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Helius CEO Mert stated that the Zcash network is not down. He explained that some block explorers are connected to unstable nodes, which is causing them to display incorrect results.

Hardware wallet maker Ledger has discovered a chip flaw in competitor Trezor's latest device, an issue Trezor has transparently disclosed to the public, CoinDesk reported. Trezor officially announced that a vulnerability was found in a specific security chip used in its newest hardware wallet model, the Trezor Safe 7. However, the company explained that the flaw poses no risk to user assets and that no action is required from users.

Prominent Bitcoin skeptic and gold bull Peter Schiff has warned that Bitcoin could see a rapid plunge to below $20,000 the moment it loses the $50,000 support level. He argued that there is too much complacency among Bitcoin investors who believe the market is near its bottom, claiming the real bottom is still a long way off.

WTI and Brent crude prices fell sharply by $1 per barrel following a statement from U.S. President Donald Trump. He announced that a deal with Iran is in progress, adding that the country has agreed not to possess nuclear weapons.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

The Zcash network is down, InfinityHedge reported. No blocks have been produced in the past four hours.

Executives from global asset management firms and traditional banks have highlighted the security vulnerabilities of decentralized finance (DeFi) at the Proof of Talk conference in Paris, CoinDesk reported. While they acknowledged DeFi's potential to revolutionize the back-office infrastructure of global banking beyond speculative trading, they warned that large-scale institutional capital will never enter the space unless its significant hacking risks are resolved. In April alone, hacking incidents or vulnerability exposures occurred on as many as 27 days. Ben Nadereski, co-founder of Solstice, criticized that many DeFi developers are overly focused on coding while neglecting the core financial responsibilities of capital management and defense.

The American Bankers Association (ABA), a powerful lobbying group for the U.S. banking industry, is pressuring Congress to ban interest payments on stablecoins, releasing a public opinion poll to support its case. According to CoinDesk, a survey of 2,000 U.S. adults by polling firm Morning Consult found that 57% of respondents opposed paying interest on stablecoins, and 61% called for a cautious approach. In a statement, ABA President Rob Nichols said that as lawmakers create a regulatory framework for stablecoins, they should remember that Americans do not want rules that would harm local lending and economic growth, effectively calling for a ban on interest-bearing stablecoins. The U.S. Senate Banking Committee is currently working to pass an amendment to the Clarity Act through a bipartisan compromise and merge it with a bill from the Senate Agriculture Committee. The current draft prohibits crypto platforms from giving customers direct interest or deposit-like returns for simply holding stablecoins.

Franklin Templeton CEO Jenny Johnson stated that traditional financial institutions are reluctant to adopt public blockchains because the technology threatens their existing revenue models. She added that if smart contracts can process payments instantly, the transaction fee income that large banks have received as intermediaries could disappear. Johnson noted that Franklin Templeton's tokenized money market fund, Benji, operates on the Stellar blockchain. While the legacy system cost $1.30 per 50,000 transactions, the cost on Stellar was just $1.13. She suggested that the current roles of banks and custodians could continue, as retail investors still prefer regulated entities. However, Johnson concluded that the cost-saving effects of blockchain demonstrate its potential to replace traditional financial infrastructure.

Prosecutors in Qingdao, China, have ruled that Bitcoin qualifies as property under criminal law in a case involving the theft of 107 BTC, according to a local Chinese media outlet. The defendant, surnamed Zhang, was sentenced to 10 years and nine months in prison and fined 100,000 yuan (around $13,800) for using the victim's crypto wallet recovery phrase to steal the funds. The prosecution argued that Bitcoin meets the legal requirements for property as it possesses economic value and can be exclusively controlled. The value of the theft was calculated based on the more than 660,000 yuan (over $91,000) the defendant received from selling the stolen Bitcoin.

Veteran trader Peter Brandt has analyzed on X that Bitcoin is currently forming an expanding triangle pattern, which he noted is a reliable formation that has frequently appeared in the asset's price history. According to a chart shared by Brandt, a downside breakout from this pattern would target a price of approximately $56,000. He added, however, that the analysis would be invalidated if BTC establishes a position above $75,000.

On-chain analyst Axel Adler Jr. noted that Bitcoin's market momentum is rapidly turning bearish, with the "Bitcoin Impulse" price momentum indicator dropping to negative 59. He also pointed out that the 30-day "Net Taker Volume Position Change" indicator, which measures shifts in buying and selling pressure, has fallen below the zero line for the first time in approximately three months. According to Adler, this suggests that the aggressive buying pressure that fueled the previous bull run has been largely exhausted. He added that momentum indicators generally precede changes in fund flows, and both short-term and long-term momentum indicators are already deep in negative territory. While the 30-day "Net Taker Volume Position Change" has only recently turned negative and has not yet entered full "Bearish Territory," Adler stated that the market trend will become more certain if this indicator declines further while momentum indicators remain negative.

The UK's Financial Conduct Authority (FCA) has warned football clubs, including those in the Premier League, that sponsorship deals with unauthorized crypto firms and trading platforms could expose them to legal and money laundering risks and lead to reputational damage, Reuters reported. The authority urged clubs to strengthen their verification of sponsorship contracts, noting that some unlicensed crypto firms may already be promoting products to football fans through high-profile club endorsements despite lacking permission to operate in the UK.

Philip Martin, Chief Strategy Officer (CSO) at Coinbase, announced on X that he will resign from his position, effective June 2026. He will be succeeded by Jeff Lunglhofer, the company's current Chief Information Security Officer (CISO).

Garrett Jin, founder of the fraudulent crypto exchange BitForex, deposited 577,717 ETH (approximately $1.35 billion) to Binance between May 6 and 10, Lookonchain reported. At the time of the deposit, ETH was trading at a short-term high of $2,337 and has since fallen by 20%, Lookonchain added.

According to CoinNess market monitoring, BTC has risen above $67,000. BTC is trading at $67,008 on the Binance USDT market.

The spot Cumulative Volume Delta (CVD) chart analyzes the order book for the BTC/USDT spot pair. It is composed of a volume heatmap on top and the CVD indicator at the bottom. - The volume heatmap tracks the volume of trades at specific price levels. The background color brightens when the price lingers in a certain range or moves significantly. These brighter areas may act as support or resistance levels. - The CVD indicator represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. For example, the yellow line tracks orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

U.S. Ethereum spot ETFs saw a net outflow of approximately $90.14 million on June 2, according to data compiled by Trader T. This marks the 16th consecutive trading day of net outflows. - BlackRock ETHA: -$44.27 million - Grayscale Mini ETH: -$25.41 million - Fidelity FETH: -$15.63 million - Grayscale ETHE: -$3.87 million - BlackRock Staking ETHB: -$960,000

U.S. spot Bitcoin ETFs recorded a net outflow of $519.23 million on June 2, according to data compiled by Trader T. This marks the 12th consecutive trading day of net outflows, with the total amount withdrawn during this period reaching approximately $3.978 billion. - BlackRock's IBIT: -$388.68 million - Grayscale's GBTC: -$83.51 million - Fidelity's FBTC: -$45.14 million - Ark Invest's ARKB: -$16.67 million - Morgan Stanley's MSBT: +$14.77 million

According to Onchain Lens, the USDH Deployer address began transferring and selling a portion of its HYPE holdings starting about 12 hours ago. The address first unlocked 1.01 million HYPE, worth approximately $72.45 million, before transferring 209,984 HYPE ($15 million) to a newly created address. Additionally, it moved 200,000 HYPE ($13.76 million) to liquidity provider Flowdesk, of which 120,000 HYPE was sent to Bybit. The remaining 80,000 HYPE is currently being sold on Hyperliquid.

Wallets holding between 10 and 10,000 BTC sold a total of 24,602 BTC last week, according to data from Santiment. Meanwhile, small-scale addresses holding less than 0.01 BTC accumulated a total of 61 BTC.

According to Tokenomist, 750 million DeFi App (HOME) tokens are scheduled to be unlocked on June 10. This amount, valued at $36.87 million, represents approximately 19.79% of the token's circulating supply.

Major exchanges have seen $175 million worth of futures liquidated in the past hour. In the past 24 hours, $1,792 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $66,000. BTC is trading at $65,939.95 on the Binance USDT market.

24-hour crypto futures liquidations The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $728.61 million liquidated (93.47% longs) - ETH: $437.28 million liquidated (92.46% longs) - SOL: $83.09 million liquidated (96.46% longs)