Crypto World
US Clarity Act Sparks Bullish Bitcoin Sentiment, Santiment Finds
Bitcoin’s near-term trajectory has drawn renewed attention as momentum builds around the US Digital Asset Market Clarity Act (CLARITY). Crypto sentiment tracker Santiment said social chatter spiked after the Senate Banking Committee advanced the bill in a 15-9 vote, signaling a potential shift toward Congressional clearance for the industry’s regulatory framework.
In a Friday post, Santiment noted the euphoria across crypto communities following the committee’s move, arguing that a successful passage would bring Bitcoin and the broader sector closer to formal rules. The act, which would establish clearer standards for digital assets, has been the subject of ongoing debate since its introduction, and today’s committee vote marks a notable milestone in what remains a complex legislative process. Cynthia Lummis, a prominent advocate for crypto legislation, highlighted the development on social media as a significant step forward.
Key takeaways
- The Senate Banking Committee advanced the Digital Asset Market Clarity Act in a 15-9 vote, with all 13 Republicans and two Democrats voting in favor, while nine Democrats opposed the bill, according to coverage surrounding the session.
- Bitcoin is trading around $79,084, up roughly 3.15% from early May, as market participants react to the potential for clearer U.S. regulatory guidance.
- Sentiment metrics show a bullish tilt in social chatter, yet Santiment cautioned that the market has historically moved contrary to the crowd, underscoring the need for disciplined risk management.
- Industry voices remain optimistic about a long-term regulatory path, with analysts framing CLARITY as a potential spark for the next phase of a crypto cycle.
- Even with momentum, White House officials stress that the bill is far from finalized, and patience will be required as lawmakers work to secure broader support.
Regulatory momentum and market mood
The committee’s approval of the CLARITY Act represents a meaningful procedural step toward enshrining a formal regulatory regime for digital assets in the United States. Santiment described the vote as a catalyst that could unlock a more favorable environment for both retail and institutional participants if the bill progresses to the Senate floor and beyond. A recap of the session shows bipartisan prodding, with all Republican members and a few Democrats backing the move, reflecting underlying cross-party interest in providing regulatory guardrails for the sector.
Bitcoin’s price action underlines that momentum can influence broad interest. As of market data cited by CoinMarketCap, the benchmark cryptocurrency hovered near $79,084, reflecting a modest rise since the start of May. The price move, while not dramatic, aligns with a period where participants are weighing the potential macro and regulatory catalysts that could accompany clearer rules for the space.
Industry voices weigh in
Reaction from market commentators underscores a mix of optimism and prudent caution. Michael van de Poppe, founder of MN Trading Capital, described the CLARITY Act as a historically significant bill that could act as a strong trigger for a forthcoming bull market, suggesting the legislation’s potential to recalibrate risk appetites and institutional participation. His commentary, shared on social media, reflects a view that regulatory clarity could attract new capital and accelerate adoption across builders and users alike.
On the White House side, Patrick Witt, the administration’s crypto advisor, cautioned that the path to enactment remains uncertain. In a post on social media, Witt emphasized that more work lies ahead before the bill can reach the president’s desk, highlighting ongoing negotiations and the need for broad support on Capitol Hill. These remarks remind readers that while momentum exists, the legislative journey is far from complete.
From a sentiment-tracking perspective, Santiment noted a current ratio of 1.55 bullish social comments for every bearish one regarding Bitcoin. The firm cautioned that such sentiment indicators can be a double-edged sword, warning that markets often move against crowded expectations. The message to readers is clear: while the narrative may be bullish in the near term, risk management remains essential as developments unfold.
Cynthia Lummis’s social post, cited in coverage of the vote, adds to the narrative of a zealous but divided governing body: lawmakers see potential in bringing regulatory clarity, even as debates about scope and enforcement continue. The broader implication for the sector hinges on whether the CLARITY Act can secure sufficient support on the Senate floor and in any potential conference with the House.
Caution and what to watch next
Despite the upbeat tone around the CLARITY Act, observers emphasize that a finalized bill is not guaranteed. The White House has signaled that work remains, and the administration’s crypto policy team will likely advocate for provisions that can garner broader political backing. As Witt noted, patience will be required as negotiators seek a path to passage that satisfies a diverse coalition of lawmakers.
Beyond legislative dynamics, market metrics continue to show a tempered mood. The Crypto Fear & Greed Index posted a Fear reading around 31, signaling cautious sentiment despite hopeful headlines about regulatory clarity. In the near term, traders will likely weigh how the regulatory process interacts with macro risk factors, liquidity conditions, and evolving narratives around technology, securities classifications, and market structure.
For investors and builders, the key takeaway is that regulatory clarity remains a high-priority objective that could reshape capital flows and strategic planning. If CLARITY progresses toward passage, institutions may re-evaluate exposure, product development, and collaboration with traditional financial players. Conversely, any stalling or concessions could keep the market in a more cautious stance, with volatility remaining a prominent feature of the regulatory narrative.
As the week unfolds, eyes will turn to the Senate floor discussions, potential House engagement, and fresh commentary from policymakers and industry participants. A conclusive path to law would hinge on consensus-building across committees and factions, and market participants should prepare for a stepwise process rather than an immediate windfall.
Readers should monitor updates on the regulatory front, watch for any shifts in political backing, and track additional comments from key voices in the industry. The outcome will shape not only price action but also the strategic calculus of exchanges, custodians, and developers seeking a clearer operating environment in the United States.
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 latest Wintermute crypto prediction says capital has not returned, and no bottom is confirmed. BeInCrypto analysts tested every checkable claim against on-chain data. The short answer is that the call holds, except for the one thing it dismisses.
Bitcoin trades near $62,000 after a 14% weekly drop, back to levels last seen in September 2024, while the Nasdaq fell 4.7% amid AI exhaustion.
What the Wintermute Crypto Prediction Actually Says
The market maker’s June 8 note argues the decline came from US institutional selling and Bitcoin ETF outflows, not from Strategy’s sale of 32 BTC.
That sale, the firm’s first since 2022, was immaterial in size and symbolic in signal, in Wintermute’s words. Disclosures this week even showed Strategy back on the bid with a 1,550 BTC purchase.
Here, the desk pushes back on one point. The coins never hit order books, yet sentiment data reviewed by BeInCrypto shows Bitcoin’s positive sentiment score collapsing from 814 on June 3 to 61 now, a fall of more than 92%.
The crash brackets the sale’s circulation, suggesting the damage ran through psychology even if it skipped the tape.
The macro half of the Wintermute crypto prediction reads good news as bad news. May payrolls printed 172,000 jobs against roughly 80,000 expected, services prices hit their hottest since August 2022, and the 10-year yield rose to 4.55% on Friday.
Consequently, the easing case faded, and some analyst commentary now frames oil-driven inflation as a potential trigger for a rate hike.
Wintermute adds one structural worry. Bitcoin never spent meaningful time between $50,000 and $59,000 in 2024, so few shelves exist underneath, leaving capital flows to set direction.
So BeInCrypto analysts checked the flows first.
The Money Has Not Come Back, and the Reserves Prove It
The cleanest gauge is stablecoin exchange reserves, the pool of dollar-pegged tokens sitting on exchange wallets as ready-to-deploy buying power.
CryptoQuant data reviewed by BeInCrypto shows that the pool peaked at $75.12 billion on November 12, 2025. Roughly a month after BTC’s all-time high.
It has since drained to $62.81 billion as of June 10, 2026, a fall of roughly 16%. That round-trips the entire fourth-quarter build and returns reserves to a level even lower than last seen in late September 2025, before the price peak even formed.
The broader stablecoin market cap tells the same story from another angle. DefiLlama shows the total float at $315.97 billion, down $3.25 billion in the past week after topping near $323 billion.
Dry powder is draining while the total money on crypto’s rails leaks at the same time.
On its core claim, the Wintermute crypto prediction verifies in full. Capital has not returned, by either measure. The ETF ledger then shows how unusual this drought already is.
An Outflow Streak With No Precedent
SoSoValue monthly data frames the whole cycle. Inflows of $6.02 billion in July 2025 began the setup, and September and October added $3.53 billion and $3.42 billion as prices peaked at $126,210.
Then the funds flipped. November through February printed four straight red months, the longest monthly outflow streak since the products launched, against a single two-month streak in February and March 2025. November alone bled a record $3.48 billion.
May reopened the wound with $2.43 billion out, the worst month of 2026, and June has already shed $1.89 billion in just 10 days, nearly 80% of May’s total.
During the outflow era, fund assets nearly halved from $147.73 billion to $77.58 billion, while prices halved from the record high to $62,000.
The dates further strengthen the Wintermute crypto prediction.
Rekt Capital called the October 2025 top in June 2024 using halving-cycle timing, and October proved to be the final month of meaningful inflows. His late-November macro triangle breakdown landed on the streak’s worst month.
His forward math is where the scenario sharpens.
The Verdict on the Wintermute Crypto Prediction
In an interview with BeInCrypto, the analyst capped this year’s upside at the falling macro downtrend, the series of lower highs running since October.
“The mid-80s would probably be the top for this year, provided we don’t break the macro downtrend,” said Rekt Capital.
The pivot that changes everything is a sustained break above $82,500.
His floor runs deeper than current prices.
“This bear market should see a retracement of some 60% to 70%, which would mean we go sub-50 into the 40s, and that should be taking place in Q4 of this year,” he told BeInCrypto.
BeInCrypto’s projection highlights similar levels. Keeping the mid-January to early-May swing in play, a potential bottom for BTC comes at $44,627. That would be a 64% retracement from BTC’s peak.
The peak to breaking the bearish pattern lies around $82,824, aligning perfectly with Rekt Capital’s $82,500 pivot.
So, how true is Wintermute’s crypto prediction? The answer lands in three parts.
The flow claims verify in full, from the record streak to the drained reserves. The dismissal of the Strategy sale underplays a 92% collapse in Bitcoin sentiment that the desk can document.
And the one bullish crack is real, since long-term holder wallets keep absorbing coins even as their pace thins considerably.
However, weakening accumulation is what keeps Wintermute’s bearish case alive.
Wintermute named its own test in the SpaceX listing on June 12, and Rekt Capital named its at $82,500. Either one of those triggers breaks the pattern, or the flow math and the cycle math keep pointing at the same sub-$50,000 zone.
His ceiling stretches further out. Every cycle forms a three-year resistance that breaks only in the halving year, and this cycle’s level is $93,000. That makes $93,000 his absolute maximum for 2027, with new record highs unlikely before 2028.
The post Wintermute Suggests a Scary Crypto Market Scenario: How True Is It? appeared first on BeInCrypto.
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.
Summary
- The European Commission has proposed sanctions on 20 non-EU entities, including crypto platforms accused of helping Russia bypass existing restrictions.
- New measures could introduce the EU’s first country-level ban on crypto services from jurisdictions hosting platforms linked to sanctions evasion.
- Chainalysis reported $93.3 billion in transaction volume tied to the ruble-backed stablecoin A7A5, a network cited in growing scrutiny of Russia-linked crypto activity.
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.
The initial public offering of Elon Musk’s SpaceX has reportedly seen an oversubscription rate running at almost four times the planned offering size, with some analysts suggesting it could be squeezing liquidity from the market.
SpaceX’s IPO (SPCX) has attracted over $250 billion in investor demand, far exceeding the $75 billion it is seeking to raise in what would be the largest public offering ever, with the firm valued at $1.8 trillion, Reuters reported.
Bankers and investors say it is the latest sign that demand is strong, as long-only funds have put in “sizable orders,” according to the sources.
Pricing is expected on Thursday, though demand figures can still shift before then, as some large institutional investors tend to submit orders late in the process.
Tech stocks tumble in IPO hype rotation
The IPO comes at a time of extreme volatility in markets, with US tech stocks tumbling and crypto markets shedding more than $180 billion over the past week.
Some analysts have speculated that the market retreat could be partially driven by selling to raise funds for the SpaceX IPO.
“I’m seeing this exactly as the classic pre-mega-IPO liquidity squeeze playing out in real time,” Bitrue Research Institute research lead Andri Fauzan Adziima told Cointelegraph.
“The tanking in crypto and tech stocks right now isn’t random, it’s the direct ‘IPO tax’ from SpaceX’s record-breaking deal, with pricing tomorrow and trading Friday at $135 for a $1.8 trillion valuation,” he said.
“Oversubscription with massive orders confirms the hype, but that excitement is sucking liquidity out of correlated risk assets today, hitting crypto hardest because it’s the most retail-driven and sentiment-tied to growth/tech narratives.”
This isn’t the start of a broader bear market, it’s a “temporary rotation,” he said.
Tech stocks take a hit (five-day) ahead of SpaceX IPO. Source: Barchart
Crypto exchanges rush to offer pre-IPO perps
SpaceX’s growth story is largely tied to its satellite internet business, Starlink, which has become a major source of revenue and profitability. The firm has also touted a $23 trillion market opportunity it claims is ahead for its artificial intelligence offerings.
Related: SpaceX IPO: ‘Bad news’ for tech stocks but what about Bitcoin?
Crypto exchanges have been quick to capitalize on the IPO hype, with Binance, Coinbase, Kraken and Bybit launching pre‑IPO perpetual futures for SPCX this month.
Shunyet Jan, head of spot and derivatives at Binance, told Cointelegraph that the strong early traction for Binance’s pre-IPO perpetual futures “reflects growing user interest in gaining regulated-style market exposure to high-profile private companies through this native product.”
Since launch, the products have generated $2.1 billion in cumulative trading volume in just 18 days on Binance, with participation spanning more than 130 countries.
Meanwhile, decentralized exchange Hyperliquid has seen $70 million in trading volume over the past 24 hours, with the current price for its synthetic SpaceX pre-IPO perps at $157, down from $210 when the derivatives launched, according to Hyperdash.
This indicates strong demand with open interest (OI) exceeding $115 million on Hyperliquid alone, and a current prediction of a $1.97 trillion SpaceX valuation.
Magazine: Vietnam preps crypto pilot, HK pushes tokenization: Asia Express
XRP perpetual futures have started trading on Kalshi, giving U.S. users access to leveraged XRP price exposure.
Summary
- Kalshi now offers XRP perpetual futures to U.S. traders through its CFTC-regulated derivatives exchange platform.
- The cash-settled contract uses CF Benchmarks pricing and remains open without a fixed expiration date.
- Kalshi’s crypto perpetual volume passed $1 billion within one week, showing strong early trader demand.
The cash-settled contract trades under the XRPPERP ticker and has no fixed expiration date.
The launch expands Kalshi’s crypto derivatives offering beyond Bitcoin and Ethereum. It also moves XRP into a regulated market long dominated by offshore exchanges.
XRP contract tracks a regulated price benchmark
Kalshi’s support page lists XRP among 13 crypto assets available through its perpetual futures service. One full XRPPERP contract represents 10,000 XRP, while the minimum order equals one XRP.
The product uses the CME CF XRP-Dollar Real Time Index. Kalshi uses that reference rate for funding and settlement.
Perpetual futures stay open without a maturity date. Regular funding payments help keep the contract price close to the underlying XRP spot market.
Kalshi used the CFTC self-certification route
Kalshi filed the XRP contract with the Commodity Futures Trading Commission on June 1 under Regulation 40.2(a). The filing self-certified XRPPERP for listing after the close of business that day.
That process differs from the formal review route used for Kalshi’s Bitcoin perpetual contract. Kalshi remains a CFTC-registered designated contract market, and XRPPERP trades within that regulated exchange structure.
The filing says the market includes customer identity checks, trade monitoring, risk-based margin and central clearing. Kalshi can also apply price bands, order limits and position controls.
Early demand supports Kalshi’s crypto expansion
Kalshi’s broader perpetual futures rollout recorded more than $100 million in volume during its first 24 hours. Reported cumulative volume later passed $1 billion within the opening week.
The XRP launch follows Bitcoin and Ethereum products introduced earlier in June. As crypto.news reported on June 4, XRP and several other altcoin contracts were still awaiting clearance. Kalshi’s updated product pages now show XRP, Solana, Dogecoin and other assets as available.
Kalshi has also filed for a perpetual contract tied to Hyperliquid’s HYPE token. The expansion places it in competition with Coinbase, Kraken and offshore derivatives exchanges.
Perpetual futures widen access but add risk
XRP perpetual futures let traders take long or short positions without owning the token. They can also hold positions without repeatedly moving into new dated contracts.
However, leverage can increase both gains and losses. Funding payments may raise the cost of keeping a position open, while sudden price moves can trigger forced liquidation.
CME Group chief Terry Duffy has warned that U.S. crypto perpetuals may expose retail traders to risks they do not fully understand. Kalshi states that leverage limits can vary by asset and advises users to check each market before trading.
The leading meme coin was not spared from the market-wide calamity at the end of the previous business week, and its subsequent recovery is yet to impress.
However, this has allowed large investors to accumulate at lower prices. Santiment data shared by popular analyst Ali Martinez shows that the so-called whales have acquired over 200 million tokens in the past week alone.
The graph below demonstrates that their DOGE holdings kept increasing in the past several days, hitting 18.84 billion coins.
Over the past week alone, whales have accumulated more than 200 million Dogecoin $DOGE. https://t.co/PZF6Vdi85j pic.twitter.com/FW7XZig7YG
— Ali Charts (@alicharts) June 10, 2026
As mentioned above, DOGE was swept last week, especially on Friday, dipping below $0.08 for the first time since February 2025. Despite recovering slightly to $0.084 as of press time, the OG meme coin remains highly depressed, at 89% away from its May 2021 all-time high.
Martinez also warned recently that DOGE could be on the verge of a more profound decline if certain metrics align. As reported, he noted that the meme coin’s price action has followed multi-year consolidation channels, where it has repeatedly moved through extended ranges that compress volatility and redistribute supply before larger cycles begin.
Citing several on-chain metrics, he explained that DOGE could drop to $0.058 if the $0.081 floor gives in.
Meanwhile, data from SoSoValue clearly shows that ETF investors have not expressed any interest in the largest meme coin. More specifically, there has been only one day of actual inflows since May 19: all the rest have seen no reportable action.
The three funds tracking the asset’s performance have attracted a very modest $12.44 million since their inception in late November 2025.
The post Dogecoin Whales Buy the Dip as DOGE Hit 14-Month Low appeared first on CryptoPotato.
Taylor Hornby, a security researcher who works with Shielded Labs, discovered a bug on May 29, 2026 – just one day after Anthropic released Opus 4.8- that resulted in billions of dollars removed from the project’s market capitalization.
The flaw affected a shielded pool within the protocol’s design that powered private Zcash transactions, and was serious enough to trigger an emergency response across the entire ecosystem. It resulted in a sudden sell-off that saw ZEC’s price crash by roughly 60%, thereby erasing more than $4 billion in market cap.
The short version of the story is relatively simple: a missing constraint in Zcash’s Orchard circuit could have allowed a malicious prover to spend the same shielded note many times over while producing different nullifiers. In practice, this means an attacker could have inflated ZEC within the Orchard pool without leaving an on-chain fingerprint.
The scary part is that this bug has existed since Orchard went live, and this happened in May 2022. Therefore, the total exposure window lasted for around four years, before it was ultimately patched shortly after Hornby discovered it.
AI Helped Find The Critical Vulnerability
This story isn’t just about the flaw, but the way it was found.
Hornby said he used a custom “zcash-full-stack-auditor” agent framework with Claude Opus 4.8. It was designed to work at maximum effort and was pointed at the halo2 implementation, including the Orchard circuit. The AI was searching for soundness and zero-knowledge security issues.
The researcher reported that around 6 p.m. on May 29, one of the audit agents flagged a vulnerability that it believed could be used to double-spend Orchard notes. Hornby then used Claude to help write proof-of-concept code against a similar circuit, before testing the issue against the real Orchard circuit.
Testing the Exploit with Claude
Hornby later built a full test in Zcash’s local regtest mode, where the exploit doubled the value of an Orchard note until the test wallet balance exceeded 10 million ZEC. These transactions were never broadcast to mainnet or testnet, of course, but the test itself was significant because regtest applies the exact same validation rules, meaning that it could have been done on mainnet with the same degree of success.
Per the official disclosure, the full PoC took roughly six hours to develop using Claude Code’s help. Hornby said the model needed relatively little guidance beyond a few hints.
Of course, it’s important to understand that this doesn’t mean that AI independently “hacked Zcash.”
Taylor Hornby is a renowned specialist security researcher. That audit was targeted, and the tools were custom-built.
Still, the case shows how some frontier AI models are beginning to significantly reduce the time required to investigate highly complex, technical systems.
The post How One Guy Used Claude Code to Discover a Billion-Dollar Bug appeared first on CryptoPotato.
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