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On-chain analyst ZachXBT has pointed out that the LAB token, already under suspicion for price manipulation, continues to be manipulated on major centralized exchanges (CEX) through market makers. He expressed disappointment that major exchanges are allowing the situation to persist. ZachXBT warned of the potential consequences when locked LAB tokens from over-the-counter (OTC) deals, private sales, and airdrops enter the market, noting that insiders control the vast majority of the circulating supply. He explained that retail investors might be misled into buying LAB, mistakenly believing it to be a safe investment due to its listings on major exchanges, appearance on trending lists, and high market capitalization. He reiterated his advice against trading such tokens. Previously, Moonrock Capital founder Simon Dedic called LAB a "clear scam" and accused exchanges like Gate.io, KuCoin, and Bitget of facilitating the price manipulation. ZachXBT has also previously offered a $10,000 bounty for information on the matter and called on Bitget, Binance, and Gate.io to freeze insider profits for redistribution to investors and to delist the token.

Iran's Foreign Ministry issued a statement on June 1, accusing the U.S. and Israel of continuously violating ceasefire agreements. The ministry stated that Iran will use all its capabilities to defend its interests if necessary. The statement reaffirmed existing ceasefire deals, including the one in Lebanon signed on April 8, and emphasized that a breach on any front would be considered a violation of the entire agreement. It also noted that the U.S. is responsible not only for its own violations but also for Israel's related actions. Iran asserted it would mobilize all its resources if required, based on its right to self-defense under international law.

Decentralized derivatives exchange EdgeX announced on its official X account that it is actively investigating the cause of a sudden and abnormal price fluctuation in its native token, EDGE. The team added that it will provide an update as soon as confirmed information is available and urged the community to be cautious of unverified speculation. The statement follows a sharp drop of around 70% in the token's price, which began at approximately 9:00 p.m. UTC on June 1. The price crash led to unconfirmed rumors within the community, including speculation about the EdgeX team dumping tokens or shutting down the project. After falling below $0.4 during the crash, EDGE has since partially recovered and is currently trading at around $0.64.

U.S. President Donald Trump fiercely criticized Israeli Prime Minister Benjamin Netanyahu in a phone call on June 1, using profanity to condemn Israel's military escalation in Lebanon, Axios reported, citing two U.S. officials and another source. The call took place on the same day Iran had threatened to suspend negotiations with the United States. According to the sources, Trump described Netanyahu as crazy and ungrateful, and halted Israel's plans for airstrikes on Beirut. Trump warned that threatening to bomb the Lebanese capital would further isolate Israel on the world stage and claimed to have saved Netanyahu from prison during his corruption trial. The U.S. officials summarized Trump's remarks as telling Netanyahu that he was crazy, would be in jail if not for Trump's intervention, and that everyone now hates both Netanyahu and Israel because of the situation. Another source said Trump was extremely angry and yelled at Netanyahu, asking what he was doing. The report noted, however, that Trump had recently thanked Netanyahu in a social media post.

EDGE, the native token of decentralized derivatives exchange EdgeX, plunged by about 70% in a sharp sell-off, according to CoinNess market monitoring. The decline, which began after 9:00 p.m. UTC on June 1, saw the token fall as much as 70.29% to a low of $0.3294 on OKX, dropping below the $0.4 mark. EDGE has since recovered slightly and is currently trading at around $0.4724.

U.S. President Donald Trump said on June 1 that he expects to reach an agreement with Iran within the next week to extend a ceasefire and reopen the Strait of Hormuz, ABC News reported. Trump stated that negotiations are proceeding smoothly and look promising. He mentioned that a "small incident" occurred today but was quickly brought under control. The president explained the incident stemmed from Iranian dissatisfaction with an Israeli airstrike on Lebanon. He said he contacted Lebanon's Hezbollah to demand a halt to the firing and then made the same request to Israeli Prime Minister Netanyahu, resulting in both sides ceasing fire. Trump commented that a peace agreement with Iran could be a "better outcome than a military victory." Regarding the memorandum of understanding (MOU) to reopen the strait, he projected it would be finalized within a week but added that it has not yet been officially signed as "some key details need to be finalized."

Federally regulated U.S. crypto bank Anchorage Digital has launched a platform that allows institutional investors to trade without pre-depositing assets on exchanges. The solution, called Multilateral Settlement Coordination (CMS), aims to address the long-standing industry practice of pre-funding. Traditionally, a single offshore exchange would handle trading, custody, and settlement, creating risks of asset commingling and bankruptcy. Under the new model, Anchorage exclusively handles custody and settlement to enhance stability. The first partner for the platform is the major foreign exchange trading platform Spotex.

Bill Zanker, the operator of the official President Trump memecoin, has launched the 'Trump Coin Club' in an effort to retain its largest investors, Decrypt reported. As its first perk, the club is offering 19 of its top holders luxury accommodations in New York and access to a private suite for the World Cup final. The move comes as the coin has fallen more than 97% from its peak last year, with its current market capitalization at around $2 billion. The coin's operators plan to host quarterly global events to maintain holder loyalty. Attendees will be required to pass a background check conducted by the U.S. Secret Service, and individuals from sanctioned countries will be ineligible to participate.

MicroStrategy's announcement that it sold a portion of its Bitcoin for the first time since 2022 has thrown a Polymarket prediction market into chaos, according to Decrypt. The dispute, which involves a pot exceeding $50 million, arose because the actual sale occurred before the May 31 deadline, but the official announcement came on June 1, after the market had expired. This has led to conflicting interpretations between "Yes" and "No" bettors. Polymarket has since added a clause suggesting it favors the "No" outcome, stating that facts not confirmed by on-chain data or credible reporting within the deadline are not recognized. "Yes" investors have strongly protested, calling the move a clear breach of contract. The final decision will now be determined by a vote among UMA token holders, the oracle underlying the Polymarket platform.

The three major U.S. stock indices all closed at new record highs on Monday. The Dow Jones Industrial Average rose 0.09%, the S&P 500 gained 0.26%, and the Nasdaq Composite was up 0.4%. Among individual stocks, Nvidia (NVDA) climbed 6% and Oracle (ORCL) surged by about 10%, while Qualcomm (QCOM) dropped by approximately 9%. Tesla (TSLA) also fell 4.5%.

U.S. prediction market platform Kalshi has applied to the Commodity Futures Trading Commission (CFTC) to list futures products for 12 altcoins, including Ethereum, Solana, and XRP, following the approval of Bitcoin perpetual futures. However, it is expected to take some time before trading can begin. The CFTC has clarified that, unlike Bitcoin, perpetual futures for other assets will be reviewed individually based on their specific characteristics. The agency warned that the perpetual futures structure may not be suitable for certain altcoins, citing concerns over thin liquidity and high volatility. The industry is now watching to see if this mass filing will pave the way for regulated altcoin derivatives in the U.S.

Israeli Prime Minister Netanyahu announced on June 1 that he spoke with President Trump by phone, warning that Israel will strike targets in Beirut if Hezbollah does not cease its attacks on Israeli cities and citizens. He added that Israel's position is firm and the Israel Defense Forces (IDF) will continue to carry out operations in southern Lebanon as planned.

Vitalik Buterin has expressed support for a proposal from U.S. Senator Bernie Sanders to nationalize a portion of major AI companies. Sanders argued that leading firms like OpenAI and xAI have accumulated wealth by training on humanity's collective knowledge without permission and proposed that 50% of their equity be collected as a one-time stock tax for a federal sovereign wealth fund. Buterin echoed this sentiment, stating that while frontier AI companies touted their contributions to humanity in the 2010s, they are now using China as an excuse to monopolize power. He added that these companies are securing monopolies while hiding behind the banners of security and nationalism.

Hezbollah has agreed to a U.S.-proposed mutual ceasefire, the Lebanese Presidential Office announced, according to Israeli media. The office stated that Hezbollah had conveyed its acceptance to Lebanese authorities.

Investment bank Compass Point has reaffirmed its "Sell" rating and $140 price target for Coinbase, arguing that the market outlook is bleak despite the company's recent U.S. CFTC approval for perpetual futures services through its subsidiary Deribit. The bank pointed to intensifying fee competition as both traditional finance and crypto firms, including Kalshi, CME, Kraken, and Robinhood, have announced their entry into the 24-hour perpetual futures market. Additionally, concerns about cannibalization were raised, as Coinbase's first-quarter futures revenue grew to $50 million while its more profitable retail spot revenue declined. Compass Point projected that if major overseas exchanges like Binance secure U.S. regulatory approval amid a pro-Trump environment, Coinbase's long-term market dominance and pricing power will be hit.

Whale Alert reported that 500 million XRP has been locked in escrow at Ripple.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Grayscale has submitted an amended S-1 registration application to the U.S. Securities and Exchange Commission (SEC) for its Hyperliquid Staking ETF (HYPG), The Block reported. The updated filing specifies a management fee of 0.29%, which is lower than similar funds from Bitwise (0.34%) and 21Shares (0.30%). Bloomberg analyst James Seyffart commented on X that the launch of Grayscale's ETF is imminent, predicting that trading could begin as early as this week.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

U.S. President Donald Trump announced on June 1 that Israel and Hezbollah have agreed to cease their mutual attacks. Trump stated that the U.S. will not send any troops to Beirut and has recalled all forces that were en route. He added that Washington had a good conversation with Hezbollah through a high-level representative, leading to an agreement to halt all firing. Under the terms, Israel will not attack Hezbollah, and Hezbollah will not attack Israel, the president said.

Asset management firm Strive (Nasdaq: ASST), which strategically accumulates Bitcoin, plans to expand its at-the-market (ATM) stock offering program by a total of $4.2 billion to fund additional BTC purchases, Wu Blockchain reported. The plan involves increasing the limits for its ASST and SATA shares by $2.1 billion each. The SATA stock operates on a model similar to MicroStrategy's (MSTR) STRC preferred shares, issuing new stock to purchase BTC whenever its price exceeds the $100 par value. Strive currently holds 16,500 BTC, valued at approximately $1.27 billion.

Iran's Foreign Ministry has stated that the United States bears direct responsibility for violating the ceasefire agreement with Iran. The ministry further asserted that the U.S. must also be held accountable for Israel's ceasefire violations in Lebanon.

Market experts are divided over the implications of a recent sale of 32 BTC by Strategy (MSTR), the largest publicly traded holder of Bitcoin, CoinDesk reported. Strategy previously announced it had sold the Bitcoin between May 26 and 31 at an average price of $77,135, securing approximately $2.5 million. The company stated the funds would be used to pay dividends on its preferred stock, STRC. The sale accounts for about 0.004% of its total holdings of 843,700 BTC. Lance Vitanza of TD Cowen commented that the sale is insignificant relative to the company's total assets and does not signal a change in its long-term Bitcoin accumulation strategy. Mark Palmer, an analyst at Benchmark, echoed this view, stating that Strategy is unlikely to use BTC sales as a primary means to fund dividends and will likely continue to raise capital through stock issuance. In contrast, Mark Connors, Chief Investment Officer at Risk Dimensions, analyzed that the sale demonstrates Strategy may prioritize the stability of its capital structure over its previous stance of never selling Bitcoin.

U.S. President Donald Trump said in an interview with NBC News that the U.S. will continue to maintain its blockade of the Strait of Hormuz.

Major exchanges have seen $111 million worth of futures liquidated in the past hour. In the past 24 hours, $629 million worth of futures have been liquidated.