Happy Friday. The IPO market is popping, crypto had a bad day, homebuyer sentiment is up, and Midjourney is getting sued. Let’s dive in!
📖 Read: Our in-depth look into passive income opportunities from investing in franchises.
🎤 Listen: To the newest episode of Smart Humans, with EquityMultiple CEO Charles Clinton, who talks about the current state of the real estate market and what and where to invest in.
This issue is brought to you by Boxabl - Invest in a New Chapter in Home Construction.
📈 DAILY MARKETS
*as of 6/12; Sources: S&P, BTC, FTSE, DJRE, 30YM
🚀 CHIME IPO
In another highly anticipated IPO, fintech startup Chime debuted on the Nasdaq under the ticket CHYM and rose 37% in its first day of trading. The offering raised $864 million and the valuation at the end of the day exceeded $12 billion, below its last private valuation of $25 billion but well above expectations. Earlier this week, the defense tech startup Voyager went public and saw shares jump by 82% on its first day of trading.
➨ TAKEAWAY: After a years-long lull, the IPO market has sprung back to life, a welcome sign for VC and private equity investors looking for liquidity. Last week’s darling Circle is up 243% since its IPO, and it has prompted multiple other crypto startups to pursue public offerings, including crypto exchanges Gemini and Bullish. Expect more companies to follow, especially those in crypto, fintech and defense tech that can look to recent successes for inspiration.
Partner
A New Chapter in Home Construction
What if new-home construction were nearly as easy as opening a book? That’s the story with BOXABL.
How? By using assembly lines to condense homebuilding from 7+ months to hours, BOXABL ships readymade houses to their final destination. Then, they’re unfolded and immediately livable.
They’ve already built 700+. But the real transformation’s still coming.
BOXABL’s currently preparing for Phase 2 – combining modules into larger townhomes, single-family homes, and apartments. And until 6/24, you can join as an investor for just $0.80/share.
They already fully maxed out a $75M investment campaign once, so don’t wait around.
*This is a paid advertisement for Boxabl’s Regulation A offering. Please read the offering circular at https://invest.boxabl.com/#circular
🎤 PODCAST
"Interest rates go down, cap rates go down, valuations go up.” - Charles Clinton
In this episode of Smart Humans, Slava Rubin talks with EquityMultiple CEO Charles Clinton about the importance of diversification, the impact of interest rates, and the state of the real estate market. Charles also gives his markets to watch and markets to avoid.
🪙 CRYPTO DOWNTURN
After topping $110,000 earlier this week, Bitcoin fell below $103,000, falling rapidly after news emerged of more Middle East conflict before leveling out. Overall, the crypto market cap fell by more than 4% in the past day, with major coins such as Ripple (-5.6%), Ethereum (-9.6%) and Solana (-10.1%) seeing significant drops.
➨ TAKEAWAY: As it has matured as a market, crypto has become more tied to global and macroeconomic factors, and the conflict in the Middle East is likely to negatively affect the public markets today with S&P futures already down 1.5%. Bitcoin has held up better than altcoins, but one of the supposed advantages of crypto is its utility during times of global strife, which does not appear to be playing out here.
Unlock your next private market investment: AIR Insiders get 50% off of Issuance Private - access curated deals, connect directly with founders, and invest seamlessly.**
**sponsored link
📰 NOTABLE NEWS
🏡 Homebuyer sentiment rises: The Fannie Mae Home Purchase Sentiment Index hit its highest mark of 2025, with lower concerns over unemployment, expectations that mortgage rates will drop, and a better overall outlook on the housing market. Despite the improvement, only 26% of those surveyed believe that now is a good time to buy.
🤖 Midjourney lawsuit: Disney and Universal filed a lawsuit against AI firm Midjourney for its image generator, alleging copyright infringement both in the images generated and in those used to train models.
⚾ Fanatics Fest museum: The main collectibles display at the upcoming event in New York next weekend will take up more than 10,000 square feet of space and will contain an estimated $200 million worth of cards and memorabilia.
🏢 Suburban multifamily boom: The strongest growth in multifamily construction in Q1 came from low-density areas, with permits rising 33% in suburban areas and 29% in rural regions.
🪙 Solana ETFs by year’s end: A move by the SEC to request updated paperwork from potential issuers of Solana spot ETFs indicates that approvals could come within the next two to four months.
🎨 $16.4 million rhino desk: François-Xavier Lalanne’s “Grand Rhinocéros II (2003),” a bronze and leather desk in the shape of the animal, sold for $16.4 million at Sotheby’s, more than tripling the high estimate of $5 million.
📝 IN CASE YOU MISSED IT
Monday: 🎬 Movie memorabilia, 😠 Trump/Musk feud
Tuesday: 🏢 CRE prices, 🎾 Tennis collectibles
Wednesday: 🤖 Meta & AI, ⌚ Watch auctions
Thursday: 📊 CPI Report, 🏡 Investor activity
Have a great weekend!
