The euro is showing signs of a modest recovery following a sharp decline triggered by a strong US employment report and increased demand for safe-haven assets amid escalating geopolitical tensions in the Middle East. Robust Nonfarm Payrolls data confirmed the resilience of the US labour market, allowing the dollar to strengthen against most major peers and reinforcing expectations that the Federal Reserve will maintain a restrictive policy stance.

Investor attention today will be focused on the release of US inflation data. According to forecasts, annual consumer price growth may accelerate to 4.2% from 3.8% previously, while core inflation is expected to rise to 2.9% from 2.8%. Should the figures exceed expectations, markets may once again reassess the outlook for Federal Reserve rate cuts, providing additional support for the US dollar.

Another key event will be the Bank of Canada policy meeting. The central bank is widely expected to leave its benchmark interest rate unchanged at 2.25%, although market participants will be paying close attention to the accompanying statement and policymakers’ comments regarding the future path of monetary policy. Any signals pointing towards further easing could weigh on the Canadian dollar and support gains in EUR/CAD.

EUR/USD

After breaking below the key support level at 1.1580 last week, EUR/USD buyers managed to push the pair back towards this area. Technical analysis suggests the pair may retest support near 1.1500. A break below this level followed by sustained trading underneath it could trigger a fresh bearish impulse, with initial downside targets in the 1.1400–1.1440 region. The bearish scenario would be invalidated by a decisive move back above 1.1580.

Key events for EUR/USD:

• Today at 12:30 (GMT+3): German 10-year government bond auction;
• Today at 15:30 (GMT+3): US Consumer Price Index (CPI);
• Tomorrow at 15:00 (GMT+3): Germany’s seasonally unadjusted current account balance.

EUR/CAD

EUR/CAD is also undergoing a corrective recovery following its previous decline, although further direction will largely depend on the outcome of the Bank of Canada meeting and the market’s reaction to US inflation data. Ahead of these releases, traders are likely to remain cautious, potentially encouraging consolidation around current levels.

Technical analysis points to range-bound trading within the 1.6030–1.6150 corridor. Price behaviour near these boundaries over the coming sessions may provide clearer signals regarding the pair’s next directional move.

Key events for EUR/CAD:

• Today at 16:45 (GMT+3): Bank of Canada interest rate decision;
• Today at 17:30 (GMT+3): US crude oil inventories;
• Today at 17:30 (GMT+3): Bank of Canada press conference.

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• The $54 support level is critical for the Hyperliquid price.
• HYPE futures open interest has fallen to $5.86B, triggering a leveraged unwind.
• Crypto Fear and Greed Index hit 15 as Bitcoin ETF outflows drove risk-off selling.

The Hyperliquid price has dropped 11% in 24 hours to $55.35, making it one of the hardest-hit assets in an already rough day for crypto.

While the broader crypto market is down, with Bitcoin falling 3.1% toward the $62,000 zone, HYPE’s losses were nearly four times larger; a pattern that tends to show up when a high-beta asset catches a deleveraging wave at the worst possible time.

The 7-day picture is even sharper. HYPE is down 23.7% over the past week and has now given back more than a quarter of its value from its all-time high of $75.48, set just eight days ago on June 2.

Why is the Hyperliquid price declining?

The clearest explanation for the size of the drop lies in the derivatives market.

Hyperliquid futures open interest has dropped to $5.86 billion, a signal that leveraged long positions were being closed rather than new short bets being placed.

At the same time, spot volume climbed 12.5%, meaning actual selling and not just funding rate shifts were hitting the market.

Traders who had built up leveraged positions during HYPE’s run to its all-time high were exiting, and the exits compounded each other.

Interestingly, the price drop was not driven by any negative news specific to the Hyperliquid protocol itself.

Daily buybacks continued as normal, and there were no reports of exploits or technical failures.

It was a speculative unwind, not a fundamental breakdown.

But that unwind happened against a difficult macro backdrop.

The broader market continues to struggle

The Crypto Fear and Greed Index fell to 15, deep in extreme fear territory, down from 47 just a month ago, and total crypto market capitalisation dropped 2.24% in 24 hours to approximately $2.13 trillion.

Traders were pulling back ahead of the Federal Reserve’s June 16–17 meeting, with CME FedWatch data showing a 98.2% probability that rates would stay unchanged.

Geopolitical tension added to the pressure after President Donald Trump indicated the US would respond to Iran allegedly shooting down an American Apache helicopter near the Strait of Hormuz.

Adding to the backdrop, the Hyperliquid Policy Centre (HPC) filed a joint comment letter with venture firm Paradigm on June 9, pushing back on a proposed rule from FinCEN and the Office of Foreign Assets Control that would implement anti-money laundering and sanctions requirements for stablecoin issuers under the GENIUS Act.

The GENIUS Act was signed into law in July 2025, establishing a federal framework for payment stablecoins, with implementation expected by January 2027.

The April-proposed rule would require stablecoin issuers to maintain AML programs, file Suspicious Activity Reports, and have the technical capability to block, freeze, or reject transactions violating US law, across both primary and secondary markets.

HPC and Paradigm’s objection centres on the secondary market scope.

In permissionless blockchain environments, issuers can see wallet addresses and transaction amounts, but they cannot identify who is actually transacting.

As the filing put it: “Issuers are subject to strict liability for transactions they cannot meaningfully police.”

The groups propose keeping heavier compliance obligations on the primary market, where issuers have direct customer relationships, and want a narrower approach in secondary markets, with the Travel Rule applying to pseudonymous wallet transfers only when operators have a direct relationship with the parties involved.

They also suggested that smart contract-level compliance measures, including address blocklists and transfer restrictions, should be recognized as sufficient, and that money laundering provisions should not extend to protocol developers and on-chain infrastructure participants.

HPC and Paradigm warned that if issuers are held responsible for every secondary-market interaction on permissionless networks, the likely outcome is that regulated stablecoins retreat from DeFi entirely, leaving a gap that unregulated offshore alternatives would fill.

What to watch next for HYPE

The immediate technical focus is the $54 level.

AltcoinSherpa notes that a break below the $54 support level would remove a key area that has been holding HYPE’s price action in place.

If HYPE holds above $54, the token could settle into a consolidation range between $54 and $65.

According to AltcoinSherpa, a break below $54 opens the door to the $44–$54 gap, which would represent a significant further drawdown from current levels.

On the derivatives side, a stabilization or recovery in open interest, currently at $2.48 billion, would be a sign that the selling pressure is exhausting itself.

Notably, if open interest keeps falling while price drops, it suggests more unwinding is still ahead.

One potential volatility catalyst worth monitoring is the SpaceX IPO listing, which could draw trading activity to Hyperliquid’s markets and introduce a new source of volume.

But whether that translates into price support for HYPE specifically is less certain, but it could shift the attention and activity on the platform.

Bitcoin reclaiming $63,000 would also improve the broader altcoin environment.

However, until that happens, altcoins like Hyperliquid (HYPE) remain exposed to further downside if macro sentiment stays cautious heading into the Fed meeting next week.

XRP holders are increasingly selling at a loss in a textbook sign of market capitulation.

The 90-day moving average of XRP’s realized profit-to-loss ratio has plunged to 0.38, according to data tracked by Glassnode.

That means for every $1 of losses investors are realizing right now, they are taking in just 38 cents in profit. Essentially, most of the coins trading on the blockchain are underwater.

The situation marks a reversal from the 2025 peak, when the ratio hit 50. At that time, profit-takers were overwhelming loss-sellers by a staggering 50-to-1.

A ratio this far below 1 is widely viewed as a hallmark of capitulation, a market phase where exhausted holders finally throw in the towel and sell, often after bearing the prolonged pain of holding coins in loss. It reflects intense fear or forced selling in the market.

While capitulation doesn’t always mark the exact bottom, it frequently appears near exhaustion points in downtrends. For XRP traders, this could mean that the bear market is in its final stages.

The payments-focused cryptocurrency traded at around $1.11 at press time, down nearly 40% for the year, according to CoinDesk data. Prices peaked above $3.60 last July.

Meta’s revenue rose by 33% year-on-year in the first quarter of 2026, reaching $56.3 billion. Adjusted earnings per share came in at $7.31, comfortably ahead of the consensus forecast of $6.67. However, the positive earnings results were overshadowed by other developments.

Alongside the report, the company raised its 2026 capital expenditure forecast to between $125 billion and $145 billion, which the market interpreted as a signal of potential pressure on free cash flow. Additional pressure on the share price emerged in early June following reports that Meta was considering raising tens of billions of dollars through a new share offering to finance AI infrastructure projects. The company itself dismissed these reports as “pure speculation”.

Technical Picture

Since the beginning of April, Meta shares had been trading within an ascending trend structure that originated from the March low. Towards the end of April, however, a gap formed on the chart, followed by a break of the trendline. Since then, the stock has entered a sideways phase, losing its previous upward momentum.

The share price is currently trading below the lower boundary of the volume profile at 598 and below the point of control (POC) located in the 610–611 area — levels that could once again attract market attention should buying interest return.

The green support level near 565 may serve as a downside target if selling pressure continues. Meanwhile, the resistance zone around 641 remains the next major upside reference point in the event of a reversal and a break above the upper boundary of the profile.

The RSI and its moving averages currently stand at 37, 44 and 46. The oscillator has moved below the neutral zone, while the moving averages continue to confirm the prevailing bearish direction.

Key Takeaways

Following the break of the ascending trendline and the formation of the April gap, Meta shares entered a consolidation phase and are currently testing its lower boundary. Future price action will largely depend on how transparent management proves to be regarding the financing of its AI initiatives and whether the company can demonstrate that its substantial capital investments translate into tangible operational results.

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Key Takeaways

• A security breach involving an employee’s laptop led to the exposure of private keys controlling Humanity Protocol’s bridge infrastructure.
• The attackers gained control of three out of six multisig keys, enabling them to manipulate token bridges on both Ethereum and BNB Chain.
• Approximately 141 million H tokens were extracted from Ethereum, while 200 million tokens were illegally minted on BNB Chain.
• H token’s value plummeted more than 85%, declining from approximately $0.67 to bottoming out at $0.05.
• On-chain analysts detected suspicious wallet movements before the attack occurred, though no conclusive evidence of insider involvement has emerged.

Humanity Protocol revealed this Tuesday that cybercriminals successfully extracted more than $36 million in its H token following unauthorized access to private keys housed on a compromised employee computer.

The platform operates cross-chain bridges facilitating H token transfers between Ethereum and BNB Chain networks. These bridges were safeguarded using multisignature wallet technology—a security mechanism demanding multiple key approvals before executing transactions or modifying smart contracts.

According to founder Terence Kwok, the key distribution followed proper protocol across four separate individuals. However, a critical error occurred during the initial configuration phase when several keys were inadvertently stored on one device that subsequently fell victim to compromise.

“Some of the keys were accidentally backed up to a compromised device during setup,” Kwok said.

Breaking Down the Exploit

On Ethereum, the perpetrators secured three of the six keys associated with the bridge’s administrative account. This threshold gave them complete authority over the system. They swapped the authentic bridge smart contract with a fraudulent replacement and extracted approximately 141.2 million H tokens through one massive transaction.

On BNB Chain, the attackers compromised three of five keys. They injected an unlimited minting capability into the bridge contract and exploited it to create 200 million fresh H tokens, transferring them straight into their controlled wallet.

The development team immediately suspended all deposit and withdrawal operations on both compromised bridges upon detecting the security breach.

Market Reaction and Price Collapse

The H token had experienced strong upward momentum during the weeks preceding the breach, surging from approximately $0.20 to $0.70. Following public disclosure of the exploit, the token’s value crashed to around $0.05—representing a catastrophic decline exceeding 85%.

While the token eventually rebounded toward the $0.20 level, significant damage had already occurred. In the aftermath, Humanity Protocol’s team information page was also taken down from their official website.

Investigating the Attack’s Source

On-chain investigator ZachXBT initially raised concerns about potential connections between irregular market-making operations and over-the-counter H token transactions and the security breach. He subsequently clarified that these activities appeared unrelated to the key compromise incident.

Security researcher Elton Shehdula from Allium Labs suggested the blockchain evidence indicated a carefully orchestrated operation. He observed that wallets participating in the attack received funding from both an exchange and a mixing service several weeks beforehand. The attacker also seemingly tested minting permissions days before launching the full-scale exploit, with the drainage occurring simultaneously across both blockchain networks.

Shehdula indicated that such meticulous preparation suggests either an internal threat actor or an external adversary who had maintained covert possession of the compromised key for an extended period.

Cyvers security director Hakan Unal noted that the blockchain evidence presents an ambiguous picture. He explained that authentic external attacks typically display hasty characteristics—rapid fund transfers to newly created wallets, disadvantageous swap rates, and immediate mixer usage. Conversely, orchestrated events may exhibit more controlled timing patterns, particularly coinciding with token unlock schedules or vesting milestones.

Currently, Humanity Protocol states it is collaborating with cryptocurrency exchanges and additional stakeholders to explore potential recovery strategies. The specific circumstances surrounding the initial laptop compromise remain undisclosed to the public.

The European Commission has proposed sanctions on 20 non-EU entities, including crypto platforms, as part of a new package that could introduce the bloc’s first country-level ban on foreign crypto services linked to Russian sanctions evasion.

According to the European Commission, the proposed 21st sanctions package targets banks, oil traders, and cryptocurrency platforms that have allegedly provided services to sanctioned Russian individuals and entities. 

European Commission President Ursula von der Leyen said the measures are designed to close remaining channels used to bypass existing restrictions.

Under the proposal, transaction bans would be extended to the listed non-EU entities. In addition, the commission is seeking authority to prohibit crypto services originating from entire non-EU jurisdictions if those countries host platforms that help sanctioned Russian actors continue operating.

“It will act as a strong deterrent for the countries hosting platforms that help Russia evade our sanctions,” von der Leyen said.

Crypto platforms face growing sanctions scrutiny

The proposal arrives as regulators on both sides of the Atlantic increase pressure on crypto infrastructure they believe supports sanctioned states and illicit financial networks.

Chainalysis reported that illicit cryptocurrency addresses received $154 billion in 2025. The blockchain analytics firm also identified substantial activity linked to Russia, citing approximately $93.3 billion in transaction volume involving the ruble-backed stablecoin A7A5, which it said represented a significant portion of state-linked crypto activity.

Earlier this year, blockchain research firm Elliptic identified five crypto exchanges that it said provided financial pathways used to bypass sanctions while operating outside traditional banking oversight.

Recent enforcement actions have already targeted several crypto businesses accused of supporting sanctioned networks. In May, the United Kingdom sanctioned Huobi Global S.A., which authorities linked to HTX, over allegations that it provided services to the Russia-connected A7 network. The UK government imposed asset freezes, payment restrictions, internet service sanctions, and other measures against the company.

Elliptic said the UK action represented the first use of Regulation 17A against a cryptoasset exchange, extending restrictions on correspondent banking relationships and payment processing involving designated entities.

Across the globe, the U.S. Treasury in June designated four Iranian cryptocurrency exchanges, Nobitex, Wallex, Bitpin, and Ramzinex, alleging they helped sanctioned entities access the digital asset ecosystem. Treasury officials said cryptocurrency services had become part of Iran’s efforts to move funds outside traditional financial channels.

Russia prepares domestic crypto framework

While European authorities move toward tighter restrictions, Russia is preparing a comprehensive cryptocurrency regulatory framework expected to be introduced in July.

The planned rules would establish licensed domestic trading platforms, creating a regulated structure for local crypto activity as international scrutiny of Russia-linked digital asset flows continues to increase.

Outside the crypto sector, the European Commission’s latest package also seeks to tighten pressure on Russia’s energy and trade sectors. Proposed measures include additional restrictions on oil vessels and the first sanctions targeting Russian fisheries.

“Our sanctions keep biting hard and cutting deep; they are weakening the economic foundations of Russia’s war effort,” von der Leyen added.

Key Points

• Kraken secured the position of Official Crypto Exchange Supporter for FIFA World Cup 2026
• The agreement encompasses digital asset education, supporter engagement initiatives, and platform awareness throughout North America and European markets
• The tournament will showcase an unprecedented 48 national teams competing in 104 fixtures across 16 metropolitan areas in three nations
• Tournament organizers project a combined audience exceeding six billion spectators worldwide
• Initial fan engagement launches with the FIFA World Cup 2026 Countdown Concert scheduled for June 10

The cryptocurrency exchange Kraken has secured official supporter status for the FIFA World Cup 2026 tournament. This arrangement spans North American and European territories, emphasizing supporter interaction, cryptocurrency literacy programs, and platform exposure surrounding the global football event.

Romy Gai, FIFA’s Chief Business Officer, indicated the collaboration aligns with the federation’s objectives for enhancing supporter experiences. Arjun Sethi, co-CEO of Kraken, emphasized that football transcends geographical and linguistic barriers, suggesting financial systems should operate similarly.

The 2026 tournament unfolds over seven weeks spanning the United States, Canada, and Mexico. This marks the inaugural expanded format featuring 48 participating nations and 104 total matches. FIFA anticipates cumulative viewership surpassing six billion people globally.

Kraken’s Tournament Engagement Strategy

Kraken plans to leverage the World Cup’s massive platform for introducing football enthusiasts to cryptocurrency technology. The strategy prioritizes educational content, brand recognition, and seamless platform accessibility.

Supporter engagement activities are scheduled throughout the pre-tournament and competition periods. These initiatives will integrate with match broadcasts, football supporter networks, and tournament-related events across both continental regions.

The inaugural public engagement coincides with the FIFA World Cup 2026 Countdown Concert happening June 10. This multi-city concert series represents part of the broader pre-tournament promotional campaign.

The financial details of the FIFA partnership agreement remain undisclosed by Kraken.

Existing Sponsorship Portfolio

Kraken maintains current partnerships with prominent football clubs including Tottenham Hotspur, Atlético de Madrid, and RB Leipzig. The platform additionally sponsors Atlassian Williams Racing in the Formula 1 championship.

These existing agreements positioned Kraken before substantial football and motorsport audiences prior to finalizing the World Cup arrangement. The FIFA deal significantly amplifies that exposure to a worldwide tournament audience.

With more than ten years of operational history, Kraken maintains service across over 190 nations. This established framework will support the company’s World Cup-related programming initiatives.

Cryptocurrency platforms have progressively utilized sports partnerships for reaching audiences beyond traditional trading demographics. Kraken’s strategy emphasizes educational outreach and brand awareness rather than direct trading solicitation.

The 2026 World Cup represents FIFA’s most expansive tournament regarding participating teams and total matches. Spanning three nations and 16 host metropolitan areas, the arrangement provides Kraken extensive geographical reach for its engagement initiatives.

Sethi characterized the tournament as a worldwide platform where football culture and digital finance converge. Both FIFA and Kraken emphasized supporter engagement as the partnership’s fundamental objective.

The June 10 countdown concert launches Kraken’s public-facing World Cup programming. Engagement activities throughout North America and Europe will continue through the tournament’s conclusion.