In the past hour, total liquidations across the network reached $12.67 million, with $11.56 million from long positions, with $1.11 million from short positions. BTC liquidation $2.67 million, ETH liquidation $2.27 million.

Binance has announced the expansion of its tokenized stock lineup, adding five new BSTOCs, and also previewed a future SpaceX-related token, further enriching its real-world asset product line. According to Binance's announcement on June 11, the exchange has launched tokenized trading pairs related to Circle, Nvidia, Tesla, Micron, and Sandisk. The new assets include CRCLB, NWDAB, TSLAB, MUB, and SNDKB, with trading commencing on June 11. Binance stated that each token is backed by the corresponding stock holdings, although holders do not enjoy voting rights or shareholder privileges. The exchange also revealed that a SpaceX-related product called SPCXB will be launched in the future, with the specific release date yet to be determined.

According to Bijie.com, former engineer Devin Kim is suing Elon Musk's XAI and SpaceX for firing him after he raised safety concerns about Grok before the company's IPO. The lawsuit alleges that the Grok chatbot lacked protection against misinformation and bias, and Kim's legal team argues the case goes beyond a workplace dispute. Kim believes companies should be held accountable for punishing employees for reporting issues that could impact the public. The lawsuit states that Kim was an early employee of XAI, focused on mitigating potential hazards related to the design and deployment of AI products. Kim is currently seeking damages and other remedies. Despite the lawsuit, investor sentiment remains positive regarding SpaceX's IPO.

Odaily Planet Daily reports that Nasdaq-listed cryptocurrency mining company Ebang International announced its subsidiary has won a bid for an industrial land parcel in Xinghe County, Ulanqab City, Inner Mongolia Autonomous Region. The subsidiary plans to build a high-efficiency amorphous and nanocrystalline new material production base. The project will leverage Inner Mongolia's wind power, photovoltaic resources, and clean energy policies to focus on the research and development and manufacturing of amorphous and nanocrystalline new materials. The production base will specialize in manufacturing high-magnetic-induction, ultra-low-loss materials, with product performance meeting the latest transformer energy efficiency standards of the U.S. Department of Energy (DOE). These materials can be widely used in photovoltaics, energy storage, new energy power conversion equipment, and smart data centers. (Globenewswire)

According to Odaily, South Korea's Ministry of Finance and Economy stated that tokenized stocks are considered securities, not virtual assets. If the Financial Services Commission confirms their securities status, they could be taxed immediately under the current Capital Markets Act, potentially as early as the second half of this year. An official from the Ministry of Finance and Economy pointed out that while tokenized stocks are virtual assets in form, they are more closely related to securities in substance. The Financial Services Commission has previously clarified in its guidelines on tokenized securities that tokenized securities are securities issued in the form of digital assets and fall under the jurisdiction of the Capital Markets Act. Currently, the market generally considers tokenized stocks to be virtual assets, i.e., non-taxable assets, and eligible for tax exemption until the implementation of virtual asset taxation next year. The Ministry of Finance and Economy emphasized its tax stance and is establishing an information exchange system with overseas tax authorities such as the U.S. Internal Revenue Service. (bloomingbit)