Binance launched perpetual futures contracts tied to the expected valuations of private companies ahead of their public listings, starting with a SpaceX-linked product settled in Tether’s USDt (USDT).

Binance said pre-IPO perpetual contracts are expected to reflect publicly available IPO pricing indicators, including announced valuation ranges and final offering prices, before a company begins trading publicly. After a listing, the contracts would transition to tracking live market prices.

The first contract, SPCXUSDT Pre-IPO Perpetual, is tied to SpaceX’s expected public market valuation, with additional pre-IPO perpetual contracts to follow over time.

Source: Binance

The products do not represent ownership of the underlying shares and instead allow traders to speculate on expected valuations before and after a company’s public debut.

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According to Binance, contracts may later transition into a more standard perpetual futures structure once a stable reference price can be derived from the publicly traded shares. Contracts tied to IPOs that are delayed or canceled may also be delisted and settled under a separate process outlined by the exchange.

Related: Senator Elizabeth Warren questions Elon Musk about X Money

Crypto companies expand SpaceX-linked investment products ahead of IPO

The launch comes as Elon Musk’s aerospace company prepares for a public listing that could become one of the largest IPOs in US market history. In April, SpaceX confidentially filed for an initial public offering with the US Securities and Exchange Commission and could move forward with the listing as early as June. This week, the company confirmed plans to sell shares of its stock to the public.

According to reports, SpaceX could seek a valuation above $1.75 trillion and raise as much as $75 billion in the offering, a size that would surpass the roughly $29 billion raised in Saudi Aramco’s 2019 IPO.

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In recent months, crypto companies have increasingly launched products tied to SpaceX and other private technology companies ahead of potential public listings. In March, tokenized equities platform xStocks partnered with Fundrise to bring a fund holding private shares in companies including SpaceX, Anthropic and Databricks onchain.

In April, crypto exchange Bitget launched IPO Prime, a platform for pre-IPO investment products, starting with a SpaceX-linked offering called preSPAX. The product gave retail users economic exposure tied to the company’s potential public debut without direct ownership of the underlying shares.

On Wednesday, an SEC filing showed SpaceX held 18,712 Bitcoin (BTC) purchased at an average of $35,320 per coin, more than the 11,509 Bitcoin held by Tesla.

If the company were publicly traded today, it would rank seventh among public corporate Bitcoin holders, ahead of Coinbase Global’s 16,492 Bitcoin and behind Bullish’s 24,300, according to industry data.

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Top 10 Bitcoin treasury companies. Source: BitcoinTreasuries.NET

Magazine: eToro founder timed Bitcoin top perfectly due to belief in 4 year cycles

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Coinbase announced it will launch perpetual-style equity index futures in the U.S. on June 8, 2026. The new product allows traders to go long or short on equity sectors and market trends using a perpetual futures structure, similar to crypto derivatives products. The move extends Coinbase's reach… Read the full story at The Defiant

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SEC Commissioner Hester Peirce clarified the scope of a proposed innovation exemption for onchain trading of tokenized NMS stock, cautioning against mischaracterization of the initiative. Peirce stated the exemption would be limited and facilitate trading only of digital representations of the same… Read the full story at The Defiant

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The FIFA World Cup 2026 kicks off on June 11 across the United States, Canada, and Mexico. BeInCrypto analysts identified three sports stocks to watch with direct exposure to the tournament.

The 48-team format drives 20-30% jersey spikes, $3.3 billion in US sportsbook handle, and a record 340-hour broadcast slate. Each pick offers a direct play on one commercial flow.

Nike (NYSE: NKE)

Nike leads the sports stocks to watch discussion ahead of the FIFA World Cup 2026 kickoff on June 11. The company is classified as sports-adjacent rather than pure sports. The brand sponsors the on-field kits of roughly a dozen qualified national teams at the tournament.

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The roster includes co-hosts the United States and Canada, plus Brazil, England, France, and the Netherlands. Nike unveiled the official US Soccer kits on March 16 alongside Aero-FIT cooling technology built for summer 2026 conditions. Bernstein analyst Aneesha Sherman reiterated an $80 price target on Nike stock on May 11, implying 73.80% upside.

The catalyst lies in tournament-driven jersey demand. World Cup events historically push national team jersey sales 20% to 30% higher for sponsored federations. Nike outfitting the co-host countries plus top European and South American sides sets up a meaningful revenue tailwind.

NKE shares peaked near $68 in late February and slid to a local low of $41 on May 19. The stock then printed a $44 close on May 21, up 4.17% on the session.

Volume hit 27.06 million shares, the largest single-day total since mid-April. Nike also crossed above the 20-day exponential moving average (EMA), a trend-smoothing indicator, for the first time in weeks. The reclaim signals a tentative shift in the short-term trend.

The $41 floor must hold for the bullish thesis to survive. A clean break below dissolves the recovery setup. The first hurdle sits at $47, the 0.236 Fibonacci level marking the March 31 gap-down zone. A reclaim opens the path to $58, then $62, with the $68 February peak as the stretch target. A drop under $41 weakens the bullish theory.

DraftKings (NASDAQ: DKNG)

DraftKings stands out as one of the few pure-play sports stocks to watch ahead of the FIFA World Cup 2026. The company operates the largest US online sportsbook by handle, the industry term for total wagered dollars.

The tournament opens June 11 across the United States, Canada, and Mexico. Deutsche Bank projects $1.1 billion in incremental handle for DraftKings from the World Cup window. Total US handle could reach $3.3 billion, given that 135 million Americans now have legal online sportsbook access.

DKNG shares are priced at $25 on May 21, down 2.08% on the session. The daily chart shows an inverse head-and-shoulders pattern, a bullish reversal formation, since February. The head bottoms at $20, and the right shoulder anchors at $23 for now.

The neckline runs through $27. A close above $27 confirms the breakout. The measured move from head to neckline projects 30% upside, with the target near $35.

Chaikin Money Flow (CMF), a volume-weighted gauge of capital inflows, currently reads -0.02. The indicator is climbing toward zero from earlier negative readings. Rising CMF as price approaches the neckline signals accumulation rather than distribution.

A close back below $23 weakens the pattern. A break under the $20 head fully invalidates the inverse head-and-shoulders setup.

Fox Corporation (NASDAQ: FOXA)

Fox Corporation closes the list of sports stocks to watch ahead of the FIFA World Cup 2026. The company is classified as sports-adjacent, with Fox News driving roughly 40% of the company’s revenue. The corporation owns exclusive US English-language broadcast rights for the entire tournament.

Fox Sports will air a record 70 matches on the FOX network, more than double the 2022 count. An additional 34 matches air on FS1, with total programming reaching 340 hours. Every match from the Round of 16 onward, including the July 19 Final at MetLife Stadium, airs on FOX.

All three USMNT group matches air on FOX, starting with the June 12 opener vs. Paraguay. Tubi, the Fox-owned free streamer with 100 million monthly users, simulcasts the opening ceremony in 4K.

FOXA shares are priced near $64 on May 21, down 0.65% on the session. The stock is trading inside a parallel channel from its late-February low at $53. The recent swing high tagged $68 on May 18 before fading back.

The 20-day exponential moving average (EMA), a trend-smoothing indicator, sits at $64 as well ($64.19 to be precise). Price oscillates just above and below the line, with the EMA providing support. A clean close above the 20-day EMA confirms the bullish channel structure.

FOXA needs to hold $64, where the 0.236 Fibonacci level meets the 20-day EMA. A clean close opens the path toward $68, with $73 in view on a break. Below $64, the $62 Fib support comes into play. Losing $62 breaks the channel and exposes $60 and $58.

The post 3 Sports Stocks to Watch Ahead of the FIFA World Cup 2026 appeared first on BeInCrypto.

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Michael Saylor argues Bitcoin miners no longer determine the price of Bitcoin (BTC). The MicroStrategy executive chair says structured credit products now absorb every coin produced. That shift moves pricing power from mining output to institutional credit demand.

MicroStrategy will likely buy every bitcoin produced by miners until 2140, according to Saylor, with the firm’s STRC preferred stock, launched in July 2025, now anchoring that demand.

Why Bitcoin Miners No Longer Drive Price

Saylor framed the shift as structural rather than cyclical, arguing that the formation of digital credit means the credit market itself absorbs all organic bitcoin issuance.

That pattern continues until mining tapers off near the next century. Strategy already holds roughly $65 billion in Bitcoin.

The company bought more Bitcoin this year than miners produced, according to Saylor. The remark echoes prior data showing institutional bitcoin demand trends have repeatedly outpaced miner output during 2025.

“Strategy grabs twice the Bitcoin mined each year. Supply shock accelerates and locks in Bitcoin as the institutional asset,” one user remarked.

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STRC Becomes the Pipeline

STRC has grown from zero to about $10.5 billion in notional value in ten months. Saylor said $2 billion of that issuance came in the past month alone.

The instrument’s monthly STRC dividend rate sits at 11.5%. It resets to keep the share price near its $100 par.

The structure converts expected Bitcoin appreciation into a tax-deferred yield for credit investors while routing capital toward continued BTC purchases.

Strategy’s broader Bitcoin capital plan and rising STRC trading activity have drawn steady retail flows. However, critics question how long the model can compound.

Saylor’s Bitcoin empire bet now hinges on STRC scaling through the next halving in 2028. Sustaining the yield without straining the model is the open test.

For now, his thesis treats Bitcoin pricing as a function of structured finance rather than mining output.

The post MicroStrategy’s Saylor Says Miners No Longer Set Bitcoin Price, Another Force Has Taken Over appeared first on BeInCrypto.

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Rep. Nick Begich introduced the American Reserve Modernization Act (ARMA) in the House on Thursday, a bill that would codify the US Strategic Bitcoin Reserve into permanent federal law.

The Alaska Republican brought the legislation forward with 16 original cosponsors. ARMA would lock federally held bitcoin (BTC) for at least 20 years and require budget-neutral acquisitions.

What the ARMA Bill Changes

ARMA builds on the earlier BITCOIN Act framework and seeks to put President Donald Trump’s March 2025 executive order on a statutory footing. Statutes outlast executive orders, which any future administration can rescind.

Meanwhile, the bill authorizes the Treasury to acquire up to 200,000 BTC per year for five years, targeting a one-million-coin reserve.

Acquisitions must avoid new taxpayer spending, echoing earlier gold-sale funding proposals tied to Senator Cynthia Lummis (R-WY).

The 20-year hold applies to all federally controlled bitcoin, including roughly 198,000 to 328,000 BTC the government accumulated through criminal forfeitures such as the Silk Road and Bitfinex hack cases.

The Bitcoin Policy Institute has endorsed the package as a step toward professionalizing federal custody. Notably, the group framed the bill as a turning point for the strategic Bitcoin reserve concept.

ARMA … would put the US Strategic Bitcoin Reserve on permanent legal footing: requiring 20 year long-term Bitcoin holdings, budget-neutral acquisition strategies, and federal custody standards,” they wrote.

Committee hearings in the coming weeks will signal how quickly ARMA can advance.

The post US Congressman’s ARMA Bill Would Codify 20-Year Strategic Bitcoin Reserve appeared first on BeInCrypto.

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Cardano founder Charles Hoskinson said the blockchain risks losing its scientists if a 32.9 million ADA research proposal fails. He warned that the core research lab would shut before voting closes on June 8.

The appeal is addressed to the Japanese delegates (dReps) who voted against the proposal. The plan would fund post-quantum cryptography, zero-knowledge proofs, and scalability work at Input Output Global (IOG) and partner universities.

Charles Hoskinson Frames the Vote as Existential

According to Hoskinson, Cardano would lose its scientists if the proposal failed. He warned its research lab would also be forced to close, estimating the investment at hundreds of millions of dollars over more than a decade.

He directed his appeal at Japan, where Cardano ran an early vouchered ICO. Hoskinson urged ADA holders to delegate voting power to dReps backing the research agenda before the June 8 deadline.

“We are deeply saddened that some Japanese dReps voted against our research proposal. If this proposal does not pass, we want the entire Japanese community to fully recognize that Cardano will lose its scientists, and our lab will be forced to close,” he lamented.

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Treasury Vote Tilts Heavily Against the Research Proposal

The on-chain vote currently shows roughly 81% of active dRep stake opposing the action and about 18% in favor. That leaves the request far below the 67% approval threshold Cardano’s Voltaire constitution requires.

The proposal seeks 32.9 million ADA, worth around $7.9 million at current prices of $0.2519.

It funds work on Ouroboros Leios, post-quantum cryptography, and zero-knowledge proofs. Aggelos Kiayias, IOG’s chief scientist, leads the program, with researchers at Edinburgh, Tokyo, Oxford, and Buenos Aires.

Critics argue the request lacks tight milestones. They say it reads as a bundled annual budget rather than a series of auditable deliverables.

Several dReps want competing teams to bid against IOG through open RFPs rather than through automatic renewal. Voting runs through June 8.

“This doesn’t have anything to do with me. This has to do with destroying the entire core of our ecosystem. Cardano is the science coin. That’s our brand. We spent hundreds of millions of dollars and a decade to earn the right to say that. You don’t throw it away,” Hoskinson added.

A failed result would push IOG to choose between private funding, restructuring the proposal, or shrinking its work.

Each outcome would reshape how Cardano backs the academic pipeline behind its consensus design.

The post Cardano’s Science Coin Identity at Risk as Charles Hoskinson Warns of Research Collapse appeared first on BeInCrypto.

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The chance of Bitcoin (BTC) falling below $60,000 is “extremely slim,” according to data showing that BTC long-term holders increased their holdings to 71.6% of the total supply. In addition to this data, a key technical signal turned bullish for the first time since February.

BTC price may avoid fresh new lows, says analyst 

Crypto analyst Sykodelic said the possibility of Bitcoin revisiting fresh lows has “become extremely slim” after the weekly relative strength index (RS) retested the 50 level. Historically, Bitcoin has entered long-term expansion phases after the RSI recovered above that threshold following an oversold position. 

BTC/USD, one-week chart, and RSI analysis. Source: Skykodelic/X

The latest move came 105 days after Bitcoin’s weekly RSI entered oversold territory for only the fourth time on record. Skykodelic noted that the 2022 cycle was the lone exception in which Bitcoin later formed new lows, largely due to the FTX exchange collapse, and forced a market-wide drawdown. In that period, the RSI never retested 50 during the recovery attempt.

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BTC long-term holders (LTHs) are also leaning in the same direction. Crypto analyst CryptoZeno said Bitcoin’s one-year-plus holder metric has returned to the historical “oversold” accumulation zone that preceded major upside cycles in 2013, 2016, 2019 and late 2022.

BTC long-term holders (1+ year) metric. Source: X

CryptoZeno said earlier that market cycle highs in 2021 and 2017 usually formed when LTH holder distribution accelerated. The current readings instead point to a steady accumulation and a tighter available supply of BTC.

Onchain data supports that trend. Long-term Bitcoin supply climbed back above 15.04 million BTC for the first time since Oct. 1, 2025, accounting for 71.6% of the circulating supply.

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BTC long-term holder flow. Source: CryptoQuant

Related: Key Bitcoin price metric used by bulls falls to 6-week low, with silver lining

BTC miners are cautious amid bottom formation

Crypto analyst Pelin Ay said BTC miner activity still points to cautious positioning despite the strong LTH holder data. Binance pool miner reserves dropped to 41,915 from 41,987 in May, indicating a steady supply entering Binance. Speaking on the importance of Binance pool miner reserve data, Ay said, 

“Since Binance Pool represents a major share of the global hash rate, its behavior often reflects overall miner psychology before the broader market reacts. Falling reserves usually indicate that operational selling pressure is still continuing.”

BTC Puell Multiple and Binance pool miner reserve. Source: CryptoQuant

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Miner Position Index (MPI) readings remain below historical panic-selling levels, while the Puell Multiple stays under 1, signaling continued revenue pressure across mining operations. The analyst described the behavior as a “wait phase” often seen near bottom formations.

Related: Bitcoin due ‘5%+’ move as analysis stays bullish on BTC price outlook

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