Cardano founder Charles Hoskinson said he is “taking a break” after warning that the blockchain’s ecosystem faces a coming “wave of failures,” as ADA fell below $0.20 for the first time in more than five years.

ADA is down nearly 10% on the news, according to CoinDesk market data. The token is down nearly 70% over the past year.

The comments came in response to the shutdown of TapTools, a Cardano analytics platform that said it would cease operations after four years building on the network.

“This is where we’re at as an ecosystem,” Hoskinson said in a video posted earlier this week.

The Cardano creator said he had warned earlier this year that deteriorating market conditions would force some projects to close.

“I said at the beginning of the year, we’re going to see a lot of people collapse because the markets are really bad,” he said. “There’s going to be a wave of failures in the ecosystem.”

Hoskinson also expressed frustration with what he characterized as limited community support for deploying treasury funds to support ecosystem growth.

“There doesn’t seem to be a lot of community desire to spend the treasury to take these ventures to the next level,” he said.

The remarks come days after Cardano’s community voted against funding the ecosystem’s flagship 2026 Summit conference in Singapore, forcing organizers to cancel the event.

“TTYL,” Hoskinson posted on X.

Key Takeaways

• An original 25-bitcoin Casascius physical coin minted between 2011 and 2013 had its security hologram peeled off earlier this week.
• The coin contained 25 BTC valued at approximately $1.78 million, which were accessed on-chain for the first time in more than twelve years.
• The transaction appeared in Bitcoin block 952,159, processed by AntPool, with a minimal network fee of $2.79.
• On-chain records reveal that only 0.01 BTC was transferred out — leaving 24.99 BTC at the original address, indicating the owner likely performed a security test.
• This redemption coincides with heightened dormant Bitcoin movement, including another 2011 wallet that transferred 35 BTC after 15 years of inactivity.

A physical Bitcoin token valued at $1.78 million was unsealed this week after remaining untouched for more than a decade — here’s the full story and why it’s capturing attention across the crypto community.

Understanding Casascius Physical Bitcoins

Casascius physical coins were innovative collectibles produced by software developer Mike Caldwell from 2011 through 2013. Each piece contained an actual Bitcoin private key concealed beneath a tamper-proof holographic sticker affixed to its reverse side.

These collectibles were manufactured in various denominations, from 0.5 BTC up to 1,000 BTC. Caldwell produced under 20 units of the 1,000 BTC denomination — each worth approximately $66 million based on today’s valuation.

These coins represented an innovative cold storage solution during an era before dedicated hardware wallets became available. Manufacturing materials ranged from brass alloy to gold-plated precious metal bars.

Caldwell ceased production in late 2013 following intervention by the U.S. Financial Crimes Enforcement Network, which informed him that his operation constituted unlicensed money transmission.

Details of the Unsealing Event

On June 2, someone peeled the holographic security seal from a 25-bitcoin Casascius coin originally minted during the 2011–2013 production run. The corresponding transaction received confirmation in Bitcoin block 952,159, which was mined by AntPool.

The network fee for the redemption totaled only $2.79 — an insignificant cost to unlock access to $1.78 million worth of Bitcoin.

The redemption process is simple yet permanent. Removing the hologram exposes a private key printed on an internal card. The holder then imports this key into a Bitcoin wallet to access the funds. Once the holographic seal is broken, it leaves behind a distinctive honeycomb pattern, permanently destroying the coin’s collectible value.

Blockchain tracking data identified by Galaxy Research indicates the holder only sent 0.01 BTC to a separate address. The bulk of the funds — 24.99 BTC — remained at the original Casascius address.

This pattern strongly suggests the owner was verifying the private key’s functionality rather than executing a complete fund transfer.

Collectible Value of Unbroken Coins

Untouched Casascius coins generally command prices exceeding their Bitcoin face value. Collectors routinely pay significant premiums for physical pieces with intact holographic seals.

By breaking the seal, the owner essentially transformed a potentially more valuable collectible artifact into liquid Bitcoin. Thousands of Casascius coins across all denominations remain unredeemed to this day.

The Casascius initiative also spawned additional physical Bitcoin manufacturers, including Lealana, Denarium, and BTCC. However, Casascius continues to dominate the collector market.

Recent Dormant Bitcoin Activity

This unsealing event occurred during a noteworthy period for ancient Bitcoin wallets. A different wallet dating to 2011 transferred 35 BTC after remaining inactive for 15 years.

The individual who redeemed the Casascius coin has not been publicly identified.

At the moment of redemption, Bitcoin was trading around $65,219 — representing a 3.3% decline over the previous 24 hours.

Key Takeaways

• Scott Bessent, Treasury Secretary, informed senators that the strategic Bitcoin reserve initiative is advancing rapidly
• Federal holdings currently stand at 328,372 BTC, valued at approximately $215 billion
• Bessent called on Senate leadership to approve the Digital Asset Market Clarity (CLARITY) Act before summer concludes
• The legislation successfully passed House review last year but remains pending in the Senate
• White House digital asset adviser has floated July 4 as a potential signing deadline

During testimony before the Senate Finance Committee on Wednesday, Treasury Secretary Scott Bessent provided an update on efforts to establish America’s strategic Bitcoin reserve and expand its digital asset portfolio.

Testifying during discussions about the Treasury Department’s fiscal year 2027 budget proposal, Bessent explained that his team is implementing the president’s 2025 executive directive regarding the reserve establishment with careful attention to detail.

“We are moving forward very quickly on that,” Bessent testified. He emphasized that the department is ensuring implementation follows industry best practices and creates a sustainable framework.

The United States government currently maintains custody of 328,372 Bitcoin across its various holdings. Based on prevailing market valuations, this cryptocurrency stockpile represents approximately $215 billion in value.

These holdings have accumulated through government seizures from criminal proceedings and enforcement actions. According to statements from Treasury officials in March, there are no current plans to acquire additional Bitcoin through market purchases.

Bessent declined to specify whether cryptocurrencies confiscated from Iranian sources have been incorporated into the official reserve calculations. Reports indicate Iran has been extracting Bitcoin payments from vessels transiting the Strait of Hormuz.

Several states have taken independent action rather than awaiting federal coordination. Texas legislators have enacted their own state-level cryptocurrency reserve program.

Understanding the CLARITY Act Framework

The CLARITY Act represents the first comprehensive federal regulatory framework for digital assets. The legislation would establish clear guidelines for applying current securities and commodities regulations to cryptocurrency markets.

The House of Representatives approved the measure during the previous legislative session. Both the Senate Banking Committee and Agriculture Committee have advanced separate versions, which now require reconciliation before the full chamber can vote.

During his testimony, Bessent urged congressional leaders to prioritize the legislation. “It’s very necessary to bring US best practices onshore,” he stated.

He indicated that the administration has set a summer deadline for Senate passage of the CLARITY Act.

White House digital asset adviser Patrick Witt mentioned in May that President Trump has identified July 4 as a target date for a potential signing event. Several senators have expressed optimism about passage occurring before the August recess.

Obstacles Facing Legislative Progress

The legislation has encountered roadblocks stemming from multiple contentious provisions. Outstanding disputes involve questions about stablecoin yield distribution, liability protections for software developers, and potential conflicts of interest related to Trump’s personal cryptocurrency investments.

The window for action is narrowing considerably. Congressional focus is increasingly turning toward mandatory budget legislation, while the approaching November midterm elections loom on the political calendar.

Senate Finance Committee Chair Mike Crapo also addressed the CLARITY Act during Wednesday’s hearing, questioning Bessent about specific timing expectations.

Bessent additionally confirmed that Congressional approval of stablecoin regulation forms a critical component of the administration’s strategy to position the United States as the global leader in digital asset development.

Senate leadership has not yet scheduled a floor vote on the CLARITY Act.

Key Takeaways

• HYPE token reached a new peak of $74.67, surpassing Solana’s SOL token in price—a first-time milestone for the asset.
• Grayscale’s newly launched HYPG ETF joins two other U.S.-listed products tracking HYPE, collectively accumulating more than $136 million in net inflows within three weeks.
• While Bitcoin ETFs experienced $396 million in withdrawals on Wednesday, analysts suggest capital may be shifting toward HYPE and comparable digital assets.
• The Hyperliquid platform recorded over $62 billion in May trading activity, capturing a record-breaking 6.63% of worldwide perpetual futures market share.
• Investment research firm CoinShares released a detailed valuation model projecting HYPE could trade at $147 per token by 2031, citing its buyback system and expanding market presence.

The HYPE token from Hyperliquid has surged to unprecedented price levels throughout this week, propelled by mounting institutional adoption, fresh ETF offerings, and accelerating platform utilization. The digital asset touched $74.67 on Tuesday and has been trading in the $73–$74 range through Thursday.

U.S. investors can now access HYPE through three distinct exchange-traded products. Grayscale unveiled its HYPG Hyperliquid Staking ETF on Wednesday, complementing existing offerings from 21Shares (THYP) and Bitwise (BHYP). Collectively, these investment vehicles have generated approximately $600 million in trading volume and attracted over $136 million in net capital during their first three weeks of operation. According to Grayscale, HYPG features the most competitive management fee structure among domestic HYPE products while providing staking yield opportunities in addition to price exposure.

[[LINK_START_0]]https://twitter.com/Grayscale/status/2062157939054666088?s=20[[LINK_END_0]]

These ETF products enable mainstream investors to obtain HYPE exposure via traditional brokerage platforms, eliminating the need for cryptocurrency wallets or direct blockchain interaction.

Bitcoin Witnesses Capital Exodus

Bitcoin-focused ETFs recorded $396.6 million in withdrawals on Wednesday alone, pushing cumulative outflows to $4.37 billion across the preceding 13 trading days. Conversely, HYPE ETF products attracted $2.99 million in fresh capital on the same day, marking the fifteenth consecutive day of positive inflows.

In a Tuesday announcement, Bitwise Chief Investment Officer Matt Hougan observed: “Investors still believe in crypto, but now that it’s a contrarian bet, they favor fundamentals over vibes.” Hougan oversees the largest HYPE exchange-traded product, which holds $107 million in assets.

Platform Expansion Drives Token Appetite

Hyperliquid’s trading ecosystem continues its rapid expansion trajectory. Throughout May, the platform claimed a record 6.63% portion of worldwide perpetual futures trading activity. The HIP-3 protocol component, which facilitates trading of tokenized real-world assets including equities and commodities, handled more than $62 billion in monthly volume—the third straight month exceeding that threshold.

Cryptocurrency investor Justin Wu shared observations on X this week, highlighting how concerns about HYPE being “overvalued” have emerged at each successive price milestone during its ascent. He identified trading fee generation, staking expansion, and persistent demand as core drivers sustaining investor optimism around the token.

Wall Street Validation and Valuation Forecasts

Investment analysis firm CoinShares released a comprehensive 30-page valuation study on Tuesday, characterizing HYPE as among the rare cryptocurrency assets where “protocol activity translates almost directly into token demand” via its buyback framework. The research established a baseline target of $147 per token by 2031.

During the HYPG launch event, Grayscale’s Head of Research Zach Pandl described Hyperliquid as the “breakout success story of this cycle in crypto.” Peter Pan, research partner at venture capital firm 1kx, drew parallels between current HYPE sentiment and historical conviction levels around ETH in 2017, BNB in 2021, and SOL in 2023.

Traditional finance professionals are increasingly leveraging Hyperliquid during non-market hours and weekends to access perpetual futures contracts linked to Bitcoin, the S&P 500 index, crude oil, and pre-public companies. The platform operates continuously, contrasting with conventional market schedules.

HYPE’s market capitalization now exceeds $16 billion, while Solana maintains a valuation near $42 billion.

Ethereum traded near $1,777.96 on June 4 after falling 5.07% in 24 hours, according to crypto.news price data. 

The token also lost 10.21% over seven days as the wider crypto market stayed under pressure.

The latest move pushed ETH below the $1,825 area watched by analyst Ali Martinez. It also placed the asset near its weakest zone since April 2025, when ETH fell toward $1,400 before staging a recovery.

Ethereum price loses the $1,825 channel floor

Ali Martinez said Ethereum had reached his $1,825 target after pulling back to the bottom of its channel. He called the area a critical floor that could decide the next major move.

“If $1,825 holds, expect a solid bounce back up toward $2,070 or even $2,360,” Ali Charts wrote. He also said a close below $1,825 would weaken support and likely send ETH toward $1,500.

The live crypto.news feed showed ETH below that level, with a 24-hour range between $1,734.05 and $1,886.55. That range shows buyers tried to defend the lower area, but sellers kept pressure on the daily chart.

Ethereum’s market cap stood near $215.14 billion, while 24-hour trading volume reached $25.76 billion. The token remains down 64.05% from its Aug. 24, 2025 all-time high of $4,946.05.

Technical indicators still favor sellers

The Supertrend remains bearish, with the active red line near $2,022.09. Since ETH trades below that level, the indicator shows that sellers still control the current trend.

For the chart to improve, ETH would need to reclaim the $2,000 to $2,022 area and hold it on the daily chart. Without that move, any short bounce may remain part of a weak trend.

The RSI sits at 18.61, which places Ethereum deep in oversold territory. That reading shows strong downside momentum, but an oversold level does not confirm a rebound by itself.

The RSI moving average stands near 31.13, above the current RSI. That gap shows that momentum weakened quickly and that buyers have not yet regained control.

The MACD also remains bearish. The MACD line sits near -2,917.77, below the signal line near -1,584.86, while the histogram is negative near -1,332.92.

A stronger recovery signal would need the MACD line to flatten and move closer to the signal line. Until then, momentum remains weak even with ETH deeply oversold.

On-chain data gives a mixed signal

Leon Waidmann said Ethereum’s price action looks weak, but on-chain data gives a different message. He pointed to ETH on exchanges falling near 15.1 million, a multi-year low.

He also said Ethereum’s staking rate reached a fresh all-time high at 32.42%. More ETH in staking can reduce liquid supply because holders lock tokens to secure the network and earn rewards.

Ali Martinez also reported that Ethereum processed $9.92 billion in transaction volume on June 2. He said that marked the largest one-day network activity spike in two months.

This creates a split picture for traders. Price action shows weakness, while exchange balances, staking, and transaction data show users continue to hold, stake, and move ETH on-chain.

As previously reported by crypto.news, Ethereum staking has become a larger part of institutional treasury activity. More than 36 million ETH had been staked earlier this year, with public firms also building ETH yield strategies.

That does not remove short-term selling pressure. It does show that Ethereum’s network activity and holder behavior remain different from the current chart trend.

Treasury losses and price levels stay in focus

The latest selloff also comes as some Ethereum treasury strategies face losses. Lookonchain said Nasdaq-listed FG Nexus bought 50,770 ETH for about $196 million between August and September 2025.

Artificial intelligence is moving deeper into the cyberattack playbook, according to a new audit of policy-violating accounts by Anthropic. The AI company said that, over the 12-month window from March 2025 to March 2026, more than two-thirds of the 832 accounts flagged for policy violations were used to help orchestrate cyberattacks by leveraging AI to draft malware, plan intrusions, and identify vulnerabilities.

The findings highlight a growing concern among security researchers and crypto defenders: as AI tools become more capable, their use in wrongdoing could scale beyond the planning stage and into active exploitation. Anthropic disclosed that 560 of the analyzed accounts played a role in preparing or conducting cyberattacks, underscoring how AI is increasingly part of the attack lifecycle rather than just a preliminary aid.

Crucially, Anthropic said AI’s role is expanding within the attack chain. While the majority of AI-assisted activity was about preparation, roughly 6.5% of the banned accounts were used to support “lateral movement”—the phase attackers use after breaking in to move through a target network or system. The firm argues this marks a shift from AI merely enabling basic breach planning to enabling sophisticated, post-compromise actions that could be executed with less skilled operators.

Anthropic’s researchers warn that such post-compromise techniques, once the realm of highly skilled operators, are now being executed by AI agents on behalf of a broader set of actors. In describing the trend, the company notes that AI can perform complex, technical tasks that historically required substantial expertise, effectively lowering the barrier to multiple-stage cyberattacks.

The study also reveals a shifting risk profile. In the first six months of the observation period, about one-third (33%) of the accounts were classified as “medium risk or higher.” In the subsequent six months, that share jumped to 56%. The widening risk band suggests that as attackers deploy AI more broadly, the potential consequences—ranging from data exfiltration to financial loss—could intensify across targets, including crypto platforms and DeFi projects.

Anthropic’s findings land against a backdrop of broader volatility in crypto-security incidents. In April, the amount of crypto stolen in hacks rose to $629.7 million, a peak not seen since February 2025. Analysts have linked the spike, in part, to AI-enabled tools that accelerate the discovery of vulnerabilities and the rapid deployment of phishing, malware, and credential-stealing techniques. Cointelegraph highlighted this April surge, noting the potential role of AI in amplifying attacker capabilities.

Security researchers have long warned that AI can magnify both defensive and offensive capabilities. Manuel Aráoz, the founder of the security platform OpenZeppelin, has previously argued that DeFi and broader crypto ecosystems face elevated risk from AI-enabled tooling that can identify weaknesses in smart contracts. In remarks tied to the same discourse, Aráoz has suggested that the intrinsic opacity and speed of AI-driven analysis could outpace traditional security auditing, creating gaps defenders must address.

Anthropic added that the threat landscape is not static. While many AI-driven attacks still focus on initial access and data theft, the company observed instances where AI operated autonomously in at least one notable November case involving a Chinese state-sponsored group. In that scenario, an AI agent conducted an exploit, stole credentials, and made decisions with human input only at key moments. The report describes such autonomous or semi-autonomous AI behavior as emblematic of the trends policymakers and industry players should monitor as AI agents mature.

Looking ahead, Anthropic is preparing to roll out Mythos, its forthcoming large language model designed with cybersecurity capabilities at the forefront. The company has warned that Mythos could further sharpen attackers’ ability to identify and exploit software vulnerabilities, while also raising questions about how to balance powerful AI tools with guardrails that prevent misuse. Mythos joins a broader ecosystem of AI agents whose capabilities have drawn scrutiny from researchers and industry observers who worry about both the security of digital ecosystems and the integrity of AI systems themselves.

For investors and builders in crypto, the implications are twofold. First, security architectures must assume that AI-assisted adversaries can perform more tasks with less human expertise. This reinforces the need for proactive security testing, rigorous smart-contract auditing, and rapid incident response pipelines that can adapt to AI-enabled attack vectors. Second, the evolving risk is a reminder that security-by-design remains the most reliable path forward; as AI tools lower the technical barriers for attackers, platforms must harden defenses and implement multi-layer protections that can withstand autonomous or semi-autonomous AI-driven intrusions.

Analysts and developers should watch how Mythos and similar AI agents affect both attacker capabilities and defensive strategies. The balance between enabling beneficial AI-driven security tools and preventing their misuse will shape policy conversations, product design, and investment theses across the crypto security landscape in the months ahead. As AI models grow more capable, the line between threat and defense may continue to blur, making robust security governance essential for the crypto ecosystem.

Key takeaways

• Anthropic examined 832 accounts for policy violations between March 2025 and March 2026; 560 of those were used to aid cyberattacks with AI.
• AI-assisted activity predominantly supported attack planning, but 6.5% of cases involved AI helping attackers move laterally within compromised systems.
• Threat assessment shifted upward over time: 33% of accounts were medium risk or higher in the first half, rising to 56% in the second half.
• April crypto-hack losses reached $629.7 million, the highest since February 2025, with analysts pointing to AI-enabled attack tools as a contributing factor.
• Anthropic’s forthcoming Mythos AI model is expected to enhance cybersecurity capabilities, prompting ongoing debates about guardrails and defensive use in crypto ecosystems.

AI-enabled threats expand beyond planning to execution in crypto security

The core message from Anthropic’s review is a sobering reminder: AI is increasingly embedded in the full spectrum of cyber threats. While the majority of AI-driven activity in the period studied was oriented toward planning and reconnaissance, the presence of AI in lateral movement underscores how attackers can leverage automation to navigate networks more effectively after initial access. For crypto platforms, this translates into heightened urgency around monitoring for anomalous behaviors, implementing granular access controls, and hardening supply chains against AI-augmented exploitation.

From zero-day opportunities to autonomous AI action

The report aligns with broader industry observations about AI’s dual-use potential. Earlier reporting from security researchers highlighted cases where AI aided the discovery of zero-day vulnerabilities, including an incident where AI contributed to bypassing two-factor authentication for a widely used open-source tool. Anthropic’s own findings add depth to this narrative by showing AI moving into autonomous or semi-autonomous decision-making within breaches, albeit in limited but meaningful instances. Investors and operators should treat these developments as a warning that defensive AI tools must keep pace with offensive innovations.

What readers should watch next

Anthropic’s upcoming Mythos release will be a focal point for both defenders and adversaries in the crypto space. As AI agents become more capable, the industry will need clearer guardrails, more robust auditing, and better incident response frameworks to prevent AI-enabled attacks from eroding trust in decentralized platforms. In the near term, expect further research and disclosure from security-minded AI firms as the ecosystem calibrates to a world where AI-assisted threats are more prevalent—and more sophisticated.

Source attribution: Anthropic’s report on AI-enabled cyber threats, with data spanning March 2025 to March 2026. For broader context on the April crypto-hack losses linked to AI-enabled activity, see Cointelegraph’s coverage: “Crypto hacks cause $630m losses in April—the highest since February 2025.”

Anthropic notes that the trend toward AI-assisted exploitation could intensify as AI agents gain more autonomy, underscoring the need for stronger, proactive defenses across the crypto security landscape.

BP has seen an impressive spike in its value within the last 24 hours after Backpack launched a new securities trading platform that supports both tokenized and traditional stock trading. Data posted by CoinGecko indicated the coin gained 89.2% over the last 24 hours.

Key Takeaways

• BP rose by 89.2% in just one day after the launch of Backpack’s securities trading platform
• CoinGecko says the cause for this price movement was the merging of stock trading in both tokenized and traditional forms
• The price managed to reach around $0.28 from $0.15 earlier in the day

CoinGecko Post Draws Attention to BP Rally

CoinGecko said that BP increased by 89.2% following the launch of a securities exchange by Backpack which was meant to cater to both traditional and tokenized stock trading. This post received significant attention from cryptocurrency traders given the token’s strong intraday performance.

From the chart on CoinGecko, BP traded near $0.15 before starting an upward trend and moved to about $0.28, representing one of the biggest gains for the token in recent times.

There were several instances when the token consolidated before the final breakout. Throughout the trading session, buyers appeared to push prices higher.

Backpack Expands Into Securities Trading

The recently introduced platform by Backpack aims to integrate traditional financial assets with blockchain-based tokenized stocks. The product places the company among firms attempting to link traditional markets with digital-asset infrastructure.

Tokenized stocks have drawn growing interest in the digital asset industry as firms seek blockchain-powered access to equity markets. With the launch of this product, Backpack has added another venue for interaction between traditional and tokenized assets.

The launch comes amid increasing interest in tokenized real-world assets. Some market participants view tokenized securities as an area that may attract both crypto and non-crypto investors.

Market Reaction Drives Trading Activity

The movement in BP’s price indicates a high level of market enthusiasm following the announcement. The token rallied through multiple resistance levels to reach new short-term highs during trading.

Market participants watched for signs that the surge would create a new support area or trigger profit-taking after the sharp rally. While BP’s near-90% gain drew attention, it remains important to monitor how the Backpack securities exchange affects ongoing participation.