Here is the paraphrased version:
U.S. spot Bitcoin ETFs record $84M in net outflows after three-day inflow streak
U.S. spot Bitcoin ETFs saw a combined net withdrawal of about $84 million on Wednesday, bringing an end to a three-session streak of inflows that had attracted approximately $509 million in fresh capital.
Elon Musk says SpaceX could reach an unmatched valuation
Elon Musk suggested that SpaceX has virtually no ceiling on its potential valuation if the company achieves its long-term ambitions.
Responding on X to a user questioning whether the May agreement involving SpaceX, xAI, and Anthropic could become the biggest “self-inflicted mistake” of the AI era, Musk said SpaceX could eventually become more valuable than the entire planet’s economy if its objectives are realized.
Meanwhile, SPCX shares showed signs of recovery, climbing 2.6% on Thursday to $152.16 after a recent decline.
Marc Andreessen joins leaders selected for Kevin Warsh’s new Federal Reserve task forces
Federal Reserve Chair Kevin Warsh announced the creation of five new task forces aimed at evaluating how the central bank operates in a rapidly changing economic environment.
Warsh said the U.S. economy has undergone major transformations over the past generation and that policymakers must reassess whether their tools, analytical methods, and communication strategies remain effective.
The five task forces will focus on:
- Communications: Improving how the Fed explains policy decisions and manages uncertainty.
- Balance Sheet Policy: Reviewing the effects, costs, and broader implications of the Fed’s balance sheet strategy.
- Data: Enhancing the speed and reliability of economic indicators used for policymaking.
- Productivity and Jobs: Studying how emerging technologies, including artificial intelligence, influence growth and employment.
- Inflation Frameworks: Reexamining how the Fed analyzes and responds to inflation pressures.
Among the notable figures involved is venture capitalist Marc Andreessen, who has argued that AI could drive significant gains in productivity and employment. Microsoft Xbox CEO Asha Sharma is also part of the Productivity and Jobs group, while former Walmart CEO Doug McMillon will help lead the Data task force.
Nasdaq climbs as oil prices and Treasury yields retreat; Bitcoin remains near $63K
U.S. stocks moved higher heading into Thursday’s close, with the Nasdaq gaining 1.25% as AI-focused companies such as Micron Technology, SanDisk, and AMD posted strong gains.
Markets appeared to move past recent Iran-related concerns, with WTI crude prices falling back toward $70 per barrel and U.S. bond yields easing.
Crypto markets stabilized after recent weakness. Bitcoin traded slightly above $63,000, gaining 1.6% over 24 hours, while Ethereum rose 0.75% to $1,751.
STRC continues to trade below its target value despite Strategy’s efforts
Strategy and CEO Michael Saylor have taken additional steps to strengthen confidence in their preferred stock offerings, particularly STRC, by ensuring dividend payments remain well supported.
The company recently sold nearly 4,000 Bitcoin, directing the proceeds into a reserve fund dedicated to covering dividends. Combined with existing reserves, Strategy now has enough funds to cover approximately 17.4 months of dividend payments.
Although institutional investors generally view 18 months of coverage as a strong safety level, STRC remains under pressure. The preferred shares recovered from recent lows but continue trading around $85, roughly 15% below their $100 face value, signaling continued investor uncertainty.
AI data center companies may be undervalued despite major contracts
Several AI infrastructure firms connected to Bitcoin mining may be trading below the value of their existing agreements with major cloud customers, according to research from Compass Point.
The report suggested investors should evaluate AI data centers more like real estate assets generating rental income rather than focusing only on future expansion plans.
Applied Digital was highlighted as the strongest example, with its signed contracts estimated to be worth around $27.6 billion after construction expenses, compared with an enterprise value near $16.7 billion. This suggests investors may be assigning little value to its remaining 2.6-gigawatt development pipeline.
The report also identified TeraWulf and Cipher Mining as companies trading below the value of their contracted operations, while Core Scientific and Riot Platforms have received greater recognition for existing deals and future growth opportunities.
MARA shares jump 14% after acquiring Texas energy site from HIF
MARA Holdings surged after announcing the purchase of a strategically located powered land site in Matagorda County, Texas, from renewable energy developer HIF.
The 1,200-acre property could provide access to up to 2 gigawatts of power by 2028, supporting AI data centers, high-performance computing operations, and Bitcoin mining activities.
The acquisition would raise MARA’s potential power capacity to approximately 4.8 gigawatts as the company expands beyond traditional crypto mining into broader digital infrastructure.
Mark Zuckerberg returns to X to unveil Meta’s Muse Spark 1.1 AI model
Meta CEO Mark Zuckerberg returned to X after a three-year absence to announce Muse Spark 1.1, the company’s latest large language model designed for AI agent applications.
The model features a one-million-token context window and can assign tasks to multiple AI sub-agents. Zuckerberg claimed it outperformed Google’s Gemini 3.1 Pro, OpenAI’s GPT-5.5, and Anthropic’s Opus 4.8 on key agent-focused benchmarks.
The release came alongside reports that Meta plans to begin producing its own “Iris” AI chip in September. Meta shares traded slightly lower at $598.65.
Bitcoin rebounds toward $63K as crypto markets recover from selloff
Bitcoin regained the $63,000 level as digital assets attempted to recover from Wednesday’s sharp decline.
BTC climbed about 2.4% over the previous 24 hours, while Ethereum, XRP, and Solana also moved higher but lagged behind Bitcoin.
U.S. equities also gained, with the Nasdaq rising 0.7% and the S&P 500 increasing 0.5%.
Cooling oil prices and declining bond yields helped improve market sentiment after tensions surrounding the Iran conflict triggered a risk-off move.
Semiconductor stocks rise as Meta expands in-house AI chip plans
Semiconductor shares gained in pre-market trading after Meta announced plans to produce its custom “Iris” AI chip beginning in September.
The move is part of Meta’s strategy to expand computing capacity from 7 gigawatts in 2026 to 14 gigawatts in 2027 while reducing dependence on Nvidia and AMD.
The development could benefit companies including Broadcom, TSMC, Samsung, and SanDisk, while driving gains in semiconductor-focused ETFs. Meta expects AI infrastructure spending to reach as much as $145 billion this year.
Bitcoin options show caution but avoid extreme panic levels seen in 2022
Bitcoin’s options market is signaling increased investor caution, with the 25-delta skew reaching 18%, indicating strong demand for protective put options.
The elevated reading reflects persistent concerns about potential downside risks as Bitcoin trades above $62,000.
However, current sentiment remains far less fearful than during the 2022 FTX collapse, when the skew exceeded 40%. The current level suggests investors are defensive but not experiencing widespread panic.
Amazon’s $25B bond sale shows weakening investor demand
Major technology companies are increasingly relying on debt markets rather than equity financing to fund AI infrastructure expansion.
However, investor enthusiasm appears to be cooling. Amazon’s recent $25 billion bond offering received weaker demand, attracting orders worth around 1.6 times the amount issued, below the average for major technology debt sales this year.
SK Hynix U.S. listing attracts strong demand despite South Korean market weakness
SK Hynix’s planned U.S. listing reportedly received more than seven times the required investor demand, attracting interest from global funds, sovereign wealth investors, and technology-focused buyers.
The offering of nearly 178 million American depositary receipts could raise close to $25 billion, making it one of the largest foreign listings in U.S. history.
Despite strong demand, South Korea’s market has struggled as AI-related stocks experienced sharp swings. Samsung and SK Hynix shares dropped significantly amid volatility tied to AI supply-chain developments.
Bitcoin remained range-bound near $62,700 as investor capital continued flowing toward AI infrastructure opportunities.
Oil prices retreat as Treasury yields stabilize
Oil markets eased as investors assessed the renewed U.S.-Iran tensions following the breakdown of a ceasefire agreement.
Brent crude slipped below $73 per barrel, down more than 2.5% over 24 hours, while Bitcoin gained around 1% near $63,000.
Gold and silver also recovered after recent losses, while U.S. Treasury yields stabilized following Wednesday’s increase. The 10-year yield remained above 4.5%, and the 30-year yield stayed above 5%, continuing to pressure risk assets.
Bitcoin ETFs return to outflows while Ethereum funds extend winning streak
U.S. spot Bitcoin ETFs recorded approximately $85 million in net outflows on Wednesday, ending a three-day inflow streak that brought in around $509 million, according to SoSoValue data.
The withdrawals were widespread, with BlackRock’s IBIT losing about $59 million, Grayscale’s GBTC declining by nearly $64 million, and Fidelity’s FBTC dropping roughly $15 million. Grayscale’s Bitcoin Mini Trust was the only major fund to record inflows, adding nearly $53 million.
Total Bitcoin ETF assets declined to around $75 billion.
Meanwhile, Ethereum ETFs continued their positive momentum, attracting roughly $70 million in inflows for a fifth consecutive session. Fidelity’s FETH accounted for most of the gains with about $69 million entering the fund.
Bitcoin traded near $62,300 and Ethereum around $1,740, with both assets down about 3% on the day. Ethereum has continued outperforming Bitcoin recently, supported by renewed ETF demand and progress around its long-term roadmap.
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