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tea Protocol, a layer-2 network for open-source software, announced the official launch of its mainnet and native token, TEA, at 0:00 a.m. UTC on June 4. The TEA token was simultaneously listed on platforms including Aerodrome, MEXC, Gate.io, and KuCoin. Aerodrome, a major liquidity hub in the Base ecosystem, had previously initiated a liquidity pool vote for TEA. Holders of veAERO can vote to determine the reward distribution for the pool, supporting the formation of an on-chain liquidity market for TEA. In the future, users will also be able to access TEA liquidity through wallets such as Coinbase Wallet, Binance Wallet, OKX Wallet, and Trust Wallet. Additionally, KuCoin is holding trading and staking reward promotions to commemorate the listing. Tim Lewis, co-founder of tea Protocol, said that as AI accelerates software development, the demand for transparent, reliable, and sustainable open-source infrastructure is rapidly increasing across the software ecosystem. He added that "tea is building a new value network for this future."

An anonymous address (beginning with 0xad3D) on the prediction market Polymarket is facing a loss of around $300,000 (459 million won) from failed bets on the Seoul mayoral election. The address bet approximately 232,604 shares against the election of Oh Se-hoon of the People Power Party, resulting in a loss of about $200,000. It also bet 120,176 shares on the victory of Chung Won-oh of the Democratic Party, leading to an additional loss of around $100,000. According to multiple South Korean media outlets, Chung was initially favored to win, but Oh took the lead around 10:00 p.m. UTC on June 3. With over 97% of the votes counted, Oh is currently ahead of Chung by more than 20,000 votes.

The following is an analysis of the order book for the BTC/USDT spot trading pair using the Spot Cumulative Volume Delta (CVD) chart. The top section displays a volume heatmap, while the bottom shows the CVD. - The volume heatmap at the top tracks the scale of trading volume at specific price levels. The background color brightens when the price lingers in a certain range or makes a significant move. These brighter areas may act as potential support or resistance levels. - The Cumulative Volume Delta (CVD) indicator at the bottom represents buy and sell orders categorized by trade size. As buy orders for a specific size increase, the corresponding colored line rises. The yellow line tracks orders between $100 and $1,000, while the brown line tracks large-scale orders between $1 million and $10 million.

President Donald Trump has told his aides he will not resume an all-out war against Iran unless American troops are killed, The Wall Street Journal reported.

The Crypto Fear & Greed Index from data provider CoinMarketCap has dropped two points from yesterday to 23, continuing its Fear reading. The index indicates extreme market fear as it approaches 0 and extreme optimism as it nears 100. CoinMarketCap's index is calculated based on several factors, including the price movements of the top 10 cryptocurrencies by market capitalization, market volatility, derivatives market data such as put-call ratios, the Stablecoin Supply Ratio (SSR), and the company's own search data.

U.S. Senator Cynthia Lummis, a prominent pro-cryptocurrency lawmaker, stated that the CLARITY Act could potentially clear the full Senate by the July 4 recess, though she believes a vote before the Aug. 10 recess is a more realistic timeline. She made the comments in an interview with Crypto in America. Lummis noted that the Senate has a crowded agenda, explaining that the bill needs to be bundled with legislation from the Banking and Agriculture Committees, as well as some amendments to the GENIUS Act. "Negotiations are currently underway regarding ethics provisions for cryptocurrency use by public officials," she added. "Finalizing these details and packaging them into a single bill that can secure over 60 votes may delay its arrival on the Senate floor." The CLARITY Act has already passed the Senate Banking Committee's markup stage. Following a full Senate vote, it would still need to be reconciled with the House and signed by the president to become law.

Bitmine, a company focused on an Ethereum-based treasury strategy, plans to raise up to $300 million by issuing preferred stock that offers a 9.5% annual dividend, according to a filing with the U.S. Securities and Exchange Commission (SEC). The company intends to issue three million shares of perpetual preferred stock at a par value of $100 each, with dividends slated to be paid weekly in cash, pending board approval. The shares are expected to be listed on the New York Stock Exchange (NYSE) under the ticker 'BMNP'. The move mirrors a strategy used by MicroStrategy (MSTR) to fund its Bitcoin acquisitions with preferred stock, a tactic Bitmine is now applying to its Ethereum treasury. Bitmine currently holds over 5.3 million ETH and is reportedly facing an unrealized loss of approximately $9 billion amid the decline in ETH's price.

A voluntary disclosure program for cryptocurrency holders by the Israel Tax Authority (ITA) has yielded results far below initial expectations, local media outlet Globes reported. The Israeli government had anticipated securing up to $1 billion in tax revenue through the program, which was introduced in August 2025. However, the value of crypto assets declared so far amounts to only about $50 million. The program exempts individuals from criminal prosecution if they voluntarily declare unreported crypto assets or income and pay the corresponding taxes. To date, only 58 taxpayers have amended their filings under the initiative. Industry observers have pointed out that the lack of an anonymous reporting process is hindering participation, suggesting the program's effectiveness has not met expectations.

Cryptocurrency trading and payment infrastructure provider Paybis has announced that approximately 98% of the stablecoin remittances processed on its platform between January and April of this year originated from corporate customers. This marks a significant increase from 36% in 2023. Paybis noted that stablecoins are rapidly gaining traction as a method for business-to-business (B2B) international remittances and settlements. The digital goods, virtual asset, technology, e-commerce, and fintech sectors were particularly active, accounting for over 78% of all corporate stablecoin activity. Additionally, a survey revealed that 22.5% of respondent companies are either already using stablecoins for international payments or plan to adopt them within the next 12 months.

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has sanctioned multiple Iranian cryptocurrency exchanges, including the country's largest, Nobitex. According to CryptoPotato, other sanctioned entities include Wallex, Bitpin, and Ramzinex. U.S. authorities stated that the exchanges helped users evade sanctions, facilitated Iran-related financial activities, and processed transactions linked to Iran's Islamic Revolutionary Guard Corps (IRGC).

Major exchanges have seen $160 million worth of futures liquidated in the past hour. In the past 24 hours, $1,122 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $65,000. BTC is trading at $64,792.6 on the Binance USDT market.

Major exchanges have seen $113 million worth of futures liquidated in the past hour. In the past 24 hours, $979 million worth of futures have been liquidated.

Matt Hougan, CIO of Bitwise, said the cryptocurrency market is no longer the "Belle of the Ball." According to CryptoPotato, he explained that with prices under downward pressure and momentum weakening, crypto is struggling to generate investor enthusiasm, particularly given the dominance of the artificial intelligence (AI) market. Hougan argued that crypto has evolved from a momentum investment based on temporary excitement to a contrarian play requiring patience, a long-term perspective, and a focus on fundamentals. He clarified that this does not mean crypto itself is disappearing, but rather that the types of investors and projects are changing. As the market shifts away from momentum-driven trading, the importance of fundamentals is growing. Hougan suggested this could be a sign that the market is closer to the end of its winter than the beginning, but cautioned that the next few weeks could be painful.

Dallas Federal Reserve President Lorie Logan stated on June 3 that a rate hike might be necessary in the second half of this year to bring inflation down to the 2% target. Logan assessed the U.S. labor market as largely balanced, noted active investment in artificial intelligence (AI), and described financial conditions as still accommodative. However, she pointed out that the current inflation trend is not slowing toward the Fed's 2% goal. This situation, she said, suggests that current monetary policy is not having a restrictive effect on the economy. Logan added that there is growing concern that a rate hike may be needed in the second half of this year to fully restore price stability and properly fulfill the Fed's dual mandate.

The three major U.S. stock indices closed lower today. - S&P 500: -0.74% - Nasdaq: -0.89% - Dow Jones: -1.21%

Iran's military struck a U.S. Navy vessel in the Gulf of Oman, the country's Tasnim News Agency reported on June 3, citing military officials. The strike was reportedly a response to an 'act of aggression' by U.S. forces against an Iranian merchant ship hours earlier. The targeted U.S. vessel was described as the command and control center for the hostile action.

Jim Ferraioli, an analyst at major U.S. financial firm Charles Schwab, has argued that Bitcoin's recent weakness is not due to selling by Michael Saylor but rather a loss of upward momentum. According to CoinDesk, Ferraioli explained that Bitcoin has been in a bear market since October of last year, bottoming out in early February. He noted that while the launch of ETFs by large Wall Street firms helped Bitcoin recover from its February lows, the rally stalled before developing into the broad speculative frenzy seen in previous cycles. Ferraioli stated that crypto investors chase momentum, and that flow has now been cut off in the market. He added that capital that once pursued speculative gains in crypto is now moving to other promising investments such as gold, AI-related stocks, and IPOs. The analyst emphasized that the market impact of MicroStrategy's recent transaction has been exaggerated and is not the real factor moving the market, concluding that the biggest challenge facing Bitcoin is not Michael Saylor, regulation, or even the macroeconomy.

Users on the decentralized prediction market platform Myriad see a 71% probability that ETH will rebound after falling to $1,500. This figure has risen by 25% since mid-May. According to CoinMarketCap, ETH is currently trading at $1,824.51, down 4.49%.

The U.S. Federal Reserve's latest Beige Book, released on June 3, indicated that economic activity grew slightly in recent weeks while employment remained largely flat. The report highlighted that the effects of rising energy prices, driven by the conflict in the Middle East, are spreading throughout the economy. According to the report, the outlook for the next six months shows little change in growth expectations, but market sentiment is being weighed down by increased uncertainty and signs of slowing consumer spending. It also noted that various districts identified energy costs from the conflict as a key driver of inflationary pressure, with impacts seen in transportation, packaging, groceries, and fertilizer.

Raoul Pal, founder of Real Vision, has pushed back against the narrative that crypto is dead and that capital is flowing exclusively into tech stocks. He argued that while this idea is tempting, market performance since the 2022 liquidity cycle low tells a different story. Pal explained that BTC has surged between 4.1 and 4.3 times from that bottom, outperforming the Nasdaq 100's approximate 2.9-fold increase over the same period.

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

U.S. Treasury Secretary Scott Bessent has stated that the department is pursuing a plan for a strategic Bitcoin reserve and that he hopes the Clarity Act will pass this summer. According to The Block, Bessent emphasized during a Senate Finance Committee hearing the need for a clear regulatory framework for the crypto industry. He added that officials are working to establish a crypto custody system and make the U.S. a global hub for innovation, reiterating his goal for the bill's passage this summer and confirming that the Treasury is proceeding with the BTC reserve plan.

Strategy's perpetual preferred stock (STRC) has fallen to $94.84, a 5.2% discount to its $100 par value, sparking analysis that a crack has formed in the company's BTC acquisition structure amid a sharp crypto market downturn. According to Decrypt, Ryan Yoon, a senior analyst at Tiger Research, said the stock trading below its peg signifies a flaw in Strategy's high-leverage approach to buying BTC. Yoon explained that due to the burden of massive dividend obligations, hedge funds have been concerned that Michael Saylor might be forced to sell some of the company's BTC holdings to service its debt. This possibility has undermined the narrative of never selling BTC, placing immediate downward pressure on the cryptocurrency's price, he added.

Solayer (LAYER), a Solana Virtual Machine (SVM)-based Layer 1, has launched the mainnet for its on-chain perpetual futures trading platform, Margin Trade, The Block reported. The platform supports trading a variety of assets, including cryptocurrencies, commodities, and stocks, through a single Solana-based margin account. Margin Trade aims to offer the speed and capital efficiency of traditional finance while maintaining transparency and self-custody.