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The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $26.91 million liquidated (75.44% longs) - ETH: $32.55 million liquidated (67.72% longs) - HYPE: $20.78 million liquidated (90.13% shorts)

Nasdaq-listed Bitcoin mining company Cango (CANG) announced a preliminary net loss of $261.1 million for the first quarter of 2026. The company mined 1,266 BTC during the period. Cango explained that the loss reflects non-cash impairment charges on its mining equipment and fluctuations in the value of its Bitcoin holdings amid a drop in the price of BTC. Total revenue for the same period was $102 million, with the Bitcoin mining business accounting for $98.4 million, or 96% of the total.

In response to reports that a Polymarket user lost over $2 million in a hack, Josh Stevens, the company's Vice President of Engineering, stated on X that Polymarket is collaborating with the victim and relevant exchanges to freeze the stolen funds. He clarified that the victim was deceived by a fake webpage created by a hacker, where they entered a one-time password (OTP) for their Magic Link wallet, a simple wallet accessed via email links. The hacker then used this to withdraw the funds. Stevens urged users to be extremely cautious when accessing non-Polymarket domains and added that the company is internally considering the introduction of additional security features, such as multi-factor authentication (MFA), to enhance account protection.

South Korean crypto exchange Bithumb announced it will list Solstice (SLX) for trading against the won at 8:00 a.m. UTC today.

European Central Bank (ECB) Executive Board member Isabel Schnabel said on June 1 that the bank can no longer ignore the inflationary impact of the war in Iran, as price pressures spread beyond the energy sector and the risk of inflation expectations becoming de-anchored grows. She explained that disruptions to energy infrastructure and global supply chains have altered price dynamics in a more lasting way, potentially requiring a policy response even if the conflict ends immediately. Regarding the number of interest rate hikes, Schnabel commented that it is "too early to say" it will end with just a few increases, adding that the ECB must "wait and see how the situation develops." She also noted that the current shock differs from past energy crises, as it is increasingly taking on the character of a global demand shock that is simultaneously raising production costs worldwide.

South Korean crypto exchange Upbit announced it will list Solstice (SLX) for trading against the South Korean won (KRW), Bitcoin (BTC), and Tether (USDT) at 5:00 a.m. UTC on June 1.

A buy-side sidecar has been triggered for the KOSPI after the index surged 4%.

The Bitcoin Kimchi Premium has fallen to -2.7%, its lowest level since March 2022, according to cryptocurrency analyst MAC.D.

South Korean crypto exchange Upbit has announced that it will temporarily suspend deposits and withdrawals for Megaether (MEGA) starting at 11:00 a.m. UTC on June 4 due to a network upgrade.

A new address starting with 0x82C purchased 8.1 million Binance Life tokens with approximately 5 million USDT at an average price of $0.6141, reported on-chain data tracker ai_9684xtpa. The address now holds around 0.81% of the total supply, ranking it among the top-20 holders. Following the purchase, the token's price surged about 32% from $0.5314 to $0.702.

Alexey Korolenko, CEO of Russian crypto investment platform CypraMarkets, predicted that if Russia passes and implements its package of cryptocurrency laws, the country could see up to 1 million new crypto accounts opened in the first year. In an interview with TASS, he noted that this growth would be driven by large financial institutions providing user-friendly crypto services within a regulated market.

South Korean crypto exchange Bithumb has announced it will end multichain and deposit/withdrawal support for Swell Network (SWELL) on the Swell Chain. The move follows the termination of the Swell Chain network service. Consequently, SWELL deposits and withdrawals via Swell Chain will be suspended starting at 2:00 a.m. UTC on June 2.

According to CompaniesMarketCap, which tracks the market capitalization of major global assets and companies, Samsung Electronics ranked 13th as of June 1, overtaking Bitcoin (14th). SK Hynix placed 15th, just below Bitcoin.

South Korean crypto exchange Bithumb announced it will list Helium (HNT) for KRW trading at 5:00 a.m. UTC today.

Solana developer cavemanloverboy has published a governance proposal, SIP-547, aimed at improving SOL's tokenomics. The developer argued that the current scale of SOL burning on the Solana network is effectively meaningless. He noted that even with 3,000 transactions per second (TPS), or 259 million transactions per day, burning the base fee of 2,500 lamports results in only 648 SOL being burned daily. This figure is extremely low compared to the daily inflation of approximately 60,000 SOL. According to the proposal, a blanket increase in the base fee is not a realistic option. Instead, cavemanloverboy stressed that the only reasonable way to improve the tokenomics at this point is to introduce a resource-based base fee system and burn the entire amount collected.

An anonymous whale has withdrawn 60.87 million WLFI from Binance over the past two days, according to EmberCN. The tokens are valued at $3.55 million, with an average acquisition price of $0.058. Withdrawals from exchanges are generally interpreted as a sign of intent to hold.

The KOSPI index surpassed 8,700 during intraday trading for the first time in its history.

Isabel Schnabel, a member of the European Central Bank's (ECB) executive board, warned that stablecoins could pose several risks to financial stability and monetary policy. Speaking today at the Bank of Korea's international conference in Seoul, Schnabel noted that while stablecoins could offer significant benefits, they also increase the risk of bank runs and could weaken the effectiveness of interest rate decisions, Bloomberg reported. She added that stablecoins could also reinforce the international dominance of the U.S. dollar. Schnabel emphasized that the ECB's best response is to ensure public funds continue to serve as an anchor for the financial system.

Mike Dudas, co-founder of The Block and crypto investment firm 6th Man Ventures, has defended the exchange Hyperliquid, stating it does not manipulate the prices or fund flows of its listed assets. His comments came in response to suggestions that Hyperliquid is as suspicious as Binance. Earlier, Multicoin Capital co-founder Kyle Samani stated on X that "Hyperliquid is as shady as Binance" and that the charges brought by the U.S. Department of Justice against Binance could also apply to the exchange. Samani dismissed claims of dialogue with regulators as "meaningless," noting that Binance also engaged in such talks for years. He added that the regulatory landscape has since clarified the distinction between centralized and decentralized protocols and established formal rules for centralized perpetual futures trading. Dudas called the comparison "absurd." He argued that Hyperliquid does not invest in listed coins to later sell them via perpetual futures or launchpads, nor does it pre-secure a portion of a coin's supply. He emphasized that Hyperliquid's financial structure is fully transparent on-chain, with platform revenue programmatically distributed to token holders.

Simon Dedic, founder of crypto venture capital firm Moonrock Capital, has asserted that the cryptocurrency LAB is a "laughably obvious scam" that appears to be operating without any penalties. "What's more disappointing is that major exchanges like Gate.io, KuCoin, and Bitget are also condoning and abetting this behavior for short-term profit," he pointed out. Dedic explained that LAB's price chart clearly shows suspicious market makers artificially inflating its value to lure in retail investors and extract their liquidity. He argued that such manipulation would require the cooperation of centralized exchanges (CEXs), as the costs would be prohibitive without fee-exempt accounts. Dedic stressed that exchanges assisting scam projects harms the entire industry and demonstrates a lack of morality. LAB's price more than doubled last week, with its fully diluted valuation (FDV) reaching $8.6 billion and now standing at approximately $10.5 billion. According to CoinGecko, this FDV places LAB 12th in the overall cryptocurrency market. For comparison, the market capitalization of South Korean firm Hyundai E&C is currently 15.69 trillion won, while LAB's FDV is valued at about 15.88 trillion won ($10.5 billion).

Jerome Powell, former Chairman of the U.S. Federal Reserve, has warned that the central bank's existence could be threatened if an administration were able to fire its officials over policy disagreements. According to The Wall Street Journal, Powell said at an event in Boston that if one administration finds a way to remove Fed officials based on policy differences, subsequent administrations would do the same. He added that the trust in the Fed, built over decades, is a precious asset that must be protected. The comments were his first public remarks since stepping down as Fed Chairman a week ago.

CoinMarketCap's Altcoin Season Index is currently at 39, unchanged from yesterday. The index measures market sentiment by comparing the price performance of the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped tokens, against that of Bitcoin. A period is considered an altcoin season if 75% of these top 100 coins outperform Bitcoin over the past 90 days. Otherwise, it is deemed a Bitcoin season. A score closer to 100 indicates that the market is in an altcoin season.

Key token unlocks this week include $684 million in HYPE According to data from Tokenomist, the major token unlocks scheduled for this week (June 1–7) are as follows: - EIGEN: 36.82 million tokens ($7.51 million), representing 6.55% of circulating supply, at 4:00 a.m. UTC on June 1 - ENA: 40.63 million tokens ($3.55 million), representing 0.49% of circulating supply, at 7:00 a.m. UTC on June 2 - OPN: 32.09 million tokens ($4.24 million), representing 10.89% of circulating supply, at 12:00 p.m. UTC on June 5 - HYPE: 9.92 million tokens ($684 million), representing 2.54% of circulating supply, at 12:00 a.m. UTC on June 6 - RED: 40.85 million tokens ($4.82 million), representing 10.87% of circulating supply, at 4:00 p.m. UTC on June 6

The following are the key global macro events scheduled for the first week of June. All times are in UTC. - June 1, 12:30 p.m.: U.S. Federal Reserve Governor Waller speaks - June 3: South Korean stock market closed - June 3, 1:00 p.m.: U.S. Fed Vice Chair Michael Barr speaks - June 3, 6:00 p.m.: Fed Beige Book released - June 4, 8:00 a.m.: European Central Bank President Lagarde speaks - June 4, 12:30 p.m.: U.S. initial jobless claims released - June 4, 3:40 p.m.: Bank of England Governor Bailey speaks - June 4, 5:10 p.m.: U.S. FOMC member Daly speaks - June 5, 12:30 p.m.: U.S. May non-farm payrolls and unemployment rate released

Whale Alert reported that 500 million XRP has been unlocked from escrow at Ripple.