According to Odaily, BitMine's Class A perpetual preferred stock, BMNP, has been approved for listing on the New York Stock Exchange and is expected to begin trading on June 16. The annualized dividend yield is 9.50%. The initial cash dividend is $0.316667 per share, payable on June 22 to shareholders of record as of the close of trading on June 12. Subsequent weekly dividends are $0.105556 per share, payable on June 26 to shareholders of record as of the close of trading on June 16. (PRNewswire)

Odaily Planet Daily reports that 47-year-old Tennessee resident Misam M. Abidi has been indicted by a federal grand jury for allegedly operating a cryptocurrency investment fraud scheme between 2020 and 2024, illegally raising millions of dollars from investors through a company called "Star Credit Holdings." The indictment alleges that the defendant misled investors by making false promises, including guaranteeing high returns, claiming to have large reserves for security, and exaggerating the actual size of assets under management. Prosecutors point out that the scheme was essentially a typical Ponzi scheme: paying early investors' returns with funds from new investors, rather than profiting through actual trading. Furthermore, the defendant is accused of assisting investors in applying for loans in their own names and forging documents to obtain additional funds. The investigation shows that he misappropriated at least approximately $1.9 million from investor funds for personal and family expenses while failing to truthfully declare related income. The case involves multiple federal charges, including wire fraud, unlicensed money transfer operations, false tax filings, and money laundering. If convicted on all counts, the defendant could face a long period of federal imprisonment. (Decrypt)

According to GMGN data, the market capitalization of Solana's ecosystem token KINS briefly exceeded $12 million, currently trading at $10 million, representing a daily increase of over 21%. Odaily reminds users that the token's price is highly volatile, and investors should be aware of the risks.

According to an internal memo and media reports, Meta CEO Mark Zuckerberg told employees that the company "made some mistakes" during its AI-driven organizational transformation and anticipates similar situations may occur in the future. Zuckerberg pointed out that Meta is investing hundreds of billions of dollars in artificial intelligence to reshape its core business structure, but the rapid evolution of AI technology has brought significant organizational challenges. He acknowledged errors in some personnel adjustments and organizational restructuring, while emphasizing that the company will strive to provide greater organizational stability in the future and expects no further large-scale layoffs this year. In this round of restructuring, Meta already underwent a major overhaul in May, including approximately 10% of its global workforce being laid off and about 7,000 employees being reassigned to AI-related projects. Zuckerberg stated that some of the reassigned employees will be reassigned to model training and AI workflow-related positions to mitigate organizational shock. He also mentioned that the company will increase investment in team building, including increasing budgets for external meetings and collaboration, and plans to hold a large-scale hackathon in July to promote collaborative development of AI projects. Furthermore, Meta has noted the problems arising from the expansion of management responsibilities and plans to streamline its management hierarchy. The newly established Applied AI Engineering department reportedly employs a highly flat organizational structure, with some teams having an employee-to-manager ratio as high as 50:1. Meta declined to comment further on this internal memo. (Reuters)

Odaily Planet Daily reports that Saudi Kingdom Holding Company disclosed in its financial statements as of March 31 that it currently holds 42.4 million Class A ordinary shares of SpaceX, with a book value of $4.47 billion. Based on SpaceX's closing price of $160.95 per share last Friday, the fair value of Kingdom Holding's stake is approximately $6.83 billion (25.6 billion Saudi riyals). (Jinshi)