Uber Cuts 23% of People Team While Distancing Move From AI
Uber is cutting 23% of jobs in its People and Places division. The unit covers human resources, recruitment, workplace facilities, and culture under the newly promoted president, Jill Hazelbaker. The reductions impact fewer than 1% of Uber’s 34,000 global employees, though many of the affected roles are senior. A company spokesperson said the move is unrelated to artificial intelligence.
Hazelbaker stepped into the expanded role of president and chief corporate affairs officer only last month. She is a longtime Uber veteran from its marketing, policy, and communications ranks. In a memo to affected teams, she said the decision seeks to build a “more connected, modern, operationally excellent organization.”
Meanwhile, in a note addressed to company leaders, Chief Executive Officer Dara Khosrowshahi added that “these changes are necessary to maximize the effectiveness of the People team and the enormous potential ahead of us.” Roughly 10 million Uber drivers are classified as independent contractors, so they are not included in the count.
Across tech, many firms have justified 2026 layoffs by pointing to AI-driven automation. Nonetheless, Uber was clear that AI did not play a part in the decision. Uber is still hiring for more than 800 roles, including positions to commercialize robotaxis. However, it said last month it would slow hiring as it leans on internal AI tools.
Bitcoin spot ETFs saw a total net outflow of $397 million yesterday, marking 13 consecutive days of net outflows.
June 4th news, according to SoSoValue data, yesterday (June 3rd, US Eastern Time) Bitcoin spot ETFs saw a total net outflow of $397 million.
Yesterday’s largest single-day net outflow from a Bitcoin spot ETF was Blackrock ETF IBIT, with a single-day net outflow of $342 million. Currently, IBIT’s historical total net inflow has reached $62.636 billion.
Next was Fidelity ETF FBTC, with a single-day net outflow of $54.2553 million. Currently, FBTC’s historical total net inflow has reached $10.458 billion.
[PANews]
Gauntlet and Resolv reach USR vulnerability compensation agreement, over 4.379 million USDC can be claimed through Merkl
DeFi risk management protocol Gauntlet and on-chain yield protocol Resolv have reached a compensation agreement for the USR vulnerability. Gauntlet managed vault users affected by the incident can claim a total of 4,379,827 USDC in recovery funds through Merkl.
Among them, the v1 Morpho vault on the mainnet (Gauntlet USDC Core) and the v1.1 vaults that are no longer liquid (Resolv USDC on the mainnet and Extrafi XLend USDC on Base) are now open for claims. For the v1.1 vaults that still have liquidity (Gauntlet USDC Frontier on the mainnet and Seamless USDC on Base), claims can only be made after the vaults become illiquid.
Claim snapshots were completed at the time of market removal (v1) and liquidity exhaustion (v1.1), respectively.
[Foresight News]
Binance will upgrade its stock trading system on June 6, during which trading will be suspended.
June 4th news, according to Binance’s official announcement, due to system upgrades by the partner broker, Binance stock trading services will be temporarily unavailable from June 6, 2026, 7:50 to June 7, 0:00 (UTC+8).
Binance strongly advises users to cancel any outstanding stock orders before the upgrade. Uncancelled orders will be automatically cancelled at the start of the upgrade. This upgrade is scheduled outside of regular market trading hours, and services will automatically resume after the upgrade is completed.
[PANews]
CBB: Retail investors have already left the crypto market, and bulls are waiting for new large-scale capital to enter.
Trader CBB posted on X, stating that retail investors have long left the crypto market.
He believes that most current crypto market bulls are pinning their hopes on the entry of new large sums of capital to provide liquidity support for the market. He also lamented that the crypto industry exhibits a rather special market ecosystem.
[Odaily]
Polymarket’s “SpaceX will raise $70.0 billion–$80.0 billion in its IPO” market probability is currently at 88%, up 20% on the day.
Odaily Seer’s Oracle Channel monitoring shows that the probability of “SpaceX will raise $70–80 billion in its IPO” on Polymarket is currently at 88%, up 20% intraday.
This market settles based on the total funds raised at SpaceX’s IPO pricing, per data disclosed in the SEC’s final prospectus. Shares subject to the over-allotment option are excluded, and private secondary transactions are excluded. If the amount raised falls exactly at a boundary of the stated range, settlement occurs at the higher end; if the IPO is not completed by December 31, 2026, settlement occurs at the lower end.
Earlier news: SpaceX, owned by Elon Musk, filed a document with the U.S. Securities and Exchange Commission (SEC) on Wednesday disclosing its plan to fix the IPO share price at $135 per share—consistent with the price reported by sources—prior to officially launching its IPO roadshow. SpaceX stated it plans to issue 555.6 million shares, raising $75 billion.
Odaily Seer’s Oracle Channel continuously monitors prediction markets—seeing change before pricing.
[Odaily Planet Daily]
Re Launching Season 2 points event, a minimum of 3.5% token supply will be allocated
Decentralized reinsurance protocol Re launches its second season of points campaign.
This season is expected to last approximately 6 months, with a minimum of 3.5% of the RE token supply allocated as points rewards.
[Foresight News]
Lassie, an AI company co-founded by former Robinhood employees, has raised $35 million in its Series A funding round, led by a16z.
June 4th news, according to TechFundingNews, AI company Lassie, founded by former Robinhood and Superhuman employees Steijn Pelle and Frédéric Renken, has completed a $35 million Series A funding round led by a16z, with participation from Night Capital, the founder of Superhuman, the co-founder of Plaid, the co-founder of Wise, and others, bringing the total funding to $47 million.
Before writing code, the two co-founders spent months working manually in a dental clinic, handling insurance claims and reconciling payments. Lassie currently operates in over 700 clinics across 49 states in the US, saving owners more than 250,000 administrative hours annually.
[PANews]
Arthur Hayes has liquidated his HYPE and NEAR positions; the market peak may occur in September.
BitMEX co-founder Arthur Hayes posted on X stating that he has liquidated all his HYPE and NEAR tokens and will explain the reasons in his article “The Testing of the Real” to be released next Tuesday.
Hayes’ reasons include: energy prices rising due to the Iran war and inventory restocking; three major AI company IPOs from now until early Q3; and predicting that Trump will pivot to an anti-AI stance to help the Republican party win the mid-term elections.
He believes the market peak will occur between now and September, and it’s time to take profits.
[ChainCatcher]
OpenAI CEO Sam Altman: Not planning to donate to the 2026 US midterm elections
OpenAI CEO Sam Altman stated that he does not plan to fund political donations for the 2026 US midterm elections. Speaking during a visit to Washington on Wednesday, Sam Altman said that while he personally does not intend to make political donations, he understands those who commit to investing funds in campaigns, given the increasing opposition to his industry.
After meeting with Senator Bernie Sanders on Capitol Hill, Sam Altman said that they cannot be held to different standards than all their competitors. If others try to unite and suppress them with money, they must be able to fight back. However, he also hopes for a change in the overall rules and wishes for money to exit the political arena.
[Odaily]
Today’s Market Pulse
The crypto market faces a liquidity vacuum as retail investors exit while institutional funds continue to withdraw from Bitcoin spot ETFs, creating an environment where price discovery depends on new large-scale capital inflows.
Key Themes
Crypto Market Liquidity Squeeze
Bitcoin spot ETFs recorded 13 consecutive days of net outflows totaling $397 million yesterday, with BlackRock’s IBIT seeing the largest single-day outflow of $342 million. This occurs as retail investors have largely exited the crypto market, leaving bulls waiting for fresh institutional capital to provide liquidity support. The absence of retail participation coupled with continued institutional withdrawals suggests near-term price volatility until a new narrative emerges to attract substantial capital.
Traditional Tech’s AI Momentum
While Uber cuts 23% of People team roles (unrelated to AI per their statement), the broader tech sector continues to push forward with AI adoption. Lassie, an AI company co-founded by former Robinhood employees, raised $35 million in Series A funding led by a16z, indicating strong venture capital appetite for AI solutions. Meanwhile, OpenAI CEO Sam Altman navigates political challenges while maintaining no plans to donate to the 2026 US midterm elections. This traditional tech AI momentum could create competitive pressure on crypto AI projects or potentially drive capital toward crypto as alternative AI infrastructure.
DeFi Protocol Development Continues
Despite market conditions, DeFi protocols continue to build and address risks. Gauntlet and Resolv reached a compensation agreement for the USR vulnerability, with over 4.379 million USDC available for claim through Merkl. Additionally, decentralized reinsurance protocol Re launches its second season with a minimum of 3.5% of the RE token supply allocated as points rewards. These developments suggest protocol teams are focused on product maturity and user protection, fundamentals that could attract quality investors during market downturns.
RichSilo Verdict
Sophisticated investors should monitor the confluence of traditional AI developments with crypto’s liquidity shortage, as this could create asymmetric opportunities. The SpaceX IPO probability surge on Polymarket (88% for $70-80 billion raise) may divert institutional attention from crypto temporarily, but also represents a potential catalyst for broader market liquidity if successful. Concurrently, Arthur Hayes’ prediction of a market peak by September and position liquidation (HYPE, NEAR) suggests caution, though his contrarian calls have historically marked reversals. Watch for signs of new institutional entry points beyond ETFs, particularly in yield-generating DeFi protocols that demonstrate resilience during capital flight.
