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Glassnode Co-Founder: Bitcoin's Higher-Probability Bottom Zone Lies Between $46K and $54K
Glassnode co-founder Rafael said Bitcoin has entered a historical cycle valuation zone typically associated with market bottoms. Based on on-chain valuation models, the higher-probability bottom range lies between $46,000 and $54,000, spanning the CVDD and Realized Price levels. In an extreme capitulation scenario, a deeper support zone could sit between $35,000 and $40,000.
Rafael noted that Bitcoin drawdowns have become progressively shallower across market cycles, reducing the likelihood of a deeper decline. On the upside, the first key recovery zone sits between $75,000 and $79,000. He stressed that this is not a prediction, as Bitcoin bottoms cannot be identified with certainty in advance.

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CZ: What Would It Take for Aster to Beat Hyperliquid? (ARCHIVE FOOTAGE )
In an October 11, 2025 interview on the Threadguy channel, when asked what Aster needs to do to surpass Hyperliquid, Binance founder Changpeng Zhao (CZ) stated that the two are not simply competitors, but serve different use cases.
Hyperliquid is suited for "open, fully visible trading," while Aster is more open in privacy and native asset deposits, going beyond a BNB Chain-only Perp DEX.He noted both are relatively new, so the future remains uncertain and could shift to new entrants. "

Zooko Wilcox: Users Cannot Independently Verify Whether ZEC Supply Was Affected by Potential Exploitation of Orchard Vulnerability
Shielded Labs and other Zcash ecosystem participants have proposed the Ironwood network upgrade, acknowledging that users currently cannot independently verify whether ZEC’s circulating supply was affected by potential exploitation of the recently disclosed Orchard counterfeiting vulnerability. The team said it believes exploitation of the vulnerability is unlikely, but cannot conclusively rule it out.
The proposed upgrade would restore users’ ability to verify Zcash’s circulating supply through consensus rules by creating a new shielded pool and preventing the existing Orchard pool from creating new outputs. A timeline for deployment has not yet been determined.

ZachXBT Questions Arthur Hayes of Touting Tokens Before Selling
Following a post by Arthur Hayes stating that he had sold his WLD holdings and exited the position, on-chain investigator ZachXBT publicly questioned how much exit liquidity Hayes had generated from his followers over the past few days, adding that his trades in NEAR, HYPE, and ZEC followed a similar pattern.
In response, Hayes said he had simply made the right decision based on his trading objectives. ZachXBT then criticized the apparent inconsistency, arguing that Hayes had repeatedly expressed bullish views on WLD before quickly liquidating his position, making his actions difficult to reconcile.

1. Solana Foundation rolls out dedicated grant program to boost fully on-chain perpetual futures ecosystem link
The Solana Foundation announced support for developing fully on-chain perpetual contracts and other derivative applications on Solana with traffic, technical and financial resources. It stated hybrid architectures using off-chain matching are only transitional and full on-chain operation is the ultimate target. Six supporting principles are released: full on-chain execution of order placement, matching and settlement; genuine price discovery via two-way liquidity of order book or RFQ instead of pool pricing; Solana-first rule with structured revenue feedback to the public chain; incentives for architectural and network optimization innovation; priority for mature teams shifting to full on-chain frameworks; preferential funding for open-source teams with verifiable core logic.
2. Hyperliquid emerges as core weekend perps hub for Wall Street traders, hitting all-time-high perp trading share in May link
According to The Wall Street Journal, Hyperliquid has become a key venue for some Wall Street traders to trade perpetual contracts of crypto and traditional assets on weekends and off-market hours, with products covering BTC, S&P 500, crude oil and contracts linked to unlisted assets such as SpaceX, generating around $800 million in total revenue last year. The WSJ notes Hyperliquid blocks access for US residents, yet traders from restricted jurisdictions circumvent restrictions via VPN, while its robust community ecosystem and diversified asset lineup fuel expansion into prediction markets and options trading.
Data from The Block shows Hyperliquid’s May perpetual trading volume accounted for a record-high 6.63% of global centralized exchange aggregate volume and hit an all-time peak of 14.4% relative to Binance. Its HIP-3 framework underpinned the expansion, driving over $62 billion in monthly trading volume and roughly $3 billion in open interest in May. Even so, the report highlights Hyperliquid’s standalone crypto perpetual trading volume posted a notable year-on-year decline amid broad crypto market downturn.
3. Radiant Capital initiates phased orderly wind-down of all protocol operations link
Radiant Capital announced its DAO has no viable path for sustainable operations and will commence phased shutdown after failing to recover stolen funds, secure fresh financing or resume growth following an October 2024 exploit. Front-end interfaces and on-chain smart contracts remain functional for users to withdraw funds, settle loans and manage positions, yet all development, upgrades and expansion initiatives are halted alongside zeroed lending caps and terminated RDNT reward distributions. The team will focus on safeguarding user assets, pursuing fund recovery and facilitating orderly wind-down. The protocol suffered losses exceeding $50 million in the prior hack.
4. TON’s native token rebrands to Gram; underlying TON blockchain name stays unchanged link
Pavel Durov, founder of Telegram, announced the launch of a rebranding initiative across the TON ecosystem, renaming its native token from TON to Gram. The team noted Gram was the original native token name outlined in TON’s initial whitepaper, with the rename intended to return to the project’s founding vision and mark a new development phase for the ecosystem. The brand transition is set to roll out incrementally over roughly three weeks, with wallets, infrastructure and ecosystem applications updating the token designation sequentially. TON clarified the change only applies to the native token’s brand name, and the underlying blockchain will retain the official title The Open Network (TON) with no alterations.
5. Hacker launders nearly all $220M unfrozen funds from Kelp DAO bridge exploit, asset tracing window effectively closed link
On-chain tracking data confirms the Kelp DAO cross-chain bridge hacker, identified as North Korean hacking syndicate TraderTraitor, has laundered approximately $220 million in unfrozen stolen assets via privacy protocols including THORChain, Wasabi, Tornado Cash and Umbra. Merely around $1.7 million of funds remains parked in the hacker’s original wallet, practically shutting down the window for itemized tracing and direct recovery of unfrozen capital.
6. Sui confirms three consecutive mainnet outages stem from v1.72 upgrade code bugs link
Sui Foundation revealed three outages hitting the Sui mainnet last Thursday and Friday stemmed from two distinct bugs introduced in the v1.72 upgrade. The first two shutdowns originated from a gas calculation flaw within the address balances function. The emergency patch rolled out on Thursday carried a documented low-probability crash risk, which the team accepted to restore service promptly and triggered another outage on Friday. The third downtime emerged after validators rebooted to apply fixes, tied to a hidden bug governing the network’s stored randomness configuration. Sui confirmed all defects have been patched with no user funds compromised or finalized transactions reversed, alongside a newly built mechanism to forcibly terminate stuck epochs.
7. Polymarket suspects industrial espionage from Kalshi, citing excessive coincidences on parallel product launches link
Polymarket suspects rival Kalshi of corporate espionage and has compiled internal documentation dubbed “copycat” detailing roughly a dozen alleged instances of replicated or pre-emptively launched products, marketing campaigns and UI layouts. Matthew Modabber, Polymarket’s head of market operations, states the occurrences exceed coincidences, citing examples such as a free grocery pop-up event in New York and perpetual contract offerings. Kalshi refutes the accusations as delusional and commits to ongoing product development. Paradigm, an investor in Kalshi, also denies conducting surveillance on Polymarket’s premises.
8. Spark’s total deposits near $4.5B, notching successive all-time highs link
Per Blockworks statistics, total deposits on lending protocol Spark have neared $4.5 billion, hitting successive all-time highs, with over $1 billion in fresh inflows registered since late April’s rsETH incident. USDS now accounts for more than half of all funds parked on the platform.
9. Ondo Perps slated to launch equity perpetual contracts on June 9, 2026 link
Ondo Perps posted on X stating, “Perpetual contracts transformed global trading, and now they are set to enter the stock market,” previewing its official launch slated for June 9, 2026. Early access applications are currently open to a limited pool of eligible traders. The platform facilitates peer-to-peer perpetual contract trading and restricts service to end-users based in jurisdictions including the United States, Canada, the United Kingdom, the European Union and Panama.
10. Symbiotic launches Liquid Lane network enabling instant stablecoin redemptions for tokenized RWAs link
Backed by Paradigm, Pantera Capital and Coinbase Ventures, crypto infrastructure firm Symbiotic has rolled out Liquid Lane to resolve the lengthy redemption cycles plaguing real-world asset products including tokenized funds and private credit.
Symbiotic notes that while many tokenized holdings can be transferred on-chain instantaneously, investors may wait weeks or even up to 180 days to receive fiat cash from issuers via formal redemption channels. Powered by a request-for-quote mechanism, Liquid Lane routes investor exit orders to vetted market makers; the winning bidder pays out USDC to investors upfront and takes possession of the corresponding tokenized assets, with issuers wrapping up underlying settlement off-chain in the background.
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HTX Suspends WLFI and USD1 Trading, Converting All User USD1 to USDT After Freeze
HTX representatives stated that the team behind WLFI, the Trump family-backed crypto project, recently froze HTX-related on-chain addresses citing U.K. sanctions screening, without sufficient prior communication or providing a clear legal basis. As a result, certain WLFI tokens lawfully held by HTX users became restricted from circulation.
HTX announced emergency protective measures, formally suspending WLFI-related trading services as well as USD1 deposit and withdrawal services. The platform also forcibly converted all USD1 holdings into USDT and credited the converted funds to users' accounts. HTX emphasized that the affected addresses belong to platform users rather than sanctioned entities or the exchange itself, and called on the WLFI team to immediately unfreeze the addresses.

Researcher Who Found Zcash Bug with Opus 4.8 Adds Monero to His Audit Queue
Security engineer Taylor Hornby, who recently used Anthropic’s Claude Opus 4.8 AI model to uncover a critical vulnerability in Zcash, stated that he intends to add Monero (XMR) and other privacy-focused cryptocurrencies to his upcoming audit queue. On May 29, Hornby, commissioned by the non-profit developer Shielded Labs, discovered a severe soundness flaw hidden in Zcash's Orchard privacy pool since May 2022.

Haseeb Qureshi: Dragonfly Still Holds ZEC, and I'm Personally Invested in ZODL Amid Zcash Bug Concerns
Dragonfly partner Haseeb Qureshi said the recently patched Zcash bug would mainly have affected shielded ZEC holders, not transparent ZEC holders, if it had been exploited before the fix. He said nearly all ZEC market liquidity is in transparent ZEC, making newly minted counterfeit shielded ZEC difficult to sell on exchanges.
Qureshi added that the Zcash team plans to introduce a new turnstile and fresh shielded pool to confirm the old pool was not inflated, and noted that the shielded pool's share of supply fell only from 31% to 30% over the past 48 hours, suggesting no mass exit. He also disclosed that Dragonfly continues to hold ZEC, while he is personally an investor in ZODL.

Russian Central Bank: Non-Qualified Investors May Be Limited to Trading BTC, ETH and USDT
Russian Central Bank First Deputy Governor Vladimir Chistyukhin said the central bank plans to limit crypto assets available to non-professional and non-qualified investors to BTC, ETH and USDT, with no plans to expand the list for now. He said cryptocurrencies are high-risk and highly volatile instruments, while USDT wallets also carry the risk of being frozen by the issuer. Russia also plans to set an annual limit of about $4,100 for ordinary investors buying crypto assets through a single broker or exchange provider.

Cardano Founder: Cardano May See More DeFi Shutdowns in 2026
Cardano founder Charles Hoskinson said that more DeFi applications on Cardano may shut down in the second half of 2026, following TapTools' decision to wind down operations. Hoskinson said Cardano's challenges stem from commercialization, ecosystem funding and governance issues, adding that he does not control the treasury, governance keys or protocol parameters and cannot unilaterally force changes.
He also floated an "extreme option": launching a new Cardano through proof of burn if the existing ecosystem cannot change, in order to reset tokenomics and institutional funding mechanisms.

Alex Thorn: CLARITY Act's 2026 Passage Odds Fall to 60% as Senate Calendar Tightens
Galaxy Research head Alex Thorn said he has lowered his estimated odds of the U.S. CLARITY Act passing in 2026 from 75% to 60%, citing a tighter Senate calendar.
Thorn said the schedule remains one of the biggest hurdles for the crypto market structure bill, with next week likely dominated by FISA-related issues after a failed reauthorization vote. He also noted limited progress on unresolved issues such as lawmaker ethics rules and illicit finance provisions.

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Adam Back: Is Satoshi's Electronic Cash Vision Dead？
On June 2, 2026, at the Proof of Talk conference, Bitcoin OG Adam Back believes that the evolutionary paths of retail adoption and asset investment coexist.
He states that in emerging markets with high inflation, Bitcoin is still widely used for retail payments and remittances, whereas in the developed world, it is more commonly treated as an investment asset. Enabling the public to gain financial benefits through structured products like ETFs is an inevitable part of the adoption process.

CoinShares: Professional Bitcoin Holdings Fell to 261K BTC in Q1, With Hedge Funds and Brokers Driving 95% of the Reduction
According to CoinShares' 13F analysis, professional investors' Bitcoin holdings fell from 313K BTC to 261K BTC in Q1 2026, a 17% quarter-on-quarter decline. 13F filers reduced their exposure by about 52.5K BTC, with hedge funds and brokerages accounting for roughly 95% of the reduction; hedge fund holdings fell 39%, while broker holdings declined 53%. By contrast, banks increased their total holdings to 15.2K BTC, with JPMorgan and Wells Fargo adding exposure and Citi disclosing its first BTC position.

According to Binance market data, BTC fell below the $60,000 level and is currently trading at $59,352.01, down 7.10% on the day, after hitting an intraday low of $59,141.00. ETH is trading at $1,554.97, down 1.79% over the past 24 hours, after touching a low of $1,543.33. Meanwhile, CoinGlass data shows that approximately $462.52 million in crypto derivatives positions were liquidated across the market over the past four hours, including $393.31 million in long liquidations and $69.21 million in short liquidations.

SEC Developing Framework for Tokenized Securities Trading Under “Innovation Without Arbitrage” Principle
SEC Trading and Markets Director Jamie Selway said the agency is developing a framework for the listing and trading of tokenized securities under the principle of “Innovation Without Arbitrage.” He also said the SEC and CFTC are coordinating on rules for derivatives and evaluating new products, including perpetual futures, while seeking to prevent regulatory arbitrage and excessive retail leverage.

Strategy Down $12.8B, Bitmine Down $10.3B, HYPE Treasury Stands Alone in Profit
Artemis data shows Strategy and Bitmine, the largest Bitcoin and Ethereum treasury companies, are carrying unrealized losses of about $12.8 billion and $10.3 billion, respectively. Hyperliquid Strategies is currently the only major digital asset treasury company still in positive territory, with approximately $1.2 billion in unrealized gains.

DWF Ventures highlighted Nous Research’s open-source AI agent framework Hermes, arguing that most AI agents remain fundamentally stateless, losing context and learned experience after each session. Hermes addresses this through persistent memory, an automated Skills system, user profiles, and a self-improvement loop that continuously accumulates and refines knowledge. The report also noted Hermes’ security architecture, including credential isolation, secret redaction, and automatic key rotation, as well as its integration with Nous’ decentralized training network Psyche. DWF said Hermes’ key differentiator versus Claude Code, OpenAI Codex, and similar agents is its ability to compound capabilities over time through continuous learning.

WuBlockchain Weekly: Strategy Makes First BTC Sale, Hayes Sells HYPE Holdings, Binance Launches Tokenized US Stocks, BitMine Adds 26,497 ETH, US Explores Strategic Bitcoin Reserve Prudently, CME Goes Live With 24/7 Crypto Futures & Options. For the complete article and weekly curated reports, subscribe to our Substack:

Deribit Executive: Bitcoin Break Below $60K Could Trigger Liquidations
CoinDesk reported that Deribit Chief Commercial Officer Jean-David Péquignot said $60,000 is a key Bitcoin level, with more than $1.2 billion in notional open interest tied to put options at that strike on Deribit. He noted that a move below $60,000 could force market makers to hedge short gamma exposure by selling spot or futures, while elevated leverage may trigger a cascade of long liquidations.