Articles by Khal
Latest from Khal
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Micron loses $94B as Broadcom AI guidance triggers $280B sector rout
Micron Technology shed roughly $94 billion in market value on June 4 after Broadcom slashed its AI chip guidance, sparking a broad semiconductor selloff that wiped out $280–$286 billion across the sector in a single day—the largest one-day loss in US market history.
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Bitcoin slides below $62K as Zcash crashes on critical bug disclosure
Bitcoin fell to $61,900 as markets await U.S. jobs data that could shift rate-cut expectations. Meanwhile, Zcash plummeted 40% after Shielded Labs disclosed a critical bug undetected for four years.
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Bitcoin sentiment peaks at bearish lows, bullish highs—inverse of profits
Bitcoin sentiment analysis shows traders were most bullish when price peaked near $78,000 in late May and most bearish when it fell to recent lows near $62,400—a pattern that inverts where profitable trades typically occur.
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South Korea launches first illegal gambling probe into Polymarket users
South Korean police have launched the country's first illegal gambling investigation into local Polymarket users, with violators facing fines up to 10 million won ($6,500) under Article 246 of the Criminal Act.
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Zcash crashes 38% after critical Orchard shielding vulnerability disclosed
Zcash plunged 38% following the disclosure of a critical vulnerability in its Orchard shielded pool that could have allowed undetectable counterfeiting for over four years. The flaw, discovered May 29 and patched June 1, has reignited concerns about privacy coins' inability to verify supply integrity.
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OpenAI launches Dreaming V3 memory system for ChatGPT on June 4
OpenAI rolled out Dreaming V3, an upgraded memory architecture for ChatGPT that improves context retention and conversational continuity. The system initially targets Plus and Pro subscribers in the US, with expansion planned for additional tiers and regions.
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JPMorgan, Bank of America, Citi launch tokenized deposit network by 2027
Three of America's largest banks are building a shared blockchain-based tokenized deposit network by mid-2027, operated by The Clearing House, to defend against stablecoin competition and offer multinationals real-time liquidity and cross-border payment options.
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Robinhood routes World Cup contracts to Rothera in live infrastructure test
Robinhood has begun routing select FIFA World Cup event contracts through Rothera, its co-owned derivatives exchange, marking a shift away from reliance on Kalshi and a test of its own integrated trading platform ahead of a full Q2 2026 launch.
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Monterey Park becomes first US city to ban data centers with 86% voter support
Monterey Park became the first American city to enact a permanent data center ban after voters approved Measure NDC with overwhelming support, setting a precedent for local resistance to energy-intensive infrastructure.
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Bitcoin $60K Level Risks Cascading Liquidations, Deribit Warns
Bitcoin trading near $60,000 faces structural risk from institutional cost basis, $1.2 billion in put options, and leveraged longs that could trigger automated liquidations if the level breaks, according to Deribit's chief commercial officer.
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Šefčovič demands EU-US trade deal honor 15% tariff ceiling
EU Trade Commissioner Maroš Šefčovič is pressing for the finalized EU-US trade agreement to honor the 15% tariff ceiling negotiated at Trump's Turnberry resort in August 2025, as President Trump threatens to raise auto tariffs to 25% citing slow EU implementation.
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Strategy's leveraged Bitcoin model faces stress test as stock tumbles below par
Michael Saylor's Strategy sold 32 BTC and $128 million in shares, triggering a 16% Bitcoin decline and a 12.8% drop in STRC to a two-month low. Analysts warn the leveraged model strains the broader market.
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SpaceX pitches $75 billion IPO directly to retail investors via video
SpaceX released a marketing video on June 4 directed by CFO Bret Johnsen to pitch its upcoming IPO, planning to allocate up to 30% of the projected $75 billion offering to individual investors worldwide—a significant departure from typical IPO practice.
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Anthropic warns AI agents could soon improve themselves without human intervention
Anthropic researchers Marina Favaro and Jack Clark warned that AI development is accelerating toward autonomous self-improvement, with improvements doubling every four months. They called for a slowdown to allow time for safety research and societal alignment.
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Bitcoin falls to $62,715 as Broadcom chip miss triggers risk-off
Bitcoin fell 1.9% to $62,715 on Friday as Broadcom's disappointing chip guidance halted the AI rally and dragged equities and crypto lower across Asia. Ether and Solana dropped over 4%, while HYPE token slid 14.8%.
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Gold settles above $4,500 as Middle East ceasefire weakens dollar
Gold futures hit $4,505 per ounce on June 4 following a ceasefire agreement between Israel and Lebanon, as a weaker dollar and falling oil prices boosted bullion demand while investors retreated from the debasement trade.
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Amazon unveils Vulcan, tactile-sensing robot for warehouse automation
Amazon introduced Vulcan at a May 2025 event in Germany—a robotic system with tactile and force-sensing capabilities designed to handle 75% of warehouse items at human-comparable speeds while complementing, not replacing, human workers.
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Google commits $40 billion to Texas data center and renewable energy through 2027
Google announced a $40 billion investment in Texas cloud and AI infrastructure, including the Meitner Energy Center—a data center paired with over 1 gigawatt of renewable generation capacity—marking the company's largest state-level commitment in the US.
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Google, Intersect Power break ground on Meitner Energy Center in Texas
Google and Intersect Power have begun construction on the Meitner Energy Center, a combined data center and renewable energy complex in the Texas Panhandle designed to run entirely on clean energy from day one.
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Nvidia CEO Jensen Huang strengthens South Korea supply ties
Nvidia CEO Jensen Huang visited South Korea from June 5-8, combining public appearances with meetings at Samsung, SK Hynix, and Hyundai to secure critical HBM chip supplies and discuss AI infrastructure expansion.
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QuickSwap Expands to Base, Targeting Multi-Chain DeFi Leadership
QuickSwap, a decentralized exchange, deployed its full service suite on Base, Coinbase's Layer 2 network, following a governance vote in May 2025. The move positions the protocol across more than eight EVM-compatible chains as it competes in a crowded DEX landscape.
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Kalshi launches Bloomberg Terminal-style interface for institutional traders
Kalshi, a CFTC-regulated prediction market platform, is developing a professional trading interface modeled after Bloomberg Terminal. The platform raised $1 billion in Series F funding and now reports $178 billion in annualized trading volume.
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US jobless claims jump to 225K, signaling Fed rate cut shift
Initial jobless claims climbed to 225,000 for the week ending May 30, overshooting economist estimates and marking the highest four-week average since February. The data strengthens the dovish case for earlier interest rate cuts, which could ease financial conditions and support crypto markets.
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Hut 8 hires ex-NextEra finance veteran for investor relations amid AI pivot
Hut 8 appointed Mark Eidelman, a former J.P. Morgan banker with 17 years of experience managing over $75 billion in financings, as Head of Investor Relations and Senior Vice President of Strategic Finance effective June 4, 2026. The move supports the company's push toward investment-grade credit status and lower capital costs.