Odaily News On June 9, Foreign Ministry Spokesperson Lin Jian hosted a regular press conference. A Reuters reporter asked, the first meeting of the China-US economic and trade consultation mechanism is being held in the UK, can China provide more information and what are its expectations for the consultation? "China has released relevant information about the first meeting of the China-US economic and trade consultation mechanism. Please keep an eye on the specific situation of the consultation." Lin Jian said. (The Paper)

Odaily News Matrixport released a chart today saying that Circle's valuation has been pushed up to $24 billion thanks to its blockbuster IPO, which is nearly $20 billion higher than the acquisition price proposed by Coinbase a month ago. In hindsight, the offer at that time was undoubtedly a "bottom price". The success of this IPO has undoubtedly rekindled Wall Street's enthusiasm for crypto stocks. Despite the impressive momentum, the crypto market as a whole has not shown the same enthusiasm. Data shows that Bitcoin's funding rate not only remains low, but even fell to negative values at one point. This may mean that some investors are hedging their risks by shorting Bitcoin while going long on crypto stocks. Regardless of the strategy adopted by investors, this optimism in the open market has not yet been transmitted to the crypto assets themselves.

Odaily星球日报讯 据官方公告，币安将于 2025 年 6 月 10 日 11：00（UTC）在 BinanceAlpha 开放 DefiApp（HOME）交易，并于 11：30（UTC）上线 HOMEUSDT 永续合约，最高支持 50 倍杠杆。此外，符合条件的用户可在 2025 年 6 月 10 日 11：00 至 11 日 11：00（UTC）期间使用 BinanceAlpha 积分领取专属空投。 （本条快讯由AI辅助生成）

Odaily News Citigroup said it expects the Federal Reserve to cut interest rates by 50 basis points (cumulatively) in January and March 2026. (Jinshi)

Odaily News Citigroup said it currently expects the Fed to cut interest rates by 75 basis points this year, including 25 basis points in September, October and December. It is expected that the Fed will cut interest rates by 50 basis points in January and March 2026 (cumulatively). (Jinshi)

Odaily News Lei Ming, who was once an investor in Huaxing New Economy Fund, invested in Circle in 2018. In his latest interview, he said that there was a certain amount of luck in investing in Circle seven years ago. At that time, Circle's main business was not stablecoins, and its valuation was only US$3 billion. Now the market value of US$20 billion is somewhat unexpected. The core judgment of investing in Circle is that blockchain technology can create very large commercial and social value in the future. The essence of finance is license ability, and Circle happened to be the one with the most complete licenses at that time. Circle was listed on the New York Stock Exchange last week, becoming the "first stock of global stablecoins". After two trading days, the stock price has risen by 247.42% from the issue price, with a market value of approximately US$24 billion. This IPO issuance of Circle ultimately raised US$1.1 billion and received more than 25 times oversubscription. (IPO Early Knowledge) Earlier news, Hong Kong-listed company Huaxing Capital disclosed that its Huaxing New Economy Fund had invested in Circle as early as 2018. The company will continue to be optimistic about the development of blockchain technology and actively explore the layout in the fields of Web3.0 and cryptocurrency assets.