Daily market report (June 6, 2025, 10:20 AM)
ChainDD reported on June 6th, showing the comprehensive DD index and CoinMarketCap quotes:
BTC is priced at $101,634.31, down about 3.15% in the last 24 hours;
ETH is priced at $2,408.75, down about 7.88% in the last 24 hours;
BNB is priced at $633.64, down about 4.92% in the last 24 hours;
DOGE is priced at $0.1715, down about 9.51% in the last 24 hours;
SOL is priced at $145.59, down about 5.49%.
Crypto market updates.
Yuga Labs CEO plans to dissolve ApeCoin DAO, stating it is wasting resources.
Recently, Yuga Labs CEO Greg Solano proposed dissolving the ApeCoin DAO and transferring its assets and responsibilities to a new entity called ApeCo created by Yuga Labs. Solano criticized that the ApeCoin DAO has "evolved from commitment to a slow, noisy, and unserious governance performance," with resources wasted on "vanity proposals and low-impact plans."
The new entity will focus on supporting high-quality projects and strengthening the three core pillars of ApeChain, Bored Ape Yacht Club, and Otherside. If the proposal passes, ApeCoin holders will lose all governance rights. This move is part of Yuga Labs' strategic restructuring, as the company recently sold the IP of NFT projects like Moonbirds and CryptoPunks to refocus on its core business.
Musk and Trump may have temporarily reconciled.
DogeDesigner (@cb_doge) posted on the X platform stating: "Musk responded to Bill Ackman, agreeing that he and President Trump should 'reconcile' for the sake of national interest." Previously, Musk had responded to Bill Ackman's tweet suggesting that "Musk and Trump are better together than apart," saying he was right.
Renowned investor Naval Ravikant comments on Trump and Musk: both need each other, and abandoning tax cuts is wiser.
Silicon Valley angel investor Naval, who has invested in multiple crypto projects, posted on X: "Musk's position is principled. Trump's position is pragmatic. Current technology needs support from Republicans. Republicans need future technological development. Abandon tax cuts, cut some spending, and pass the bill." Following this, Musk retweeted the post in support.
Uber CEO: Considering adopting stablecoin payments to reduce operating costs.
Recently, at the Bloomberg Tech event, Uber CEO Dara Khosrowshahi stated that the company is considering using stablecoins to reduce operating costs and believes that the development of stablecoins is very promising, especially for global companies.
Trump Media Technology Group submits S-3 form, with total financing of approximately $2.3 billion.
Trump Media Technology Group (DJT.O) submitted an S-3 registration statement regarding previously announced Bitcoin asset transactions, stating it seeks to register for the resale of approximately 56 million shares of stock and 29 million shares of convertible notes, with proceeds to be used for Bitcoin assets and general corporate purposes. An S-3 form has been submitted for a debt and equity subscription agreement signed with about 50 investors, with total financing of approximately $2.3 billion.
Truth Social registers Bitcoin and Ethereum ETFs in Nevada.
According to market news, Truth Social registers Bitcoin and Ethereum ETFs in Nevada.
Truth Social submits Bitcoin ETF S-1 registration statement.
According to Walter Bloomberg, Trump's social platform Truth Social submitted a Bitcoin ETF S-1 registration statement to the U.S. Securities and Exchange Commission.
Tesla faces the largest drop in history, with Musk's stock value shrinking by over $19.5 billion.
Due to the feud between Musk and Trump last night, Tesla fell over 14%, with a market value loss of $153 billion, marking the largest single-day drop in history. Musk holds about 12.8% of Tesla shares, and as a result, this portion has lost over $19.5 billion in value.
