Live Feed

In a report titled "DeFi App: Between Robinhood and DeFi," Asian Web3 research and consulting firm Tiger Research stated that despite advanced financial infrastructure, the DeFi market's path to mass adoption is hindered by a complex user experience and low retention. The firm noted that DeFi App (HOME) is lowering the barrier to entry by eliminating friction points such as gas fees and bridging, while integrating swaps, deposits, and derivatives into a single interface. Additionally, the platform has built a model connecting its growth with on-chain demand through "Rocket Perps" and a HOME token buyback mechanism. While existing DeFi applications have succeeded in lowering technical barriers, they have shown limitations in retaining users after incentive programs end. The report concluded that if DeFi App successfully retains users and builds trust, it could establish itself as a leading platform in a niche that Robinhood has not yet entered.

Prominent Bitcoin critic Peter Schiff, CEO of Euro Pacific Capital, has predicted that Tether's (USDT) market capitalization will soon surpass that of Ethereum (ETH) and eventually overtake Bitcoin (BTC). According to crypto news service BSCN, he commented that the question is not if Tether will flip Bitcoin, but when. Schiff also added that BTC has found short-term support around the $61,000 level.

Coinbase has frozen over $3 million in cryptocurrency linked to a Southeast Asian-based fraud organization, Cointelegraph reported. The action was part of an operation dubbed "Disruption Week," led by the U.S. Department of Justice's (DOJ) Scam Center Strike Force. The effort involved collaboration with Meta, Microsoft, and Starlink, as well as the U.S. Federal Bureau of Investigation (FBI), the U.S. Secret Service, and law enforcement agencies from the UK, Australia, Canada, New Zealand, and Thailand. Through this joint operation, over 1.4 million social media and email accounts were blocked, and Thai police have reportedly arrested a suspect in connection with the case.

U.S. spot Bitcoin ETFs recorded $396.6 million in net outflows on June 3, marking the 13th consecutive trading day of withdrawals, according to data from Farside Investors. - BlackRock's IBIT: -$342.3 million - Fidelity's FBTC: -$54.3 million

Taiwanese celebrity Jeffrey Huang, also known as Machi Big Brother, opened a new long position of 1,775 ETH, worth $3.17 million, about an hour ago, The Blockbeats reported. The position has an entry price of $1,811 and a liquidation price of $1,762. This move comes after Huang was liquidated seven additional times over the past two days.

U.S. spot Ethereum ETFs recorded a net outflow of approximately $52.91 million on June 3, marking the 17th consecutive trading day of outflows, according to data compiled by Trader T. - BlackRock's ETHA: -$51.58 million - Fidelity's FETH: -$1.35 million

Bybit has announced the listing of perpetual futures contracts for Samsung Electronics, SK Hynix, and Hyundai Motor. The new offerings will support up to 20x leverage. Trading will be restricted for users in certain regions, the exchange noted.

According to CoinNess market monitoring, BTC has risen above $64,000. BTC is trading at $64,020.16 on the Binance USDT market.

DDC Enterprise, an e-commerce company listed on the New York Stock Exchange, announced it has purchased an additional 90 bitcoins. This brings the company's total Bitcoin holdings to 2,804 BTC.

According to Lookonchain, 7 Siblings, an entity known for buying ETH during price dips, borrowed 10 million USDT from Cow Protocol an hour ago to purchase 5,589 ETH at an average price of $1,789.

The U.S. Commodity Futures Trading Commission (CFTC) has scrapped its 'no-deny' policy, which barred defendants from publicly denying allegations as a condition of settling cases, Cointelegraph reported. Introduced in 1998, the policy allowed for settlements only if the defendant agreed not to publicly contradict the CFTC's claims. CFTC Chairman Mike Selig explained that for nearly 30 years, the agency would only settle cases if defendants promised not to publicly deny the charges, adding that the policy was being eliminated to align with the regulatory approaches of other government agencies. The CFTC stated that the move will provide greater flexibility in settling enforcement actions. While the agency will no longer enforce the no-deny provision in existing agreements, it may still require defendants to admit to certain facts or legal responsibilities in specific cases.

Prominent trader Serenity (@aleabitoreddit) announced on X that he purchased BlackRock's IBIT and ETHA when Bitcoin was at $62,187 and Ethereum was at $1,755. He noted that this was not intended as a long-term hold, stating that while the crypto market downturn is negatively impacting stocks like Robinhood (HOOD) and Coinbase (COIN), the valuations of these crypto-related equities have become attractive from a swing trading perspective. Serenity suggested that talk of a crypto-friendly administration and strategic reserves appears to have been unfounded and viewed the push for the CLARITY Act as a negative development influenced by banking lobbies. Serenity has 578,000 followers on X and has recently gained attention in the global trading community for verifying returns in the thousands of percent.

According to CoinNess market monitoring, BTC has risen above $63,000. BTC is trading at $63,026.88 on the Binance USDT market.

Ethereum finance firm FG Nexus transferred 10,000 ETH, worth approximately $18.16 million, to Galaxy Digital about four hours ago, according to on-chain analysis firm EmberCN. The firm suggested the move was likely in preparation for a sale. EmberCN noted that FG Nexus originally invested around $200 million to purchase 50,600 ETH at an average price of $3,940 during a buying craze last August and September. Amid subsequent price declines, the firm began reducing its holdings in November. To date, it has sold a total of 38,300 ETH for $89.17 million at an average price of $2,329, resulting in an estimated total loss of $88.83 million.

An address believed to belong to Russell Verbeeten, Managing Director of Consensys Canada, withdrew 20,426 ETH ($37.26 million) from Aave and distributed the funds across 10 new addresses yesterday, according to on-chain analyst ai_9684xtpa. One of these addresses later deposited 4,144 ETH to the cryptocurrency exchange Coinsquare. The remaining ETH has shown no signs of further movement or selling.

Major exchanges have seen $626 million worth of futures liquidated in the past hour. In the past 24 hours, $1,734 million worth of futures have been liquidated.

Major exchanges have seen $495 million worth of futures liquidated in the past hour. In the past 24 hours, $1,604 million worth of futures have been liquidated.

Solana (SOL) briefly dropped below the 100,000 won mark for KRW trading on the South Korean exchange Upbit. This marks the first time the cryptocurrency has fallen to this level in 897 days, since Dec. 20, 2023. SOL is currently trading at 100,800 won, down 4.99% from yesterday.

Drift (DRIFT), which suffered a hack of approximately $295 million in April, has announced plans to rebrand as a Solana-based perpetual futures exchange. The company stated that it will rebrand as a USDT-based perpetual futures trading platform, with all resulting revenue to be used to support a dedicated fund for user compensation. To bolster platform security, Drift has appointed Noah Prince, former engineering lead at Helium Protocol, as its new Protocol Lead. Team members from Gauntlet, a firm specializing in decentralized finance modeling and research, will also provide technical support. Drift explained that it plans to relaunch the platform with security as a core value and will release details of its user compensation plan at a later date.

According to CoinNess market monitoring, BTC has fallen below $62,000. BTC is trading at $61,993.89 on the Binance USDT market.

According to on-chain data, a whale address that had been inactive for about four months purchased 5,589 ETH at an average price of $1,789 after borrowing 10 million USDT. The address now holds a total of 82,754 ETH, valued at approximately $147.3 million. Onchain Lens noted that the whale appears to have made the large-scale purchase during the recent decline in ETH's price.

MicroStrategy's (MSTR) unrealized loss on its Bitcoin holdings has surpassed $2.87 billion. According to data from the analytics platform deathspiral, the company's unrealized BTC loss currently stands at approximately $2.878 billion. According to CoinMarketCap, BTC is trading at $62,167.77, down 3.08% over the past 24 hours.

Noted Bitcoin skeptic and gold bull Peter Schiff said on X that investors in MicroStrategy's (MSTR) preferred stock, STRC, will ultimately lose most of their investment. He predicted that the STRC price will collapse when Michael Saylor is forced to suspend dividend payments. Schiff added that this could be followed by lawsuits from investors claiming significant losses due to deceptive advertising, potentially creating legal liability for MicroStrategy.

Bitwise CEO Hunter Horsley said on X that if SpaceX were to go public, its valuation could be comparable to the total market capitalization of the entire cryptocurrency market, excluding stablecoins. He added that this illustrates the crypto market is still in its early stages and its overall size is smaller than many might think. Horsley emphasized that the market's focus should be on creating products and services that generate real value, rather than on competition between specific assets or projects. Ultimately, he noted, expanding the real-world use of blockchain technology is what is important.

Decentralized prediction market Polymarket has accused competitor Kalshi of industrial espionage, the New York Post reported. Polymarket stated that Kalshi had prior knowledge of its product launch schedules and marketing strategies, allowing it to release similar services in quick succession. The company added that it is currently investigating the matter. Polymarket pointed to instances in February when Kalshi unveiled projects similar to its own free grocery event and the launch of a perpetual futures trading product. Some sources also suggested the possibility of office surveillance, noting that Kalshi investor Paradigm has an office across the street from Polymarket's headquarters in SoHo, New York. In response, Kalshi has completely denied the allegations, describing them as delusional.