Korean investors have never borrowed such a huge amount to buy stocks: South Korea’s margin trading and short-selling (securities financing and margin trading) scale has surged to about $26 billion, a record high, and has doubled since the beginning of 2025. However, the ratio of margin trading and short-selling to South Korea’s free-float shares (the portion of market value available for public trading) has fallen to about 0.8%, the lowest level since the COVID-19 trough in 2020. This is because the growth rate of market value has far outpaced the growth rate of leverage. Meanwhile, during the recent market pullback, the daily forced liquidation rate jumped to 4–5% of the outstanding margin trading and short-selling balance, far above the roughly 1% level seen in normal conditions. This means that, as borrowers are unable to meet margin call requirements for additional collateral, brokers are forced to liquidate 4%–5% of their margin trading positions within a single day. Record-high leverage has intensified volatility in the South Korean market.
The U.S. invested $2,000,000,000 in these 9 quantum companies: 1. International Business Machines (IBM) 2. GlobalFoundries (GFS) 3. D-Wave Quantum (QBTS) 4. Rigetti Computing (RGTI) 5. Honeywell International (HON) 6. Quantinuum (QNT) Can quantum computing withstand market volatility and shake U.S. stocks?
Latest news: Citi has raised its target price for Sandisk (SNDK) from $2,025 to $2,500.
Rationale for the upgrade: The company will benefit from a better pricing environment, as well as sustained strong demand for data centers driven by AI.
Nearly 50,000 BTC were transferred to exchanges while holders were in losses. Meanwhile, the stress level among short-term BTC holders has risen to a two-year high. The market is worried that BTC may face another round of large-scale panic selling, pushing it down toward new lows.
Every day, people train the four most essential foundational ways of thinking behind Web3
Explain it in a more everyday, straightforward way:
① Everything can be turned into a tradable asset
No matter whether it’s an old phone, limited-edition blind boxes, signed photos, or even a string of account passwords—so long as someone wants it, can put a price on it, and can complete a deal, it becomes an asset.
For Web3 RWA (tokenizing real-world assets), Xianyu already made everyone comfortable with this: things don’t have to be new or official. As long as they’re “identifiable + in demand,” they can be priced and circulate.
② Real value doesn’t depend on whether you have it—it depends on whether you can sell it
Stockpile as many limited items, trendy collectibles, or virtual goods as you want; if nobody will take them, they’re just worthless paper.
The daily bargaining, listings that don’t sell (no buyers), and flash sales on Xianyu are all training liquidity thinking: value ultimately has to be proven through completed transactions—not kept alive in a feeling of “having it.”
③ Prices aren’t set by the “boss”—they’re created collectively by belief
For the same item, Tmall might list it at 1,980, while on Xianyu it could go for 2,800—or no one buys it at 300.
Why? Because a group of people, at a certain point in time, collectively decides it’s worth that price.
This is exactly the same logic as Memecoins, NFT floor prices, and community tokens: consensus gives you pricing power.
④ After you sell, it truly belongs to the buyer—not the platform
Traditional platforms (Taobao, Douyin, Xiaohongshu): when you buy something, build your fan base, and grow your account, the platform can limit traffic, ban you, or change the rules at any time—ownership is always “rented.”
Xianyu is still centralized, but once the transaction is complete, ownership of the item clearly transfers to the buyer. Web3 goes one step further: on-chain assets are controlled by your private keys—only then are they truly “yours.”
The Xianyu you use every day was already helping you preview Web3.
Ma Ji Big Brother sells BAYC to rescue an ETH long position, and on-chain data is exposed
According to on-chain data, Taiwan’s well-known investor Ma Ji Big Brother has recently sold 1 BAYC to add collateral in order to prevent his ETH long position from being liquidated, while continuing to increase his ETH long exposure.
Key data: - Historical cumulative losses of approximately US$33.85 million - Sold 1 BAYC in exchange for about 10 ETH - Use of funds: adding collateral + buying more ETH on dips
Ma Ji Big Brother posted and urged: “We’re going to need more Tom.” The market generally believes that “Tom” refers to Tom Lee, who is long-term bullish on the crypto market, with hopes that the market will see a strong rebound.
Takeaway: In a high-leverage environment, even whales must continuously adjust their asset allocation to maintain their positions. The “shifting of assets” between NFT blue chips and contract long positions is becoming a typical playbook in a bear market.
Bitmine (stock ticker BMNR), the custodian company, was officially added to the Russell 1000 index today.
Founded by Tom Lee, the company positions itself as the world’s largest Ethereum custodian. The Nasdaq listing is seen as an important milestone, and market observers expect it to attract institutional capital inflows, further strengthening ETH’s position in TradFi asset allocation.
Polymarket hit by phishing attack: 11 user wallets lost about $3.1 million PUSD
The prediction market platform Polymarket has reportedly suffered a phishing attack. According to blockchain intelligence firm AMLBotHQ, 11 user wallets were compromised, resulting in losses of about $3.1 million in PUSD tokens.
Funds flow: The stolen funds were quickly transferred from the Polygon network to the Ethereum network.
Platform response: Polymarket has pledged to fully reimburse affected users and cover the losses caused by this hack.
Another reminder: Do not click authorization links from unknown sources. Regularly check the authorization status of your wallet, and for large assets, consider using a hardware wallet for isolated storage.
Community Buzz: The “Black Hole Rotation” Theory Between Satoshi, BTC, and ZEC
Recently, a set of bold speculations circulating in the crypto community has the following core points:
1. Satoshi may have “given up” on BTC and instead helped the ZEC developers advance their project. 2. The Winklevoss brothers likely know Satoshi’s real identity—after all, no one would dump more than $50 million into a “magic internet token” priced at just $10 without knowing the background of the founder. 3. Going even further, they may also be aware of a long-term plan for a “BTC → ZEC black hole rotation.”
All of the above is community speculation and has not been officially confirmed, but it reflects the market’s intense attention to the privacy-coin space and shifts in BTC narratives.
What do you think? Is there really some hidden connection between BTC and ZEC?
[Weekly Market Snapshot] Since “Liberation Day,” mega-cap technology stocks have suffered the worst single-week performance, with the Nasdaq coming under significant pressure.
Key logic: Within the AI ecosystem, fragmentation is intensifying—price action in smaller segments such as chips and software has diverged sharply; at the same time, AI trading logic is spreading beyond the ecosystem, leading to faster capital rotation. By contrast, the Dow Jones index and small-cap stocks have outperformed the broader market, indicating a clear shift in market style.
Commodities and the bond market are moving in tandem: - Gold’s technical picture shows a “death cross,” and near-term momentum has weakened - Oil prices have plunged, easing some inflation concerns - U.S. Treasury yields have fallen in sync, and bonds are being favored
Overall signal: Stocks and hard assets are moving in the same direction; combined with declining yields, the market is turning to a risk-avoidance mode in the short term. If technology stocks continue to weaken, capital may further flow out of cyclical assets; a breakdown in gold could also spur warmer demand for defensive positioning.
Near-term focus: Whether the ongoing fragmentation within the AI sector persists, whether U.S. Treasury yields can stabilize, and the state of technical repair after the “death cross” in gold.
📰 24-hour hot news roundup (ranked by ❤️) 1️⃣ 🇺🇸🇪🇺 Trump directly turned tariffs into a weapon this time, targeting all of Europe! Multiple European countries are preparing to levy «... » taxes on U.S. tech giants like Google, Meta, Apple, etc. (👀 32,300, 📤 98) 2️⃣ Even Musk says this is the most outrageous price increase he’s ever seen in his lifetime! Earlier, Tim Cook told the Wall Street Journal that this surge in costs is something he hasn’t witnessed in forty years; Musk then added that... 3️⃣ South Korean semiconductor giant SK Hynix has filed for a U.S. listing, planning to issue American Depositary Receipts (ADRs) on Nasdaq. The suggested price per share is $166, with a total fundraise of... 4️⃣ When even the founder sells all the stock himself, would you still dare to buy? Microsoft’s share price plunged by more than 25% this month, and market sentiment is overwhelmingly one-sided. 5️⃣ 🇺🇸 X officially launched its payment service, X Money, in the U.S. Initially it is only available to certain Premium+ users, with support from Visa—directly linking to users’ debit cards... 6️⃣ 🇪🇺 Binance founder Changpeng Zhao warned that if the EU refuses to grant Binance a MiCA license, it amounts to «cutting users off from the world’s best liquidity».
BStocks Officially Listed: Tokenized U.S. Securities Supporting Dividends and Corporate Actions
On June 12, Binance Exchange officially announced the listing of BStocks tokenized securities for trading. This is a key step in Binance’s “multi-asset financial super app” vision—bringing traditional U.S. stock assets on-chain while maintaining a 1:1 asset-backed structure under a compliant framework. ## What are BStocks? BStocks are tokenized securities issued by BTech Holdings Limited, a subsidiary of the Binance Group. Each BStock is backed on a 1:1 basis by the corresponding U.S. stock held by the custodian. They are not directly ownership of publicly listed company shares; rather, they are financial instruments that can be transferred, traded, and held on-chain.