Bitcoin Longs Wiped Out as Price Dips Below $101K On June 7, 2025, Bitcoin witnessed a massive $160 million long liquidation event on Binance, marking one of the largest leverage resets this year. As BTC briefly fell below the $101,000 mark, heavily leveraged long positions were forcefully liquidated. This sudden wipeout triggered extreme short-term volatility but historically signals a “capitulation” phase — often followed by a recovery. Binance Registers Over 4,000 BTC in Outflows In the aftermath of the sell-off, Binance recorded over 4,000 BTC in outflows, indicating that investors are pulling coins off exchanges—a common behavior seen during early…
Author: Blockto Team
Major Exploit Hits Bitcoin DeFi Platform On June 6, Alex Protocol, a decentralized finance (DeFi) platform built on the Stacks blockchain, was exploited due to a critical vulnerability in its self-listing verification logic. This flaw allowed an attacker to drain liquidity from multiple asset pools, resulting in a loss of approximately $8.3 million in digital assets. The stolen funds included: This incident ranks among the largest exploits in the Stacks ecosystem, raising significant concerns about security in Bitcoin-based DeFi platforms. Reimbursement Plan for Affected Users In a swift response, the Alex Lab Foundation, which supports the protocol, announced it will…
Landmark Ruling Backs DOGE in Cost-Cutting Mission U.S. Supreme Court ruled in favor of the Department of Government Efficiency (DOGE), granting it full access to sensitive personal data held by the Social Security Administration (SSA). The decision, backed by the court’s conservative majority, marks a major victory for the Trump administration’s agenda to reduce federal waste and overhaul government systems. DOGE, once led by billionaire Elon Musk, was created to identify inefficiencies in federal spending. Its latest efforts focus on the SSA’s records, which include Social Security numbers, medical history, tax returns, and citizenship data for nearly every American. Court…
XRP Recovers After Losses, Hits $2.18 XRP, the fourth-largest cryptocurrency by market capitalization, made a key reversal on Friday, recovering from a two-day slump. After finding strong support at $2.08, the token rallied to a high of $2.192 during Friday’s session and is now stabilizing around $2.18, marking a 2.18% increase over the past 24 hours. This recovery offers some relief to XRP holders who were rattled by recent bearish pressure earlier in the week. Trading Volume Falls Nearly 49% — A Red Flag? Despite the price recovery, XRP’s trading volume has plunged 48.96% in the same 24-hour window, according…
South African Judge Criticizes Outdated Crypto Regulations A South African High Court judge has called for modern cryptocurrency regulations, highlighting the country’s continued reliance on outdated laws from the Apartheid era. Judge Mandlenkosi Motha emphasized the need for progressive legal frameworks to keep pace with the global evolution of digital finance. “Cryptocurrencies have been around for over 15 years. There’s no reason to regulate them under pre-digital laws,” the judge remarked during a recent court ruling. The case in question involved Standard Bank and James Ewing & Sons, concerning international fund transfers to crypto exchanges. The ruling raised concerns over…
MAS Issues Final Warning to Unlicensed Digital Asset Providers Singapore’s Monetary Authority (MAS) has issued a decisive directive to unlicensed crypto firms, requiring them to stop offering services to overseas customers or seek proper licensing. The move, dated May 30, 2025, marks a significant escalation in Singapore’s long-standing regulatory stance and reflects a broader global effort to close legal loopholes in the digital asset industry. The Financial Services and Markets Act (FSMA) now makes it clear: any firm operating from Singapore must be licensed — even if serving clients abroad. Not a Policy Shift, But Enforcement of Long-Standing Rules While…
Memecoin as a Political Sentiment Indicator United States President Donald Trump is openly recognizing his official memecoin as a tool to measure public sentiment toward his leadership. In a recent post on his social media platform, he shared an article framing the TRUMP token as a gauge of political momentum. This aligns with the growing narrative that digital assets, especially memecoins, can serve as unconventional barometers of public opinion. Despite its symbolic value, the token’s market performance raises concerns. The TRUMP memecoin is currently trading around $10, a sharp 85% drop from its all-time high of $73 in January. Massive…
Ethereum Surpasses $100B in Staked Assets Ethereum staking has reached a new all-time high, with more than 32.8 million ETH now locked in staking contracts. Valued at over $100 billion, this staked amount represents a major milestone for the Ethereum network, highlighting increasing commitment from long-term investors. This volume of staked ETH is now removed from active circulation, reducing the available supply in the open market. The data reveals a persistent and accelerating rise in staking participation, especially since Ethereum’s transition to proof-of-stake began in late 2020. Long-Term Accumulation Amid Market Noise While speculative trading activity and meme coin trends…
Bitcoin Advocates Urge Elon Musk to ‘Go All In’ As tensions escalate between Elon Musk and President Donald Trump, leading voices in the Bitcoin community are encouraging Musk to take a bold stand by adopting a Bitcoin-first strategy. Industry experts suggest that aligning Tesla, SpaceX, and other Musk-led ventures with Bitcoin could serve as a strategic response in the unfolding political and financial conflict. “The best way for Elon to get back at Trump is by full porting Bitcoin,” said a well-known crypto trader on June 6. This sentiment was echoed by the founder of a Bitcoin infrastructure firm, who…
Seoul, South Korea — June 7, 2025In a major move signaling stronger alignment between government and the blockchain industry, Kim Yong-beom, former CEO of Hashed Research, has been appointed Chief Policy Officer by South Korea’s newly elected President Lee Jae-myung. Kim, a former Vice Minister of Economy and Finance under the Moon Jae-in administration, brings both regulatory experience and deep crypto-native expertise to the Blue House. His appointment is widely seen as a positive signal for Korea’s Web3 future. “A very sad day at Hashed Open Research,” wrote Simon Kim, CEO of crypto fund Hashed, in an X post. “The…