Robinhood ecosystem mainstream platforms and meme coins broadly decline, PONS drops over 20% in 24H

Odaily News: Ki Young Ju stated that the Bitcoin bear market cycle has ended, and the market is expected to enter a bullish or sideways phase over the next 12 to 24 months.

Odaily reports that quantitative giant and market maker Jump Trading has disclosed the establishment of a new internal compute trading division, while bringing in Ito Markets founding team members Affaan Mustafa and Alejandro Soumah Fernandez through an acqui-hire. The specific terms of the deal have not been disclosed. Analysts believe that as the AI boom drives growing demand for computing resources, Jump's move also reflects how financial trading firms are accelerating their push into compute as an emerging asset class. (Bloomberg)

Odaily News: JPMorgan and Goldman Sachs are leading the arrangement of a $5 billion loan underwriting deal for AI cloud services company Volta Infrastructure Holdings (Volta AI), but will only underwrite $1.3 billion of the term loan to reduce their own risk exposure.It is reported that this $1.3 billion term loan transaction will be used to pay for Volta's leasing fees for data centers operated by Bitcoin mining company Bitdeer. As of now, representatives from JPMorgan, Goldman Sachs, and Volta have all declined to comment on the matter. (Bloomberg)

1. South Korean stock market sell-off may spill over into crypto markets, Tom Lee calls it short-term pain;2. 15 trades in 4 months with nearly all profitable, a whale has accumulated $29.75 million in profits and went long on 24,000 ETH worth $60.7 million;3. SafePal responds to hardware wallet security concerns, reminding users to verify Ledger device authentication, activation records, and packaging seals;4. AMAT, the largest semiconductor equipment manufacturer in the US, expects revenue to double in the coming years;5. KB Securities: South Korean chip stocks pullback may reflect investors' doubts about earnings sustainability;6. CZ: Paying to smear competitors only damages trust in your own exchange;7. $115 million HYPE long position currently has unrealized gains of $61.26 million;8. Profitable since 2023, Bitcoin long-term holders currently have a 72% unrealized profit buffer;9. Binance will adjust leverage and margin for multiple USDT-margined perpetual contracts;10. A whale transferred 5,170 ETH worth $12.82 million to Tornado Cash, with unrealized gains of $3.056 million.

Odaily News: Bitget has officially launched its rToken US stock transfer feature, currently supporting 3,000+ US stocks and ETFs. Users can transfer eligible stock assets from traditional brokerage accounts to Bitget, and upon arrival, the stocks will be automatically converted into spot US stock rTokens based on the corresponding share quantity. Bitget charges no fees throughout the entire transfer process.After transfer, the rTokens can be directly integrated into Bitget's Universal Exchange (UEX) ecosystem, where they can be used for wealth management, lending, margin, and other yield-generating products, enhancing the capital efficiency and use cases of stock assets. To coincide with the feature launch, Bitget has simultaneously introduced a reward campaign featuring a total of $1 million in SpaceX stock tokens (rSPCX). Users can earn corresponding SpaceX stock rewards based on their transfer amounts, with rewards distributed on a first-come, first-served basis. Users can select the stocks and quantities they wish to transfer on the US stock transfer page and use the in-page reward calculator to view the estimated transfer amount and corresponding campaign rewards.Bitget CEO Gracy Chen stated: "This feature is designed to help investors consolidate stock assets scattered across different brokerages into a unified ecosystem without selling their existing holdings, enabling flexible allocation across asset classes."

Odaily News: AMC CEO Adam Aron has once again posted on X, stating that Robinhood claims to support the SEC's new rules regarding U.S. stock tokenization, and demanding that Robinhood clarify whether its international business will follow the same principles set forth by the SEC. He stated that if Robinhood's offshore business in Jersey does not comply with the relevant principles, it would constitute a distortion and mockery of the correct practices required by the SEC. In the original post, he repeatedly exclaimed "shame, shame, shame," expressing his contempt for Robinhood's refusal to respond directly to the relevant questions.