Siren has plunged about 75% to $0.126 after a large holder reportedly sold 17 million tokens across multiple on-chain addresses, triggering one of the steepest declines seen in the market this week.

According to on-chain analyst EmberCN, a whale sold roughly 17 million SIREN tokens, including 6.75 million siren2-native tokens, across multiple addresses over a two-hour period on June 13. The analyst said the selling pressure pushed the token from around $0.47 to $0.23 before losses deepened further. Market data later showed SIREN extending the decline to a low of $0.126 at the time of writing.

EmberCN also claimed that whale-controlled wallets hold at least 94% of SIREN’s total supply, equivalent to about 680 million tokens. The analyst argued that concentrated ownership has allowed a small group of holders to exert significant influence over the token’s price movements.

Whale activity coincides with sharp derivatives unwind

While spot markets absorbed the sell-off, derivatives traders rapidly reduced exposure as prices continued to fall.

Data from CoinGlass showed open interest dropping nearly 40% to $28 million during the decline. The contraction occurred alongside falling prices, a combination that typically points to long liquidations and traders closing existing positions rather than opening fresh bearish bets.

With leveraged positions unwound across the market, speculative activity cooled considerably. The reduction in open interest suggested many traders stepped away after SIREN failed to maintain its earlier rally, leaving the market searching for a new price level following the rapid sell-off.

In a June 13 X post, EmberCN described SIREN as a token heavily influenced by large holders and claimed similar trading cycles had occurred several times in recent months. The analyst alleged that major holders repeatedly accumulated tokens, benefited from rising prices, and later sold into strength before the cycle restarted. 

“Every time they finish feasting on the shorts, they turn around and feast on the longs: pump it up dozens of times, then smash it back down. Scoop up the chips and roll into the next round…From February to now, that’s 4 rounds of harvesting in 4 months.”

Similar token collapses have emerged across crypto markets

Recent market events show that sudden token crashes tied to concentrated ownership, liquidity concerns, or unexplained selling pressure have become increasingly common across the crypto sector.

As previously reported by crypto.news, Sahara AI’s SAHARA token fell about 55% on June 9 after heavy selling pushed the asset close to its record low. Responding to the decline, Sahara AI said there were no security issues affecting its token contracts or products and launched an internal review.

A subsequent statement from the project rejected speculation that insiders contributed to the sell-off. Sahara AI stated that no team or investor tokens had been sold or moved, while adding that it had not identified the source of the market pressure.

As previously reported by crypto.news, EDGE tumbled earlier in June after edgeX flagged what it described as unusual market activity. The token fell from about $1.20 to an intraday low near $0.36 before recovering part of the decline.

Although edgeX said preliminary findings pointed to attempts by an external party to manipulate the market, on-chain investigator ZachXBT challenged that explanation. He argued that a small group controlled much of EDGE’s circulating supply and called on the project to disclose details about counterparties and market-making arrangements linked to the token.

Tether froze more than $72 million in USDT on Tron after ZachXBT linked a large wallet to recent Monero buying and a sharp XMR price spike.

ZachXBT traces $120M USDT wallet

On-chain investigator ZachXBT said a Tron address received 120.2 million USDT on June 11 before moving funds across exchanges and cross-chain routes. The address was identified as TA6YHqB2xh5HhfmC7WoLQaWmqq7Vv4zCoQ.

The funds later moved in several directions. ZachXBT said more than $12 million went to KuCoin deposit addresses, while $8 million moved to instant exchanges.

Another $8 million was bridged from Tron to Bitcoin and Ethereum through Near Intents. The activity drew attention because it happened before and during a strong move in Monero.

“Yesterday (June 11) TA6YHqB2xh5HhfmC7WoLQaWmqq7Vv4zCoQ received 120.2M USDT on Tron and began transferring $12M+ to Kucoin deposit addresses and $8M to various instant exchanges,” said ZachXBT.

Monero orders linked to XMR spike

ZachXBT said the same entity created large Monero orders. He linked those orders to a sharp XMR move from $330 to $420.

“The entity created Monero orders which caused the XMR price to spike from $330 -> $420,” said ZachXBT.

Monero later traded near $357.20, according to crypto.news market data. XMR recorded a 24-hour trading range between $345.09 and $438.06, showing how wide the move became.

The token’s 24-hour trading volume stood near $291.3 million, while market capitalization was around $6.7 billion. XMR was still up over 3% on the day and almost 10% over seven days.

The move added fresh attention to Monero’s market depth. Large orders can move XMR quickly because the asset has less exchange access than many top tokens.

Tether freezes related Tron address

ZachXBT said Tether later blacklisted a related Tron address holding about 72 million USDT. Whale Alert data showed 72,030,295 USDT frozen on Tron on June 12.

“A few minutes ago Tether blacklisted an address directly related to Ta6YHq with 72M USDT: TBzrPEsStbZAUx2SBhD4oHz8UW3FX9Ak9W,” said ZachXBT.

The freeze shows how issuer-controlled stablecoins can be halted at the token contract level. This makes USDT different from assets like Bitcoin or Monero, where issuers do not control transfers.

As previously reported by crypto.news, Tether froze about $515 million in USDT across Ethereum and Tron over a 30-day period in May. Tron accounted for most of those frozen balances.

Monero rally follows earlier demand

The wallet activity came after Monero had already seen stronger market attention. As previously reported, XMR rose above $350 after double-digit daily gains on June 11.

That earlier move was tied to privacy-coin demand, Cake Wallet’s Passport Prime integration, and renewed attention around Monero security audits. The latest ZachXBT report added a separate liquidity-driven angle.

Monero remains one of the largest privacy coins by market value. Its design hides transaction sender, receiver, and amount details by default, which makes it attractive to privacy users and harder for investigators to track.

The latest price action now leaves traders watching whether XMR can hold above the $350 area. A return toward $400 would keep the breakout debate alive, while loss of support could show that the spike was driven mainly by short-term order flow.

TLDR:

• US export control order forced global shutdown of Fable 5 and Mythos 5 models immediately across all users
• Anthropic says restriction stems from alleged jailbreak concern but calls issue narrow and non-systemic in scope
• Other Claude models remain online as company complies with government national security directive requirements
• Firm disputes severity of claims, citing prior red-teaming tests and absence of verified harmful exploits

A US government export control directive has forced Anthropic to suspend global access to Fable 5 and Mythos 5. The order applies to all foreign nationals, including employees outside the United States. 

The decision triggered an immediate shutdown of both models across all customer environments. According to internal communication, the directive was issued citing national security concerns tied to potential jailbreak vulnerabilities.

Fable 5 and Mythos 5 Export Control Order Shakes Anthropic AI Access

AnthropicAI confirmed it received the directive at 5:21pm ET from US authorities. 

The order required immediate suspension of Fable 5 and Mythos 5 access worldwide. The restriction applies even to foreign national staff working within the company.

The company stated compliance was mandatory under export control rules. 

As a result, it disabled both models across its infrastructure. Other Claude models remain fully operational without restriction.

The announcement highlighted that the directive affects users across all regions. Customers outside the United States lost access at the same time as domestic users. The scope of the order reflects broad national security classification.

Anthropic noted the shutdown was abrupt and not pre-planned. 

Engineering teams executed global deactivation procedures shortly after receiving the notice. Service disruption affected enterprise users and developers relying on the models.

Fable 5 and Mythos 5 Security Concerns and Jailbreak Claims Explained

The directive reportedly stemmed from concerns about a potential jailbreak method targeting Fable 5. 

Authorities believed the technique could expose cybersecurity-related capabilities under certain conditions. The company reviewed the same demonstration internally.

Anthropic stated the identified issue involved narrow vulnerabilities already seen in other models. It added that similar weaknesses could be reproduced using publicly available AI systems. The company did not identify evidence of a universal jailbreak.

Internal assessments showed safeguards were tested extensively before release. 

The models underwent thousands of hours of red-teaming with external partners. These included government-linked AI safety institutes and third-party evaluators.

According to Anthropic, no verified harmful deployment resulted from the reported vulnerability. The company said it had not received documentation of a broad exploit affecting model safety systems. It described the issue as limited in scope and non-systemic.

Despite disagreement with the directive’s severity, Anthropic complied with legal requirements.

The firm emphasized ongoing discussions with regulators to restore access. It also reaffirmed that other models remain unaffected and continue operating normally.

Bitget has secured registration in Argentina as a Virtual Asset Service Provider, adding another regulated market to its Latin American footprint as crypto adoption in the country approaches 20% of the population.

According to a press release shared with crypto.news, Bitget has been added to Argentina’s Virtual Asset Service Provider registry maintained by the National Securities Commission, known locally as the CNV. 

The registration allows the exchange to operate within the country’s existing framework for crypto service providers while complying with oversight requirements tied to anti-money laundering and counter-terrorism financing rules.

As part of the registration, Bitget will be subject to reporting and compliance obligations before Argentina’s Financial Information Unit and other relevant authorities. The approval comes as policymakers across Latin America continue building formal rules for digital asset businesses operating in their jurisdictions.

Argentina has emerged as one of the region’s busiest crypto markets, with company data indicating that nearly 20% of the population uses digital assets and more than 15,000 businesses accept crypto payments. Growing participation has turned the country into a key destination for exchanges seeking expansion opportunities across Latin America.

“Regulatory frameworks for digital assets continue developing across Latin America, making compliance and registration increasingly important for platforms operating in the region,” said Gracy Chen, CEO of Bitget. 

“Argentina represents an important market within Latin America’s broader digital asset landscape, and Bitget remains focused on supporting sustainable growth by aligning with local regulatory requirements.”

Argentina adds to Bitget’s regional expansion

Coming shortly after regulatory progress in Mexico, the Argentina registration extends Bitget’s presence in markets where crypto adoption and regulatory development are advancing at the same time.

Recent months have also seen the company deepen its focus on products that connect digital assets with traditional finance. Earlier in June, Bitget enabled 15 tokenized stocks and exchange-traded funds, including Apple, Nvidia, Tesla, Microsoft and Amazon-linked assets, to be used as collateral for USDT-margined futures trading through its Unified Trading Account system.

At the time, Chen said users were looking for more ways to put tokenized assets to work across different trading activities as demand for blockchain-based financial products continued to grow.

A separate announcement from Bitget Wallet on June 9 expanded the company’s tokenized asset infrastructure further. The wallet introduced support for direct trading of tokenized real-world assets through its DEX Aggregator API, allowing partner platforms to route trades from cryptocurrencies into tokenized stocks without requiring separate trading systems.

According to Bitget Wallet, the upgrade introduced an RFQ-based routing model designed to secure liquidity before transactions reach the blockchain. Initial integrations included Ondo Finance and xStocks, two of the largest participants in the tokenized asset sector.

Bitget Wallet also reported that its ecosystem now offers access to more than 300 tokenized products spanning equities, commodities, precious metals and other financial instruments. Company figures further show that Bitget’s tokenized equity products have generated more than $30 billion in trading volume since 2025.

XRP traded near $1.15 on June 12 after a volume-backed rebound from the $1.10 area, but traders still watched whether the move could break the wider downtrend.

XRP price rebounds from $1.10

XRP traded at $1.15, up nearly 3% over 24 hours, according to crypto.news market data. The token recorded about $1.68 billion in daily trading volume, while market capitalization stood near $71.24 billion.

The 24-hour trading range stayed between $1.10 and $1.15. That shows buyers defended the lower end of the range and pushed price back toward short-term resistance.

The rebound followed a weak period for XRP. The token remained down 21.48% over 30 days and 48.73% over the past year, showing that the latest move has not erased the broader decline.

XRP still ranks sixth by market value. Its fully diluted valuation stood near $114.79 billion, with about 62.05 billion tokens in circulation from a maximum supply of 100 billion.

Volume-backed move tests resistance

XRP rose from about $1.1080 to $1.1442 during the earlier 24-hour session, gaining more than 3%. The strongest move came when buyers pushed through resistance near $1.1220.

Volume surged to about 120.2 million XRP during the June 11 17:00 UTC session. That was more than 160% above average and helped confirm the short-term breakout.

The move was notable because recent XRP rebounds had faded quickly. This time, buyers kept bidding into the close and pushed price above $1.14.

The next test sits around $1.20 to $1.25. Every major XRP recovery this year has struggled before that zone, so a clean break above it would be needed to improve the larger structure.

Sentiment stays weak despite rebound

Santiment said XRP’s weighted sentiment has fallen to its lowest level since October 2025. The metric tracks social volume and the ratio of positive to negative commentary.

“XRP’s sentiment at 8-month lows, but this level of FUD tends to spark bull rallies,” said Santiment.

That signal does not confirm a price rally. It shows that crowd interest has weakened while negative commentary has increased, which can sometimes appear near rebound zones.

Santiment also noted that XRP has seen strong rebounds in the past when traders became disinterested. That makes sentiment a useful secondary signal, but not a full trading signal on its own.

ChartNerd also pointed to XRP returning to the lower regression band of the Gaussian Channel on the two-week timeframe near $1.04. The analyst described that zone as a macro opportunity area based on prior cycles.

“One of our XRP signals just fired,” said ChartNerd.

XRP ETF flows and technical levels matter

According to SoSoValue data, XRP spot ETFs recorded zero outflows on June 11, while Bitcoin, Ethereum, and Solana ETFs saw redemptions. XRP ETF net assets were reported near $984.77 million, close to the $1 billion mark.

That matters because steady ETF demand can support price during weak market conditions. It does not guarantee a breakout, but it can reduce the pressure that comes from spot selling.

Technically, XRP is trapped between a short-term rebound and a longer-term downtrend. Price has reclaimed $1.14, but it still trades below the larger descending trendline that has guided the market since early 2026.

Immediate support sits near $1.10. A loss of that area could expose $1.04, where analysts are watching the lower regression band and recent support.

On the upside, XRP needs to clear $1.15 first, then build momentum toward $1.20. A daily close above $1.20 would shift focus to $1.25, where earlier recoveries have failed.

MXNB launch adds XRPL context

Ripple and Bitso expanded their partnership by bringing the MXN-backed stablecoin MXNB to the XRP Ledger. The stablecoin will also integrate with Ripple’s Payments on Decentralized Exchange infrastructure.

The setup is designed to support enterprise settlement between the United States and Mexico. Ripple’s RLUSD and Bitso’s MXNB are expected to provide on-chain dollar and peso liquidity for payment flows.

The launch adds another institutional use case for XRPL. Still, XRP price must confirm strength through the chart, because network growth does not always lead to immediate token demand.

As previously reported by crypto.news, the XRPL 3.2.0 upgrade is also expected on June 15. The upgrade will rename the core software from “rippled” to “xrpld” and may reduce server memory use by around 40%.

Several major crypto trading and wallet platforms have canceled their tokenized SpaceX IPO campaigns after SpaceX began trading publicly on the Nasdaq. Bybit, Binance, Bitget Wallet and MEXC all pointed to problems in securing underlying allocations, leaving subscribers without the expected access and triggering refunds in some cases.

SpaceX’s IPO, reported as more than four times oversubscribed, raised $75 billion and valued the company at more than $2 trillion on its first day. Shares opened at $150, rose from the $135 IPO price, and closed at $161.11 on Friday.

Key takeaways

• Bybit, Binance, Bitget Wallet and MEXC canceled their tokenized SpaceX IPO offerings once allocations could not be fulfilled.
• Multiple platforms blamed xStocks’ inability to deliver the underlying assets needed to distribute SpaceX tokenized IPO allocations.
• Binance’s campaign had reportedly attracted more than $557 million in USDC deposits before being halted.
• Bitget Wallet and MEXC stated they would refund affected users.

Tokenized IPO campaigns lose the allocation race

As SpaceX transitioned from private markets to public trading, crypto platforms offering tokenized access attempted to translate that demand into participation for their users. But once the IPO went live, these campaigns ran into a practical bottleneck: they could not obtain SpaceX allocations through xStocks, the entity involved in distributing the tokenized exposure.

According to Bybit’s announcement, the firm did not receive any SpaceX allocations due to xStocks’ failure to deliver the underlying assets. In that situation, Bybit said subscribed users would not receive SpaceX allocations despite the earlier subscription process.

Bybit says xStocks delivery issues stopped allocations

Bybit was among the earliest platforms to market tokenized IPO participation with its Bybit IPO Express, which included a SpaceX debut. In its cancellation message, Bybit directly tied the outcome to xStocks’ inability to deliver the underlying assets required for the allocation.

Bybit’s statement indicated that because no allocations were received, the campaign could not proceed as advertised. For users, that meant the tokenized IPO access did not materialize in the form of SpaceX allocations tied to the public listing.

Binance’s deposits were not enough to proceed

Binance also reported that it could not move forward with its tokenized SpaceX IPO campaign after citing circumstances outside its control. Earlier coverage described the initiative as attracting more than $557 million in USDC deposits, reflecting significant interest from Binance users.

Binance Wallet was also described as relying on xStocks for allocation delivery. With xStocks unable to provide the underlying assets, Binance said it was unable to proceed with the campaign, despite the apparent scale of deposits recorded before the IPO date.

Bitget Wallet and MEXC move to refund users

While some platforms framed their cancellation around delivery constraints, others emphasized remediation. Bitget Wallet and MEXC both stated that they would refund users who were affected after they were unable to secure an allocation of xStocks’ tokenized SPCX exposure.

In an X post, Bitget Wallet chief operating officer Alvin Kan said it was “disappointing that this didn’t work out in the end,” adding that the company was sending refunds. Kan also acknowledged that the episode had shaken trust within the industry, while arguing that the platform would continue and “come out of this stronger.”

MEXC similarly indicated that refunds were the next step, aligning with the broader pattern of tokenized IPO campaigns encountering execution risk when upstream allocation mechanics fail.

What this setback signals for tokenized IPO access

This episode highlights a recurring challenge for tokenized access products: they may package participation in high-demand public events for retail or crypto-native audiences, but they still depend on traditional allocation and settlement flows. When the party responsible for sourcing and distributing the underlying exposure cannot deliver, platforms can only cancel or unwind the offering.

That dependency matters now because the market conditions were unusually favorable for such products. SpaceX’s IPO drew massive interest, and reports said it was more than four times oversubscribed. Yet even with demand concentrated around a single, widely watched listing, crypto platforms were still unable to convert subscriptions into allocations.

For investors and traders, the practical takeaway is that tokenized IPO participation should be viewed as an execution-sensitive service—not only a market product. Users should watch for clarity around allocation guarantees, the identity of the upstream allocation provider, and how refunds are handled when delivery fails.

Going forward, the key question is whether platforms and allocation intermediaries can align incentives and operational readiness ahead of the next major high-profile IPO. Until then, users should expect that tokenized IPO offerings may carry additional counterparty and process risk—especially when demand is at the level seen during SpaceX’s public launch.

The government told Anthropic it had become aware of a method to bypass, or jailbreak, Fable 5. Anthropic reviewed the technique and said what it saw was narrow, not a universal jailbreak, and involved identifying a small number of previously known, minor vulnerabilities. It said other publicly available models, including OpenAI’s GPT-5.5, can find the same vulnerabilities without any bypass at all.

The company said the government has so far provided only verbal evidence of a potential narrow jailbreak, which it described as essentially asking the model to read a codebase and fix software flaws, a task defenders use every day.

It said applying this standard across the industry “would essentially halt all new model deployments for all frontier model providers.”

Anthropic built its entire brand around safety-first AI development, and it is now publicly disputing a national security directive on the grounds that the government’s evidence does not clear its own stated bar.

The company will share more details about the specific jailbreak within 24 hours.

The crypto market is now pricing the shutdown as a negative for the IPO case, and the Anthropic perp’s drop from its post-launch highs reflects that. The first question for the company’s public listing ambitions is whether the government’s order gets reversed, narrowed, or extended to other model classes once Anthropic publishes its technical rebuttal.

Many are assumed to belong to Bitcoin’s pseudonymous creator Satoshi Nakamoto and other owners who lost their keys, which means they can never be moved to safety. Another 5 million or so are exposed through address reuse, according to Project11, a research group tracking the issue, though most of those are thought to be active holdings in exchange wallets.

Swapping in quantum-resistant signatures is the easy part, but the fight is over the coins nobody moves. One camp argues for a hard deadline, after which the signature schemes Bitcoin uses today, ECDSA and Schnorr, stop being accepted and any unmigrated coins become unspendable. Leaving them live, this side says, hands a future attacker, potentially a sanctioned state like North Korea, a stash of bitcoin large enough to crash the price and taint the network’s legitimacy.

The other camp calls that confiscation, a violation of the absolute property rights Bitcoin was built on, and warns it sets a precedent for freezing coins under government pressure later.

Between them sit the several proposals CoinDesk has tracked over the past two months.

Hourglass would cap how many vulnerable coins can be spent per block to prevent a supply flood. BIP-361, from developer Jameson Lopp and others, would let migrated holders prove ownership after the cutoff with a quantum-resistant proof that exposes no key. PACTs, from Paradigm’s Dan Robinson, would let owners timestamp a private claim now and move funds later without revealing anything today.