Latest Crypto News & Market Updates

‘Time to take profit’ – Arthur Hayes dumps HYPE, NEAR before SpaceX IPO

Arthur Hayes, co-founder of BitMEX exchange and crypto-focused Maelstrom Fund, has joined the list of analysts viewing the upcoming SpaceX IPO as a bearish catalyst for the crypto market.　　According to him, the upcoming IPOs (SpaceX, Athropic, and OpenAI) have forced him to rebalance his altcoin portfolio. He dumped his entire Hyperliquid [$HYPE] and Near protocol [$NEAR], noting that it was “time to take profit.”　　Source: X　　However, for the SpaceX IPO scheduled for next week, Hayes billed it as positive to Worldcoin [$WLD].　　The SpaceX IPO is going to melt peoples faces off. Holding the $WLD through the listing next week.　　Perhaps, he was bullish on Worldcoin because of the protocols focus on human identification in the era of AI and AI agents. The altcoin surged 12% in the past 24 hours.　　But it is worth pointing out that Hayes comments are sometimes cues to take a contrarian trade. Some of his bullish posts in the past were immediately followed by a massive sell-off by his fund.　　For example, he made a bullish ‘$HYPE to $100’ call earlier in the week, only to report that he exited his entire holdings three days later.　　In fact, thats why most watchers sometimes view his bullish posts as a way

06-05Exchange

Comptroller says only Democrats pressuring over crypto trust charter

Jonathan Gould, the Comptroller of the Currency (OCC) nominated by Donald Trump, implied that the US president had not ordered him to approve or give special consideration to a national trust charter application tied to his familys financial interests.　　In a Thursday hearing of the House Financial Service Committee on “oversight of prudential regulators,” New York Representative Gregory Meeks questioned Gould on the Trump family crypto company World Liberty Financials connections to foreign governments and the Binance exchange. The company, whose co-founders include Trump and his sons, applied for an OCC charter in January, prompting backlash from many Democratic lawmakers alleging conflicts of interest.　　Representative Gregory Meeks at a Thursday hearing.　　Source: House Financial Services Committee　　Meeks said that the company “actively lines the pockets of the president‘s family,” pressing the comptroller to hold World Liberty to the same standards as other companies in consideration of its application for a national bank trust charter, “to prove if [he’s] still working on behalf of the American people, or [ceded his role] to serve as a fixer for the Trump family.”　　Meeks and Gould talked over each other at the hearing, with the New York lawmaker accusing the OCC head of being “Trump‘s fixer,” signaling his belief

06-05Exchange

Tom Lee‘s $250,000 ether target: Here’s what math says about this crazy prediction

Ether at $250,000 would make Ethereum a $30 trillion network, larger than the U.S. Treasury market and comparable to all the gold ever mined.　　But thats the target Bitmine chairman Tom Lee laid out at Proof of Talk in Paris this week, with the move pitched as a 50x from current levels on the back of AI-driven payments and a corporate validator takeover of the network.　　Lets dive into the math of how that target may be reached, starting with supply. Ethereums circulating supply sits at 121.75 million $ETH and is growing at 0.82% a year, because since the Dencun upgrade pushed most fee activity to cheaper layer-2 chains in 2024, the burn mechanism has collapsed to roughly 29,000 $ETH a year against issuance of 1.03 million $ETH.　　At $250,000 a coin, that 0.82% drift turns into $250 billion of fresh ether issued every year.　　The supply growth is not huge by itself. Gold supply expands at a similar pace, and the U.S. Treasury market grows much faster. Big assets can absorb new issuance if demand is strong enough.　　However it puts to rest the old “ultrasound money” trade that was built on the idea that Ethereum could become a shrinking monetary asset while usage

06-04Exchange

Not all Ethereum layer 2s are dying, but many general-purpose chains no longer have a reason to exist

When Zero Network announced it was shutting down last month, the reaction across crypto was weary: Another Ethereum layer-2 just bit the dust.　　The closure joined a growing list of struggling rollups and came amid renewed debate about whether Ethereums sprawling layer-2 ecosystem has become too crowded. At the same time, Ethereum creator Vitalik Buterin has urged developers to rethink the networks long-term scaling roadmap, while several major projects have shifted away from marketing themselves as general-purpose blockchains and toward more focused applications in payments, stablecoins and tokenized assets.　　To many observers, the developments have revived a familiar question: Has Ethereums sprawling layer-2 ecosystem become too crowded？　　Industry participants, however, argue the opposite.　　“The thing to recognize is that anywhere where somebody would be running a smart contract on an existing blockchain, someone could equally run a layer two,” said Ben Fisch, co-founder and CEO of Espresso Systems. “Were in a consolidation phase for general-purpose layer twos, not layer twos broadly.”　　Ethereum layer-2s exploded over the past several years as improvements in rollup technology dramatically reduced the cost and complexity of launching new chains. Rollups work by processing transactions off Ethereums main blockchain, bundling hundreds of them together, and then periodically posting compressed transaction data

06-04Exchange

Coinbase freezes $3M tied to Southeast Asia crypto fraud networks

Crypto exchange Coinbase said it froze more than $3 million in cryptocurrency tied to a global operation targeting cyber-enabled crypto scam networks in Southeast Asia.　　The operation was part of Disruption Week led by the US Department of Justices Scam Center Strike Force, which brought together government entities and private industries to tackle crypto fraud targeting Americans.　　“This operation is proof that scammers cant be stopped by any single company or agency acting alone,” said Coinbase.　　“It took social platforms, financial institutions, connectivity providers, and law enforcement working in lockstep to hit these networks at nearly every point in the fraud chain, online accounts, financial flows, and physical infrastructure all at once.”　　The operation also involved Meta, Microsoft and Starlink, which worked together to take down servers and other hosting infrastructure linked to scam networks and disrupt criminal activity across more than 1.4 million social media and email accounts, leading to several arrests by the Royal Thai Police Anti-Cyber Scam Center.　　Investment fraud and pig butchering are among the fastest-growing and most financially devastating forms of fraud targeting Americans, the DOJ said. The FBI reported earlier this month that Americans losses from crypto- and AI-related scams in 2025 exceeded $11 billion, with investment scams the

06-04Exchange

Bitcoin Price Faces Fresh Pressure as BlackRock and Winklevoss Wallet Moves Spark Speculation

Bitcoin price traders got another reason to stare nervously at on-chain dashboards on June 2 after more than 7,000 $BTC moved into exchange-linked wallets within a matter of hours.　　The transfers involved two of the markets most closely watched holders. Blockchain analytics platform Arkham flagged the activity as BlackRock and the Winklevoss twins shifted substantial amounts of $BTC while the broader market was already dealing with ETF outflows and a weakening price trend.　　Massive Transfers Grab Market Attention Fast　　BlackRock transferred 6,005 $BTC, valued at roughly $403 million, to Coinbase Prime. The transactions originated from wallets associated with the firms IBIT fund.　　Before traders rush to conclusions, theres an important catch. Coinbase serves as the official custodian for IBIT, meaning such transfers can be related to fund creation and redemption processes rather than outright market sales.　　Still, timing matters. The movement arrived after spot Bitcoin ETFs recorded more than $2 billion in outflows since mid-May.　　Exchange Wallet Activity Raises Questions　　Meanwhile, the Winklevoss twins transferred 1,000 $BTC, worth approximately $67.5 million, from Gemini custody into a Gemini hot wallet.　　Moves into hot wallets don‘t automatically signal selling activity. However, they often attract attention because exchange-accessible wallets can precede future transactions. That’s exactly why the market reacted.　　Bitcoin Price Battles

06-04Exchange

Bitcoin falls to local low of $61.4K as key data signals major bearish turn

Bitcoin [$BTC] fell by another 3.9% in the last 24 hours, extending its price plunge to a local low of $61.4K. Strategy announced a 32 $BTC sale, the first since 2022. Heavy spot ETF outflows helped drive the price even lower.　　As expected, this caused a lot of capitulation, especially from short-term holders who bought during the rally of the past three months.　　AMBCrypto had warned that a cascade of long liquidations could hit the market, especially since it was already reeling under hefty selling pressure. Other metrics pointed to reduced demand and greater distribution from holders.　　Exploring the Bitcoin bearish regime shift　　Source: Axel Adler Jr　　The impulse performance metric has a fast and slow impulse component. Both were bearish after the downturn over the past two weeks. The fast impulse was near -90, and the slow impulse had fallen to -59, according to crypto analyst Axel Adler Jr.　　It underlined deteriorating Bitcoin market conditions. The current regime has been firmly bearish, and the slow impulse would need to climb back into positive territory to signal a regime shift.　　Source: Axel Adler Jr　　The shifting regime was backed by a change in the taker demand trends. Since March, aggressive buyers had kept the 30-day net taker volume

06-04Exchange

Bitcoin flash crash below $62K wipes out $1.8B in leveraged bets

Bitcoin suddenly slipped below $62,000 during Asia trading on Thursday, pushing crypto liquidations over the past 24 hours to $1.8 billion, according to CoinGlass data. Leveraged long positions made up $1.5 billion of those losses.　　The selloff coincided with persistent withdrawals from US spot Bitcoin ETFs, which recorded around $397 million in net outflows on Wednesday, per Farside Investors. Investors have pulled about $1.4 billion from the funds so far this week, led by nearly $1.2 billion in net outflows from BlackRocks IBIT.　　Elsewhere, market participants tracked a 116-Bitcoin deposit from a Mt. Gox wallet to Bitstamp, following a separate $731 million transfer to a new address. The activity reignited speculation around pending creditor repayments before the October 2026 deadline.　　Advertisement　　At press time, Bitcoin traded at $64,628, marking a roughly 12% decline over the past seven days. Most major crypto, including Ether, BNB, and XRP, were also under pressure as the market extended its pullback.　　Worldcoin outperforms market, touted as proxy for AI boom ahead of IPO wave　　While most crypto traded flat to lower, a few stood out. Worldcoin ($WLD) rose approximately 33% over the past 24 hours, outperforming the broader market, followed by Ethena ($ENA), which gained about 18%.　　Maelstrom, an investment fund run

06-04Exchange

Strive in position to buy 10x BTC holdings at current fundraising pace, exec says

The chief risk officer of Strive, Jeff Walton, just shared that the Bitcoin treasury firm is raising $8.1 million in capital per day. At this pace, he claims Strive could generate enough capital to issue up to $15.5 billion in preferred stock and use those funds to purchase approximately 175,000 more Bitcoins at current market prices.　　He made those comments today, June 3, as Strive (NASDAQ: ASST) continues its trend of record-breaking weekly Bitcoin purchases.　　Walton claims that if the firm sustains its current fundraising pace through its SATA preferred stock program, it would be able to increase its total Bitcoin holdings by almost ten times.　　Strive breaking records each week　　Strive‘s Bitcoin treasury currently holds 19,000 $BTC, after an aggressive acquisition of 2,500 coins between May 23 and June 1 for roughly $185.2 million, according to Cryptopolitan’s previous reports. The purchase was funded almost entirely through SATA sales, at an average cost of about $74,092 per coin.　　Walton also stated yesterday, June 2, that last week was “the largest non-IPO single week buy in company history,” beating the record the company had set just two weeks earlier. “Strive team hit the $BTC order book hard last week,” Walton said. “19,000 total $BTC and picking

06-04Exchange

Agentic payment activity tops 100M transactions on Base

Agentic payment activity on Coinbases Base network has surpassed 100 million transactions, signaling that machine-to-machine payments are moving beyond the proof-of-concept stage in onchain environments.　　According to a new Chainalysis report, wallets interacting with Coinbases x402 protocol generated more than 100 million transactions on Base within roughly nine months of launch.　　The x402 protocol allows software agents to make onchain payments directly through web requests. When an agent requests access to a resource, such as a data feed or API, it can automatically complete a stablecoin payment without human authorization.　　Much of x402s early growth was driven by a memecoin experiment called PING, which required users to make a payment through the protocol to mint tokens. The project attracted large numbers of users looking to acquire the token, triggering a surge in transaction activity.　　Although activity moderated after the PING frenzy subsided, usage did not collapse. According to Chainalysis, transaction volumes have stabilized while the value of transfers has increased.　　In early 2025, transactions worth more than $1 accounted for roughly 49% of total value transferred through x402. By early 2026, that figure had climbed to 95%, suggesting that the protocol was moving beyond micropayments.　　Cumulative agentic transfer volumes on Base. Source: Chainalysis　　Onchain data points to

06-04Exchange

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