FCA proposes authorizing funds to allocate up to 10% encrypted ETN

EDGE Markets announced the completion of a $292 million Series A funding round led by CoinFund, with participation from Indicator Ventures, Mantis VC, StepStone Group, and Bullpen Capital. The funds will be used to launch the high-throughput fund account product EDGE Pro, which supports real-time fund deposits and withdrawals to exchanges regulated by CFTC and improves the efficiency of institutional fund utilization. The company is applying for NFA broker and futures commission merchant licenses.

[Philadelphia Semiconductor Index Opens Up Over 5%] Philadelphia Semiconductor Index opens up over 5%, led by Intel. Micron Technology rises 9.6%, ASML gains 5.1%, and Applied Materials increases 5%.

According to Grayscale Research, the decentralized trading platform Hyperliquid is expected to handle approximately $2.9 trillion in perpetual contract trading volume by 2025, with a current open interest contract size of approximately $7 billion. The report states that Hyperliquid provides a near centralized exchange experience through an on chain order book architecture, while retaining on chain transparency and user self hosting features. By 2025, the platform's revenue will be approximately $800 million, accounting for about 2% of the global cryptocurrency perpetual contract market revenue.

Bitdeer's two executives resign, Wu Jihan drives company transformation According to TheEnergyMag, Bitdeer (NASDAQ: BTDR) announced on June 8th that Chief Operating Officer Chao Suo and Chief Commercial Officer Linghui Kong have resigned due to personal reasons and will remain with the company in undisclosed roles. In May of this year, Michael G. Potter took over as CFO. Founder and Chairman Wu Jihan has been serving as CEO since March 2024, leading the company's transformation towards AI cloud services and high-performance computing, and expanding the production capacity of the SEALINER series ASIC mining machines.

Fitch Ratings has raised its outlook for the global oil and gas industry to 'Improving' as rising oil prices enhance profit prospects. It is expected that Brent crude oil will remain at $100 to $110 per barrel from June to July, and fall back to around $70 in September. Fitch assumes that supply will resume after the reopening of the Strait of Hormuz, and there is currently no substantial damage to major oil facilities. Short term energy supply concerns support oil prices, but the impact may gradually fade after the risks ease.