Joe Lubin says ETH is not on a downward trend OpenAI plans to significantly upgrade ChatGPT

Headlines

▌Joe Lubin Responds to Ethereum Foundation Staff Turnover: Organizational Evolution Necessary, ETH Not on a Downward Trend

Ethereum co-founder and Consensys CEO Joe Lubin stated in response to layoffs, staff attrition, budget cuts, and leadership adjustments at the Ethereum Foundation that these are not crises but necessary organizational evolution. The Ethereum Foundation should focus on safeguarding core protocol technology and value, while tasks such as adoption, ecosystem expansion, and institutional partnerships should be handled by other organizations. Maintaining neutrality and credibility is also crucial to avoid conflicts of interest between commercial interests and developers. Lubin added that Ethereum’s future will be shaped by multiple organizations working together, rather than relying on a single entity’s leadership. He refuted claims that Ethereum is declining, asserting the network is still steadily developing, and pointed out that years of scalability efforts are laying the groundwork for the next wave of adoption, including autonomous AI on-chain transaction agents and increased institutional usage.

▌OpenAI Plans Major Upgrade to ChatGPT to Generate More Revenue

On June 7, according to the Financial Times, OpenAI is preparing the largest upgrade to ChatGPT since its launch. The $850 billion valuation group plans to seek new growth engines before going public this year. The company intends to transform this chatbot into a “super app,” integrating programming tools and AI agents, with several new products believed by senior executives to generate higher income. Multiple current and former employees revealed that these adjustments are part of OpenAI’s overall restructuring plan. OpenAI is reallocating resources to aggressively pursue high-margin enterprise clients and intensify competition with rival Anthropic. This upgrade will elevate the status of OpenAI’s coding product Codex and increase resource investment, reflecting a growing internal consensus that the future of AI is not just chatbots answering questions, but intelligent agents capable of executing tasks for users.

Market Trends

As of press time, data from CoinGecko shows:

BTC price at $63,191.77, up 3.8% in 24 hours;

ETH price at $1,681.83, up 7.3% in 24 hours;

BNB price at $603.33, up 5.0% in 24 hours;

SOL price at $66.14, up 6.4% in 24 hours;

DOGE price at $0.08606, up 5.2% in 24 hours;

XRP price at $1.16, up 5.8% in 24 hours;

TRX price at $0.3264, up 0.8% in 24 hours;

WLFI price at $0.05702, up 2.5% in 24 hours;

HYPE price at $59.26, up 4.4% in 24 hours.

Policy & Regulations

▌Trump: If Negotiations Fail, Consider Launching a Strike on Iran

On June 8, when asked about potential plans if such an agreement fails, U.S. President Trump said he would consider launching a special forces raid on Iran. He stated, “This means two possible actions: first, we might deploy troops to resolve targets that haven’t been addressed before; or, we will maintain the blockade on Iran, as the blockade’s power might be more effective than any previous strikes against the country.”

▌Vietnam Plans Pilot Cryptocurrency Asset Trading Market, Regulators Say Digital Finance Enters Critical Stage

Vietnam’s securities regulator announced that the country’s digital finance development is entering a “critical stage.” A plan to launch a pilot cryptocurrency asset trading market is expected to be announced soon to promote standardized development of the digital asset industry. Currently, Vietnam ranks seventh globally in cryptocurrency user base and fifth in trading growth rate, indicating sustained demand for digital assets in the country.

Blockchain Applications

▌AI and Machine Network Requests Surpass Human Requests for the First Time

On June 7, one of the world’s largest internet hosting providers—cloud cybersecurity service company—released new data showing that approximately 57.4% of network requests received by its hosted websites come from AI and automation programs, while 42.6% come from human users. The company stated this is the first time in internet history that machine-originated network requests have surpassed those from humans. (CCTV News)

Cryptocurrency Market

▌Bitcoin Nears Average Disposal Price of German Government, $57.9k Could Be a Key Level

According to Arkham on-chain data, the German government has previously sold a total of 49,858 BTC at an average price of about $57,900. If Bitcoin drops about 6% from current levels, it would fall near the government’s average sale price, meaning Bitcoin is approaching the cost range of large-scale disposals by sovereign institutions. Given the significant liquidation pressures this week, $57,900 is a key level to watch. Since government sales are typically non-autonomous and price-insensitive, this level may serve as an important reference for market supply-demand and future trends.

▌Tom Lee: U.S. Stock Bull Market Remains Steady, Cryptocurrency Crucial in AI World

On June 7, Tom Lee, chairman of Ethereum’s largest treasury company BitMine, stated, “Don’t be misled by false information; the current U.S. stock bull market remains robust. Moreover, cryptocurrencies are the only way to achieve tokenization, and in the future AI world of machine-to-machine interaction, cryptocurrencies will play a key role.”

▌Michael Saylor Releases Bitcoin Tracker Updates Again

On June 7, Michael Saylor, founder of Bitcoin treasury company Strategy, released updates on Bitcoin Tracker. Based on previous patterns, Strategy discloses its Bitcoin holdings on the second day after related news is published.

▌Strategy CEO: Company Continues to Increase Bitcoin Reserves Long-term

On June 7, Strategy CEO Phong Le said the company is continuously increasing Bitcoin reserves and raising its Bitcoin holdings per share. Other rumors are just that—rumors.

▌Grayscale Submits Registration for Grayscale Canton ETF

On June 7, Grayscale filed an S-1 registration statement with the U.S. SEC on June 5, planning to launch the Grayscale Canton ETF. It is disclosed that the Grayscale Canton ETF will be a spot ETF, with further product details to be announced later.

▌Crypto Fear & Greed Index Yesterday at 12, Market Remains in “Extreme Fear”

On June 7, according to Alternative data, the crypto fear and greed index was at 12, indicating market sentiment remains in “extreme fear.” Note: The index ranges from 0-100, composed of volatility (25%), trading volume (25%), social media activity (15%), market surveys (15%), Bitcoin’s market share (10%), and Google search trends (10%).

Major Economic Updates

▌“New Stock God” Serenity Shares Investment Methodology: Discover Unrecognized Market Trends, Not Follow Consensus

On June 7, “New Stock God” Serenity published an article sharing their investment approach, stating that their style is fundamentally highly discretionary, focusing on identifying industry trends not yet widely recognized, combined with real-world observation, industry research, and income forecasts for high-confidence projections. Serenity cited Raspberry Pi (RPI) as an example: while most investors still see it as an educational and DIY hardware, they observed increasing developer use of Raspberry Pi and Apple Mac Minis for AI deployment, verified through online tutorials, leading to the inference that AI will become a new growth engine for companies. Subsequent earnings reports showed a 58% YoY revenue increase, significantly exceeding the previous 14% market expectation. Regarding AXT (AXTI), Serenity’s judgment was based on research into indium phosphide (InP) substrate industry chains and the photonics supercycle outlook. While the market initially believed the relevant market was limited, Serenity believed AXT held about 40% of the InP supply chain, with a critical bottleneck position, thus severely undervalued. Later, Goldman Sachs and related industry players released research and performance data validating some of these views. For X-FAB (XFAB), Serenity said it is still in the “hypothesis verification stage.” Although generally not regarded as a photonics company, they found in government documents, ASE data, and industry chain info that the company is becoming an important participant, with Nvidia evaluating its capabilities. They will continue to observe whether more evidence supports this investment logic in the coming months. Serenity emphasized that many current investment opportunities come from integrating fragmented information, real trends, and industry shifts, rather than traditional valuation models. They believe investing is fundamentally a process of combining long-term industry knowledge, life experience, and market analysis, where high-confidence projections—though prone to errors—are often key sources of excess returns.

▌SpaceX IPO Subscription Surpasses Double

On June 7, Cointelegraph reported that SpaceX’s IPO subscription has exceeded twice the amount.

▌Trump: Economic Recovery Should Not Lead to Rate Hikes; U.S. Has Debt and Other Issues to Address

On June 7, U.S. President Trump stated that after U.S. employment data significantly exceeded expectations, if the Federal Reserve decides to raise interest rates, it would be a mistake. He also emphasized that he does not want to influence Fed Chair Kevin Warsh’s first meeting. In an NBC interview, Trump said, “Today, whenever economic data performs well, markets tend to fall because people think the Fed will hike rates. But there’s no reason to hike.” His comments further increase pressure on Warsh. Trump added, “Raising the benchmark rate is wrong. In fact, we should lower rates.” He said, “I work with Kevin now. I respect him a lot, but my view is that when a country’s economy is doing well, it shouldn’t be immediately punished with rate hikes.” He also mentioned, “We have debt issues and many other things to handle, many plans to push forward. I want to further expand defense spending.”

▌CICC Haitong: U.S. Stocks May Experience at Least One to Two Months of Volatility

On June 7, CICC Haitong research report indicated that the May non-farm payrolls data continued to beat expectations, signaling a stabilization and recovery in the U.S. labor market, which catalyzed rate hike expectations and caused significant asset price adjustments. The dollar strengthened, U.S. bond yields jumped, U.S. stocks fell sharply, and gold weakened. CICC Haitong believes that internal disagreements within the Fed remain substantial, and no rate hikes are expected this year. However, the market in June may be temporarily impacted by liquidity shocks, leading to at least one to two months of volatility in U.S. stocks.

▌Iran Attacks Israel Again After Two Months; WTI Opens Up About 3%

On June 8, early Asian trading, WTI crude futures rose 2.98% to $93.235 per barrel. U.S. stock index futures declined: Dow futures down 0.46%, S&P 500 futures down 0.50%, Nasdaq 100 futures down 0.62%. News reports that after the April 8 ceasefire, Iran launched missiles at Israel again after two months. Trump said, “My advice to Iran is, you’ve already launched missiles, that’s enough. Now you should return to the negotiation table and reach an agreement.” He also said he would call Israeli Prime Minister Netanyahu to tell him “not to retaliate.”

▌Federal Reserve Likely to Keep Rates Unchanged in June at 97%

On June 8, according to CME’s “FedWatch,” the probability of the Fed holding rates steady in June is 97%, with a 3% chance of a 25 basis point cut. The probability of no change in July is 81.9%, with a 15.5% chance of a 25 basis point hike and 2.5% of a cut.

Gold & Crypto Encyclopedia

▌Can Bitcoin Still Be Called “Digital Gold” Amid Geopolitical Crises?

During every geopolitical crisis, gold prices rise while Bitcoin prices plummet. After six tests, the “digital gold” claim has never been substantiated by data. Countries hoard gold but exclude Bitcoin from reserves. For investors, Bitcoin has asymmetries: it tends to fall with stocks but not rise with them. Three structural asymmetries prevent Bitcoin from gaining safe-haven status: excess derivatives (market structure), dominance of leveraged traders (participant composition), and lack of repeated behavioral records (behavioral accumulation).

Bitcoin is not a safe-haven asset, but it is a “crisis-useful asset.” In scenarios like border closures and bank failures, it can indeed serve a role. If these three asymmetries diminish, Bitcoin might no longer be a replica of gold but could become a new “next-generation gold.” Intergenerational shifts and widespread algorithm adoption could accelerate this process.