Summary
gm, BitMEX researchers uncovered operational security vulnerabilities within North Korea's Lazarus Group and Wintermute launches "CrimeEnjoyor," a tool to flag Ethereum wallet-draining contracts. The TON blockchain experienced a brief 40-minute outage due to a masterchain dispatch queue error but was quickly restored with no funds compromised. On the regulatory front, the SEC raised compliance concerns over proposed Ethereum and Solana ETFs, specifically questioning whether they qualify as investment companies under the Investment Company Act. Meanwhile, South Korea's crypto landscape looks promising regardless of election outcome, as both presidential candidates have pledged support for crypto-friendly policies, including spot crypto ETFs and easing banking restrictions for exchanges.

News Headlines
🎮 Crypto Game Shutdowns Accelerate in 2025 as Funding Dries Up

  • Multiple high-profile crypto games including Deadrop, Nyan Heroes, and Ember Sword have shut down in 2025 due to funding challenges and difficulties maintaining player bases, with Ember Sword closing despite once raising over $200 million.
  • The industry-wide trend highlights the struggle of crypto gaming projects to transition to sustainable business models, with many promising titles announcing closures or impending shutdowns as they fail to secure ongoing financing.

⚠️ Max Keiser Questions New Bitcoin Treasury Companies' Staying Power

  • Bitcoin maximalist Max Keiser has expressed skepticism about newer Bitcoin treasury companies trying to replicate Michael Saylor's strategy, noting they haven't yet proven their resilience during extended bear markets.
  • Concerns are growing about the sustainability of these firms' high valuations, especially as some estimates suggest they could collectively hold over 50% of total Bitcoin supply, with investors currently paying inflated costs for Bitcoin exposure compared to direct purchases.

đź’° Ross Ulbricht's Personal Items Auction Nets Over $1.8M in Bitcoin

  • An auction of Silk Road founder Ross Ulbricht's personal belongings generated over $1.8 million in Bitcoin, with his final prison ID card selling for 11 BTC (over $1.1 million) as collectors sought pieces of crypto history.
  • Alongside the auction proceeds, Ulbricht may also have access to approximately 430 BTC valued at around $47 million, which have remained inactive in wallets believed to be linked to him for over 13 years.

🛡️ Crypto Hack Losses Drop 40% in May as Security Measures Improve

  • Crypto hacks saw a significant decline in May, with 20 reported incidents totaling $244.1 million in losses, down 39.29% from April, indicating improved security measures across the industry.
  • The Cetus decentralized exchange suffered the largest hack at $223 million, but approximately $157 million of those funds have been frozen, while smaller hacks targeted Cork Protocol ($12 million) and other projects like DPRK, MBU token, and MapleStory Universe.

đź”’ Musk Announces "Bitcoin-Style Encryption" for X Platform

  • Elon Musk announced that X's new messaging feature, XChat, will include encrypted conversations, disappearing messages, and audio/video calls with "Bitcoin-style encryption."
  • Bitcoin experts quickly corrected Musk's terminology, clarifying that Bitcoin itself doesn't use traditional encryption methods for message confidentiality, highlighting potential misunderstandings about the technology.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
đź’Ľ Czech Justice Minister Resigns Over Bitcoin Donation Scandal

  • Czech Justice Minister Pavel Blazek has resigned after accepting a $45 million Bitcoin donation from convicted drug trafficker Tomas Jirikovsky without proper due diligence.
  • The scandal erupted after the ministry auctioned nearly 500 Bitcoin to fund justice system projects, prompting a police investigation into the cryptocurrency's origins.

⚖️ New York Man Denied Bail in Bitcoin Torture Plot

  • William Duplessie has been indicted on kidnapping and assault charges for allegedly holding an Italian crypto investor hostage for 17 days to extort Bitcoin.
  • The victim reportedly suffered electrical shocks and physical beatings before escaping, highlighting the growing trend of violent crimes targeting cryptocurrency holders.

đź“Š World Vision Becomes First Nonprofit to Trade Crypto in South Korea

  • World Vision Korea has made history as the first nonprofit to sell cryptocurrency after South Korea lifted its institutional crypto trading ban on June 1.
  • New regulations now allow nonprofits with five years of audited financial history and exchanges to trade cryptocurrencies, with publicly listed companies expected to gain permission later this year.

đźš“ French Authorities Charge 25 in Crypto Kidnapping Ring

  • French prosecutors have charged 25 individuals, including six minors, for orchestrating a series of kidnappings targeting cryptocurrency executives, including the CEO of Paymium exchange.
  • The case highlights a growing international trend of physical security threats against crypto industry figures, with 18 suspects currently in pre-trial detention.

🔄 Traders Shift to Short-Term Strategies Amid Tariff Uncertainty

  • Cryptocurrency traders are increasingly focusing on short-term profit-taking due to economic uncertainty surrounding US trade tariffs and potential trade wars.
  • Recent delays in EU tariffs briefly boosted crypto markets, with Bitcoin experiencing notable intraday increases, but analysts remain cautious about long-term market stability.

Technical Analysis
Bitcoin - Bitcoin has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The currency is testing support at points 104000. This could give a positive reaction, but a downward breakthrough of points 104000 means a negative signal. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The currency is overall assessed as technically slightly positive for the short term.

Ethereum - Investors have paid higher prices over time to buy Ethereum and the currency is in a rising trend channel in the short term. Rising trends indicate that the currency experiences positive development and that buy interest among investors is increasing. The currency has marginally broken down through support at points 2530. An established break predicts a further decline. Volume has previously been high at price tops and low at price bottoms. This strengthens the trend. The currency is overall assessed as technically slightly positive for the short term.