According to Jinji Finance, on May 30, a Danish pension fund managing $25 billion in assets drew attention earlier this year for selling U.S. Treasury bonds, coinciding with Trump's threat to seize Greenland. Now, the fund has announced it will not invest in SpaceX. Its Chief Investment Officer, Schelde, stated that SpaceX is not only 'severely overvalued' but also has a 'disastrous corporate governance structure.' He pointed out that Musk is expected to hold about 80% of the voting rights while simultaneously serving in multiple key roles, including CEO, CTO, and Chairman of the Board.
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Danish Pension Fund 'Blacklists' SpaceX Over Poor Corporate Governance
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S&P 500 Index Set for Rare Nine-Week Winning Streak
On May 29, hopes that a ceasefire agreement could bring an end to the Middle East conflict have propelled the U.S. stock market towards a rare weekly winning streak record, with a surge in artificial intelligence trading also boosting the market. The S&P 500 index has rebounded nearly 20% from the lows triggered by the war and is poised for its ninth consecutive week of gains, marking the longest winning streak since December 2023. Such a rare occurrence has only happened a few times since 1985. On Friday, the index edged higher, hovering near record highs. -
Grayscale to Introduce $115 Million HYPE Token Seed Funding for Hyperliquid Staking ETF
On May 29, Finance Feeds reported that Grayscale is in talks with Hyper Holdings Global LP to sell shares of its proposed Hyperliquid ETF in exchange for approximately 2 million HYPE tokens, valued at about $115 million at current prices, to serve as seed capital before the fund's listing. At the same time, Grayscale has renamed the product to 'Grayscale Hyperliquid Staking ETF', which is set to be listed on NASDAQ under the ticker HYPG. The new staking feature distinguishes it from a traditional spot ETF that solely tracks token prices. -
BTC Falls Below $73,000
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Spot gold has reached $4,550 per ounce, rising 1.20% for the day. -
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On May 29, it was reported that the S&P 500 technology sector has reached a historic high, currently up 1.7%. -
U.S. Stock Indices Open Slightly Higher; Dell Rises Over 30%
On May 29, U.S. stocks opened with the three major indices slightly higher, with the Dow Jones up 0.18%, the S&P 500 up 0.09%, and the Nasdaq up 0.16%. Dell (DELL.N) surged over 30% as its first-quarter earnings exceeded expectations. Stocks of AI server manufacturers also rose, with Super Micro Computer (SMCI.O) up over 7% and HP (HPQ.N) up over 6%. -
Musk Denies Reports of SpaceX Lowering IPO Valuation Target to At Least $1.8 Trillion
On May 29, Musk denied reports that SpaceX had lowered its IPO valuation target to at least $1.8 trillion. (Jin Shi) -
BTC Surpasses $73,000
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Federal Reserve's Paulson: Monetary Policy is Moderately Restrictive and at an Appropriate Level
On May 29, Federal Reserve's Paulson stated that inflationary pressures have impacted the economy, and that monetary policy is moderately restrictive and at an appropriate level; current inflation is too high, having been elevated even before the onset of the war.
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