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bitcoinist.com The Stablecoin Wars Just Got A New Contender — And This One Has 500,000 Retail Locations

MoneyGram, one of the world’s largest cross-border payments networks, announced on June 2 the launch of MGUSD — a native US dollar stablecoin bearing the company’s own brand and designed to serve as the foundational layer for a growing suite of financial services across its global remittance network, per the company’s official press release. Related […]

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forklog.media Keyrock to Acquire Bankrupt BlockFills’ Assets for $3.25 Million

Brussels-based Keyrock has agreed to purchase nearly all assets of the bankrupt crypto trading and lending firm BlockFills, allocating up to $3.25 million for the deal. Following an auction, Keyrock acquired the company's assets, some liabilities, stakes in related entities, client base, technologies, and intellectual property. The closure of the agreement is subject to court and regulatory approval.

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cryptopotato.com Ethereum Price Prediction: How Low Can ETH Go If $2K Support Decisively Cracks?

Ethereum remains under pressure after failing to reclaim a major resistance cluster. The price is now hovering around a key long-term support zone. The broader structure suggests sellers still dominate the market, while weakening demand from US investors adds another layer of caution. Ethereum Price Analysis: The Daily Chart On the weekly timeframe, ETH has […]

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news.bitcoin.com Solana Tops All Blockchains With $91 Million in May App Revenue, Beating Ethereum

Solana generated $91 million in application revenue in May, more than any other blockchain and ahead of Ethereum’s $52 million, according to data shared by Defillama. Solana out-Earns Every Layer 1 and Layer 2 Solana booked $91 million for the month, placing it ahead of the Hyperliquid L1 at $53 million, Ethereum at $52 million, […]

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bitcoinist.com Ethereum Foundation President Breaks Silence On New Mandate And Internal Tensions

Ethereum Foundation President Aya Miyaguchi has laid out her view of the organization’s new mandate, framing the shift as a necessary reset after internal debates became increasingly strained and the Foundation faced pressure to be too many things at once. Her comments, posted on X after Vitalik Buterin shared his own view of the Foundation’s […]

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forklog.media Russian Capital on Foreign Crypto Exchanges Falls to 720 Billion Rubles

By the end of March, the funds of Russian citizens on foreign centralized crypto exchanges decreased by 23% compared to the previous two quarters, reaching 720 billion rubles, according to a recent financial stability review by the Bank of Russia. The regulator estimated that 60% of these assets were in Bitcoin, 8% in Ethereum, and 32% in other coins. According to the "Transparent Blockchain" service, during the reporting period, Russian traffic on foreign CEX websites fell by 32% to 56.5 million visits. Growth in Synthetic Investments Additionally, the central bank noted an increase in investments in Russian instruments linked to the value of crypto assets. As of April 1, they reached approximately 3.8 billion rubles. Specifically, the volume of bonds based on ETFs in circulation amounted to 4.1 billion rubles. Of this, 1.7 billion rubles or 42% was held by individuals and non-profit organizations. The central bank mentioned structured bonds linked to shares of iShares Bitcoin Trust ETF and iShares Ethereum Trust ETF from BlackRock. It also referred to Moscow Exchange futures on Bitcoin and Ethereum indices (MOEXBTC, MOEXETH) and on cryptocurrency ETF shares (IBIT, ETHA). The net open position of retail investors in cryptocurrency futures was estimated at 1.7 billion rubles, with about 5,600 participants. Approximately 3,800 people invested 354 million rubles in DFAs. Within auto-following strategies, 271 individuals invested 85.6 million rubles in synthetic crypto instruments. BTC and ETH Prices Below October Levels The review states that the crypto market did not recover during the reporting period from the sharp decline in October 2025, unlike the stock market. In April 2026, the average monthly price of Bitcoin was $73,500—36% below the October 2025 level. Ethereum averaged $2,300—45% lower. The Bank of Russia attributed the correction to a shift of investors to traditional assets amid political tensions, expectations of a more hawkish stance from major central banks, and Bitcoin sell-offs by miners due to rising production costs. The Bank of Russia also highlighted stablecoins, whose capitalization has remained around $300 billion since October 2025, with transaction volumes reaching $1.5 trillion in March 2026. In late April, the first reading of the bill "On Digital Currency and Digital Rights" took place. It defines cryptocurrencies as currency value for foreign trade settlements and mandates transactions through licensed intermediaries. The procedure for administering wallets by digital depositories sparked particular debate. ForkLog discussed the document in detail in a podcast.

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forklog.media Toncoin Surges 19.5% Following Rebranding Announcement

The price of Toncoin (TON) surged following Pavel Durov's announcement of rebranding the blockchain's native cryptocurrency to Gram. Within a day, the asset's value jumped from $1.89 to $2.26 (+19.5%). At the time of writing, the price of TON had adjusted to $2. Hourly chart of TON/USDT on Binance. Source: TradingView. The founder of Telegram explained that the rebranding is the fourth step out of seven in the Make TON Great Again (MTONGA) initiative. According to him, the transition to the historical name Gram will take about three weeks, while the network will retain the name The Open Network (TON). "We are returning to our roots — and starting a new chapter. This change will pave the way for what comes next," Durov stated. Simultaneously, the Gram website was launched. A few hours before Durov's post, a vote on renaming the ticker from TON to GRAM appeared on TON Vote but was quickly removed. Later, the main vote was posted on the platform. The community erupted in debate: according to "Durov's Code," some users fear that the outcome of the vote could be disproportionately influenced by large holders. One of the wallets voting for the rebranding holds about 1.5 million TON — approximately $3.3 million. This address may be linked to a miner's wallet from which nearly 45 million TON were withdrawn in 2020. According to "Durov's Code," in the first 15 minutes of the current vote, nearly 90% of wallets opposed the rebranding. These were mainly addresses with small balances, collectively holding TON worth $578,866. The History of Gram The name Gram refers to the original Telegram Open Network project, which Durov attempted to launch between 2018 and 2020. At that time, the company raised $1.7 billion from accredited investors through SAFT (Simple Agreement for Future Tokens) deals. However, in 2019, the U.S. Securities and Exchange Commission (SEC) obtained a temporary ban on the distribution of tokens. The regulator insisted that Grams were unregistered securities and that the Howey Test should apply to the entire investment scheme, including secondary resale. In 2020, the Southern District of New York court supported the SEC's position, calling the initial token sale part of a single investment contract. As a result of regulatory pressure, Durov officially ceased involvement in TON's development, returned some funds to investors, and the project was handed over to an independent developer community and later renamed Toncoin. In May, Durov announced TON's leadership among L1 networks in transaction finalization.

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news.bitcoin.com Ripple Unlocks 1 Billion XRP for June as US Spot ETFs Log Record $118 Million in May Inflows

Ripple released 1 billion XRP from escrow at the start of June, the latest in its monthly unlock schedule, even as U.S. spot exchange-traded funds (ETFs) tied to the token posted their strongest month of 2026 with $118.29 million in net inflows. A Routine Unlock Meets Record ETF Demand Ripple, the company that uses the […]

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blockonomi.com Is Bitcoin Near a Cycle Bottom as Supply in Loss Reaches 40.6%?

TLDR: Bitcoin supply in loss stands at 40.6%, showing rising market stress but below past cycle bottom zones. CryptoQuant data shows cycle bottoms historically formed at higher loss levels that have gradually declined. Analysts link lower loss thresholds to stronger long-term holders, ETFs, and institutional participation growth. ETF outflows and market shifts show institutions can [...] The post Is Bitcoin Near a Cycle Bottom as Supply in Loss Reaches 40.6%? appeared first on Blockonomi.

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blockonomi.com Kelp DAO Hacker Launders $220M, Leaving Only Frozen Assets Within Reach

TLDR: The Kelp DAO Hacker moved nearly $220 million through privacy tools, limiting direct recovery efforts. Only about $1.7 million remains in original wallets after extensive cross-chain laundering activity. Arbitrum’s frozen 30,766 ETH worth $71 million remains the largest recoverable asset pool. Investigators linked the exploit to TraderTraitor, a DPRK-backed group tied to Lazarus operations. [...] The post Kelp DAO Hacker Launders $220M, Leaving Only Frozen Assets Within Reach appeared first on Blockonomi.

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bitcoinist.com The Stablecoin Wars Just Got A New Contender — And This One Has 500,000 Retail Locations

MoneyGram, one of the world’s largest cross-border payments networks, announced on June 2 the launch of MGUSD — a native US dollar stablecoin bearing the company’s own brand and designed to serve as the foundational layer for a growing suite of financial services across its global remittance network, per the company’s official press release. Related […]

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forklog.media Robinhood Completes Acquisition of Canada’s WonderFi

Online broker Robinhood has finalized the acquisition of Canadian crypto company WonderFi. The deal's closure was confirmed on June 1. Through WonderFi, the company gains access to regulated crypto infrastructure in Canada, including platforms Bitbuy, Coinsquare, and Bitcoin.ca. The transaction was valued at 250 million Canadian dollars.

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news.bitcoin.com Bitcoin Traders Lose $455M on Long Bets as BTC Dips Below $70,000

Bitcoin dropped below $70,000 to an eight-week low of $69,390, wiping out $4,000 in value over 48 hours and temporarily pushing its market cap below $1.4 trillion. Massive Liquidations Rock Crypto Traders Bitcoin ( BTC) continued to plunge Tuesday morning, dropping below $70,000 as the fallout from Strategy’s sale of 32 bitcoins continued to rock […]

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forklog.media AFX vs Hyperliquid

By spring 2026, Hyperliquid had become the de facto standard in the perp-DEX segment. According to CoinGecko, in April the platform processed $190.28 billion in trades (about 3.9% of the total volume), ranking ninth among all perpetual futures venues, including centralized exchanges. Yet the infrastructure problems of on-chain derivatives have not gone away. Meme-coin manipulation and unstable mark-price behavior under heavy load remain weak spots, and competitors are trying to answer them with their own architectural designs. On May 18, 2026, AFX joined the race — an L1 network built specifically for perpetual futures trading. Together with the project team, ForkLog examines how AFX is designed and how its approach differs from Hyperliquid. Hyperliquid sets the bar Hyperliquid combined a full on-chain order book with the user experience traders are used to from centralized exchanges. In October 2025, the protocol activated the HIP-3 upgrade, which allows any developer to launch a perpetual futures market on top of HyperCore by staking 500,000 HYPE. The market creator defines the contract specifications, oracles, leverage limits and settlement parameters, and can claim up to 50% of the fees. This mechanic quickly pushed Hyperliquid beyond the crypto-native perimeter. The platform became a round-the-clock venue for macro-risk trading: during the escalation of the Middle East conflict, the CL-USDC contract tied to WTI crude reached $1.1 billion in volume with open interest above $274 million. The segment leader has been through several stress tests. In March 2025, Hyperliquid faced manipulation around the meme-token JELLYJELLY: attackers exploited features of the liquidation mechanism and the asset’s thin liquidity, leaving the Hyperliquidity Provider Vault (HLP) with roughly $12 million in unrealized losses. The team had to halt trading manually and delist the contract. A new incident happened in November of the same year, this time with the meme-coin POPCAT. According to on-chain analysts, the attacker withdrew about $3 million in USDC from OKX, split the funds across 19 wallets and opened a combined long of roughly $30 million. When the trader pulled the wall of buy orders, his $20–30 million position was liquidated within seconds. The losses passed to the exchange's liquidity provider (HLP), which lost $4.9 million. Amid manipulation suspicions, Hyperliquid temporarily paused deposits and withdrawals. These episodes did not break the business model, but they marked specific scenarios in which Hyperliquid behaves differently from how its documentation reads. They also became reference points for the next generation of projects. An L1 built for the order book AFX positions itself as a Sovereign Trading Layer — dedicated infrastructure for professional derivatives trading. The team rejected a general-purpose blockchain and assembled its own stack: a custom execution layer, the Mysticeti consensus based on DAG BFT, and a modular structure built on ABCI/Cosmos SDK. Execution and consensus are separated, so the order flow is handled independently of other network processes. Hyperliquid also runs on its own L1 and builds its infrastructure around HyperCore — an on-chain engine for spot and perpetual markets with an order book and price-time priority matching. Through HyperEVM, developers can tap into HyperCore liquidity and build applications inside the ecosystem. AFX took the opposite direction: instead of an ecosystem horizontal, it focused on the trading-stack vertical — blockchain validator, mempool, DAG consensus, ABCI communication layer, virtual machine, accounts module, bridge and trading engine are packaged into a single system where the matching logic is physically separated from consensus and cannot be slowed down by it. The venue added two more elements geared toward professional flow: Zero gas fees remove friction from placing and canceling orders, so traders’ decisions no longer depend on transaction cost. Protection against MEV is built through a dedicated mempool and an execution architecture that separates the order sequence from regular on-chain traffic. A dedicated trading layer gives AFX more control over mempool behavior, transaction flow and execution logic than a DEX deployed on top of a congested general-purpose blockchain. At launch, four contracts went live: bitcoin and Ethereum with up to 40x leverage, plus gold (XAU) and crude oil (CL) with up to 25x. At the time of publication, the venue had added Solana, XRP, silver (XAG) and HYPE. Margin is in USDC. Deposits go through the Arbitrum network, with connection via MetaMask, Rabby, Coinbase Wallet or the WalletConnect protocol. The starter set of assets is telling: AFX is moving into the same niche where Hyperliquid is already setting records on macro assets and RWA. Not just speed Hyperliquid set a high bar: orders are filled in about 0.2 seconds on average, and even in rare cases of heavy delay, in roughly 0.9 seconds. AFX claims about 0.12 seconds to process a typical order, more than 50,000 operations per second and headroom to scale to 100,000–200,000. But comparing raw numbers does not show the whole picture. In quiet periods almost any large exchange runs fast. The real test comes during sharp market moves, when positions are closed en masse, funding rates change abruptly and trading bots fire off massive numbers of orders at once. “In moments like that, what matters is not just peak system speed but how stably the platform performs under load: how fast it processes and cancels orders, how it manages the order queue and how predictably it executes trades. AFX’s trading system is built first and foremost to preserve stability and predictability during peak load,” AFX contributors say. Mark price from three sources Mark price is the contract’s reference price that the exchange uses to calculate margin, PnL, liquidations and conditional-order triggers. On thin markets, the last-trade price can be moved sharply by a single large order. If mark price depends too heavily on the local order book, it opens the door to manipulation and forced liquidations. AFX calculates mark price as the median of three independent components: an external oracle price for the underlying asset, smoothed by a 2.5-minute moving average; the mid of AFX’s own order book; a weighted median of the mid for the same contract on the centralized exchanges Binance, OKX, Bybit, Gate and MEXC, with weights of 3:2:2:1:1 respectively. Source: Medium. If one of the sources returns abnormal data because of order-book manipulation, an oracle failure or a stuck feed from an external exchange, the median simply ignores it and takes the middle value. To shift the mark price noticeably, an attacker would have to influence at least two independent sources at once. The calculation refreshes once per second. In practice, this reduces the risk of false liquidations during short-term dislocations in the local order book. A stop-loss triggered by mark price will not fire on a single spike in AFX’s order book if the rest of the market remains stable. Orders triggered by the last trade price, on the contrary, react to that local move. The user chooses the trigger type, but the mark-price architecture makes the classic single-book manipulation attack significantly harder. Four phases of liquidation and the role of the LP Vault Cascading liquidations are one of the main stress tests for on-chain venues. AFX uses a four-step defense system that gradually tightens as the value of assets in the trader’s account approaches the minimum collateral threshold for the position. The first step cancels open orders that have funds reserved against them. The system first tries to free up capital without forcibly closing the position itself. If that is not enough and account equity drops below the maintenance margin, the second step kicks in — forced closure of the position on the open market. If any funds remain after the close, they are returned to the trader. The third step is triggered if a normal liquidation can no longer stabilize the account — for example, during a sharp market move, when a position races into deep loss. At that point the LP Vault (or ALP) takes on the open position and the trader’s remaining funds, becoming the counterparty to the trade and assuming the risk. The fourth step is the auto-deleveraging mechanism (ADL). It is used only as a last resort: if the LP Vault’s own funds go negative after absorbing a losing position, the system begins to cut profitable opposing positions of other participants to cover the remaining loss. Source: Medium. The LP Vault is the system’s main protective buffer in this model. The pool supplies liquidity to the order book, absorbs liquidated positions and takes on part of the risk during sharp market moves. ADL remains a backstop for cases where even the LP Vault cannot cover the losses in full. Pro-grade orders and cross-margin In cross-margin mode, AFX lets traders use unrealized profit as additional collateral. If an open position moves into the green, available margin increases automatically — there is no need to close the trade and withdraw the profit first. That makes capital handling more flexible: a trader can scale into a position, add a hedge or rebalance a portfolio without extra steps. Hyperliquid also develops its margin system: its documentation describes margin tiers that set maximum leverage and maintenance margin requirements. “The difference is in emphasis. Hyperliquid built one of the strongest on-chain perpetuals ecosystems. AFX enters the market with capital efficiency as a core architectural principle, targeting traders who run a portfolio of several positions and expect margin logic at the level of a professional trading system,” AFX representatives comment. The platform offers three order types. Market orders let the user cap allowed slippage in a 0.5%–5% range. Limit orders support the main execution modes — GTC, IOC, FOK and Post-Only. Conditional orders (stop-market and stop-limit) can be triggered by either the last trade price or the mark price. The roadmap also lists TWAP execution and a hedge mode with a simultaneous long and short on the same pair, but these features are not yet available at launch. Base fees are 0.01% for makers and 0.06% for takers. Under the VIP program, the rates drop as 30-day volume grows — both the main account and sub-accounts count toward the total. Users at the top VIP tiers also receive a share of the platform’s fee revenue. The referral program works through wallet attribution: after following a unique link, a user is bound to the inviter, and rewards are recalculated daily based on the referred network’s total trading volume. Betting on quant traders and market makers In the AFX team’s view, the bulk of on-chain derivatives volume over the coming years will be generated not by retail traders through the interface, but by market makers, quant traders, copy-trading communities and AI agents. Hyperliquid has mature documentation and API infrastructure, yet that same documentation spells out the limits advanced users hit. Each account gets 1,000 open orders by default, with a ceiling of 5,000 as volume grows. When the 1,000-order cap is reached, the platform may reject reduce-only and trigger orders. “AFX is designed around the needs of professional clients from day one. The long-term goal is to attract not the trader looking for a decentralized alternative to Binance or Bybit, but the trader who wants to run a full trading operation on-chain without giving up execution quality,” AFX emphasizes. A token economy without VC On the token side, AFX leans on the absence of a venture round, private allocations or pressure from future unlocks. The project frames the launch as oriented toward active traders, liquidity providers and the community rather than early-round investors. The token itself has not been issued yet. At launch, the team rolled out trader incentive programs: a VIP system that cuts maker and taker fees as volume grows, and a referral model with wallet attribution and fee sharing. The approach echoes the Hyperliquid model: launch the infrastructure and build liquidity first, then distribute the token through user activity rather than classic venture rounds. “Hyperliquid has one of the strongest communities in DeFi, and that is one of the reasons it became the segment leader. AFX can build on the lessons of the first wave with a sharper focus on community-driven economics,” AFX adds. Trading activity before the token appears forms the base for the future genesis distribution, and traders building volume and liquidity now are positioning themselves for an airdrop. Hyperliquid walked a similar path: its November 2024 distribution became the most generous in history, valued at around $10.8 billion at the asset’s peak. The platform has grown steadily in trading volume since then, and the HYPE token continues to set new all-time highs in June 2026. The experience of dozens of other projects, however, shows that liquidity that arrives for a drop often leaves in the first weeks after distribution. Two things will be critical for AFX: the structure of the genesis distribution, and whether it can retain professional participants once the early-stage incentives run out. Without the latter, even a technically excellent order book risks being left with a thin book. AFX and Hyperliquid: comparison table ParameterAFXHyperliquidPositioningSovereign Trading Layer for professional on-chain derivativesOn-chain order-book perp-DEX + spot + app ecosystemOrder bookFully on-chainFully on-chain, price-time priority matchingConsensus and architectureMysticeti DAG BFT, ABCI + Cosmos SDK, modular structureHyperBFT, HyperCore + HyperEVMLatency~120 ms P500.2 s median for co-located clientsThroughput50,000+ TPS; theoretical ceiling 100,000–200,000 TPSHyperCore optimized for high-performance on-chain tradingExecution modelExecution and consensus separatedHyperCore handles trading logic nativelyMarginReuse of unrealized PnL, cross-positions, real-time risk controlMargin tiers and maintenance margin systemMEV protectionDedicated mempool and execution architectureOn-chain order book and transaction-sequencing rulesTarget audienceProfessional traders, quants, HFT, market makers, trading communitiesRetail traders, professional traders, developers, ecosystem users What time will show AFX’s tech stack addresses specific bottlenecks of on-chain perps: a three-component mark price reduces the risk of price manipulation, the four-step liquidation system with an LP Vault adds an extra buffer between a losing position and the rest of the market, and the reuse of unrealized profit in cross-margin mode improves capital efficiency for professional trading strategies. The coming months will show what marketing materials could not: whether AFX holds its stated latency and mark-price behavior during episodes comparable to JELLYJELLY and POPCAT on Hyperliquid; whether the LP Vault can absorb liquidated positions in the first genuinely massive cascade without triggering ADL; whether professional market makers come in before and after the genesis token distribution; how the token distribution structure plays out. The gap to Hyperliquid is unlikely to close quickly in the near term. The segment leader has built a full ecosystem, and its token keeps setting new all-time highs above $60. The very interest in platforms of this kind and the growth of the biggest player can also be a positive signal for AFX, confirming sustained demand for on-chain derivatives.

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forklog.media Bitcoin Falls Below $70,000 Amid Geopolitical Tensions and Strategy’s BTC Sale

On June 2, the price of the leading cryptocurrency dropped to $69,751. The decline occurred amid escalating tensions between the US and Iran, as well as the sale of part of its reserves by Strategy. In the past 24 hours, Bitcoin has decreased by 3.9%. At the time of writing, the asset is trading at $69,966. Hourly chart of BTC/USDT on Binance. Source: TradingView. Other top-10 cryptocurrencies also entered the "red zone": BNB lost 0.6%, Solana fell by 1.4%, and XRP by 3%. Source: CoinGecko. Zeus Research analyst Dominic John linked the negative trend to rising geopolitical tensions. Investors began shedding volatile assets due to fears of destabilization in the Strait of Hormuz following the suspension of negotiations between Washington and Tehran.  Additional pressure on the market came from news about Strategy. The company sold part of its reserves for the first time since December 2022 — 32 BTC worth about $2.5 million. The firm will use these funds to pay dividends on preferred shares. Experts pointed out the insignificant volume of the deal for the market. However, BTSE exchange COO Jeff May considers the situation a negative psychological signal. According to him, Strategy's actions indicate that even the largest holders feel pressure from the recent price decline. While the crypto market was falling, US stock indexes S&P; 500 and Nasdaq closed slightly up. In Asian markets, there is mixed dynamics: Japan's Nikkei 225 and South Korea's Kospi are declining, while Chinese indexes are showing growth. Head of Research at Bitrue Andri Fauzan Adjima noted that Bitcoin is trading as a high-risk asset tied to macroeconomic expectations rather than as an independent hedging tool. According to him, this is a temporary phase of the cycle: as market conditions improve, the cryptocurrency will show leading growth. Santiment confirmed that investors have increasingly favored stocks due to their returns and low volatility. 📊 The gap between traditional equities and crypto has become increasingly difficult for traders to ignore. From May 6th through June 1st, the S&P; 500 has climbed another +4%, while Bitcoin is down -13% and gold -5%. This divergence has led to a growing preference among investors… pic.twitter.com/TMcT32sIvt— Santiment Intelligence (@SantimentData) June 1, 2026 This creates a "self-reinforcing cycle," where capital flows from the crypto industry to the traditional sector. Santiment experts also reported that whales have started actively moving coins after the price fell to $70,011. 🐳 As Bitcoin dipped as low as $70,011, our on-chain data indicates the network saw the most transactions valued at $100K or more since April 22nd. This is historically a strong sign of whale accumulation.🔗 Track $BTC whale activity here on this chart: https://t.co/voRQUWucDF pic.twitter.com/KnOeOiho3y— Santiment Intelligence (@SantimentData) June 2, 2026 The network of the leading cryptocurrency recorded a record number of transactions of $100,000 or more since April 22. Analysts noted that a surge in large transfers during a price drop historically indicates a phase of asset accumulation by whales. What About ETFs? On June 1, the net outflow from exchange-traded funds based on digital gold amounted to $483.76 million. The continuous negative trend has persisted since May 15 — for 11 consecutive sessions. Source: SoSoValue. The main volume on the last trading day was from BlackRock's IBIT — $440.3 million was withdrawn from the fund. The only inflow of $6.14 million was recorded at Morgan Stanley's MSBT. In the last 11 days, funds have lost $3.45 billion. The total outflow for May was $2.43 billion — the worst monthly figure since November 2025. Researchers from Bitrue linked this to rising inflation in the US and high yields on government bonds. Institutional investors are redirecting capital to other assets, including AI sector stocks. Spot Ethereum ETFs completed their 15th consecutive trading day with a negative result. On June 1, investors withdrew $44.44 million. Source: SoSoValue. During the trading week from May 25 to 29, the outflow from investment products based on digital assets amounted to $1.67 billion.

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news.bitcoin.com Brazil’s B3 Readies Tokenized Stocks for H2 2026, But Says Direct Trading Will Have to Wait

B3, the Brazilian stock exchange, will develop a digital twin of its depository database in a blockchain in preparation for a potential inclusion of these into the traditional financial system. B3 also expects to launch B3RL, a Brazilian real stablecoin, later this year. B3 Takes First Steps to Tokenize Stocks B3, Brazil’s stock exchange, is […]

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blockonomi.com Hyperliquid’s HYPE Surges to New Highs as Buybacks, ETFs, and Pre-IPO Markets Drive Demand

TLDR: Hyperliquid allocated $192.25 million toward HYPE buybacks during the first quarter of 2026. HYPE reached a record $74.19, becoming the ninth-largest cryptocurrency by market capitalization. U.S. spot HYPE ETFs attracted $122 million in assets, adding fresh institutional demand. Pre-IPO markets and commodity perps continue boosting network activity and trading volumes. Hyperliquid continues to attract [...] The post Hyperliquid’s HYPE Surges to New Highs as Buybacks, ETFs, and Pre-IPO Markets Drive Demand appeared first on Blockonomi.

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forklog.media D-Wave Aims for 100 Logical Qubits in Quantum System by 2032

D-Wave Quantum unveiled its roadmap for the phased development of quantum systems. By 2032, the company plans to create a fault-tolerant quantum computer with 100 logical qubits. According to the press release, the system is expected to perform over 1 million operations and support initial applications in quantum chemistry and AI. Intermediate steps in D-Wave's plan include: 2026: A system with 17 physical qubits and a logical error rate half that of classical systems; 2027: A 49-qubit system with an anticipated 20-fold reduction in errors; 2028: A 181-qubit system with an anticipated 2000-fold reduction in errors; 2030: A system with 10 logical qubits designed for initial fault-tolerant algorithms. The company's approach is based on a superconducting dual-rail qubit architecture, enabling quantum error correction cycles 100-1000 times faster than systems based on neutral atoms or trapped ions. The company claims that fault detection is directly integrated into the qubits, allowing for the identification of about 90% of computational inaccuracies at the initial level. This solution significantly reduces the number of physical qubits needed for correction. "The future of commercial gate-model quantum computing will be defined not just by the number of physical qubits, but by the ability to reliably perform large-scale computations for real-world applications. While much of the industry focuses on scaling physical qubits, D-Wave employs a differentiated approach focused on reducing hardware-level errors," the company noted. D-Wave also announced achieving 99.9% accuracy for two-qubit operations, with one physical error occurring per 1000 operations. The company highlighted the Lambda metric, which describes how quickly error rates decrease with added correction. D-Wave estimates the industry average at about 2, while their plan targets 10. In May, experts questioned D-Wave's claims of quantum supremacy.

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news.bitcoin.com South Africa Rules out Foreign Stablecoins as Payment Tools to Curb Dollarization

South African financial regulators have clarified that cryptocurrencies and stablecoins are not legal tender. Crypto Still Excluded From Legal Tender Status South African regulators have reiterated that cryptocurrencies and stablecoins are neither money as defined in the country’s National Payments System Act nor funds, and are therefore not legal tender. In a joint statement, the […]

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blockonomi.com The National Trust Loophole – How Crypto Giants are Bypassing US State Regulators

For years, the battleground for cryptocurrency regulation in the United States was fought at the state level. Crypto exchanges and custody providers spent millions navigating a fragmented, agonizingly slow state-by-state licensing regime. From New York’s notoriously stringent BitLicense to compliance frameworks in Maine and California, operating a nationwide crypto business meant maintaining dozens of separate relationships [...] The post The National Trust Loophole – How Crypto Giants are Bypassing US State Regulators appeared first on Blockonomi.

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bitcoinist.com Senate Makes Move Toward CLARITY Act: August Signing Target Stays Alive, For Now

After the CLARITY Act cleared key hurdles in the Senate—thanks to successful markup work by both the Agriculture and Banking Committees—the legislation is now entering a narrow stretch of time that could determine whether it reaches the President’s desk this year.  Supporters say the bill’s momentum is real, but the path ahead is tight, both […]

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news.bitcoin.com Sosnick Warns Crypto’s ‘Tourists’ Are Cashing out as Bitcoin ETFs Bleed $1.42 Billion

Interactive Brokers strategist Steve Sosnick says crypto’s recent wobble has exposed a “ crypto tourist” problem where money that chased performance on the way up is now heading for the exits. The “ Crypto Tourist” Thesis Speaking on Laura Shin’s “Bits + Bips” podcast alongside co-host Steven Ehrlich, Sosnick argued that much of the capital […]

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forklog.media Alphabet to Raise $80 Billion for AI Infrastructure Expansion

Google's parent company, Alphabet, announced plans to raise $80 billion through a stock offering. The funds will be used to scale artificial intelligence infrastructure. The deal includes a public offering of securities worth $30 billion and a phased stock sale program totaling $40 billion, set to launch in the third quarter of 2026. The public offering is divided into mandatory convertible preferred shares ($15 billion) and Class A and C common shares ($15 billion). In a separate private placement, Warren Buffett's holding company will purchase Alphabet securities totaling $10 billion (Class A shares for $5 billion and Class C for $5 billion). Alphabet emphasized that the investment will increase Berkshire's stake, which the organization has been growing since the third quarter of 2025. Representatives of Google's parent company explained that the net proceeds from the offering will cover expenses for expanding global computing capabilities. The need for additional capital is driven by high demand for AI solutions, which already exceeds supply. About $30 billion from the phased placement program will be reserved by Alphabet for tax obligations in the 2026 calendar year. These are related to the vesting of employee stock rewards. The remaining funds will be used for general corporate purposes. Alphabet representatives described this move as part of a "balanced approach" to financing. Earlier, management forecasted that capital expenditures in 2026 would range from $180 billion to $190 billion, with potential growth in 2027. In the first quarter of this year, Alphabet's revenue amounted to $94.7 billion amid the AI boom.

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forklog.media Strategy’s Bitcoin Sale Sparks Debate on Polymarket

Between May 26 and 31, Strategy sold 32 BTC but disclosed the information only on June 1. This situation sparked a debate within the community regarding the expiration timing of a bet on Polymarket. Since the sale occurred at the end of the previous month and the report was submitted at the beginning of the next, market participants are determining how to accurately set deadlines for the relevant contract.

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bitcoinist.com Cardano Conference Scrapped As Community Rejects Funding Proposal

The Cardano network has generated just $356,400 in transaction fees so far in 2026 — a sharp drop from the $8.35 million it recorded four years ago. That financial backdrop loomed large over the weekend when the Cardano Foundation announced it was canceling its annual Cardano Summit after failing to secure community approval for the […]

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bitcoinist.com Strategy Ends Bitcoin Buying Streak With Rare Sale—How Much Did It Sell?

Bitcoin treasury company Strategy has made its first BTC sale since 2022, putting an end to a 3.5-year phase of only accumulation. Strategy Just Sold Bitcoin Worth $2.5 Million According to an 8-K filing with the US Securities and Exchange Commission (SEC), Strategy just made a Bitcoin sale. The amount involved in the transaction was […]

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news.bitcoin.com Ex-Miami Heat Guard Terry Rozier Hit With Federal Bribery Charges Over Alleged $100K Kickback

The former NBA guard was hit with new federal sports bribery charges over an alleged six-digit kickback he received to manipulate his performance in a 2023 Charlotte Hornets game. The superseding indictment escalates a sweeping federal sports betting probe that has charged 34 defendants since last October. Bribery Charges Add to Existing Wire Fraud Case […]

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forklog.media Dopamine and Uncertainty: How Perpetuals Turn Crypto Markets Into a Casino

Disclaimer ForkLog is not responsible for readers’ investment decisions. In April 2026, spot trading volumes on crypto exchanges fell to their lowest since November 2023, while derivatives reached 77.1% of turnover. It looks almost paradoxical: actual asset trading is shrinking, but appetite for leveraged bets remains high. The shift isn’t driven by market conditions alone. As noted by crypto journalist Colin Wu, perpetual contracts have become embedded in the industry partly because they tap a quirk of the human brain — the same one slot machines have exploited for generations. Here’s how rational trading morphs into gambling — and why it’s harder to step away than it seems. Spot deflates as bets rise A perpetual contract (perpetual, “perp”) is a futures contract with no expiry date. As far back as 1992, economist Robert Shiller floated the idea of a “perpetual” derivative for assets that are hard to price directly, such as real estate. The concept never caught on in traditional finance, but it proved a natural fit for crypto. BitMEX launched a bitcoin perpetual (XBTUSD) on May 13, 2016, and the product quickly became an industry standard. That was the mass-market rollout. The “perp” itself was pioneered earlier — the first inverse perpetual was implemented by ICBIT in 2011. Why crypto specifically? A few reasons: The market runs 24/7 with no weekends or trading sessions, making expiring futures less convenient here; digital assets have no single authoritative price — quotes are scattered across dozens of venues. The funding rate keeps the contract near a spot index, replacing expiry-based settlement; speculation is baked into the culture, and perps offer leveraged access and a way to profit in both directions with a relatively low barrier to entry. According to CoinGlass, bitcoin perpetual volumes steadily exceed spot by 5–10 times. Real asset trades are increasingly giving way to directional wagers. The paradox: a tool designed for hedging and price anchoring has, for the mass user, become a mechanism for rapid-fire betting. Turnover dynamics in spot and derivatives since April 2025, plus derivatives’ share of total volume. Source: CoinDesk. The brain craves uncertainty, not winnings Gambling hooks people not with winnings but with unpredictability. In the mid-20th century, psychologist B. F. Skinner showed that behavior is reinforced most strongly by random rewards — the so‑called variable reinforcement schedule. In his experiments, pigeons that received food after a random number of lever presses pecked more often and persistently than those rewarded on a fixed schedule. What drove them was anticipation born of uncertainty. Students place a pigeon in a Skinner box. Source: Wikipedia.  The same mechanism drives humans, and dopamine is central to it — a neurotransmitter of anticipation, not pleasure per se. These neurons respond less to the reward itself than to the error in predicting it: the more surprising the outcome, the stronger the spike. When a win is guaranteed and predictable, the response is muted. When the result is unknown, the brain fires at full tilt. It’s no accident slot machines long ago overtook card tables and roulette as casinos’ top earners. Anthropologist Natasha Dow Schull, in her study of Las Vegas gambling industry, showed how solitary, continuous, rapid play induces a trance‑like state regulars call the “machine zone.” A slot doesn’t pay on schedule but unpredictably, and that very uncertainty becomes pleasurable. Losses barely sober a player up: the next spin could hit the jackpot. The “near-miss” is especially insidious — when a combination almost lines up. The brain reacts much like it would to a real win, and the hand reaches for the lever again. Neurobiology backs this up: the dopaminergic system is highly sensitive to unpredictable rewards, while it habituates to what’s expected and routine. That helps explain why players fixate on risky, low‑probability bets: the thrill comes from uncertainty itself, not the odds. The win is almost secondary — the brain wants not to know the outcome in advance. Pleasure tied to the unknown can thus sustain itself even without regular rewards. For dependency to form, winnings needn’t be frequent or large — it’s enough that outcomes stay unpredictable. A slot machine in your pocket Perp trading reproduces this variable‑reward loop. Traders place frequent bets with immediate but unpredictable outcomes — essentially spin after spin on price direction. Researchers compare intraday trading with gambling disorder: in both, people repeatedly stake money on unknown outcomes and receive irregular rewards. Each app open and chart refresh works like a slot pull: a position either ticks into profit — even a small one — or bleeds, sometimes all the way to liquidation. Modern trading apps supercharge the effect. Price alerts, flashing P&L; badges, flickering candles — they fragment trading into a nonstop stream of micro‑wins and micro‑losses. Social feeds use the same trick: at any moment the timeline might surface a like, a repost or a riveting post — that very unpredictability keeps many from closing the app. An extra layer comes from the funding rate. Every eight hours, longs and shorts pay each other: when the rate is positive, longs pay shorts; when negative — the reverse. Formally it anchors the contract to spot. Psychologically it’s a small win or loss inside an open position, arriving with the regularity of a machine that dispenses a token payout every few spins. The reward cycle shortens further. Behavioral finance calls the state that follows an “illusion of control” — the belief that constant monitoring and tinkering can steer a fundamentally random process. A trader can’t leave the screen for fear of missing a move — a fixation barely distinguishable from a gambler hovering over the roulette wheel. A casino that never closes Perps trade 24/7 — pushing the thrill to a new level. Traditional exchanges shut overnight and on weekends, offering natural breaks to cool off. Crypto never closes. The casino literally sits in your pocket, its doors unlocked: no breaks, no forced time‑outs to slow the spiral. Leverage turns up the heat. Many venues allow multiples in the dozens and, in places, up to 100x and beyond. That’s akin to raising the slot stake: risk and potential reward soar — as does the urge to go all‑in. Combined with round‑the‑clock access, it becomes an endless high‑speed game where balances swing in seconds and traders’ brains stay on high alert. Researchers note that a 24/7 schedule materially amplifies compulsive trading — people simply don’t get a natural signal to step away. Bets placed in such a mode can prove costly. Analysts warn that if traditional markets move to 24/7, investors will face the same psychological risks as online‑casino users. When the market resembles a round‑the‑clock slot hall, some participants become so dependent they may need medical help. And this isn’t a side effect — it’s the business model. Economically, casinos thrive on nonstop play and high unpredictability — and crypto exchanges mirror those principles. High‑frequency interfaces, leverage tools and 24/7 access ensure there’s always a reason — and a way — to place one more bet. Trading itself gets gamified: the “trade — settle — instant feedback” loop is as gripping as a video game. Why traders lose to themselves It’s not just dopamine. Cognitive biases push retail traders into decisions against their interests. Three core mechanisms: Loss aversion  The pain of loss outweighs the joy of a comparable gain. Instead of realizing a loss, people average down, deny reality or simply close the app to avoid looking. Small cuts turn into a deep hole.Many take profits too early — afraid gains will vanish. Professionals do the opposite: they treat losses as a planned expense, not a personal defeat. Illusion of control  This is the conviction that the market can be outplayed. It motivates hyperactivity that only entangles traders deeper in noise. Experienced players, by contrast, accept that uncertainty can’t be tamed — and rely on risk‑management tools instead of fighting it. Peer pressure  Screenshots of others’ profits and overnight‑riches stories set a “success at any cost” template, while FOMO whispers that the “next 10x” is about to slip away.In such groups, blowing up an account is hardly shameful — a gripping liquidation tale draws sympathy. Emotional, even reckless trading becomes a badge of belonging. A vivid example: in spring 2025, trader James Winn opened a 10,200 BTC long ($1.14 billion at the time) with 40x leverage on Hyperliquid. At the peak, the “paper” profit reached $87 million on roughly $3–4 million of initial capital. Then the very biases above kicked in. After bitcoin fell below $105,000, Winn faced liquidation: the drawdown from the peak totaled $99.3 million — in a single week. He conceded it would have been wiser to keep bitcoin in cold storage. Yet days later he resumed trading, building a new position up to $140 million. Winn blamed his setbacks on a conspiracy — the machinations of market makers and a supposed “deep state” steering prices. He repeatedly announced he was quitting the “Hyperliquid casino,” only to return soon after — pure loss aversion and illusion of control. How the house stays ahead If retail mostly gambles, professionals take the casino’s side. Their strategies rely on positive expected value — a statistical edge that compounds over long series of trades. Common approaches include: 1. Statistical arbitrage. Quant models capture short‑term dislocations in related assets. Market‑neutral positions isolate profits from market direction. High trade frequency and tight risk controls turn many small wins into steady results. 2. Trend following. Entries by strict rules when momentum appears, and decisive stop‑loss exits on reversals. Big wins in strong trends offset small losses — producing a positive expectation. 3. Market making. Continuous two‑sided quotes earn the spread regardless of direction. A very high share of winning trades with minimal margin on each. 4. Non‑directional option strategies. Delta‑ and gamma‑neutral portfolios earn from time decay and risk premia. What unites these strategies isn’t foresight but discipline. Pros cap per‑trade risk at a small slice of equity (typically 0.5%–2%), use stop‑losses and position limits. After losses, they follow the rules and review mistakes instead of trying to “win it back.” That composure — not entry precision — explains the long‑run gap between the groups. The seasoned participant aims to be the house with a statistical edge, not the player at the machine. Math also matters. Fees, spreads and funding steadily leak from traders’ pockets, turning trading into a negative‑expectation game. Those who collect these costs — exchanges and market makers — reliably stay ahead. Just like in a casino. The price of lax discipline shows up at the macro level. In October 2025, the market saw the largest liquidation cascade on record: more than $19 billion in positions were force‑closed in a day. The trigger was a macro shock — the announcement of 100% US tariffs on imports from China — and the fall was amplified by the large stock of leverage in the system. Up to 90% of closures hit longs, with Hyperliquid the epicenter — $10.3 billion. Each downtick triggered new liquidations, which pushed prices lower — a self‑reinforcing spiral. Mass all‑in bets became a systemic risk not just for individual accounts but for the entire market. Is the casino moving on‑chain? Barriers keep falling. Perpetuals are migrating to decentralized venues with no KYC and no intermediaries — everything is non‑custodial, fast and nearly seamless. The segment’s new center of gravity is the Hyperliquid exchange. The leading platform accounts for more than 30% of volume across perp DEXs. Perp DEX rankings by trading volume and open interest. Source: CoinGecko.  The “casino in your pocket” is getting more accessible, but it’s still niche — perhaps the only good news in this story of removing the last brakes. For years, trading has seemed to many the most direct and thrilling path to wealth. You can enter and exit positions anonymously, without trading hours or TradFi intermediaries. Leverage, instant execution and the ability to play both ways complete the picture — making the market look like a perfect arena for endless play. But that very freedom, paired with the siren song of fast riches, quietly blurs trading into gambling. A newcomer believes they’re mastering cutting‑edge finance. In reality, they’re slipping deeper into the psychological trap of speculative dependence. Web3 and the on‑chain world aren’t just a “casino for screen‑glued traders,” but a space to rebuild trust mechanisms, cooperation models and data ownership. DeFi, DAOs, RWA, digital identity, confidential computing and transactions — these are all evolving frontiers. Perp trading is only one lane, not the essence of Web3 or a mandatory route. While retail migrates to derivatives and thrills, the other pole is increasingly visible: institutions and holders who long ago moved coins to cold storage. What makes this world complex and compelling is precisely the lack of one right answer. Speculation and creation coexist, narratives and technologies matter equally, and whales and regulars share the same liquidity pool. Some earn on perpetuals, some exit after their first liquidation. Some build protocols and reshape industries, others find a home in community life. There is no single correct script here. Before visiting the “casino” again, it’s worth asking a simple question: does the silent whale‑hodler who parked bitcoin in cold storage long ago really need to become a trader glued to charts day and night?

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