The SPCX perpetual contract on Hyperliquid, a key indicator for SpaceX's upcoming IPO, has dropped about 27% since mid-May but remains above the $135 IPO price, implying a 16% expected first-day premium. This decline from a 60% premium reflects broader crypto market weakness and investors raising cash for the heavily oversubscribed $75 billion offering. The SPCX contract is a cash-settled derivative without share claims, serving as a rare price discovery tool since SpaceX set a fixed IPO price with no bookbuilding range. Despite the drop, strong investor interest continues, with over $250 billion in demand for the IPO.
Oil prices are rising sharply due to renewed US naval blockades on Iranian shipping and increased tensions in the Strait of Hormuz, a critical oil transit route. Brent crude is holding above $85 and WTI above $80, with forecasts suggesting WTI could ...
The US government announced it will impose a new 25% tariff on Brazilian ethanol starting next Wednesday, accusing Brazil of unfair trade practices. This tariff excludes major Brazilian exports like oil, beef, coffee, and aircraft parts. The move fol...
Alibaba and Baidu shares rose after Apple received approval from China's Cyberspace Administration to include Apple Intelligence, integrating Alibaba's Qwen AI model and Baidu's AI features into Apple devices in China. This partnership allows users t...
Ondo Finance has introduced the first tokenized stock representations backed by DTCC tokenized entitlements, joining major financial firms in a significant tokenization initiative. This move highlights Ondo's unique position in building infrastructur...
Leading Japanese companies, startups, and research institutions are developing specialized AI models using NVIDIA Nemotron open models to address Japan's unique language, industrial, and workforce challenges. These AI applications range from enterpri...
