TLDR:

• Singapore Police Force blockchain analysis helped block over $4.2M in potential crypto scam losses in six weeks.
• Seven crypto exchanges including Coinbase, OKX, and Gemini supported the SPF’s second joint anti-scam operation.
• Officers conducted 145+ targeted interventions using Chainalysis and TRM Labs blockchain analytical tools.
• The operation covered government impersonation, investment, job, and love scam categories across Singapore.

The Singapore Police Force blockchain analysis operation has blocked over $4.2 million in potential scam losses. Running from April 16 to May 31, 2026, the six-week effort reached more than 145 victims across multiple scam categories.

The Anti-Scam Centre and Cyber Investigation Branch partnered with seven cryptocurrency exchanges. Advanced analytical tools from Chainalysis and TRM Labs powered the interventions.

The operation marks the second collaboration of its kind between the SPF and the private sector.

Exchanges and Tools Drive Faster Victim Identification

The second operation expanded on the foundation set by the first joint effort. That earlier campaign had protected $2.86 million and reached over 90 victims.

This time, the participating exchanges included Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Upbit. The broader consortium allowed officers to cast a wider net across the blockchain.

Chainalysis publicly acknowledged the growing impact of the partnership. “From $2.86M to the addition of $4.2M protected. From 90+ to 145+ victims reached,” the firm stated.

It added that when public-private partnerships are sustained and scaled, impact grows. The numbers reflect a measurable step forward in proactive crypto crime prevention.

Officers conducted more than 145 targeted interventions through phone calls and in-person visits. Exchanges facilitated this by providing timely customer data upon request.

The scam categories covered included government impersonation, investment fraud, job scams, and love scams.

The combination of investigative capability and exchange cooperation made early detection possible. Without the data-sharing agreements in place, officers would have had fewer entry points into victim identification. The operation showed how intelligence-led policing can work effectively within the crypto space.

Public Awareness Remains Central to the Anti-Scam Strategy

Beyond the technical operations, the SPF maintained its public education push throughout the campaign. The force continues to promote its “ACT” framework, which stands for Add, Check, and Tell. Each element targets a different stage of scam prevention for ordinary users.

Under the Add step, residents are encouraged to install the ScamShield app and activate two-factor authentication.

Setting transaction limits on banking and PayNow accounts also reduces exposure. These measures work as a first line of defense before a scam reaches a critical stage.

The Check step urges the public to pause before transferring money or sharing personal details. Verifying the legitimacy of requests and online listings can prevent losses before they occur. The rule of thumb remains straightforward: if it appears too good to be true, it probably is.

The Tell step involves reporting scam encounters to banks, ScamShield, or directly to police. Residents can call the ScamShield Helpline at 1799 or reach the Police Hotline at 1800-255-0000. Sharing information about active scams within communities also helps limit the reach of fraudsters.

Paris-based crypto data platform Kaiko acquired Amberdata, a US-focused digital asset data provider, as institutional investors demand broader market, derivatives and onchain analytics for digital assets.

Kaiko said the deal will expand its institutional data stack and help the combined company serve banks, asset managers, hedge funds, exchanges and trading firms that need cleaner data across fragmented crypto markets, according to an announcement shared with Cointelegraph.

The acquisition adds Amberdata’s derivatives analytics and artificial intelligence-powered research tools, including the GVOL options analytics platform, which Kaiko said had been one of the most requested capabilities from institutional clients.

The transaction was finalized on Monday, but the size and terms of the deal remain confidential, Ambre Soubiran, CEO of Kaiko, told Cointelegraph.

The deal marks Kaiko’s fifth acquisition and expands its effort to consolidate institutional-grade crypto market data, derivatives analytics and onchain infrastructure. Kaiko said the combined company will serve 250 institutional clients worldwide. Kaiko acquired onchain data infrastructure provider Cometh on May 20, which is licensed under the European Union’s Markets in Crypto-Assets Regulation (MiCA) as a crypto asset service provider.

Kaiko platform homepage. Source: Kaiko.com

In February, Bloomberg announced a collaboration with Kaiko to make Bloomberg’s licensed financial data accessible directly within blockchain-native environments, expanding from traditional offchain databases to address the challenge of inconsistent data across tokenized markets, Cointelegraph reported.

Reliable data is particularly important in markets linked to tokenized real-world assets to ensure that onchain assets mirror the pricing of the underlying financial instruments.

Related: NYSE parent ICE pushes ‘level playing field’ for 24/7 onchain perps

Crypto data firms need to adhere to TradFi standards: Kaiko CEO

Cryptocurrency data companies need to adhere to stricter TradFi-like standards to facilitate the growing institutional participation in the industry, Kaiko’s Soubiran told Cointelegraph, adding:

“The growing participation from banks, asset managers, and hedge funds accelerates the demand, and this acquisition is the completion of a strategy that has been underway since day one.”

Amberdata’s acquisition makes Kaiko the “only independent, globally regulated company that can serve every data need an institution has,” she added.

LIT trading price, listing time, minute-by-minute. Source: Kaiko

Earlier in May, Kaiko’s data platform flagged concerning trading patterns suggesting that some traders are frontrunning crypto listing announcements on Robinhood, raising concerns that some market participants have access to non-public listing information or an “exceptionally reliable front-running methodology built on public signals.”

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The UK Financial Conduct Authority has warned football clubs that sponsorship deals with unauthorised crypto firms could expose fans to financial harm while creating legal, money laundering and reputational risks for clubs.

According to the FCA, it has written to Premier League clubs and other football organizations after identifying concerns that some crypto companies and trading platforms may be using sponsorship agreements to promote financial products in Britain without the required authorization.

The regulator said unauthorised firms could be breaching the UK’s financial promotion rules by gaining visibility through partnerships with high-profile football teams and using those relationships to reach large audiences of supporters.

Speaking on the issue, Lucy Castledine, director of consumer investments at the FCA, said millions of fans place trust in their clubs and should not be exposed to potentially unsafe financial products through sponsorship arrangements. 

Castledine warned that unauthorised firms could seek to benefit from that loyalty while offering products that fall outside the UK’s regulatory safeguards.

Having already contacted clubs where concerns were identified, the FCA said it would take further action where necessary. The regulator added that customers using unregulated firms face the risk of losing all their money and are unlikely to have access to regulatory protections if something goes wrong.

Alongside consumer protection concerns, the warning also touches a growing source of revenue for football clubs.

According to Deloitte, commercial and sponsorship income has overtaken broadcasting revenue as the largest source of earnings for many clubs. Manchester City generated €408 million ($475 million) from commercial activities in 2025, exceeding its €332 million in broadcasting revenue, according to Deloitte’s figures.

Commenting on the issue, UK Sports Minister Stephanie Peacock said sponsorship revenue remains important for the football industry, but supporters deserve confidence that companies associated with their clubs are responsible, accountable and safe to use.

FCA steps up scrutiny as crypto rulebook takes shape

Elsewhere, the warning arrives as the FCA continues work on a wider framework for digital assets ahead of the UK’s planned crypto licensing regime.

Back in April, the regulator launched consultations covering stablecoins, crypto trading platforms, custody services and staking activities. The FCA said those proposals are intended to define how crypto businesses will operate under the future Financial Services and Markets Act framework and help firms prepare for upcoming authorization requirements.

Under the current timetable outlined by the FCA, crypto companies will be able to apply for authorization from September 30, 2026, while the full cryptoasset regime is scheduled to take effect on October 25, 2027. The regulator has repeatedly stated that it wants UK consumers to be served by authorised crypto firms and to have sufficient information to make informed decisions.

Crypto is losing its momentum-trade status as investors turn toward AI stocks, according to Bitwise chief investment officer Matt Hougan.

Hougan said the crypto market is under pressure because investors now have several fast-moving alternatives. In a June 2 market note, he pointed to AI stocks, robotics firms and SpaceX as assets drawing market attention away from digital assets.

“The crypto market is brutal right now,” Hougan wrote. He added that crypto is moving “from momentum trade to contrarian bet” as AI takes more investor attention.

The shift comes after AI-linked stocks gained strong demand following the public launch of ChatGPT in late 2022. Nvidia, a key AI chipmaker, has seen its shares rise sharply since then, making AI one of the main stories in public markets.

Hougan said this change does not mean crypto is disappearing. Instead, he said it changes the type of investor and project that the market rewards.

Fundamentals Replace Market Hype

Hougan said contrarian bets need patience and a focus on fundamentals. He said investors who still believe in crypto now look for clear revenue, strong use cases and projects with working business models.

“Investors still believe in crypto, but now that it’s a contrarian bet, they favor fundamentals over vibes,” Hougan wrote.

He said this explains why some smaller tokens have performed better than major assets. Hyperliquid, BNB, Zcash and Stellar posted gains in May, while Bitcoin, Ethereum and Solana remained under pressure.

According to Hougan, that rotation shows that the market is no longer rewarding broad crypto exposure in the same way. It is now rewarding assets with clearer stories and stronger data.

Bitcoin weakness reflects broader market rotation

As previously reported by crypto.news, Binance Research also linked Bitcoin’s recent weakness to capital moving into U.S. equities. The firm said AI, defense and energy stocks have pulled flows away from Bitcoin during the current quarter.

Bitcoin also fell below $70,000 after U.S. spot Bitcoin ETFs recorded $483 million in daily net outflows. Those withdrawals extended an 11-session outflow streak that topped $3.4 billion.

Crypto.news also reported that Mt. Gox-linked wallets moved 10,306 BTC worth about $739 million. No direct sale was confirmed, but the transfer added new concern about possible supply entering the market.

The market remains weak, but Hougan said green pockets in smaller assets may show that crypto is closer to the end of the downturn than the start. He said the next phase will likely depend on fundamentals, regulation and whether investors return after the AI trade cools.

Bitcoin price is testing the key $65,000 support zone after Iran’s retaliatory strikes against the U.S. spooked investors, with charts suggesting a deeper slide toward $60,000 if bears remain in control.

According to data from crypto.news, Bitcoin (BTC) fell 4.5% to an intraday low of $65,700 on Wednesday, June 3, before recovering to trade near $67,100 at press time. The decline extended losses that began after BTC previously broke below the key $72,000 and $68,000 support levels, bringing the cryptocurrency close to its lowest price since February.

Bitcoin price faced pressure on Wednesday after reports said Iran launched missiles at the U.S. Fifth Fleet headquarters in Bahrain following U.S. strikes. The escalation added fresh risk-off pressure across crypto markets as investors moved toward defensive assets, including gold and silver.

U.S. spot Bitcoin ETFs added to the selling pressure after recording $519 million in net outflows on Tuesday, per data from SoSoValue. The withdrawal extended the outflow streak to 12 straight trading days, the longest such run since the fund’s launch, showing that institutional demand has weakened during the latest downturn.

Strategy’s disclosure also remained a concern for traders. The company said in a Form 8-K filing that it sold 32 BTC for roughly $2.5 million, its first Bitcoin sale in nearly four years. While the sale was small, it challenged the firm’s long-running buy-and-hold narrative and weighed on market confidence.

Bitcoin selloff has intensified as macro stress returns

Oil markets remained volatile as traders assessed the risk of further disruption in the Middle East. Crude prices had jumped earlier after tensions around Iran and the U.S. worsened, raising concerns that energy inflation could return as a policy problem for the Federal Reserve.

Gold and silver prices fell alongside cryptocurrencies, suggesting investors were cutting risk across markets rather than seeking refuge in precious metals. At the same time, Japan’s Nikkei 225 rose 2.5% on Wednesday, highlighting a divergence between crypto assets and parts of the equity market.

Derivatives markets added to the decline, with more than 272,300 traders liquidated over the past 24 hours. Total crypto liquidations reached $1.8 billion, most of which came from long positions as Bitcoin lost key support levels per data from CoinGlass.

Mt. Gox-linked wallets also revived supply concerns after moving 10,422 BTC, worth roughly $739 million, to a new address. No direct sale was confirmed, but the transfer renewed fears that creditor repayments could bring additional spot supply into a weak market.

Bitcoin breakdown puts $65K and $60K support in focus

On the daily chart, Bitcoin price is close to completing a rounding top pattern after failing to sustain its recovery from the February low. In technical analysis, a rounding top is a bearish reversal formation that often develops near market peaks and can lead to a deeper correction once support at the base of the pattern breaks.

The weekly chart shows BTC trading below the 0.786 Fibonacci retracement level near $74,233. The next major level sits near the full retracement zone around $60,042, while the $65,400 area now acts as the first downside checkpoint.

The Supertrend indicator on the weekly chart has flipped bearish, with resistance near $90,050. Bitcoin also remains far below the 0.618 Fibonacci level near $85,374 and the midpoint retracement near $93,199, leaving the recovery path difficult unless buyers reclaim higher levels quickly.

Momentum indicators seem to favor the sellers. On the daily chart, the Aroon down line is at 100%, while the Aroon up line is near 7.14%, showing that sellers still control the short-term trend. The MACD line has also dropped deeper below the signal line, with the histogram below zero.

According to crypto analyst Master of Crypto, Bitcoin has “already lost the $72K and $68K support levels.” 

“Now, all eyes are on the $60,000 demand zone. If tensions keep rising, don’t be surprised if BTC moves quickly toward a test of $60K.”

Team LAMBO shared a similar view after Bitcoin nearly hit its $65,000 target. Commenting on the setup, the analyst noted that BTC “might go retest the 0.618 fib and then see a rejection from 68.7k towards 65k or even lower to sweep liquidity.”

A clean break below $65,000 would expose the $60,000 demand zone next. However, a recovery above $68,700 could delay the downside move and open a retest of $72,000. A stronger close above $74,233 would weaken the bearish setup and bring the lost Fibonacci support back into play.

While residents of California, Iowa, Montana, New Jersey, New Mexico and South Dakota are voting today in Democratic and Republican Congressional primaries, the cryptocurrency industry is more focused on the Maryland primaries later this month.

According to filings with the US Federal Election Commission (FEC) as of Tuesday, the Coinbase- and Ripple-backed political action committee (PAC) Fairshake affiliate Protect Progress spent about $3 million combined to support Democratic candidates in House races across California and New Jersey. Another affiliate, Defend American Jobs, spent more than $411,000 to support Republican Senator Mike Rounds’ reelection bid in South Dakota.

In addition to its activities in California, Protect Progress appeared to be prepared for significant spending in Maryland, where primary elections are scheduled for June 23.

FEC filings showed the crypto-backed PAC spent more than $3.1 million on media to support Democratic candidate Adrian Boafo in Maryland’s 5th district, and about $320,000 on Ritchie Torres’ reelection to New York’s 15th district, which will also hold a primary on June 23.

Source: FEC

Today’s California races will be another test of the cryptocurrency industry’s influence over US elections after Fairshake and other PACs backed House and Senate candidates who won their primaries in Texas last week. In addition to Fairshake, which reported a war chest of more than $193 million as of January, crypto-aligned PACs included Fellowship, backed by $11 million from financial company Cantor Fitzgerald and crypto custodian Anchorage Digital and the Blockchain Leadership Fund funded by $175,000 from Chainlink and Anchorage.

Related: Senator Lummis says China will ‘write the rules’ of new financial era if CLARITY fails

Fairshake has been open about its intention to force out House and Senate lawmakers it considers “anti-crypto,” such as Representative Al Green, who voted against the stablecoin legislation GENIUS Act and digital asset market structure bill, CLARITY. The Texas lawmaker lost his primary for the state’s 18th congressional district after Protect Progress spent $5 million supporting his opponent, Democrat Christian Menefee.

CLARITY Act added to the US Senate legislative calendar

After advancement by the US Senate Agriculture Committee in January and the Banking Committee in May, lawmakers have added the Digital Asset Market Clarity (CLARITY) Act to the chamber’s calendar for consideration and a potential vote. Notably, both versions of the bill with amendments passed by the respective committees will likely need to be consolidated before a vote.

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NewLimit, a longevity biotech startup co-founded by Coinbase CEO Brian Armstrong, has raised $435 million in Series C funding to move its first age-reprogramming medicine toward human trials.

NewLimit Secures $435M Series C

NewLimit announced the funding round on June 2, saying Founders Fund led the raise. New investors Thrive Capital, Greenoaks and Quiet Capital joined the round, while existing backers Kleiner Perkins, Abstract, Nat Friedman and Daniel Gross, Valor Equity Partners, Eli Lilly Ventures and Human Capital also took part.

The company said it will use the funds to push its first aging reprogramming drug into human clinical trials next year. “Following breakthrough results, we’re bringing longevity medicine to human trials,” NewLimit said.

Startup Targets Cell Aging

NewLimit focuses on epigenetic reprogramming, a method that aims to restore youthful function in old cells. The company says its medicines are designed to treat diseases linked to aging by changing how cells behave, without changing the DNA code itself.

Its first program targets the liver. NewLimit said its liver therapy helped old human liver cells show signs of younger function in early research. The company plans to test how that approach works in people during its first human trial.

Armstrong’s Bet Moves Beyond Crypto

NewLimit was founded in 2021 by Armstrong, former GV partner and bioengineer Blake Byers, and computational biologist Jacob Kimmel, who serves as chief executive and president. The company has become one of Armstrong’s most visible projects outside Coinbase.

The raise also comes as crypto.news has tracked Armstrong’s wider push into AI and automation. Recent coverage said Coinbase used AI to cut account restriction resolution times by 90%, while Armstrong also listed AI tools, stablecoins and tokenization among key finance upgrades.

Longevity Funding Gains Momentum

The $435 million round places NewLimit among the better-funded private longevity startups. The Wall Street Journal reported that the raise lifted NewLimit’s valuation to $3.1 billion, more than triple its level from last year.

The company still has no approved product on the market. Its next test will come in human studies, where it must show that early cell-level results can translate into a safe and useful medicine.

NewLimit said it first believed that bringing an aging medicine into human trials would take more than a decade. The company now says recent scientific results helped it move faster than expected.

The raise gives NewLimit more capital to expand its research across liver, immune, metabolic and vascular programs. It also gives Armstrong’s biotech project a larger role in the growing market for longevity medicine.