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BlackRock-backed tokenization firm Securitize clears key hurdle to go public on NYSE
The tokenization specialist behind BlackRock's BUIDL fund could begin trading on the NYSE as SEC approves merger registration.

CoinDesk 2026-06-05 19:46
Pi Network Completes a Major Milestone, Yet PI’s Price Keeps Bleeding: Details
The team behind the controversial crypto project rolled out a major upgrade intended to strengthen the entire ecosystem. Nonetheless, the positive news failed to trigger a rebound for PI, whose valuation nosedived to yet another all-time low. Upgrade Completed Pi Network has made significant progress in recent months. In February, the Core Team unveiled protocol version 19.6, followed by an upgrade to v19.9. Later on, they introduced the highly anticipated v20.2, which set the foundation for smart contract capabilities. Last month, the team announced a migration to protocols v22 and v23, setting June 2 as the deadline to complete the transition to v24. This development was disclosed on Pi Network’s official X account earlier today (June 5). “Great job to all Nodes! This was one of the most challenging migrations,” the message reads. The upgrade to protocol 24 is primarily focused on enhancing the underlying infrastructure that supports node operations and mainnet activity. The Core Team revealed that migration to v25 is next in line, with June 18 designated as the completion deadline. In addition to the protocol update, Pi Network has recently advanced further in the gaming field. As CryptoPotato reported , CiDi Games (a Pi Network Ventures portfolio company) released four new games for Pioneers. Those include Coin Whack, Fruit Stack, Gemnova, and RainbowCubes. PI Price Outlook Despite the aforementioned developments, PI’s valuation remains heavily suppressed by the bear market and the latest pullback, which swept through the entire crypto market. Earlier this week, it collapsed to a new all-time low of around $0.12, representing a 33% decline for the month and a whopping 96% crash from the historic peak of $3 witnessed at the start of 2025. PI’s market capitalization has fallen to roughly $1.3 billion, making it the 58th-largest cryptocurrency. Certain factors signal that a further correction could be on the way. Data show that the number of PI coins stored on exchanges has soared by over 500,000 in the past 24 hours, bringing the total to over 550 million. This suggests that numerous investors have transferred their holdings to centralized platforms, thus increasing immediate selling pressure. PI Exchange Balance, Source: piscan.io The upcoming token unlocks are next on the list, with approximately 160 million PI set to enter circulation over the next 30 days. June 11 stands out as the record day when 16 million coins will be released. This development doesn’t guarantee a steeper downfall, but it will allow some investors to cash out tokens they have been holding for a long time. PI Token Unlocks, Source: piscan.io The post Pi Network Completes a Major Milestone, Yet PI’s Price Keeps Bleeding: Details appeared first on CryptoPotato .

Crypto Potato 2026-06-05 19:45
‘A Retired Truck Driver Hugged Me’—XYO’s 10M-Node DePIN Hits Revolut
XYO’s top 500 Coin app users earned $14M as the DePIN network’s 10M nodes meet a Revolut listing and a $50M token cap, co-founder Markus Levin says.

Forbes Digital Assets 2026-06-05 19:35
Coinbase CEO Brian Armstrong: US-China Competition Is ‘the Best Thing to Happen to America Since the Cold War’
Coinbase CEO Brian Armstrong believes competition with China “might be the best thing to happen to America since the cold war,” arguing the rivalry will jolt a complacent U.S. back into excellence. A Bullish Take on Great-Power Rivalry Brian Armstrong, chief executive of the largest U.S. crypto exchange, framed the intensifying contest with China as

Bitcoin.com 2026-06-05 19:30
Bitcoin Whales Return To Binance As Selloff Echoes February Panic
Bitcoin’s June correction is now being accompanied by a sharp rise in whale deposits to Binance, according to CryptoQuant analyst Darkfost, reviving a pattern last seen during the market’s February stress event. The data suggests that large holders are moving more BTC back onto the exchange as the selloff deepens, potentially adding near-term supply pressure. Darkfost said Bitcoin is down 14% in June, with the decline accelerating over the past several days. That move has pushed some investors into a more defensive posture, particularly large entities moving sizable amounts of BTC. In the analyst’s framework, whales are defined as entities executing transactions above 100 BTC, or more than $6 million at current prices. The most visible change has occurred on Binance. According to the post, whale inflows to the exchange reached approximately 8,200 BTC on June 2, followed by more than 6,400 BTC on June 4. More importantly, the trend has also shifted on a monthly basis: average whale inflows on Binance have risen from roughly 1,200 BTC since mid-April to more than 2,800 BTC today, meaning the figure has more than doubled in a matter of weeks. “On Binance, BTC inflows from whales have accelerated sharply,” Darkfost wrote, pointing to the June 2 and June 4 peaks. “On a longer-term basis, the monthly average of whale inflows on Binance has moved from approximately 1,200 BTC since mid-April to over 2,800 BTC today, more than doubling within a matter of weeks.” Bitcoin Whale Deposits Point To Rising Sell-Side Risk Exchange inflows do not mechanically prove that coins have already been sold. However, large transfers to trading venues are commonly watched as a proxy for potential sell-side intent, especially when they occur during a fast correction rather than during a period of accumulation or sideways consolidation. Related Reading: Bitcoin’s Most Important Metric Flashes Warning As Bulls Fight To Hold $60K Darkfost framed the current increase in that context. “This dynamic suggests that the ongoing correction is pushing some whales to move their BTC back onto the exchange, presumably with the intention of selling,” the analyst wrote. “This behavior looks more like emotional risk management than a deliberate strategic decision.” That distinction matters for market interpretation. A strategic rebalance usually implies pre-planned execution, portfolio rotation, or a controlled reduction in exposure. Panic-driven exchange inflows, by contrast, tend to appear after price damage has already forced large holders to reassess risk. They may worsen near-term pressure, but they can also emerge late in a corrective sequence. Related Reading: Bitcoin’s Great Wealth Transfer May Fuel Next Rally, Says CryptoQuant CEO Bitcoin was trading near $62,533 at the time of writing, after an intraday low of $61,407 and high of $64,380. That puts the market close to the levels referenced in Darkfost’s comparison with February, when whale inflow activity on Binance last reached a similar intensity during Bitcoin’s drop to $60,000. February Comparison Raises The Key Question The February reference is the central point of the analysis. Darkfost noted that the last comparable surge in Binance whale inflows came as Bitcoin fell below $60,000 earlier this year. In that case, the elevated inflows reflected stress after a sharp drawdown rather than an early warning signal ahead of the full move. “For reference, the last time whale inflow activity on Binance reached such levels was during Bitcoin’s drop below $60,000 in early February,” the analyst wrote. “This development introduces additional selling pressure in the short term. That said, panic-driven moves of this kind tend to arrive well after the fact, as was the case in February.” At press time, BTC traded at $62,332. Featured image created with DALL.E, chart from TradingView.com

NewsBTC 2026-06-05 19:30
Bitcoin breaks below $60K as risk-off sentiment intensifies
More on markets Dividend Roundup: UnitedHealth Group, Verizon, Alphabet, American Express, and more Treasury yields jump after May payrolls crush expectations Nonfarm payrolls soar past consensus in May; unemployment rate holds at 4.3% AI-powered startup boom could bring major labor market shifts, Apollo says JPMorgan sees the bond yield surge fading in the second half of 2026

Seeking Alpha 2026-06-05 19:28
Cardano’s toughest test yet? ADA sinks as projects fold
The global crypto market saw massive selling over the week. Its cumulative market cap dipped by almost 4% in the last 24 hours to stand at $2.14 trillion. Bitcoin price nose-dived to $61,000 levels, adding more pressure on the altcoins. Cardano (ADA) fell below $0.16 , hitting its lowest price since December 2020. This came when Charles Hoskinson stepped back from public appearances. However, TapTools also announced it would shut down. The situation worsened because of the weak crypto market. This led to ADA dropping over 70% from its peak near $1.00 in 2026. Now, with no strong leadership and facing the risks of a volatile market, people are asking if Cardano can hold on. It also tests whether its decentralized governance can handle crises without an outspoken leader like Hoskinson. Cardano braces for more project failures Cardano founder retreat and project closures point to growing pressure across the network. Hoskinson made it clear that he’s stepping back from public appearances because of relentless personal attacks. He also highlighted an overall toxic online atmosphere. Though he stated he wasn’t focused on raising ADA price , he vowed to keep working on the Midnight privacy sidechain, just with less fanfare. Right before going into hiding, Hoskinson also dropped a bombshell. He predicted there’d be more project closures in the second half of 2026. This reportedly came shortly after NFT marketplace JPG Store and analytics platform TapTools shut down. Hoskinson warned there’s a “wave of failures” headed towards the ecosystem. He went on to note that the community hasn’t shown much interest in using treasury funds to save failing projects. Bitcoin weakness and liquidations accelerate ADA breakdown below key support levels. ADA wasn’t the only coin to take a nosedive. Bitcoin dropped below $70,000 for the first time since early April. BTC price is down by more than 26% over the last 24 hours. It is trading at $60,210 at press time. ADA buzz surges as fear spreads Lower-liquidity large-cap tokens, such as ADA, can have larger percentage drops compared to BTC when the important support levels fail to hold. The drop below the $0.247 support level for ADA triggered more liquidations. Shorts account for about 75% of the liquidated. Analyst Ali Martinez provided two further targets for downside action in ADA; the two price levels are $0.11 and $0.051. These would correspond to falls of over 70% in price from recent levels. Selling pressure for ADA was also fuelled by Cardano’s governance issues. The Cardano Foundation cancelled the 2026 Cardano Summit that was supposed to be held in Singapore after a revised funding request of 7.8 million ADA failed to be passed by the two-thirds majority required, receiving only 65.2% support. Separately, a request for 32.9 million ADA for Input Output Global’s research and development budget failed to pass, with over 80% opposed; this raised questions about how upgrades will be funded going forward. Social media discussion of Cardano hit a 2026 high. ADA reached around 0.52% social dominance (more than one in every 190 crypto-related posts mentioned the token), according to Santiment. Daily active addresses surged to 28,459, the highest level in four months. But Santiment noted the activity was driven by bearish sentiment and volatility rather than adoption. If you're reading this, you’re already ahead. Stay there with our newsletter .

Cryptopolitan 2026-06-05 19:22
Bitcoin’s Price Drops Below $60K for the First Time Since October 2024
The cryptocurrency market continues to suffer. Over the past 24 hours, Bitcoin’s price has fallen by a considerable 5.5%. More notably, it dipped below the coveted $60,000 level for the first time since October 2024. Source: TradingView As CryptoPotato reported earlier, the move reflects a broader market downturn where altcoins are suffering equally, if not worse than Bitcoin. This has resulted in a whopping $1.5 billion worth of liquidated derivatives positions throughout the past 24 hours, as the downturn doesn’t appear to ease. BTC’s price has bounced slightly after dropping to $59,743 and it’s interesting to see if this level will be able to halt further downside. The post Bitcoin’s Price Drops Below $60K for the First Time Since October 2024 appeared first on CryptoPotato .

Crypto Potato 2026-06-05 19:20
US House Panel Drafts Bills to End Double Taxation on Crypto Mining and Staking Rewards
BitcoinWorld US House Panel Drafts Bills to End Double Taxation on Crypto Mining and Staking Rewards The U.S. House Ways and Means Committee has released draft proposals for seven bills aimed at overhauling the Internal Revenue Service’s (IRS) framework for cryptocurrency taxation, according to a report from CoinDesk. A central pillar of the legislation is to ease the tax burden on virtual asset mining and staking rewards, addressing a long-standing industry grievance over double taxation. Ending Double Taxation on Mining and Staking The crypto industry has long opposed the IRS’s current policy, which taxes assets once upon acquisition as unrealized gains and again upon their sale. The draft bills include provisions to significantly reduce this burden or eliminate taxation at the point of acquisition. This would mean that rewards earned from proof-of-work mining or proof-of-stake validation would no longer be taxed when first received, only when sold or exchanged. Proponents argue this aligns with the treatment of other property types under existing tax law. De Minimis Exemption for Small Transactions Additionally, the proposals aim to do away with capital gains taxes on minor asset value fluctuations that occur during small transactions, such as buying a coffee, sending small amounts of stablecoins, or paying network gas fees. This so-called ‘de minimis’ exemption would simplify reporting for everyday crypto use and reduce the compliance burden on individuals. The threshold for what qualifies as a small transaction has not yet been specified in the drafts. Wash Sale Rule Applied to Crypto The ‘wash sale’ rule from traditional securities markets, which prohibits artificially creating tax losses by selling an asset and immediately repurchasing it, is also planned to be applied to virtual assets. Currently, crypto investors can harvest tax losses by selling at a loss and quickly buying back the same asset, a practice not allowed in stocks and bonds. Applying this rule would close a perceived loophole and align crypto taxation more closely with conventional financial instruments. Timeline and Next Steps As Bitcoin World previously reported, the committee was expected to release the seven crypto tax bills as early as Friday, U.S. time. The draft proposals are now public, signaling the beginning of a formal legislative process. The bills will need to pass through committee markup, floor votes in both the House and Senate, and ultimately receive presidential approval before becoming law. Industry observers expect significant debate, particularly around the de minimis exemption threshold and the definition of ‘small transactions.’ Why This Matters to Crypto Users If enacted, these bills would represent the most significant change to U.S. crypto tax policy since the IRS first issued guidance on virtual currencies in 2014. For miners and stakers, the elimination of taxation at acquisition could reduce annual reporting complexity and lower effective tax rates. For everyday users, the de minimis exemption would make spending crypto for small purchases far less burdensome from a tax perspective. However, the application of wash sale rules may limit tax-loss harvesting strategies for active traders. Conclusion The House Ways and Means Committee’s draft bills mark a pivotal step toward modernizing U.S. tax treatment of digital assets. By targeting double taxation on mining and staking rewards and introducing exemptions for small transactions, lawmakers are responding to industry calls for clearer, fairer rules. The legislative path remains uncertain, but the proposals signal growing bipartisan interest in creating a coherent federal framework for cryptocurrency. FAQs Q1: What is double taxation on crypto mining and staking? Double taxation occurs when the IRS taxes crypto rewards both when they are received (as income) and again when they are sold or exchanged (as capital gains). The draft bills aim to eliminate the tax at the point of acquisition. Q2: What is a de minimis exemption for crypto transactions? A de minimis exemption would waive capital gains taxes on small transactions, such as buying a coffee or paying network fees, where the value change is minimal. This simplifies tax reporting for everyday crypto use. Q3: How would the wash sale rule affect crypto traders? The wash sale rule would prevent investors from selling a crypto asset at a loss and immediately buying it back to claim a tax deduction. This rule already applies to stocks and bonds and would align crypto with traditional securities. This post US House Panel Drafts Bills to End Double Taxation on Crypto Mining and Staking Rewards first appeared on BitcoinWorld .

Bitcoin World 2026-06-05 19:20
Bitcoin Dives Below $60K Following Strong Jobs Data, Zcash Crash Shaking Crypto Confidence
Bitcoin has now fallen more than 50% from its October peak, dipping below $60,000 as the crypto industry reckons with the Zcash vulnerability.

Decrypt 2026-06-05 19:15
Bitcoin Falls Below $60,000 for First Time Since 2024 Trump Win
Bitcoin fell below $60,000 for the first time since October 2024, extending its reversal from market darling after the reelection of US President Donald Trump to a casualty of a rapidly changing speculative landscape.

Bloomberg (Crypto) 2026-06-05 19:15
Crypto Market Shaken: $105 Million in Futures Liquidated in One Hour
BitcoinWorld Crypto Market Shaken: $105 Million in Futures Liquidated in One Hour The cryptocurrency market experienced a sharp sell-off in the past hour, resulting in the liquidation of approximately $105 million worth of futures positions across major exchanges. This rapid unwind adds to a broader 24-hour total that has now reached $1.378 billion, according to data aggregated from leading trading platforms. Breaking Down the Liquidations The $105 million figure represents forced closures of leveraged trading positions, where traders’ collateral was insufficient to maintain open orders amid sudden price movements. Data indicates that long positions — bets on rising prices — accounted for the majority of the liquidations, suggesting that many traders were caught off guard by the swift downturn. The 24-hour total of $1.378 billion is among the highest single-day liquidation figures recorded in recent months, underscoring the intensity of the current market volatility. Market Context and Potential Triggers While the exact catalyst for the sell-off remains unclear, market analysts point to a combination of factors. Broader macroeconomic uncertainty, including shifting interest rate expectations and regulatory developments in key jurisdictions, has been weighing on risk assets. Additionally, technical resistance levels for major cryptocurrencies like Bitcoin and Ethereum have been tested repeatedly in recent weeks, creating conditions for a sharp reversal when sentiment shifts. The concentrated nature of the liquidations suggests that a relatively small number of large leveraged positions may have triggered a cascade effect, amplifying the downward move. Implications for Traders and Investors For active traders, this event serves as a stark reminder of the risks inherent in high-leverage strategies. The speed and scale of the liquidations highlight how quickly market conditions can change, particularly in the crypto space where liquidity can vary significantly. For longer-term investors, the episode may be viewed as a healthy purge of excessive leverage, potentially setting the stage for a more sustainable market structure. However, the persistence of large liquidation events points to ongoing speculative behavior that could lead to further volatility in the near term. Conclusion The $105 million in hourly liquidations and the $1.378 billion 24-hour total reflect a market under significant stress. While the immediate trigger remains uncertain, the event underscores the importance of risk management for anyone trading leveraged products. As the market digests these moves, traders and analysts will be watching for signs of stabilization or further weakness in the hours ahead. FAQs Q1: What does it mean when futures are liquidated? Liquidation occurs when a trader’s leveraged position is automatically closed by the exchange because the margin (collateral) falls below the required maintenance level due to adverse price movements. This is a risk management mechanism to prevent the trader from incurring losses beyond their deposited funds. Q2: Are liquidations a sign of a market crash? Not necessarily. While large liquidation events often coincide with sharp price drops, they can also occur during rapid upward movements (short squeezes). They indicate high leverage and volatility rather than a definitive long-term trend reversal. Q3: How can traders protect themselves from liquidation? Traders can reduce risk by using lower leverage, setting stop-loss orders, maintaining adequate margin, diversifying positions, and avoiding overconcentration in a single asset. Staying informed about market conditions and potential catalysts is also crucial. This post Crypto Market Shaken: $105 Million in Futures Liquidated in One Hour first appeared on BitcoinWorld .

Bitcoin World 2026-06-05 19:15

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