On Wednesday, June 10, the US inflation reading is either a floor or a trapdoor for Bitcoin and gold investors.

The US Consumer Price Index (CPI), the monthly measure of inflation across the economy, is a key indicator for several markets to watch on Wednesday.

Another Fed Signal

There is now a 70% chance of a Federal Reserve rate hike by December, up significantly over the past week, after the May jobs report added 172,000 positions, beating the forecast of 85,000.

Bitcoin trades at $62,747, down from $82,000 at its May peak. Gold sits near $4,330, its lowest since late March. Both assets have moved lower as rate-cut expectations flipped to rate-hike expectations.

What a Hot CPI Print Means for Bitcoin and Gold

The Federal Reserve targets 2% inflation. The current CPI is 3.3%, according to the latest Bureau of Labor Statistics (BLS) data, above the Fed’s target.

Kevin Warsh, the Fed Chair, sworn in on May 22, has committed to tighter inflation discipline. Cleveland Fed President Beth Hammack reinforced that stance, warning the central bank may need to act soon to bring inflation back to target.

A CPI reading above analyst expectations would push rate hike odds above 80%, up from 70% currently. Both Bitcoin and gold suffer when rates rise: higher rates make yield-generating assets, such as Treasury bonds, more attractive compared to assets that pay no yield.

What if the Numbers Come in Lower?

A softer CPI reading reduces the urgency of a rate hike and removes the primary pressure pushing both assets lower. For gold, the case Wall Street’s biggest banks have built around $5,400-$6,300 year-end targets, depending on inflation cooling toward the Fed’s target. A lower print reveals the thesis.

For Bitcoin, the May sell-off traced to the collapse in rate-cut expectations, specifically the assumption that easy monetary policy would return. A softer inflation number partially restores that assumption.

The Bureau of Labor Statistics publishes CPI data at 8:30 AM Eastern on Wednesday. Bitcoin at $62,747 and gold at an 11-week low are both priced for uncertainty. One number resolves it, in one direction or the other.

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More than 200 crypto companies and organizations have urged the US Senate to pass the CLARITY Act, amid concerns that continued stalling could see it miss an important legislative window.

In a letter on Monday shared by crypto lobby group Stand With Crypto, the group called on Senate Majority Leader John Thune and Minority Leader Chuck Schumer “to bring the Clarity Act to the Senate floor without delay.”

It said the Senate Banking Committee’s vote last month to pass the bill took “months of serious, bipartisan work” and the Senate should “build on that momentum and give members the opportunity to advance durable market structure legislation.”

The bill would outline how the Securities and Exchange Commission and the Commodity Futures Trading Commission would regulate crypto, but it has stalled multiple times in the Senate this year as lawmakers and lobbyists have disagreed on its provisions.

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Source: Stand With Crypto

Banking groups have pushed for the bill to include a ban on platforms offering stablecoin yields, while the crypto industry has lobbied to include protections for developers of decentralized crypto platforms, both sparking months of negotiations between the groups. 

The letter, signed by the lobby groups Stand With Crypto, The Digital Chamber, the Blockchain Association, and the Crypto Council for Innovation, said the bill would keep crypto jobs, investment and market activity in the US and make the country a “global leader in digital asset innovation.”

“Digital asset markets are global, growing, and central to the future of financial infrastructure,” the letter said. “The question before Congress is whether that future will be built in the United States — under U.S. law, U.S. oversight, and American values — or continue moving to offshore jurisdictions with less transparency, weaker consumer protections, and limited accountability.”

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Related: Crypto’s CLARITY Act faces partisan fight over ethics on Senate floor

The Senate has yet to schedule floor time for the bill ahead of the midterm elections in November, which has led analysts to drop their odds of the bill passing this year.

Galaxy Digital said on Friday that it lowered its odds of the bill passing in 2026 to 60% from 75%, saying it must pass the Senate before the August recess in late July, as “after that, the window effectively closes.”

The Senate Agriculture and Banking Committees passed their versions of the bill concerning commodities and securities laws, and each of those needs to be married up before being put to the Senate for debate.

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Lawmakers have also flagged the bill needs amendments around ethics and policing illicit finance if it is to receive support for the at least 60 votes required for the legislation to pass without prolonged debate.

Senator Cynthia Lummis, who has worked to advance the bill, told CNBC on Wednesday that lawmakers are addressing the issues of ethics and illicit finance that could see it lose support on the floor.

Galaxy said it has not seen information showing that the bill, or negotiations around it, have advanced, or that the provisions at issue have been resolved.

Magazine: Will the CLARITY Act be good — or bad — for DeFi?

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Bitrue Research Institute, the analysis division of one of the world’s leading cryptocurrency exchanges, has today published a new report analyzing the ongoing market shift from yield farming to real yield strategies.

In the new 18 page report, titled Why Institutions Are Ditching Yield Farming for Real Yield, the analysts note a substantial movement away from the inflationary token models that defined the DeFi era of 2020-2022, and investigate how institutional level capital has instead moved towards activities backed by real world economic value.

Through RWA-backed yields, borrower interest spreads, and other forms of verifiable output, the real yield market has developed multiple forms of revenue generation which allow for sustainable returns and healthy growth even amidst turbulent economic climates. The report synthesizes the key metrics and projects outwards to arrive at realistic, data-driven conclusions that consumers can use to reorient their portfolios today to set themselves up for future success.

“The era of unsustainable inflationary yield farming is giving way to real yield strategies backed by verifiable cash flows and real-world economic activity.” said Andri Fauzan Adziima, Research Lead at Bitrue. “As institutions increasingly allocate capital toward these sustainable models, they are laying a stronger foundation for the next phase of crypto market growth.”

The June 2026 report, Why Institutions Are Ditching Yield Farming for Real Yield, is available for free on the Bitrue website now. The Bitrue Research Institute will continue releasing monthly reports to educate and guide consumers in the fast paced and ever-changing landscape of web3 financial markets. Reports from previous months continue to be available at Bitrue.

About Bitrue

Launched in July 2018, Bitrue is a global crypto exchange dedicated to providing diversified digital financial services through blockchain technology. The platform supports over 700 cryptocurrencies and offers a wide range of products, including spot trading, futures, OTC, staking, copy trading and Alpha trading. With its extensive asset coverage, Bitrue ranks among the top exchanges in XRP markets by trading volume. It also provides a variety of staking and investment products with annualized rates of up to 30%, balancing liquidity and credited rewards. Centered on security and user protection, Bitrue actively partners with projects such as XRP and ADA, driving the growth of the digital economy through continuous product innovation and global ecosystem collaboration.

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Key Takeaways

• OpenAI has submitted confidential documents to the SEC for an initial public offering, following similar moves by competitors Anthropic and SpaceX
• The AI giant seeks a market valuation reaching up to $1 trillion, with potential market entry as soon as September
• Despite achieving $2 billion in monthly revenue, the company projects profitability won’t arrive until 2030
• Elon Musk’s legal challenge was defeated in court this May, eliminating a significant obstacle to going public
• The ChatGPT platform now serves over 900 million weekly active users alongside more than 50 million paid subscribers

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The artificial intelligence leader OpenAI has submitted confidential documentation to the United States Securities and Exchange Commission for an initial public offering. The announcement came via X on Monday, though the company emphasized that no final decision on timing has been made.

“We expect it to leak so we’re just announcing it,” OpenAI stated. The organization noted that going public “may be a while” since certain operations remain “easier as a private company.”

Major Tech Players Rush Toward Wall Street

OpenAI enters a crowded field of technology heavyweights preparing for public debuts. Competitor Anthropic submitted its own confidential IPO filing to the SEC on June 1, shortly after securing $65 billion in financing that established a $965 billion valuation.

Meanwhile, SpaceX—the parent company of AI chatbot developer xAI—is also advancing its public offering plans this week. If successful, the offering would represent the largest in market history, targeting a $1.75 trillion valuation.

According to Reuters sources, OpenAI aims for a valuation ceiling of $1 trillion. Should all three enterprises complete their public listings near these levels, it would represent one of the most significant evaluations of technology investor confidence in ten years.

Earlier this year, OpenAI secured $110 billion in funding at an $840 billion valuation. Notable investors include SoftBank, Amazon, and Nvidia.

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Strong Revenue Growth Despite Future Losses

OpenAI disclosed $2 billion in monthly revenue as of March, expanding approximately four times faster than pioneering companies from the internet and mobile eras. This represents a substantial increase from roughly $1 billion in quarterly revenue recorded at 2024’s conclusion.

However, despite this impressive expansion, the company has informed investors that achieving profitability remains a 2030 target.

ChatGPT’s user base has swelled to more than 900 million weekly active users, complemented by over 50 million paying subscribers.

Court Victory Removes Legal Barrier

OpenAI originated in 2015 as a nonprofit organization. The company subsequently established a for-profit division to support the substantial costs associated with AI development.

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In December 2024, management announced intentions to reorganize as a public benefit corporation. This strategic pivot prompted legal action from early supporter Elon Musk, who alleged that leadership had abandoned the organization’s founding principles.

A United States jury delivered a verdict against Musk this May. Market analysts indicated the decision eliminated a major legal impediment to the planned public offering.

Employment Impact and Market Activity

The artificial intelligence revolution has created significant workforce disruptions. Approximately 117,000 technology sector employees have lost their positions this year alone, with corporations attributing reductions to AI-enhanced productivity capabilities.

Cryptocurrency firms have eliminated over 5,000 positions in 2026. Block announced 4,000 staff reductions in February, similarly citing artificial intelligence efficiency improvements.

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Global initial public offerings have generated $87.5 billion through late May, marking the strongest performance since 2021.

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The yuan traded at 6.7837 per dollar on Monday, June 8, and is 3.1% stronger against the dollar year to date. But, China’s central bank is doing something very unusual: trying to stop its own currency from rising.

The recent rise has made the yuan one of the best-performing emerging-market currencies since the Iran war began. This is despite the US jobs report, which doubled forecasts, driving the US dollar to a two-month high against the euro, the Australian dollar, and the New Zealand dollar. The yuan is strengthening even as the dollar strengthens against almost everything else.

Why China’s PBoC is Slowing the Yuan’s Rise

The People’s Bank of China set its daily midpoint fixing on Monday, June 8, at 6.8198 per dollar, a full 248 pips (small units of currency movement) softer than the Reuters consensus estimate.

The PBoC sets a reference rate each day around which the yuan can trade 2 per cent in either direction.

Setting it softer than expected is a deliberate signal: do not let the yuan rise too fast. Several Chinese banks have also raised dollar deposit rates in recent weeks, encouraging savers to hold dollars rather than convert them into yuan, easing pressure on the yuan’s appreciation.

A too-strong yuan directly hurts Chinese exporters. Firms that earn dollars abroad and convert them into yuan at home receive fewer yuan per dollar when the currency rises, squeezing margins across China’s manufacturing base.

What is Actually Driving Chinese Yuan Strength

Analysts at China International Capital Corporation (CICC) wrote in a Monday note that the yuan’s moves are “broadly tracking the dollar index but with notably lower volatility.”

Huatai Futures analysts went further, arguing the yuan’s resilience “suggests that the drivers of the exchange rate have shifted beyond the interest rate gap, the difference between US and Chinese borrowing costs, increasingly reflecting stronger FX settlement flows and improved sentiment toward yuan-denominated assets.”

The yuan is outperforming despite the dollar near a two-month high and the Federal Reserve pricing in a rate hike. Real capital flowing into Chinese assets explains the divergence, but oil complicates the picture.

Prices rose more than $2 per barrel on Monday after Israel launched renewed strikes on Lebanon, eroding ceasefire hopes and removing the prospect of a Strait of Hormuz reopening.

According to Reuters, China is releasing its trade and inflation data this week alongside US CPI on Wednesday, making the next 72 hours the most data-intensive period of the month for global currency traders.

The PBoC is managing a problem most central banks do not face: its currency is too resilient. Whether that holds through a week of simultaneous US and Chinese data releases will set the dollar’s direction for the rest of June.

The post China Central Bank Slows Yuan’s Rise as it Grows Against Dollar appeared first on BeInCrypto.

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The Sahara AI token dropped more than 56% over the past 24 hours, ranking among the worst-performing crypto assets on Tuesday. 

The project said it found no security flaws in its token contracts or products. The team opened an internal investigation to identify the cause of the price decline.

SAHARA Slides to Record Low After Steep Drop

The altcoin hit an all-time low of $0.0129 on Binance earlier today. It traded near $0.0156 at press time after paring some losses.

Sahara AI launched the SAHARA token in June 2025. The altcoin also secured a Binance listing. It spiked after its debut before shedding most of those early gains.

Moreover, in 2024, the company raised $43 million in a Series A round. Binance Labs, Pantera Capital, and Polychain Capital led the financing.

The latest drop comes as AI-coins continue to gain traction. Many tokens in the group have recorded sharp swings this year.

Sahara AI Launches Internal Investigation

Sahara AI acknowledged the unusual price action on X. The team said it is monitoring the situation in real time.

We are aware of the unusual $SAHARA market volatility that just occurred and are actively monitoring the situation in real time.
There are no security issues on our token contracts or products. Our team has initiated an internal investigation to better understand the drivers…

— Sahara AI 🔆 (@SaharaAI) June 9, 2026

In a later update, the project addressed transfers that some traders had blamed for the crash. It said team and investor wallets remained untouched on-chain, with no tokens sold or moved.

Sahara AI said a 600 million SAHARA transfer was a pre-scheduled fill of its Chainlink (LINK) cross-chain bridge contract. The move added liquidity and was unrelated to the price drop. Another 150 million SAHARA is pending.

The drop followed a separate plunge in Humanity Protocol’s H token. That token fell more than 80% after an exploit. However, Sahara AI said its own decline was unrelated to any security breach.

The cause of the selloff remains unclear as the review continues. Holders now wait for the findings of Sahara AI’s investigation.

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Key takeaways

• Ethereum continues its downtrend after breaking key support levels and testing a low of $1,505 last week.
• The broader crypto market remains under pressure following last week’s massive dump.

The cryptocurrency market starts the week on a weak footing, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) continuing to trade under heavy selling pressure following steep declines last week. 

Bitcoin lost more than 14%, Ethereum dropped over 15%, and XRP shed more than 13%, leaving technical indicators firmly tilted toward further downside risks. 

BitMine boosts Ethereum holdings with largest ETH purchase of 2026

Ethereum treasury company BitMine Immersion Technologies significantly expanded its holdings last week, purchasing 126,971 ETH as the second-largest cryptocurrency declined toward the $1,500 price region.

The acquisition marks BitMine’s largest weekly Ethereum purchase of 2026, underscoring the firm’s continued commitment to accumulating the digital asset despite recent market volatility.

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Following the latest purchase, BitMine’s total Ethereum holdings have climbed to 5.54 million ETH. The company stated that it now controls approximately 4.59% of Ethereum’s circulating supply, moving closer to its long-standing objective of owning 5% of all ETH in circulation.

According to the firm, it remains on track to achieve that milestone before the end of the year, further strengthening its position as one of the largest corporate holders of Ethereum.

Ethereum slides below critical support areas

Ethereum is also extending its bearish trend, trading around $1,684 after breaking several key support levels below. The second-largest cryptocurrency remains firmly below its 50-day, 100-day, and 200-day EMAs, currently positioned near $2,058, $2,189, and $2,441, respectively.

The concentration of these moving averages above current price levels suggests that any recovery attempts could face strong selling pressure. Meanwhile, Ethereum’s daily RSI sits at 50, indicating a neutral market condition, while the MACD remains deeply negative, reinforcing the dominance of bearish momentum.

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For bulls to regain control, Ethereum would need to overcome several resistance levels:

• Immediate resistance at $1,747.
• Psychological resistance at $2,000.
• 50-day EMA near $2,058.
• 100-day EMA around $2,189.
• 200-day EMA near $2,441.

On the downside, the next significant support level is located around $1,385, a zone where buyers could attempt to slow or reverse further declines if selling pressure intensifies.

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Humanity Protocol’s native token – H token – dramatically collapsed by nearly 88% on June 9 after falling from around $0.78 to nearly $0.099.

The steep decline came after reports emerged of a major security incident involving wallets connected to the protocol.

Multi-Million Dollar Hack

On-chain investigator Specter first raised the alarm and revealed that more than 17 wallets holding H tokens were drained. Separate reports indicated that attackers stole private keys tied to the project and drained more than $30 million from those wallets.

Humanity Protocol later confirmed that a security incident had occurred. In a post on X, the team behind the blockchain identity network revealed that private keys belonging to a member of the Humanity Foundation had been compromised. It urged users not to interact with the bridge or any liquidity pools until further notice.

“We are actively working with leading security experts and our exchange partners to assess the scope of the incident and secure all affected systems. We’re deeply sorry that this has happened. Protecting this community is our responsibility, and we don’t take that lightly.”

Not everyone accepted Humanity Protocol’s explanation of the incident. On-chain investigator ZachXBT pushed back against the project’s account on X and accused the team of aggressively promoting the token for weeks while offering little underlying value. He also called on the project to reveal any active market maker agreements involving a Hong Kong entity.

In a separate post, ZachXBT went on to claim that the security breach appeared “possibly staged” and added that “it’s a convenient way for the active MM to have exited.”

Humanity Protocol is a blockchain-based identity project that lets people verify they are real humans. It uses biometric data and privacy technology so users can prove their identity without sharing personal information.

It was launched on mainnet last year and quickly gained traction as a rival to Sam Altman’s Worldcoin (now rebranded to World Network).

Attacker Cashes Out Millions

According to blockchain analytics platform Lookonchain, the attacker continued minting H tokens after the exploit, first creating 100 million H tokens on BNB Smart Chain before minting another 100 million. The hacker was found to have already sold a portion of the tokens, obtaining 18,510 ETH worth approximately $30.83 million and 1,548 BNB valued at around $924,000.

Despite those sales, the attacker still holds about 111.36 million H tokens, which is worth almost $14 million at current prices. However, Lookonchain asserted that on-chain liquidity for the token is now nearly exhausted.

The post Worldcoin Rival Humanity Protocol’s Token Crashes 88% as $30M Wallet Drain Sparks Security Panic appeared first on CryptoPotato.

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Polymarket bettors now give the Digital Asset Market Clarity Act (CLARITY Act) a 47% chance of becoming law in 2026, as White House officials prepare to meet with law enforcement groups.

The Wednesday meeting marks the latest attempt to resolve objections, with ethics and illicit-finance provisions remaining major sticking points.

Where the CLARITY Act Stands Now

The Senate Banking Committee advanced the CLARITY Act in a 15-9 vote on May 14. Two Democrats crossed over to support it. The bill still needs 60 votes to clear the full Senate.

Nonetheless, forecasters have grown more cautious since then. Galaxy Research head Alex Thorn cut his 2026 passage estimate to 60% from 75% on June 5. He cited a tightening Senate calendar.

Prediction market Polymarket tells a similar story. Traders price the bill’s 2026 passage at 47%, down from 74% a month ago. The market has cooled as the legislative window narrows before the August recess.

Inside the Wednesday White House Meeting

Meanwhile, on Wednesday, administration officials are set to host law enforcement groups at the White House. Journalist Eleanor Terrett reported the meeting, citing three sources familiar with it.

At issue are developer protections drawn from the Blockchain Regulatory Certainty Act (BRCA). Critics fear the provisions could weaken efforts to combat money laundering and other illicit finance.

“The issue, along with ethics, remains one of the major sticking points that must be resolved before lawmakers can bring the bill to the Senate floor,” Terrett wrote. “Several Democrats have signaled they will not support the legislation unless law enforcement believes its concerns have been adequately addressed.”

Several Democrats have tied their support to those concerns. Senator Angela Alsobrooks has withheld her support for a floor vote until negotiators settle the ethics provisions and remaining disputes.

Meanwhile, crypto firms are pressing for a vote. More than 200 companies and groups urged Senate leaders to schedule the bill in a June 7 letter. Signatories include the Blockchain Association, Stand With Crypto, the Crypto Council for Innovation, and the Digital Chamber.

Follow us on X to get the latest news as it happens

The Wednesday meeting could decide whether negotiators break the deadlock before the recess. Until law enforcement signals it is satisfied, the Democratic crossover votes the bill needs will remain in doubt.

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