Key Takeaways

• Taiwan Semiconductor’s CEO C.C. Wei informed investors that chip manufacturing capacity will remain insufficient to satisfy AI demand for the foreseeable future, despite expanding US operations.
• The chipmaker maintained its annual revenue growth projection exceeding 30%.
• TSMC intends to construct at least four more US fabrication facilities beyond the six currently scheduled, demanding approximately $100 billion in additional investment.
• The CEO acknowledged acquiring ASML’s High-NA EUV lithography systems but stated mass production deployment awaits economic viability.
• Taiwan Semiconductor shares declined 1.7% in Taipei trading following Broadcom’s lackluster guidance.

Taiwan Semiconductor Manufacturing (TSM) stock experienced a 1.7% decline during Thursday’s Taipei session after Chief Executive C.C. Wei informed investors the semiconductor giant cannot satisfy AI-fueled chip demand for years ahead — despite substantial new manufacturing facilities launching in the United States.

Taiwan Semiconductor Manufacturing Company Limited, TSM

“Customer demand will exceed our capacity for an extended period,” Wei stated during the company’s annual investor gathering in Hsinchu, Taiwan.

Despite Thursday’s pullback, Taiwan Semiconductor shares have surged more than fourfold during the previous three years, propelled by remarkable expansion in its primary business serving semiconductor clients including Nvidia and AMD.

Wei reaffirmed TSMC’s projection for annual revenue expansion surpassing 30%. The semiconductor manufacturer elevated this guidance recently in April, simultaneously indicating capital expenditures would likely approach the upper boundary of a range extending to $56 billion.

The capacity shortage originates from industry leaders. Major cloud computing giants are projected to allocate a collective $725 billion toward AI infrastructure throughout this year, with TSMC serving as the critical provider for cutting-edge processors enabling substantial portions of this expansion.

Notwithstanding supply limitations, Wei indicated TSMC will avoid implementing aggressive pricing increases. The objective, he emphasized, centers on maintaining business consistency and reliability for clients.

American Manufacturing Footprint Expands

Under a bilateral US-Taiwan commercial arrangement, TSMC projects constructing a minimum of four additional semiconductor fabrication plants across the United States, supplementing six facilities already outlined. This represents roughly $100 billion in fresh capital obligations, exceeding the $165 billion previously allocated.

Wei noted two Arizona land parcels TSMC has secured should adequately accommodate its American expansion requirements for ten years.

The American initiative partly addresses client demands. Nvidia, Broadcom, and competing firms are vying for production capacity at TSMC’s most sophisticated manufacturing nodes, while geographical diversification mitigates geopolitical and logistics vulnerabilities.

TSMC personnel will also benefit from the growth. Wei confirmed employees will receive average compensation bonuses increasing beyond 30% this year, as mounting pressure encourages AI sector leaders to share prosperity more broadly.

Advanced Manufacturing Equipment Already Secured

Wei responded to investor questions regarding TSMC’s positioning in next-generation semiconductor production technology, particularly concerning ASML’s High-NA EUV lithography equipment.

These systems, capable of creating smaller and more densely packed transistor patterns than existing machinery, command prices reaching $400 million per unit. Intel has already integrated the technology. TSMC has not yet implemented it for volume manufacturing.

Wei confirmed Taiwan Semiconductor has acquired the equipment and is performing research and development activities. The constraint involves economics rather than technical capabilities. TSMC will only introduce the machines into production environments once utilizing them becomes financially sustainable at scale.

“We have secured that equipment, and our engineering teams are vigorously pursuing relevant research and development initiatives. It simply hasn’t reached deployment for high-volume manufacturing,” Wei explained.

He refused to disclose the quantity of units TSMC has purchased.

The statements echo comparable commentary from TSMC executive Kevin Zhang during April, when he characterized the new systems as “extremely costly” and stated current objectives remain attainable using standard EUV equipment. Those remarks temporarily pressured ASML stock downward.

Wei informed shareholders Thursday that TSMC’s present priority involves optimizing existing chipmaking equipment performance to lower production expenses.

Key Takeaways

• Broadcom’s Q2 adjusted earnings per share reached $2.44, surpassing analyst expectations of $2.40, while revenue climbed 48% to $22.19 billion
• The company generated $10.8 billion from AI-related products in Q2, marking a 143% increase compared to last year
• Shares declined 6.1% in extended trading as forward guidance underwhelmed market expectations
• Third-quarter revenue forecast of $29.4 billion exceeded Wall Street’s $28.25 billion estimate, but the margin wasn’t convincing enough
• CEO Hock Tan anticipates AI semiconductor sales will surpass $16 billion in Q3, representing growth above 200% year-over-year

Broadcom (AVGO) unveiled impressive quarterly figures on Wednesday, yet the market response was underwhelming. Shares tumbled 6.1% during after-hours trading following a regular session that saw the stock dip 0.5% to close at $479.23.

Broadcom Inc., AVGO

The financial performance appeared solid at first glance. Adjusted earnings per share landed at $2.44, topping the $2.40 consensus forecast from analysts. Total revenue expanded 48% from the prior-year period to reach $22.19 billion, slightly exceeding the $22.13 billion projection.

Artificial intelligence revenue stole the spotlight. The company generated $10.8 billion from AI-related products during the quarter ending May 3, representing a 143% jump from the corresponding quarter last year. This figure also exceeded Broadcom’s internal projections.

The semiconductor solutions division generated $15 billion during the quarter, marking a 79% year-over-year increase and surpassing the analyst consensus of $14.72 billion. Meanwhile, infrastructure software contributed $7.2 billion, reflecting 9% growth.

Free cash flow totaled $10.3 billion, accounting for 46% of total revenue. Cash holdings climbed to $19.6 billion at quarter-end, up from $14.2 billion in the previous quarter.

Forward Outlook Falls Short Despite Revenue Beat

Looking ahead to Q3, Broadcom projected revenue of approximately $29.4 billion — representing roughly 84% year-over-year expansion. While this exceeded the Street’s $28.25 billion forecast, the market had anticipated a more substantial figure.

CEO Hock Tan indicated that AI semiconductor revenue should expand more than 200% year-over-year during Q3, hitting $16 billion. “The momentum continues,” he stated in the company’s earnings announcement.

Market participants likely expected a more significant guidance increase given the accelerating growth trajectory already underway.

The stock had advanced 4.7% on Tuesday following Alphabet’s disclosure of plans to raise $80 billion in equity financing for AI infrastructure investments. Broadcom manufactures custom AI processors for Alphabet, including eight iterations of Google’s Tensor Processing Unit. This partnership spans a decade.

Currently, Broadcom develops customized AI chips for six major customers, including Alphabet and OpenAI. The company aims to reach $100 billion in AI chip revenue by 2027.

Software Division’s Share of Revenue Shrinking

Broadcom’s software business, assembled through strategic acquisitions prior to the AI explosion, was designed to balance out the cyclical semiconductor market. Last year, software represented 42% of overall revenue. By next year, that proportion is projected to decline to approximately 20% as AI chip sales accelerate dramatically.

Analysts continue to forecast around 11% revenue growth for the software segment in Q2.

HSBC recently upgraded its price target for Broadcom from $450 to $600 while maintaining a Buy recommendation. The firm pointed to anticipated ASIC revenue expansion in the latter half of fiscal 2026, fueled by partnerships with Google, Meta, Anthropic, and OpenAI.

Broadcom also announced a quarterly dividend of $0.65 per share, with payment scheduled for June 30, 2026. The company has increased its dividend payout for 16 straight years.

The stock maintains a market capitalization of $2.29 trillion. According to InvestingPro analysis, the shares appear overvalued compared to Fair Value calculations.

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.