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Bybit challenges Wall Street with a massive push into tokenized U.S. stock IPOs

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Bybit challenges Wall Street with a massive push into tokenized U.S. stock IPOs

Bybit, the world’s second-largest crypto exchange by trading volume, has joined the tokenization race to capture the highly-anticipated public listing of SpaceX later this week with its new Bybit IPO Express service.

The Dubai-based exchange is the second crypto exchange to offer tokenized initial public offerings (IPO) following Kraken. Its parent company Payward said it would soon allow its Kraken customers and xStocks alliance members to participate in U.S.-listed IPOs through tokenized shares.

Binance, Bitget and Gate previously offered pre-IPO markets in the form of derivatives. That means investors are not actually buying the actual shares.price. Instead, they are betting on a prediction market or trading IOUs based on what they believed the company would be worth.

Bybit’sIPO services are powered by Payward Services’ xStocks and are eligible retail investors worldwide who can participate in blockbuster IPO projects by subscribing to tokenized representations of publicly traded equities.

“The launch marks a fundamental step in the convergence of traditional capital markets and crypto-native infrastructure, as exchanges increasingly compete to expand beyond digital asset trading into broader financial services,” Bybit said in its press release.

The aim of such services is democratize access millions of users to participate in IPOs that were previously only available to institutional investors, private banking clients, and select brokerage networks.

Bybit also said that through xStocks’ regulated blockchain, holders of tokenized listed stocks can access extended trading hours, Decentralized Finance (DeFi) composability and flexibility and crypto-native settlement.

“For Bybit customers, it is the first time cryptocurrency exchange users can purchase shares at IPO pricing outside of the competitive secondary market,” the press release added.

Bybit said the registration period for the SpaceX IPO is from June 7 to 11. Allocation follows on June 11 and 12, the day when the token also becomes publicly available for trading on Bybit spot. Elon Musk’s SpaceX plans a $75 billion IPO on June 12 at a $1.75 trillion valuation, ranking it among the largest ever.



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Apple (AAPL) Is A Top Stock In Billionaire Ken Fisher’s Portfolio

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moneyvests
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Apple (AAPL) Is A Top Stock In Billionaire Ken Fisher’s Portfolio


Apple Inc. (NASDAQ:AAPL) is one of Billionaire Ken Fisher’s Latest Portfolio: 10 Best Stocks to Buy.

Consumer electronics giant Apple Inc. (NASDAQ:AAPL)’s shares are up by 53% over the past year and by 14% year-to-date. The firm was at the center of coverage from several analysts in May. For instance, Melius Research raised the share price target to $385 from $355 ahead of the firm’s highly anticipated WWDC conference in June. Some of the factors that Melius noted in its coverage about Apple Inc. (NASDAQ:AAPL) included the growing uptick in consumer preference for voice commands and the unique value proposition of offering consumers hardware and software under a single roof.

Like Melius, Evercore ISI also raised Apple Inc. (NASDAQ:AAPL)’s share price target. It bumped the target to $365 from $330 and kept an Outperform rating on the stock. The financial firm praised Apple Inc. (NASDAQ:AAPL)’s high prices and noted the potential for monetizing AI, among other factors.

Apple (AAPL) Is A Top Stock In Billionaire Ken Fisher’s Portfolio

Apple Inc. (NASDAQ:AAPL) was briefly featured in Impax US Sustainable Economy Fund’s Q1 2025 investor letter for QUALCOMM Incorporated (NASDAQ:QCOM):

“QUALCOMM Incorporated (NASDAQ:QCOM) (Information Technology, Semiconductors) is held due to its best-in-class Corporate Resilience score, scoring highly from Environment & Social factors as well as Governance. The stock is also well positioned from a sustainability opportunity perspective with high scores on Digital Infrastructure and Resource Efficiency. Underperformance was driven by a sharp sell-off after record fiscal Q1 results were overshadowed by deeply disappointing forward guidance, as AI data center demand has created industry-wide memory shortages. Apple’s accelerating development of in-house modem chips threatens Qualcomm’s largest customer relationship, and escalating US-China trade tensions create meaningful uncertainty around its substantial China revenue exposure.”

While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Disclosure: None. Follow Insider Monkey on Google News.



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Bitcoin’s bounce from $59K on hold? Whale selling and bearish momentum say…

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moneyvests
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Bitcoin's bounce from $59K on hold? Whale selling and bearish momentum say…


Bitcoin rebounded from a drop to $59.1k, defended the $60k level, and climbed to a local high of $64k. Even so, market conditions remained volatile.

At press time, BTC traded at $63,058 after gaining 2.03% over the past 24 hours. Trading volume rose 40% to $36 billion during the same period, pointing to renewed market participation.

Why did THIS Bitcoin whale sell so quickly?

As Bitcoin [BTC] hovered near $60k, whale activity intensified. The Exchange Whale Ratio climbed to a two-week high of 0.6.

Bitcoin exchange whale ratio
Source: CryptoQuant

An elevated Exchange Whale Ratio suggested large holders accounted for a growing share of exchange deposits. At the same time, some whales appeared to capitalize on the recent sell-off.

According to Lookonchain, one Bitcoin whale purchased 1,656 BTC worth $98.93 million at an average price of $59,734.

After the purchase, selling pressure eased and BTC reclaimed the $60k level. As the price recovered toward $64k, the whale moved the holdings to Binance and locked in profits.

The transaction generated roughly $3.5 million in gains within two days.

That move highlighted the cautious sentiment still present across the market. Rather than holding through uncertainty, some traders appeared willing to secure profits quickly.

Such behavior can create additional resistance during recovery attempts, especially when sellers emerge after modest gains.

Can dip buyers absorb whale selling?

Despite the attempted recovery, with slight gains on price charts, downside momentum remains strong. With whales now selling, they continue to strengthen this momentum.

In fact, Bitcoin’s Trend Momentum has remained negative for three consecutive weeks. On the 8th of June, the metric fell deeper into negative territory and reached -20.

Bitcoin TMIBitcoin TMI
Source: TradingView

In the negative zone, this metric suggests that sellers have total control of the market. At these levels, it signals the likelihood of trend continuation.

Therefore, if sellers, especially whales, continue to exit the market, we could see another pullback towards $60k.

However, although whales are selling, it seems small-scale traders are buying the dip. Looking at the Exchange NetFlow, this metric has remained negative for the past 4 days.

Bitcoin Exchange NetflowBitcoin Exchange Netflow
Source: CryptoQuant

A negative NetFlow suggests that buyers are also very active in the market. Thus, if these small-scale buyers hold on, they could absorb the pressure from whales and give Bitcoin a lifeline.

Under such circumstances, we could see BTC reclaim $65k and target $70k in the short- to medium-term.

Final Summary

  • A Bitcoin whale bought 1,656 BTC near $59.7k and exited two days later with an estimated $3.5 million profit.
  • Bitcoin recovered from a drop below $60k and briefly reached $64k, but Trend Momentum remained bearish.



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CME is letting traders bet on bitcoin volatility, not price, and two firms have already placed bets

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moneyvests
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CME is letting traders bet on bitcoin volatility, not price, and two firms have already placed bets

CME’s bitcoin BTC$62.945,93 volatility index futures began trading last week, offering investors a new way to trade and hedge price volatility. DV Chain and Monarq Asset Management executed the first block trades, kicking off trading in the contracts.

These volatility contracts track the CME CF Bitcoin Volatility Index (BVX), which represents the market’s expectations for bitcoin volatility over four weeks. Their debut allows traders to take positions directly on expected price turbulence rather than just price direction.

That distinction matters because most derivatives, including futures, perpetual futures and options, require a view on where price is going. Volatility futures eliminate that complexity, letting traders express a view purely on how BTC will move in either direction.

That opens the door to a new set of hedging and portfolio strategies that were previously difficult to execute on regulated venues. Think of positioning for how much bitcoin might move around events like this week’s U.S. inflation data – traders can go long or short volatility depending on their outlook.

Shiliang Tang, CEO of Monarq, called the launch a positive step in broadening regulated volatility offerings.

“As bitcoin continues to mature into a more mainstream institutional asset class, the demand for sophisticated risk management instruments grows alongside it. Robust tools like CME Group Bitcoin Volatility futures are exactly what investors need to accurately express their market viewpoints and efficiently hedge their portfolios within a secure, transparent framework,” he said in the press announcement.

Monarq Asset Management is a institutional-focused quantitative and systematic digital asset investment firm managed by former executives from firms such as LedgerPrime, Tower Research, and BlockTower Capital. DV Chain is a liquidity and market-making service provider.

The launch of volatility futures expands CME’s existing product suite comprising bitcoin and ether standard and micro futures and options contracts. The platform’s crypto derivatives business has reached roughly 266,900 contracts year-to-date, up 38% year-on-year, while average daily open interest stands at roughly 274,500 contracts, up 18%.



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Stock market today: Dow, S&P 500, Nasdaq futures mixed as oil rises after Iran and Israel exchange strikes

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moneyvests
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Stock market today: Dow, S&P 500, Nasdaq futures mixed as oil rises after Iran and Israel exchange strikes


US stock futures were mixed on Monday morning after Iran attacked Israel, putting pressure on a fragile ceasefire in the Middle East, and investors continued to reprice rate-hike bets and assess the artificial intelligence trade.

Futures tied to the Dow Jones Industrial Average (YM=F) moved down 0.3%. Meanwhile, S&P 500 futures (ES=F) rose 0.2% as contracts on the tech-exposed Nasdaq 100 (NQ=F) jumped 0.7%.

Markets start the week on unsteady footing after the Nasdaq (^IXIC) dropped 4% on Friday and the S&P 500 (^GSPC) snapped its nine-week winning streak. A strong rotation out of high-flying semiconductor stocks and into more defensive areas of the market came on the heels of a blowout May jobs report that strengthened the case for the Federal Reserve to raise interest rates later this year.

Oil prices flared after Iran fired missiles at Israel for the first time since April, and Israel struck back despite President Trump’s calls for both sides to stop fighting. Brent futures (BZ=F) climbed over 4% to above $97 a barrel, while West Texas Intermediate futures (CL=F) topped $94 a barrel amid revived concerns that a US ceasefire with Iran could fall apart to return open conflict in the Middle East.

Investors will get a better sense of whether higher oil prices are starting to bleed into core prices on Wednesday with the release of the latest monthly Consumer Price Index. That’s followed by an update on the Federal Reserve’s preferred gauge of inflation, the Producer Price Index, on Thursday. The Fed’s focus will be squarely on inflation after a batch of jobs data last week showed the labor market remains stable.

Other key events to watch this week include Oracle (ORCL) earnings on Wednesday and the likely SpaceX (SPCX) IPO on Friday, which is expected to be the largest public offering on record.

Coming soon

Live coverage of stock market news and updates for June 8, 2026.



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Legora’s Tech Chief Says Tokenmaxxing Is ‘Really Stupid’ for AI Usage

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moneyvests
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Legora's Tech Chief Says Tokenmaxxing Is 'Really Stupid' for AI Usage


There are far better ways to encourage AI use than tokenmaxxing, says Legora’s chief technology officer.

“A lot of people, say, get a leaderboard and bring up token usage at performance reviews,” said Jacob Lauritzen on an episode of the “20VC” podcast released on Saturday. “That leads to tokenmaxing, which is people just burn tokens just to look good.”

“That’s a really stupid way to do anything,” he added.

Tokenmaxxing refers to using tons of AI tools like Claude, Codex, and Cursor to boost productivity and get ahead on internal AI use dashboards and reviews.

Lauritzen, who joined the legal AI startup in 2024, said that more intelligent ways to use AI include hack days or demos where employees can show others what they’re building and the efficiency gains they have achieved.

“Reward them for being effective and efficient and having more output, not for necessarily using AI,” he said.

That said, Lauritzen added that fast-growing companies like Legora have a lot to lose when they don’t use AI.

“Is it worth us spending a ton of tokens to learn if it maybe gives us 20% efficiency for us? Yes, we have a really high opportunity cost,” he said.

Lauritzen’s comments come at a pivotal moment for the tech industry, as it moves from tokenmaxxing to token capping. Some tech companies are wondering if the dashboards they implemented as motivation to play around with AI are backfiring — and finance departments are increasingly concerned about how much it all costs.

Last week, Uber said it has limited all employees to $1,500 in monthly token spend per AI tool, after the ride-hailing company blew through its AI spend budget earlier this year.

Last month, the Financial Times reported that Amazon shuttered an internal dashboard that tracked AI use after some staff performed tasks to climb the leaderboard.

An Amazon spokesperson told Business Insider that the unofficial dashboard “was never intended to promote the use of AI for usage’s sake.”

At a Bloomberg conference last week, Andrew Feldman, the CEO of Cerebras Systems, said that the idea of giving employees unlimited tokens was “boneheaded from the get-go.”

“You don’t need a Ferrari to go to the grocery store, right? Use a lower-cost open source model,” he said about being more efficient with tokens. “What we’re learning is how to shop at Costco.”





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XRP price news: RIpple-linked token steadies above $1.10 from four-month lows

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moneyvests
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XRP price news: RIpple-linked token steadies above $1.10 from four-month lows

XRP finally found buyers after one of its sharpest selloffs of the year, but the recovery looks more like stabilization than a trend change. The token bounced from levels last seen before the November 2024 breakout, yet every rally is still running into sellers, leaving XRP stuck between deeply oversold conditions and a market that hasn’t stopped de-risking.

News Background

• More than 25 million XRP left exchanges in recent days, extending a trend that typically points to accumulation rather than immediate selling.

• XRP-linked ETF products continued attracting capital, with roughly $118 million in inflows recorded during May and cumulative inflows approaching $1.4 billion.

• Analysts and forecasting models increasingly view the $1.10-$1.20 area as a potential stabilization zone after XRP’s recent 17% weekly decline.

Price Action Summary

• XRP gained 1.6% over the session, recovering from lows near $1.09 and climbing back toward $1.14.

• The strongest move came during the 22:00 UTC session, when volume surged to 145.3 million XRP and pushed price through resistance near $1.1350.

• Momentum faded into the close, with XRP slipping from $1.1488 to $1.1386 before buyers stepped back in near support.

Technical Analysis

• The bigger story is that XRP remains trapped inside a descending channel despite the bounce. The recovery eased immediate downside pressure but did not break the broader pattern of lower highs.

• The RSI has fallen to one of its most oversold readings since before the November 2024 rally, a sign that selling may be becoming exhausted.

• Exchange outflows and ETF inflows continue to point toward accumulation beneath the surface, but price action still resembles a market trying to find a floor rather than one beginning a new uptrend.

• The bounce from $1.09 matters because it showed buyers are willing to defend the area, though follow-through buying remains limited.

What traders should watch

• $1.13-$1.14 is now the key near-term support zone after the latest recovery.

• $1.15 remains the first meaningful resistance level and the upper boundary of the current descending channel.

• A move above $1.20 would be the first sign that XRP is starting to repair the damage from the recent selloff.

• If support near $1.10 fails again, traders are likely to focus on whether the psychologically important $1.00 level becomes the next downside target.



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