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Crypto, stocks, forex and macro, aggregated for traders.
ForkLog Roundup: Bitcoin at $60K, Institutional BTC Selling
ForkLog's weekly digest leads with a Bitcoin crash to $60,000, Bloomberg's forecast of a severe crypto winter, and institutional sales of 52,500 BTC through ETFs. Also featured are Zcash's 48% drop, Microsoft's quantum chip, and AI security news.
Hathor Network: Stablecoins Need Confidential Rails for Corporate Use
Hathor Network argues that stablecoin growth into corporate adoption requires privacy-preserving infrastructure with selective disclosure for compliance.
Hunter Biden: Fiat Is a Sham, Crypto Is Inevitable Future
Hunter Biden, son of former US President Joe Biden, stated that fiat currency is a sham and the banking class is corrupt, calling decentralized digital currency and blockchain the inevitable future.
CryptoQuant CEO: Bitcoin Would Be Near $22K Without Saylor, ETF Absorption
CryptoQuant CEO Ki Young Ju stated that Bitcoin could be trading around $22,000 if not for the absorption of 1.24 million BTC by Michael Saylor and spot ETFs over the past two years.
Zcash Plunges 48% After Fixing Critical Vulnerability
Zcash (ZEC) tumbled 48% following the resolution of a critical vulnerability in its network.
Bitcoin Drops Below $60K as Leveraged Position Liquidations Top $1.5B
Bitcoin fell under the $60,000 mark amid mounting selling pressure. Total liquidations of leveraged crypto positions have surged to $1.5 billion in the past 24 hours.
Adam Back: Bitcoin May Need New Signature Algorithms for Quantum Readiness
Adam Back suggests Bitcoin may need new signature algorithms in the future to prepare for quantum computing threats, but not because they are breaking the protocol today.
Crystal First to Tag Belarus Crypto Service WHITEBIRD Over EU Sanctions
Blockchain analytics provider Crystal has labeled addresses of Belarusian crypto service WHITEBIRD as linked to sanctions evasion, citing the EU's 20th sanctions package. Other providers have not yet applied similar tags, highlighting inconsistencies in AML risk assessments.
Critical Zcash Bug Allows Counterfeit Minting, ZEC Plunges 50%+
A vulnerability in Zcash could have enabled unlimited counterfeit ZEC; the token dropped over 50% with liquidations exceeding $100 million.
Chainalysis: Gray Market Peptide Payments Surge Past $100M, Driven by Bitcoin and Stablecoins
Chainalysis reports on-chain payments for gray market peptides exceeded $100 million annually, with Q1 inflows jumping 159% to $32 million, partly due to high costs of weight-loss drugs like Ozempic.
Spot Bitcoin ETFs Record $3M Inflow, End 13-Day Outflow Streak
On June 4, spot Bitcoin ETFs saw a net inflow of $3.04 million, breaking a 13-day outflow streak. Ethereum funds also attracted $19.3 million after 17 days of negative flows.
Grayscale Warns MicroStrategy Bitcoin Sale Stresses Financial Model
Grayscale Research flags MicroStrategy's first Bitcoin sale in a long time as a stress test for its aggressive accumulation strategy. MSTR shares fell 12.8% to a two-month low of $126, while a related floating-rate note trades below par, raising concerns of additional BTC sales.
Critical Bug in Zcash Orchard Pool Allowed Unlimited Fake ZEC Minting
Shielded Labs discovered a critical vulnerability in Zcash's Orchard privacy pool that could have enabled unlimited minting of untraceable fake ZEC tokens since its activation in 2022. The bug was fixed urgently, but there is no way to know if it was exploited.
Arthur Hayes Dumps ZEC Holdings Over Orchard Pool Exploit, Eyes Rebuy Lower
Arthur Hayes sold his entire Zcash (ZEC) position following the Orchard Pool exploit, stating that privacy must be proven, not merely probable. He remains open to buying back at lower levels and continues to hold Worldcoin (WLD), expecting a pump from Elon Musk.
Crypto Roundup: Mega Liquidations, Zcash Vulnerability, Stablecoin Moves
Over $1.12 billion in crypto liquidations, a critical Zcash bug patched in June, Arthur Hayes dumping positions, and major banks planning a tokenized deposit network highlight the past 24 hours.
Zcash Founder Reveals Critical Orchard Pool Counterfeiting Vulnerability
Zcash founder Zooko disclosed a critical bug in the Orchard pool that could have allowed unlimited undetectable minting of ZEC. The vulnerability was discovered on May 29 and patched by June 2.
US House Committee to Introduce Crypto Tax Legislation on Friday
A key US House committee is preparing to drop crypto tax legislation as early as Friday, covering staking, mining rewards, and aiming to bring digital assets in line with traditional securities tax rules, according to Bloomberg.
Bitcoin Drops Below $62K, BitMine Plans $300M ETH Purchase, Hyperliquid Share at 6.63%
Bitcoin slid below $62,000, while BitMine announced plans to issue $300 million in shares to acquire Ethereum. Hyperliquid's share of the derivatives market reached 6.63%.
Bitmine CEO Tom Lee Predicts ETH Will Surge 50x to $250,000
Tom Lee, head of Bitmine, forecasts Ethereum will reach $250,000, a 50x increase from current levels, despite his firm's massive unrealized losses and ongoing share dilution.
Crypto roundup: Bitmine files preferred stock, DOJ freezes $3.8M, Standard Chartered sees BTC bottom
Bitmine filed for 3M shares of 9.5% preferred stock, DOJ froze $3.8M in crypto, and Standard Chartered says bitcoin's bottom is near. Other news: Arthur Hayes exits HYPE/NEAR, Coinbase launches pre-IPO perps, DDC adds 90 BTC, and first BTC-backed mortgage completed.
Hyperliquid Perpetual Futures Volume Share Hits Record 6.63% of CEX in May
Hyperliquid's share of perpetual futures trading volume on centralized exchanges rose to a record 6.63% in May, driven by the HIP-3 proposal, though dollar-denominated volume saw a slight month-on-month decline.
US CLARITY Act Vote Likely Before August Recess, Lummis and Bessent Say
Senator Cynthia Lummis indicated that a vote on the CLARITY Act is probable before the August congressional break, while Treasury Secretary Scott Bessent expects the bill to pass this summer.
BitMine Immersion Technologies Files $300M Preferred Share Offering to Buy ETH
BitMine Immersion Technologies has filed with the SEC to publicly offer 3 million Series A perpetual preferred shares at $100 par, targeting $300 million in proceeds. The funds will be used to purchase additional ETH and expand staking infrastructure.
Bitcoin plunges below $65K, hits $61K; $1.61B liquidated
Bitcoin dropped nearly 5% in 24 hours, briefly touching $61,000, with $1.61 billion in crypto liquidations. Ethereum traded around $1,800. The sell-off coincides with renewed US-Iran tensions.