Hi, it's Dong Cao, Pei Li and Manuel Baigorri in Hong Kong, where this week we attended a UBS conference and chatted with some bankers about investor sentiment and the buzz of dealmaking in Asia. Also...

Hi, it's Dong Cao, Pei Li and Manuel Baigorri in Hong Kong, where this week we attended a UBS conference and chatted with some bankers about investor sentiment and the buzz of dealmaking in Asia. Also today, the latest on the looming SpaceX listing.

Today's top stories

* SpaceX cuts IPO valuation ...

UBS Brings Big Guns to Asia as Dealmaking Action Heats Up

Original author: ChandlerZ, Foresight News
On the evening of May 28, the SPACEEX-USDH perpetual contract on Hyperliquid experienced a sharp flash crash, with the price falling from a low of $2,277 to a low of $1,254 within 30 minutes, a drop of nearly 45%, before rebounding to around $2,169.
This crash resulted in the liquidation of 405 users and 1,393 positions, with a total liquidation amount of $1.51 million.
Data shows that the total trading volume of this contract in the past 24 hours...

SpaceX's stock price plummeted 45% in 30 minutes; retail investors were already hit hard even before the company went public.

Bitcoin fell below $73,000 on May 28, 2026, dragging most altcoins into a significant decline as ETFs withdrew Capital and geopolitical tensions triggered a wave of leveraged liquidations...

3 altcoins to watch in June 2026: Claude Chia his top picks.

Over the past two decades, the most valuable assets on the internet have been two things: user time and ad space.

Whoever can get users to spend more time browsing and click more will capture the largest slice of the digital economy. Traffic is the hardest currency of this era.

But today, a new signal is emerging.

[Digital Labor Force] From January to May 2026, Anthropic's annualized revenue surged from $9 billion to $45 billion.

Meanwhile, ChatGPT's individual subscription growth stagnated, and the global 2C paid conversion rate for AI applications is generally below 5%. Charging just one dollar and users will switch to Doubao...