News

According to Odaily, Onchain Lens monitoring shows that Bitwise deposited 50,480 HYPE tokens worth 3.28 million US dollars into FalconX. As of June 7, 2026, Bitwise holds 1,553,865 HYPE tokens valued at 96.8 million US dollars.

Foresight News reported, citing Bits media, that Uzbekistani crypto entrepreneur Arut Nazaryan has been sentenced to two years in prison in the UAE for operating his crypto exchange Bistox without a license. The court also imposed a fine of 200 million dirhams (approximately 368.6 million yuan), an amount equivalent to Bistox’s total trading volume. Upon release, Nazaryan will not be allowed to leave the UAE until the fine is paid in full. He had previously been detained for five months, and prosecutors had sought a six-year prison sentence. Nazaryan moved from Uzbekistan to Dubai 12 years ago, where he founded the investment fund Morningstar Ventures and the crypto exchange Bistox, and issued the BSX token. In 2021, Bistox was embroiled in controversy after users were unable to withdraw funds, and the platform was accused of fraud due to lack of registration information. In 2022, Nazaryan declared bankruptcy and closed Bistox, later admitting in a video that he had faked a wealthy image to maintain a “billionaire” persona. Nazaryan is currently selling property and vehicles to repay debts.

(1) Jefferies expects that the London Metal Exchange (LME) copper price will rise to $6.50 per pound in 2027 (previously forecasted at $5.50), and reach a peak of $8.00 per pound during 2031-2032 (previously $6.50). (2) The supply side faces multiple pressures: recovery at the Grasberg mine is delayed, Kamoa-Kakula’s recent output is lower and costs are higher, and Chile’s April production hit its weakest performance in 23 years. The institution predicts that by the end of 2030, the copper supply gap will average 491,000 tonnes per year. (3) The increase in copper prices has a significant impact on downstream costs: a 25% rise in copper metal prices will increase manufacturing costs for white goods and electric vehicles by 5%-6%, and will push up data center construction costs by 3%.