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South Korean crypto exchange Bithumb has announced it will temporarily suspend deposits and withdrawals for Hedera (HBAR) starting at 10:00 a.m. UTC on June 10 due to a network (mainnet) upgrade.

In response to the recent discovery of an Orchard bug that could have allowed for the infinite minting of Zcash (ZEC), Josh Swihart, CEO of the Zcash development lab, stated that the vulnerability was not a flaw in the underlying cryptographic technology or its proof-generation engine. On his X account, Swihart explained that the Orchard vulnerability was located in a specific rulebook that was "loosely written, which made fake transactions possible." He stressed the importance of preventing such vulnerabilities from recurring, adding that the best solution is "Formal verification." Swihart also noted that multiple teams are currently working to verify Orchard's existing circuits.

Prediction market platform Kalshi is developing a professional trading interface modeled on the Bloomberg Terminal to attract more institutional investors. According to Crypto Briefing, the new interface will allow traders to more easily manage multiple event contract positions and access real-time trading data. Kalshi is currently alpha testing the interface with a select group of traders.

U.S. Ethereum spot ETFs saw a net inflow of $18.87 million on June 4, marking the first such inflow after 17 consecutive trading days of net outflows, according to data compiled by Trader T. - BlackRock ETHA: +$19.26 million - BlackRock Staking ETHB: -$390,000

The hacker behind the Gravity Bridge exploit has deposited an additional 1,180 ETH, worth $2.06 million, into the crypto mixer Tornado Cash, CertiK reported. According to the blockchain security firm, this brings the total amount sent to Tornado Cash to 2,020 ETH, funneled through two externally owned accounts (EOAs). The funds are part of the 2,600 ETH, valued at $5.4 million at the time of the hack, stolen from the protocol. The remaining stolen assets have been distributed to multiple centralized exchanges (CEXs).

Prediction market platform Kalshi has appointed Dani Lever as its Head of Communications. Lever, who previously worked in the New York Governor's office and at Meta, announced the move on X.

Forward Industries, which has been strategically accumulating Solana (SOL), deposited 455,784 SOL to Coinbase Prime, Lookonchain reported. The deposit is worth $31.87 million. Exchange deposits are typically considered a potential precursor to selling.

Curve (CRV) founder Michael Egorov said on X that while pessimism is spreading in the crypto market due to the surge in AI stocks, the industry should focus on its intrinsic values of guaranteeing individual sovereignty and providing an uninterrupted financial network. He stated that cryptocurrency is not a temporary trend or a toy, arguing that market fundamentals are stronger than ever, as large financial institutions are actively adopting crypto systems that operate without intermediaries. In contrast, Egorov suggested that AI technology could face a period of structural stagnation with declining quality and rising costs. He emphasized that crypto and AI are not competitors but independent future technologies, and that cryptocurrency will become the core infrastructure driving the future of finance, regardless of short-term market price movements.

Justin Bons, co-founder of European crypto investment fund Cyber Capital, has urged the community to refrain from overreacting to a recently discovered bug in Zcash (ZEC). The bug, found in the Orchard protocol, could have allowed for the infinite duplication of the cryptocurrency. Writing on X, Bons stated that Zcash has already fixed the bug and that people should stop panicking. He noted the important thing is that the issue was discovered by "the good guys" first, and he praised the ZEC team as competent. Bons also emphasized that privacy-related development is too valuable to be derailed by ignorance.

U.S. spot Bitcoin ETFs saw a net inflow of $2.69 million (4.1 billion won) on June 4, marking a shift to net inflows for the first time in 14 trading days, according to data compiled by Trader T. - BlackRock's IBIT: +$47.3 million - Morgan Stanley's MSBT: +$9.87 million - Fidelity's FBTC: -$5.54 million - Bitwise's BITB: -$15.57 million - Ark Invest's ARKB: -$20.72 million

Andrew McCormick, a former executive at eToro, has joined Chainlink as its Head of Institutional and Market Development, he announced on X. McCormick worked at eToro for four and a half years, most recently serving as CEO of its U.S. entity, and has over 15 years of experience in trading and capital markets. At Chainlink, he will be responsible for driving institutional crypto adoption.

South Korean crypto exchange Bithumb has announced it will temporarily suspend deposits and withdrawals for Cosmos (ATOM) starting at 9:00 a.m. UTC on June 10 to support a network upgrade.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $254.29 million liquidated (54.65% shorts) - ETH: $120.60 million liquidated (63.15% longs) - ZEC: $45.87 million liquidated (88.02% longs)

An anonymous whale with an address starting in 0x8def, who previously lost $46.46 million shorting Hyperliquid (HYPE), is now down $910,000 after flipping to a long position, Lookonchain reported. The address currently holds long positions in HYPE, WLD, ZEC, TON, ASTER, XMR, and NEAR, with total unrealized losses exceeding $3 million.

Amid a drop in ZEC's price following the Orchard Pool bug, a 3x short position on the token held by Garrett Jin, founder of the fraudulent crypto exchange BitForex, is showing an unrealized profit of over $13.5 million on Hyperliquid (HYPE), according to Onchain Lens. In contrast, his 5x long position on BTC is showing a loss of over $17 million.

BitMEX co-founder Arthur Hayes announced on X that he has sold his entire position in Zcash (ZEC). He stated that the "Holy Trinity"—referring to HYPE, ZEC, and NEAR—is now over. Hayes explained that he was forced to sell his ZEC holdings due to the Orchard Pool bug. While he believes the probability of unauthorized minting is extremely low, he noted that it cannot be proven cryptographically impossible. According to Hayes, the narrative of protecting privacy from AI, governments, and Big Tech demands perfection. Hayes previously revealed he had also sold all his HYPE and NEAR tokens, promising to disclose his reasons next Tuesday. He confirmed that he continues to hold Worldcoin (WLD).

Jacki McGavick, a former special assistant to U.S. President Donald Trump and White House Director of Policy Communications, announced on X that she has joined the prediction market platform Kalshi.

According to CoinNess market monitoring, BTC has fallen below $63,000. BTC is trading at $62,988.72 on the Binance USDT market.

The realized profit/loss ratio for Bitcoin (BTC) short-term holders (STH) has dropped to a historic low, according to crypto analyst Frank. Citing a chart from checkonchain, Frank said on X that this represents the largest capitulation by short-term holders in Bitcoin's history. The chart indicates that the STH realized profit/loss ratio fell to approximately -1.3 on a logarithmic scale, its lowest level since 2016. At that point, the price of BTC was recorded at $63,000.

Sui is adding a confidential transfers feature, co-founder and Chief Product Officer Adeniyi Abiodun announced on X. He explained that the main challenge for privacy cryptocurrencies is not hiding transaction amounts but ensuring no one can mint new tokens without authorization while the supply remains protected. Abiodun stated that Sui addresses this by narrowing its cryptographic verification to a single element: "range proofs" for the transfer amount. He stressed that the principle of asset supply conservation is embedded within the protocol's structure itself, rather than relying on individual proofs, making unauthorized issuance structurally impossible. The announcement follows a past incident where a bug in Zcash's (ZEC) Orchard protocol allowed for unauthorized token issuance, drawing significant community attention.

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

The Spot Cumulative Volume Delta (CVD) chart offers an order book analysis for the BTC/USDT spot pair. The top section displays a Volume Heatmap, while the bottom shows the CVD. - The Volume Heatmap tracks trading volume at specific price levels. The background color brightens when the price lingers in a particular range or experiences significant movement. These brighter areas can potentially act as support or resistance. - The CVD indicator at the bottom represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. The yellow line tracks orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

Bithumb has announced that it will temporarily suspend deposits and withdrawals for Pocket Network (POKT) starting at 10:00 a.m. UTC on June 9 to support an upcoming network upgrade.

The Altcoin Season Index from crypto data platform CoinMarketCap has fallen 12 points from yesterday to 45. The index is calculated by comparing the price performance of the top 100 coins by market capitalization, excluding stablecoins and wrapped coins, against Bitcoin. An 'altcoin season' is declared if 75% of these coins have outperformed Bitcoin over the past 90 days; otherwise, it is considered a 'bitcoin season.' A score closer to 100 is indicative of an altcoin season.

Professional investors, including hedge funds, securities firms, and investment advisors, reduced their spot Bitcoin ETF holdings by 17% in the first quarter, selling approximately 52,000 BTC, Cointelegraph reported, citing an analysis from CoinShares. These investors decreased their total holdings from 313,000 BTC to 261,000 BTC. Among them, hedge funds cut their holdings by 39% and securities firms by 53%. Investment advisors, who held the largest amount, reduced their positions by a more modest 5.9%. In contrast, banks more than doubled their holdings during the same period, adding 7,800 BTC. Bitcoin's price fell by about 22% in the first quarter, at one point dropping below $60,000. CoinShares noted that despite market volatility, regulators have been working to clarify supervisory jurisdiction between the U.S. SEC and the CFTC, and proposals regarding the handling of cryptocurrency in retirement accounts have also been addressed. The firm added that the regulatory foundation for crypto has recently been improving and that BTC adoption among traditional financial institutions is spreading. The market is now focused on the potential passage of the CLARITY Act, which is expected to face a Senate vote as early as August.