserve. v. Cook case is expected to be announced next week. (Jin Shi)
10:40
Svmuu News: Ondo has announced the official launch of its 24/7 instant minting and redemption service for tokenized U.S. stocks and ETFs.Previously, the platform only supported a 24/5 (24 hours a day, five days a week) window for minting and redemption. With this upgrade, eligible users can now mint or redeem supported tokenized assets at current market prices at any time, including weekends and U.S. public holidays.The first batch of assets supporting 24/7 instant minting and redemption includes six tokenized stocks: SPYon, QQQon, CRCLon, NVDAon, TSLAon, and GOOGLon. These are currently available on Ethereum and the BNB Chain, with Solana support coming soon.
10:40
Svmuu News: On-chain analytics platform CryptoQuant stated that Strategy should stop buying Bitcoin and bolster its cash reserves.
U.S. stock market data shows that Strategy’s share price has fallen below the $90 mark and is currently trading at $89.9, with its market capitalization on the verge of dropping below $2 billion.
10:34
Svmuu News: On-chain security analyst Specter reported that a suspected phishing attack targeting Polymarket users is currently underway, with cumulative losses totaling approximately $2.94 million. According to his monitoring, the attacker has transferred funds from more than 11 victim wallets holding PUSD, converting the stolen assets into ETH. He also reminded users to be vigilant against phishing risks and noted that the incident is still being actively tracked.
10:32
Svmuu News: According to on-chain analyst Ai, BTC has once again fallen below $60,000,Garrett Jin, a representative of the “1011 Insider Whale,” has incurred a paper loss of $21.12 million on his 5x leveraged long position at Bitcoin. His 1,268.33 BTC were opened at $76,117,with a marked price of $59,466—a decline of 21.8%.
10:30
Svmuu News: According to Hyperbot data, due to a brief crash in the crypto market, Big Brother Ma Ji (Huang Licheng)’s 25x leveraged long position on Ethereum was at one point on the verge of liquidation,Big Brother Ma Ji has since begun adding to his position; he currently holds 151 ETH, with his unrealized loss narrowed to $5,000 and a return on investment of -52.86%.
10:26
Svmuu News: This evening, DeepSeek (DeepSeek) released a job posting stating that humanity is on the cusp of AGI, and inviting candidates to join DeepSeek to witness the development of AGI firsthand. The job postings indicate that available positions include full-stack development/algorithms, AI core system R&D, operations, product, model and data strategy product managers/engineers, deep learning researchers, and functional roles. Work locations include Beijing and Hangzhou.
Previously, several DeepSeek employees had appeared on social media platforms such as Xiaohongshu and X to recruit various types of talent, including HR@OneBigSnail and Cui Tianyi from the Harness team. Earlier, DeepSeek announced that it had completed a funding round exceeding $7 billion, with a valuation surpassing $50 billion. The funding amounts to approximately 50 billion yuan, of which Liang Wenfeng personally contributed 20 billion yuan. This large-scale hiring drive may signal that the competition for AI talent in China is intensifying further, and professionals in the AI field are now in high demand.
10:26
Svmuu News: According to data from 8MarketCap, due to a brief decline in Bitcoin, its market capitalization has slipped to 19th place in the global asset market capitalization rankings, currently standing at 1.186 trillion U.S. dollars. It is temporarily ahead of Berkshire Hathaway but trails Micron in the tech sector.
10:23
Svmuu News: According to Lookonchain’s monitoring, the market downturn led to the liquidation of a whale’s long positions. The whale’s long position of 809.9 BTC, valued at $47.68 million, and its long position of 27.92 million XRP, valued at $28.45 million, were both fully liquidated, resulting in a loss of $8.42 million.
10:10
Svmuu News: According to Lookonchain’s monitoring, a BIT-affiliated whale holds long positions in ETH and BTC totaling 120,000 ETH and 500 BTC. Due to a short-term market decline, the position is currently showing an unrealized loss of over $92.5 million.
10:10
Svmuu News: Orthogonal, an AI agent infrastructure project, announced the completion of a $4.3 million seed round led by Pantera Capital, with participation from Y Combinator, Pioneer Fund, Decasonic, Blast, Outbound, Surreal, and others.
Orthogonal positions itself as the underlying infrastructure for internet discovery, orchestration, and payments for AI agents. The platform provides AI agents with a full suite of capabilities, including service discovery, automated cross-tool task orchestration, and real-time on-chain payments. It is reported that the funds raised in this round will be used for iterative development of the core platform, expansion of the engineering and marketing teams, continued growth of the developer community, and enhancement of the AI agent interoperability ecosystem. (PR Newswire)
10:08
Svmuu News: Payward, the parent company of Kraken, has filed a motion in U.S. federal court seeking discovery of evidence from several U.S. financial institutions related to the crypto derivatives firm PowerTrade and its co-founder. In a statement, Kraken said the requested evidence disclosure would help Payward identify additional assets subject to freezing and ensure that PowerTrade and other related parties cannot continue to cause harm to other industry participants. (CoinDesk)
10:07
Svmuu News: According to Gate data, both WTI and Brent crude oil have risen by 1% intraday and are currently trading at $71.11 per barrel and $74.14 per barrel, respectively. The U.S. Dollar Index (DXY) has dipped by more than 10 points in short-term trading, trading at 101.38. Non-U.S. currencies have risen slightly.
10:03
Svmuu News: According to Coinglass data, BTC liquidations totaled $219 million over the past hour, while ETH liquidations reached $122 million. Additionally, total liquidations across the network rose to $457 million, with long positions accounting for $439 million of that total.
10:00
Svmuu News: According to Hyperbot data, Huang Licheng, known as “Big Brother Maji,” has been continuously reducing his 25x leveraged long position in Ethereum. His current position stands at only 100 ETH, with the liquidation price currently reported at $1,509 and a return on investment of -127.57%.
09:57
Svmuu News: According to data from MSX.COM, U.S. stocks opened higher but then fell, with the S&P 500 turning negative. As of now, the Dow Jones Industrial Average is up 0.44%, the S&P 500 is down 0.13%, and the Nasdaq's Composite Index is down 0.73%. Micron Gains in the tech sector narrowed to 10%, after earlier rising as much as 20%.
09:56
Svmuu News: According to Coinglass data, liquidations across the entire network totaled $233 million in the past hour, with long positions accounting for $219 million and short positions for $14.71 million. with BTC liquidations totaling $99.31 million and ETH liquidations totaling $56.11 million.

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