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TON Settles 6,000x Faster Than Bitcoin, Pavel Durov Claims

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TON Settles 6,000x Faster Than Bitcoin, Pavel Durov Claims

Telegram founder Pavel Durov shared data showing The Open Network (TON) finalizes transactions in 0.6 seconds. That places TON first among Layer 1 blockchains, far ahead of Bitcoin (BTC), which takes about an hour to settle.

The numbers arrive weeks after TON’s mainnet upgrade dropped finality below one second. Telegram has also tightened its operational grip on the chain through a record validator stake.

TON Tops Layer 1 Finality Rankings

Durov circulated a report that ranked Layer 1 blockchains by finalization time. The standout numbers came from the bottom of the chart, not the top.

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Bitcoin needed roughly one hour to harden a transaction against reorganization. The figure stems from its six-confirmation convention paired with 10-minute block intervals.

The spread between TON and Bitcoin works out to roughly 6,000x. That gap effectively rules Bitcoin out for any real-time settlement use case.

Cardano (ADA) finished last at a full day for finality. The chain has long marketed its peer-reviewed proof-of-stake design. The data placed it behind every Layer 1 it was built to compete against.

The middle of the field looked tame by comparison. Avalanche (AVAX), BNB Smart Chain (BNB), and Sui (SUI) all confirmed transactions in under two seconds. Hedera (HBAR), the XRP Ledger, and Stellar (XLM) cleared in under five.

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Solana (SOL) registered 13 seconds, TRON (TRX) about a minute, and Ethereum (ETH) 13 minutes. Litecoin (LTC) needed 15 minutes and Monero (XMR) 20 before Bitcoin and Cardano closed out the list.

The benchmark follows TON’s Catchain 2.0 upgrade. Block times now run at roughly 400 milliseconds, and finality dropped below one second on April 10.

Telegram’s Validator Role Reshapes the Network

Durov also confirmed that Telegram now operates as TON’s largest validator. The company staked around 2.2 million TON, valued near $2.9 million at the time.

He framed the position as a counterweight to other large operators. The setup lets major players join the validator pool without tipping the network toward centralization.

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Competition for the roughly 20% staking yield has lifted the share of supply locked in validation. That dynamic reduces circulating float and tightens TON’s available trading liquidity.

Critics have flagged that Telegram’s stake could approach a quarter of total validator power. The concentration raises governance questions even as transaction throughput climbs.

Toncoin climbed sharply after Durov posted the validator update. Markets read the move as a sign of deeper Telegram commitment to the chain it built around its messaging platform.

The comparison data gives Durov a fresh argument for TON’s technical position. Sustained adoption will depend on whether application activity keeps pace with the network’s headline speed gains.

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XRP stays around $1.10 as ETF inflows persist

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Traders analyzing XRP as it stays below $1.12
Traders analyzing XRP as it stays below $1.12

Key takeaways

  • XRP continues to consolidate around the $1.10 mark.
  • The bulls are holding the price above the $1.05 support level.

Ripple’s XRP is trading lower on Thursday, staying around $1.10 as the token attempted to reverse a downtrend that has persisted since mid-May. 

The downtrend comes as institutional demand for XRP-linked investment products continues to strengthen, even as retail traders remain cautious amid ongoing geopolitical tensions.

Geopolitical uncertainty continues to weigh on markets

Risk sentiment remains fragile as tensions between the United States and Iran continue to escalate.

Recent developments have included renewed military exchanges between the two nations, with US President Donald Trump stating that Iran has been slow to agree to a peace deal. Following those remarks, the US military conducted additional strikes that it described as defensive actions.

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Iran’s Islamic Revolutionary Guard Corps (IRGC) subsequently launched attacks targeting US military facilities in Kuwait, Bahrain, and Jordan.

The uncertainty has contributed to volatility across financial and cryptocurrency markets, limiting investor risk appetite.

Despite the uncertain macro environment, institutional investors continue to add exposure to XRP.

Data from CoinGlass shows that XRP spot ETFs attracted nearly $1.2 million in net inflows on Wednesday, following approximately $7.44 million in inflows on Tuesday.

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According to CoinGlass data, XRP futures Open Interest (OI) stood at approximately $2.43 billion on Thursday.

A falling Open Interest environment typically signals reduced speculative activity and limited conviction among short-term market participants.

XRP price analysis: Recovery attempt faces major resistance

XRP is currently trading around $1.10, but the broader technical picture remains bearish.

The token continues to trade below several major trend indicators. Remaining below all three moving averages suggests that the longer-term downtrend remains intact.

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Technical momentum indicators suggest selling pressure is easing, but not yet reversing.

The RSI is hovering near 44, indicating weak demand while remaining just above oversold territory.

The Moving Average Convergence Divergence (MACD) histogram remains in negative territory, signaling that bearish momentum continues to dominate despite the recent bounce.

If the bulls regain control, XRP could surge towards the 50-day EMA at $1.30, with additional hurdles at $1.40 and $1.61. 

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A break above $1.26 would be the first sign that bullish momentum is beginning to strengthen.

However, if the bearish trend persists, XRP could retest the $1.05 support level before dropping below $1.0 to test lower demand zones at $0.95

XRP/USD 4H Chart

XRP’s latest rebound is being supported by steady ETF inflows and growing institutional interest. However, declining futures activity, persistent geopolitical uncertainty, and a bearish technical structure suggest that the recovery remains tentative.

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Citi Launches Crypto Platform to Tokenize Private Company Shares

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🇺🇸

Just in, Citi(Citigroup) is launching a crypto platform to tokenize and trade shares of late-stage private companies for institutional and eligible investors. Citi is partnering with SDX, the digital asset arm of SIX Swiss Exchange, on a permissioned distributed ledger infrastructure.

The bank will act as custodian and tokenization agent, issuing securities in the form of authorized tokenized depositary receipts held through regulated financial institutions. Citi says it is already in discussions with some of the largest private companies to participate.

The platform is initially restricted to foreign investors, with U.S. access planned for a later phase once regulatory conditions allow. It targets a $75 billion late-stage pre-IPO equity market that has swelled as companies including SpaceX and Anthropic delay public debuts, leaving institutional capital with no clean secondary-market route into those positions.

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Discover: The Best Token Presales

Citi Crypto Tokenization Platform: SDX and Corda Infrastructure

The platform runs on R3’s Corda permissioned distributed ledger through SDX’s digital Central Securities Depositary. It is a regulated venue that sits inside the SIX Group infrastructure rather than on a public chain. It is also a fully permissioned, institution-grade blockchain stack designed to satisfy the custody, compliance, and settlement requirements of regulated financial intermediaries.

Citi issues the tokenized depositary receipts and holds the underlying securities as custodian. Distribution at launch runs through Sygnum Bank in Switzerland and SBI Digital Markets in Singapore, targeting institutional and qualified investors across Europe and Asia.

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Artem Korenyuk, Citi’s global lead for digital assets enterprise alignment and services enablement, described the investor experience plainly: private-company shares sitting “right next to their Apple stock.”

Trades in late-stage private equity currently involve manual, weeks-long processing and fragmented cap-table records. On SDX’s platform, according to the bank, those trades execute near-instantaneously.

Discover: The Best Crypto to Diversify Your Portfolio

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RWA Tokenization Stakes: A $5.5 Trillion Market Is Being Built on Permissioned Rails

Citi’s own Tokenization 2030 report puts the base-case size of tokenized real-world assets at $5.5 trillion by 2030, up from $17 billion today, with private markets, real estate, and money-market funds leading the growth.

The range runs from $2.7 trillion to $8.2 trillion, depending on regulatory velocity. Institutional demand signals have been mixed in recent months, which makes Citi’s structural commitment to tokenization infrastructure more notable, not less.

Just in, Citi is launching a crypto platform to tokenize and trade shares of late-stage private companies for institutional Investors.
Crypto Tokenization Report, Citi

The competition is direct. JPMorgan, Bank of America, and Citi are jointly developing a tokenized deposit network through The Clearing House, targeted for H1 2027, to compete with stablecoins on settlement rails.

NYSE has a tokenized securities platform planned for late 2026. DTCC ran limited production trades in July 2026 with full service from October.

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Wall Street is not piloting tokenization anymore; it is building production infrastructure, and the Citi–SDX platform is the first institutional-grade on-ramp to private equity within that emerging stack.

The pre-IPO angle sharpens the commercial logic. Institutional appetite for alternative assets has shifted as traditional corporate crypto purchases have softened, pushing yield-seeking capital toward private-market exposure. Citi is positioning tokenized private company shares directly into that gap.

Discover: The Best Token Presales

The post Citi Launches Crypto Platform to Tokenize Private Company Shares appeared first on Cryptonews.

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The Best Crypto to Buy? BlockDAG’s $0.05 Buyback Is the Only Number That Matters When Pi Network and Hedera Disappoint

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The Best Crypto to Buy? BlockDAG's $0.05 Buyback Is the Only Number That Matters When Pi Network and Hedera Disappoint

The crypto market is recovering, but not every coin is telling the same story. The Pi Network price is extending a painful downtrend with no clear floor in sight, while the Hedera price today is showing early signs of a bounce, though volume is too thin to call it a real reversal. 

Both coins are part of a wider market trying to find its footing, and both come with meaningful risks for anyone watching the best crypto to buy right now. BlockDAG is approaching this moment differently. No recovery story needed, no chart to wait on, just a Legacy Sale at $0.00000044 and a Buyback Program locking in $0.05 per coin. While others are still figuring out where the bottom is, BlockDAG has already built the exit.

Pi Network Price: 6 Straight Weekly Losses With No Floor in Sight

The Pi Network price is hovering below $0.1300 and recording its sixth consecutive weekly loss of 12%. Trading volume has been declining alongside price, which is one of the more concerning signals a chart can show. When price falls and volume shrinks at the same time, it means demand is not stepping in to absorb the selling.

Technically, the Pi Network price is sitting below the 50, 100, and 200-day EMAs at $0.1549, $0.1676, and $0.2142, respectively. RSI is hovering around 30, just above oversold territory, and MACD remains deep in negative territory. 

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Immediate support sits at the $0.1184 low from Saturday, followed by the S2 Pivot at $0.1124. Among the best crypto to buy conversations happening right now, Pi Network is not generating the kind of momentum that makes a compelling case.

Hedera Price Today Is Moving, But Is Anyone Behind It?

The Hedera price today sits at $0.08157, following a bounce off the key Fibonacci swing low support at $0.07687. That support level held, buyers stepped in, and the broader altcoin market gave HBAR a helpful tailwind.

The setup has real positives. Hedera was named a top altseason 2026 pick on June 6, with TOTAL2 breaking out of an 18-month accumulation range. Research linking HBAR to the proposed CLARITY Act and Kalshi’s filing for HBAR perpetual futures in the US adds genuine narrative weight. 

But trading volume dropped more than 50%. A bounce without volume is a bounce without conviction. Resistance sits at $0.0850, then the $0.0920 to $0.0950 zone. Losing $0.07687 support reopens the path to $0.0720.

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The Hedera price today is one of the more interesting setups among the best crypto to buy watchlists, but interesting and ready are two different things.

BlockDAG: A $0.05 Buyback Value Is Gaining Investors’ Attention 

Among the best crypto to buy options right now, most require a leap of faith. BlockDAG requires math. The Legacy Sale has BDAG priced at $0.00000044. The Buyback Program locks in a guaranteed exit at $0.05 per coin. That structure removes the single biggest risk in crypto buying in with no clear way out. While Pi Network is searching for a floor and Hedera is bouncing on thin volume, BlockDAG has already answered the question most buyers are asking.

For existing holders, BDAG Swap offers entry at 30% below the market price, with up to 250 million BDAG per wallet per day at $0.00025 per coin and uncapped daily sell limits.

Beyond the financials, the BlockDAG casino is a real demand engine. Every bet placed, every reward claimed, and every transaction processed inside it requires BDAG. That creates constant internal buying pressure that does not depend on market sentiment or outside speculation. Players come in, spend BDAG, earn BDAG, and cycle it back; everything stays within the ecosystem, keeping the token moving constantly.

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What makes this work smoothly is the technology underneath it. BlockDAG’s network delivers fast transactions, low fees, and high scalability. Smart contracts handle games and rewards automatically, making every interaction instant and seamless. 

In a market where Pi Network is losing ground weekly and Hedera is holding a fragile bounce, BlockDAG is running on structure. The Legacy Sale window is open but not indefinitely, and among the best crypto to buy opportunities in 2026, very few come with a guaranteed number already attached.

Final Thoughts

The Pi Network price is in a persistent downtrend with declining volume and no clear catalyst to reverse it. The Hedera price today is showing early recovery signs, but thin participation keeps the outlook cautious. Both coins carry real uncertainty, and both require patience that may not be rewarded quickly this year.

BlockDAG does not ask for that patience. The Legacy Sale entry and the Buyback return are time-limited and already drawing serious attention. A growing casino ecosystem powered by fast, low-fee, scalable technology keeps BDAG in constant circulation, building demand from within rather than depending on the market. 

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For anyone filtering through the best crypto to buy in 2026, the gap between $0.00000044 and $0.05 is not a prediction. It is already on the table, and it will not stay there forever.

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

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Discord: https://discord.gg/Q7BxghMVyu


Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

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MassPay Taps Coinbase to Expand Stablecoin Payouts

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MassPay Taps Coinbase to Expand Stablecoin Payouts

Cross-border payout platform MassPay and Coinbase announced a partnership on Thursday to offer stablecoin cross-border payouts.

The partnership connects MassPay’s network in 180 countries with the US-based exchange’s crypto infrastructure, allowing customers to move between fiat, USDC and other digital assets, the companies said in a joint statement shared with Cointelegraph.

MassPay CEO Ran Grushkowsky told Cointelegraph that stablecoins are still a small slice of the company’s transaction volume. Still, the company expects the new rails to support nine-figure payouts in the first year.

He added that clients using the system have seen costs fall by about 40% to 70% versus international wires, while settlement is near instant instead of taking days on traditional payment rails.

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MassPay and Coinbase partner on stablecoin cross-border payments. Source: MassPay

The partnership adds to a broader trend of established payments and financial infrastructure providers embracing stablecoins.

Stripe and Circle, for example, have also moved to expand stablecoin-based infrastructure for cross-border payments.

MassPay deepens stablecoin payout push

Under the partnership, Coinbase provides wallet infrastructure, custody and onchain settlement, while MassPay orchestrates last-mile payouts over bank transfer, mobile wallet and digital asset channels.

The companies split compliance responsibilities, with Coinbase providing regulated custodial infrastructure and licensing, while MassPay handles know-your-customer checks, sanctions screening and tax documentation across its network.

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Related: Coinbase to launch token-backed mortgage down payments this summer

Grushkowsky said MassPay already offers stablecoin payout capabilities via other providers and is now expanding capacity and credibility by adding Coinbase.

Stablecoins spread across payment rails

Beyond MassPay and Coinbase, other large payments players are also building stablecoin-based infrastructure for cross-border flows.

Stripe acquired Bridge in February 2025, a startup focused on scaling stablecoins to businesses, and said it expects stablecoin infrastructure to play a critical role in accelerating cross-border commerce.

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Circle, meanwhile, announced its Circle Payments Network in April 2025 to connect banks, payment companies and digital wallets for real-time cross-border settlement using USDC, EURC and other regulated payment stablecoins.

Magazine: Guide to the top and emerging global crypto hubs — Mid-2026

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‘AudiA6’ crypto laundering suspects face extradition to US

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'AudiA6' crypto laundering suspects face extradition to US

The pair behind a $389 million cryptocurrency laundering service dubbed “AudiA6” have been arrested following international investigations between the US, Europol, and 10 other countries.

According to a press release from the US Attorney’s Office, Eastern District of Pennsylvania, both Ruslan Igorevich Tkachuk, 37, Ukrainian, and Alexander Vladimirovich Ledenev, 25, Russian, are residents of Georgia, where they are currently in custody.

The US will be seeking the pair’s extradition, after which they could each face a maximum sentence of 20 years.

Europol called the platform the “most trusted by ransomware gangs and cybercriminal networks” and links it to “over 15 international cybercrime investigations.”

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In what is described as a “coordinated international takedown,” properties were searched, cryptocurrency was frozen, and online infrastructure was targeted, with the organization’s websites replaced by a law enforcement seizure banner.

The websites of AudiA6 and the Dark2Web forum were reportedly replaced with a seizure banner.

Read more: Crypto hack goes political as Grinex blames ‘Western special services’

As well as running AudiA6, the pair allegedly ran the cybercrime forum Dark2Web. On the forum, AudiA6 “explicitly offers to conceal and disguise” cryptocurrency linked to criminal activity “for a fee of up to five percent.”

According to US law enforcement’s blockchain analysis, over 10,000 bitcoin (BTC) are estimated to have been deposited into AudiA6 since its launch in 2021.

Of these, almost 400 BTC were deposited directly from illicit sources, with additional funds indirectly linked to illicit activity.

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KuCoin catches strays

Prolific blockchain investigator ZachXBT called AudiA6 “one of the top” users of centralized crypto exchange KuCoin where it ran a “centralized mixing services for cybercriminals.”

He believes AudiA6 laundered funds stolen from Swissborg last year, and LastPass users, which began in December 2022.

In April, the sleuth questioned why Kucoin would “allow” the laundering of crypto stolen via a fake Ledger app and from crypto ATM Bitcoin Depot.

Read more: KuCoin criticized for helping ‘launder’ $9.5M from fake Ledger app

Another blockchain sleuth is similarly critical of KuCoin in its alleged failure to prevent AudiA6’s operations.

SEAL contributor Nick Bax claims that KuCoin “facilitated” the laundering of “a very large amount of LastPass stolen funds.” He adds that “in rare cases” the exchange temporarily froze funds, but “would often release the funds back to the launderers.”

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He also points out that AudiA6 “literally advertised key sweeping,” the mass draining of crypto from stolen seed phrases, such as from a compromised password manager.

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on XBluesky, and Google News, or subscribe to our YouTube channel.

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new AI agent accounts that can trade and spend on your behalf

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Coinbase advisory board warns that quantum computing threat is on the horizon and crypto needs a plan

Coinbase has launched a new product called Coinbase for Agents, a platform that allows artificial intelligence agents such as ChatGPT and Anthropic’s Claude to connect directly to users’ Coinbase accounts and carry out financial transactions on their behalf.

The product, which went live on Wednesday, enables AI agents to trade cryptocurrencies, access market data, pay for online services and eventually make purchases, all within user-defined spending and risk limits.

Coinbase said the platform gives agents access to its advanced trading tools through natural language commands, allowing users to authorize tasks ranging from portfolio rebalancing to automated strategy execution. At launch, agents can trade spot crypto and derivatives markets, with support for equities and prediction markets planned for the future.

The company is also integrating support for x402, an open machine-to-machine payments protocol developed at Coinbase, which allows agents to make small payments for services such as premium research, data APIs and computing resources without subscriptions or manual checkout processes.

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Delaware and New Jersey Move to Ban Crypto ATMs Over Fraud Concerns

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Delaware and New Jersey Move to Ban Crypto ATMs Over Fraud Concerns


Delaware and New Jersey each advanced bills this week to ban cryptocurrency ATMs statewide, citing mounting scam losses that have overwhelmingly hit older residents. Delaware's House Bill 441 cleared the House Economic Development Committee on Monday after Rep. Cyndie Romer, Chair of the House… Read the full story at The Defiant

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Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor

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Gold slumps to 6-month low even as inflation fears rise. Here's why bullion is out of favor

Gold bars are displayed in a photo illustration, reflecting recent movements in gold prices driven by inflation concerns and central bank policy outlooks in Brussels, Belgium, on December 23, 2025. (Photo by Jonathan Raa/NurPhoto via Getty Images)

Nurphoto | Nurphoto | Getty Images

Gold fell to a fresh six-month low on Thursday as investors dump the once-hot trade on growing concern that higher inflation will force the Federal Reserve into possibly raising rates later this year, or at least keep them steady.

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There are other factors at play as well.

August gold futures touched $4,046.20 on Thursday, their lowest level since November. Gold is down 6.3% this week alone, putting it on pace for a second straight weekly loss and its worst week since mid-March,  when gold fell 9.62%.

It was last down 0.5% to $4,111.10.

Fed reversal

As a safe-haven asset, investors gravitate towards the yellow metal during times of market uncertainty and in hopes that it will act as a hedge against inflation. But because gold doesn’t yield anything, the metal is also especially sensitive to expectations for long-term, real interest rates.

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The Iran war, now in its fourth month, has fueled inflation by pushing energy and other prices higher.

U.S. consumer inflation in May increased at its fastest pace in three years in May, mainly from the surging prices of energy-related products. Together with a stronger-than-expected May jobs reports, expectations have grown that the Fed may need to raise interest rates by the end of the year to slow down price increases. 

Next week, the Federal Reserve is expected to hold its benchmark lending rate steady at 3.50% to 3.75% during Kevin Warsh’s first meeting as Fed chair. A majority of ⁠economists in a Reuters poll expect interest rates to remain unchanged ⁠this year after many were penciling in multiple rate cuts to start the year.

Traders less sanguine, and are currently pricing in a 67% chance of a Fed rate hike by December, according to the CME Group’s FedWatch tool. Higher rates, if they help stamp out inflation, can make dollar-denominated assets such as Treasury securities more attractive. 

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The technical breakdown

Based on price chart analysis, the overall technical picture for gold remains weak.

Gold recently broke below its 200-day moving average for the first time since September 2023, which Citigroup flagged as a major negative signal. The bank has been cautious near-term on gold ever since the war escalated in March, partly due to higher energy costs springing from the closure of the Strait of Hormuz.

Long-term, Citi was more bullish, however. “Despite the negative near-term momentum, we expect gold price to eventually rebound when the Strait situation deescalates,” its analysts said.

JPMorgan is more pessimistic, saying retail and institutional investors have retreated from the so-called “debasement trade” based on a belief that the U.S. dollar would continue to depreciate. The bank cited outflows from gold exchange-traded funds and weaker futures positioning as evidence of the move, tied also to concern about the size of government debt, inflation and geopolitical risks.

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Markets Rally as SpaceX IPO Looms Amid Iran Tensions and Inflation Surge

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E-Mini S&P 500 Jun 26 (ES=F)

Key Takeaways

  • Major U.S. equity indexes opened with solid gains Thursday, shaking off heightened U.S.-Iran geopolitical tensions
  • SpaceX’s anticipated Friday market debut could become the largest initial public offering ever recorded
  • Oracle (ORCL) shares plummeted more than 11% following cloud revenue disappointment despite surpassing earnings forecasts
  • Producer price inflation accelerated to 6.5% annually in May, marking the steepest climb since late 2022
  • Weekly unemployment filings exceeded forecasts at 229,000 for the period ending June 6

U.S. equity markets posted solid advances Thursday as traders shifted attention away from escalating Middle East hostilities toward the highly anticipated SpaceX public offering scheduled for Friday.

The Dow Jones Industrial Average surged approximately 310 points, representing a 0.7% increase. The S&P 500 advanced 0.5%, while the Nasdaq Composite climbed 0.7%.

E-Mini S&P 500 Jun 26 (ES=F)
E-Mini S&P 500 Jun 26 (ES=F)

The positive momentum persisted even as the United States executed additional military operations against Iranian targets. Market participants demonstrated resilience, with energy commodity prices remaining relatively stable.

West Texas Intermediate crude edged up merely 0.3% to reach $90.30 per barrel. Brent crude held steady. This price stability indicates that market participants aren’t anticipating significant further conflict escalation.

President Trump communicated via Truth Social that U.S. forces would conduct another strike Thursday evening and assume “total control” of Kharg Island—a critical Iranian petroleum export facility. He further indicated intentions to commandeer Iran’s entire energy infrastructure.

Despite these dramatic pronouncements, equities maintained their upward trajectory. Market strategists at Bespoke Investment Group observed that recent sessions have frequently witnessed early strength fade as investors shift capital from outperforming sectors toward more defensive holdings.

SpaceX Market Entry Anticipated Friday

Investor attention is firmly fixed on Friday’s expected public market introduction of Elon Musk’s SpaceX. The offering is broadly anticipated to shatter records as the most substantial IPO in financial history.

SpaceX will begin trading under the symbol SPCX. While official valuation and pricing information remains unconfirmed, the forthcoming debut has captured significant interest throughout the financial community.

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Oracle (ORCL) Tumbles Following Cloud Revenue Shortfall

Oracle emerged as a significant decliner Thursday. The enterprise software giant delivered quarterly results that exceeded analyst profit estimates, yet shares dropped more than 11% during premarket hours.

The selloff followed Oracle’s disclosure of cloud infrastructure revenue that fell short of investor expectations. Additionally, capital spending figures came in above projections, sparking concerns regarding profit margin compression.

Market participants had anticipated robust cloud business expansion, making the revenue miss sufficient to trigger a sharp downturn despite the company’s bottom-line performance exceeding forecasts.

Wholesale Price Pressures Reach Highest Point Since 2022

Economic data released Thursday revealed wholesale inflation running hotter than economists projected. The producer price index jumped 1.1% on a monthly basis and climbed 6.5% compared to the previous year.

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This represents the most significant annual acceleration since November 2022. Elevated petroleum costs connected to the Iranian military situation constitute a primary catalyst behind the surge.

Consumer inflation figures had already registered above expectations earlier in the week, making Thursday’s wholesale price report the second consecutive inflationary surprise.

Initial unemployment insurance applications for the week concluded June 6 totaled 229,000, surpassing the consensus estimate of 220,000. Continuing claims expanded to 1.795 million.

Investors will monitor how these inflation readings influence monetary policy expectations approaching the Federal Reserve’s upcoming policy deliberation.

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Citi Rolls Out Tokenized Private-Company Shares for Wealth and Institutional Clients

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Citi Rolls Out Tokenized Private-Company Shares for Wealth and Institutional Clients


Citigroup is rolling out tokenized shares of private companies for its wealth-management and institutional clients, the Wall Street Journal reported Thursday. The bank is already in discussions with private firms about joining the platform and hopes the model becomes an industry standard. The… Read the full story at The Defiant

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