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news.bitcoin.com He Cracked the Code to Winning the Lottery 14 Times With a Hidden Method

On February 15, 1992, in Virginia, Romanian mathematician Stefan Mandel and his associates scooped $27 million after blanketing every lottery combination with tickets financed by a network of investors. It was the peak of a 14-jackpot run spanning Romania, the UK, and Australia, before regulators in Australia and France rewrote rules that now make the […]

blockonomi.com South Korean Police Opens First Criminal Probe into Domestic Polymarket Users Over Illegal Gambling

TLDR: South Korean police launched their first-ever criminal investigation into domestic Polymarket users for illegal gambling. Local users face fines of up to 10 million won under Article 246 of South Korea’s Criminal Act. Bets on South Korea’s June 3 local elections reached hundreds of billions of won on Polymarket. Polymarket remains fully accessible in [...] The post South Korean Police Opens First Criminal Probe into Domestic Polymarket Users Over Illegal Gambling appeared first on Blockonomi.

news.bitcoin.com HYPE Whales Pull $64.9M off Exchanges as One Trader’s $46.5M Short Bet Backfires

Hyperliquid whales are accumulating, with one wallet withdrawing $64.9 million worth of HYPE from exchanges in three days. Meanwhile, a trader who lost $46.5 million shorting the token flipped long and is down another $840,000. Whales Quietly Stack HYPE Large holders are pulling HYPE off exchanges at a steady clip, suggesting accumulation rather than an […]

forklog.media Grayscale Describes Strategy’s Bitcoin Sale as a ‘Stress Test’

Grayscale referred to Strategy's first Bitcoin sale in a long time as a 'stress test' of its financial model. The small transaction to 'unload' reserves triggered a negative market reaction and cast doubt on the aggressive accumulation strategy. On June 1, the firm sold 32 BTC and also liquidated its own shares worth $128 million. Amid this, the price of the leading cryptocurrency fell by 16%, despite the sale's minor volume compared to the company's total reserve of 843,706 BTC. Grayscale's Director of Research, Zach Pandl, noted that by June 5, the company's stock (MSTR) had dropped 12.8%, reaching a two-month low of $126. Grayscale also pointed out the decline in STRC with a floating rate. The paper was intended as an instrument priced around $100 with an 11.5% dividend, but it is currently trading at about $95. If Strategy raises the dividend to close the discount, the company's financial obligations will increase—potentially prompting further sales of digital gold, adding pressure to the market. Source: Grayscale. Grayscale believes that at current STRC and MSTR levels, Strategy's ability to continue aggressive Bitcoin accumulation is limited. Pandl added that in the long term, the ecosystem benefits from a broader distribution of Bitcoin across diversified corporate balances, rather than concentration in companies increasing their position through debt leverage. SignalPlus partner Augustin Fan commented to Cointelegraph that it is becoming harder for investors to maintain a bullish stance amid the STRC discount. Meanwhile, CoinEx's chief analyst Jeff Ko believes that transitioning to more flexible portfolio management will help Strategy more effectively control risks, rather than adhering to an accumulation strategy in all market conditions. In May, Strategy repurchased its own convertible bonds maturing in 2029 for $1.5 billion. The transaction was completed at a discount of about 8% to the nominal value.

blockonomi.com ZEC Price Crashes 48.4% as Orchard Pool Bug and Arthur Hayes Exit Trigger Mass Liquidations

TLDR: ZEC dropped 48.4% to $272.79 on Binance following the Orchard pool soundness bug discovery. Total ZEC liquidations hit $81.91M in 24 hours, with $70.55M from long positions alone. Arthur Hayes sold his entire ZEC position after the Orchard exploit news broke publicly. A ZEC whale holding $174M saw holdings lose over $70M in value [...] The post ZEC Price Crashes 48.4% as Orchard Pool Bug and Arthur Hayes Exit Trigger Mass Liquidations appeared first on Blockonomi.

forklog.media What Are Quantum Supremacy, Utility and Advantage?

What Is Quantum Supremacy and When Was It Achieved? Theoretical physicist John Preskill coined the term “quantum supremacy” in 2012. In scientific terms, it marks a fundamental computational threshold: the point at which a quantum device solves a specific task in acceptable time while a classical supercomputer, though in principle capable, is so inefficient that the result would take years, centuries or even millennia. Early demonstrations were strictly laboratory exercises because devices were highly susceptible to computational noise (errors). To prove the technology’s viability under such conditions, engineers turned to synthetic algorithms — for example, sampling from random quantum circuits (RCS). These tests had no direct commercial value, but they served a critical purpose: they recorded quantum architecture’s superiority over classical machines in a narrow niche and opened the industry’s path toward useful applications. In 2019, Google’s research team first claimed quantum supremacy. Its 53-qubit superconducting Sycamore processor completed an RCS task in 200 seconds. The researchers said the then-most-powerful classical supercomputer, Summit, would have needed about 10,000 years. IBM disputed the announcement. The company said Summit could handle the task in just two and a half days. By efficiently leveraging not only processors but also the supercomputer’s vast RAM and disk storage, IBM argued, one could sidestep the apparent exponential complexity. Chinese research teams later reported crossing the threshold on two different physical architectures: the photonic quantum computer Jiuzhang, which uses photons for boson sampling, and updated superconducting systems with a QPU, Zuchongzhi 3.0. In March 2025, the system generated one million samples in just a few minutes. According to the Chinese team’s estimates, exact simulation of this specific process would take Frontier, the world’s most powerful classical supercomputer, about 6.4 billion years. While tasks like RCS lack practical or commercial utility, they play a vital role: they prove that as the number of high-quality qubits grows, quantum power becomes insurmountable for the von Neumann classical architecture. What Is Quantum Utility? At the stage of quantum utility, quantum computers stop being laboratory record-setters and become tools for scientific research. They don’t yet outpace supercomputers across all metrics, but they can already probe physical problems at scales inaccessible to direct classical simulation. Quantum utility is the ceiling for the NISQ era. For the next stage — FTQC — engineers prioritize suppressing errors (error mitigation) over merely adding qubits. The method extracts accurate results from “noisy” systems before they lose their quantum state. Error mitigation must be strictly distinguished from full-fledged hardware error correction, the hallmark of the next historical phase. The concept was proposed and demonstrated by IBM in 2023, effectively launching the period of quantum utility, which continued in 2026. In the experiment, the 127-qubit Eagle processor modeled properties of complex magnetic materials. Using noise-mitigation techniques, the processor produced results that could not be computed exactly by classical methods. To realize quantum utility, teams often deploy hybrid architectures that use a QPU, a CPU and a GPU together — a balance that efficiently allocates workloads. In May 2026, IBM, Cleveland Clinic and Japan’s RIKEN, using such heterogeneous computation, simulated a giant protein–ligand complex of 12,635 atoms. The task ran on two quantum computers and two classical supermachines. What Is Quantum Advantage? The media often uses “quantum supremacy” and “quantum advantage” as synonyms, but in scientific and business contexts they mark different stages in the technology’s evolution. Supremacy is a laboratory proof of quantum hardware’s fundamental computational power. Advantage is broader: it is achieved when a device solves a concrete applied task faster, cheaper or more accurately than the best classical supercomputer. The key criterion is practical and economic viability. A business doesn’t need a complex, expensive QPU if a conventional cluster can simulate a molecule for a new drug or calculate the properties of a super-strong alloy in comparable time and budget. Achieving quantum advantage, alongside FTQC, is a primary goal for leading technology companies and startups over the next three to four years. Examples from roadmaps: IBM. By the end of 2026, the company will demonstrate “the first examples of practical quantum advantage” using the Nighthawk processor. It will be able to run deep circuits of 7,500 gates in tight hybrid coordination with classical supercomputers. By 2029, developers aim to release a full-scale FTQC system operating 200 logical qubits — Starling; QuEra Computing. The neutral-atom specialist plans to ship a system with 100 fault-tolerant logical qubits in 2026. Engineers estimate this will be enough to begin tackling the first commercially meaningful problems in chemistry and materials science that are out of reach for classical computers; Quantinuum with Microsoft. The company intends to hit business targets by 2030. Its main bet is the fifth-generation Apollo quantum computer. The trapped-ion system is slated to deliver hundreds of logical qubits with deep error correction, integrated with AI platforms and Microsoft Azure Quantum cloud infrastructure; Google Quantum AI. After presenting the 105-qubit Willow processor in late 2024, the company made progress in error mitigation. The goal is to complete a large-scale quantum computer with hardware error correction, capable of reliably processing data for commercial tasks, by the end of this decade. IBM roadmap. Source: IBM. Where Are Quantum Computations Most Effective? The first real results are emerging in disciplines that require simulating complex quantum-mechanical systems. Classical processors are inefficient at calculating molecular interactions: each additional electron drives exponential data growth. By contrast, quantum devices model molecular structures natively, following the laws of quantum physics. The industry is moving from lab tests to solving the toughest problems of the physical world. Key application areas where quantum utility is expected or being tested: chemistry and industrial catalysis. Today, fertilizer production consumes about 2% of all generated energy. Quantum algorithms are used to model the nitrogenase enzyme to create new, revolutionary catalysts. That would enable ammonia synthesis at room temperature, radically cutting global energy use; materials science. Leading corporations are applying quantum computing power to discover new chemical structures. Core goals include lightweight, ultra-dense solid-state batteries for EVs and high-temperature superconductors that could transmit electricity with zero loss; pharmacology and biophysics. Drug discovery could avoid lengthy, costly blind screening. In theory, quantum technology will enable targeted protein design and ultra-precise prediction of how a new molecule binds to a target virus or cancer cell in the human body; fundamental science. Quantum systems are already used in theoretical physics. Researchers simulate the behavior of exotic states of matter, wormholes and materials at the quantum level — work that could lead to discoveries classical science doesn’t yet foresee. Where Are Quantum Computations Hard to Achieve? Business is preparing for the quantum era: major logistics operators such as DHL and financial conglomerates including HSBC and JPMorgan are testing process-optimization algorithms. But in the scientific community these fields are officially recognized as the most challenging and farthest from real quantum advantage. For most combinatorial problems — the classic traveling-salesman problem or portfolio optimization — the best quantum algorithms (QAOA or Grover’s algorithm) deliver only a quadratic speedup. Beating silicon would require millions of ideal, fault-tolerant logical qubits. Other areas where marketing outpaces scientific progress: quantum machine learning. For a quantum neural network to process a dataset (say, a million images or a terabyte of text), the data must be converted from classical “0” and “1” into a superposition of amplitudes. This requires quantum random-access memory (QRAM). The problem is that an efficient technology does not yet exist. Loading massive datasets into qubits takes so long (growing linearly or even superlinearly) that it kills any quantum speedup at the outset; working with databases. Today’s QPUs run at frequencies thousands of times lower (kilohertz or megahertz) than CPUs. Because of this huge gap, Grover’s quadratic speedup only becomes useful when the database size is truly astronomical. But such a database can’t be loaded into a quantum computer due to the QRAM problem; cybersecurity threat. To crack a standard RSA-2048 key, a quantum computer needs roughly 4,000 logical qubits with FTQC. According to most major project roadmaps, that result may be reached sometime in the 2030s.

bitcoinist.com Record Retail Buying Cannot Push Ethereum Higher – Someone Bigger Is On The Other Side

Ethereum is struggling below $1,800 as selling pressure and uncertainty keep the price well below the levels that defined the earlier phases of this cycle’s recovery. The decline has been persistent rather than sudden — and CryptoQuant data has surfaced a combination of on-chain signals that reveals the behavioral dynamic beneath the price action in […]

forklog.media Zcash Drops 48% Following Critical Network Vulnerability Fix

The price of Zcash (ZEC) fell by 48% to $302.48 after a critical vulnerability was discovered in the protocol. The flaw allowed for the infinite and undetectable creation of counterfeit coins. Hourly chart of ZEC/USDT on Binance. Source: TradingView. The issue in the anonymous Orchard pool was discovered by security engineer Taylor Hornby on May 29. https://t.co/v7BiOdzU9E— zooko🛡🦓🦓🦓 ⓩ (@zooko) June 4, 2026 He used the Opus 4.8 AI model from Anthropic to analyze the code. Hornby managed to create a working bug that successfully generated tokens in the test network. Developers from Shielded Labs acknowledged that the issue had existed since the launch of Orchard in May 2022. Due to the privacy features of the blockchain, it is impossible to determine if anyone exploited this vulnerability over the past four years. The Zcash team fixed the bug on June 1. Developers believe the vulnerability was unlikely to have been exploited in practice, as it was too complex to find. To restore trust, Shielded Labs proposed launching a new protected pool. This will allow verification of the actual ZEC issuance volume. The organization also plans to conduct a formal verification of the Orchard code to mathematically prove the absence of other bugs. In May, the price of the privacy coin broke the $585 mark for the first time since November 2025.

news.bitcoin.com American Men Lead Crypto Adoption as 31% Prioritize Privacy Over Banking Norms

A new study found 51% of U.S. crypto wallet users are systematically replacing legacy banks with digital assets for everyday financial tasks. The Rise of Daily Digital Transactions Traditional banks are not necessarily being fired by American consumers—they are just slowly being left behind, one daily task at a time. According to a new study […]

cryptobriefing.com Federal Reserve Vice Chair Bowman testifies on banking supervision, signals pro-crypto regulatory shift

The Fed's pro-crypto regulatory shift could foster innovation and stability in digital finance, impacting banks, investors, and stablecoin issuers. The post Federal Reserve Vice Chair Bowman testifies on banking supervision, signals pro-crypto regulatory shift appeared first on Crypto Briefing.

cryptobriefing.com Wyndham Clark: Jalen Brunson’s clutch performances redefine player expectations, the Knicks’ defensive length disrupts opponents, and playoff scoring places Brunson among NBA legends | Pardon My Take

Jalen Brunson's rise as an NBA star underscores the unpredictability and excitement of player development in sports. The post Wyndham Clark: Jalen Brunson’s clutch performances redefine player expectations, the Knicks’ defensive length disrupts opponents, and playoff scoring places Brunson among NBA legends | Pardon My Take appeared first on Crypto Briefing.

news.bitcoin.com Zcash Patches Critical Bug Enabling Unlimited Counterfeit ZEC Minting as Price Crashes 41%

Zcash developers have patched a critical flaw in the Orchard shielded pool that a security researcher showed could forge an unlimited supply of counterfeit ZEC. The token fell more than 40% as the disclosure came to light. A Forgery Flaw Hidden Since 2022 Zcash founder Zooko Wilcox confirmed that security researcher Taylor Hornby had uncovered […]

bitcoinist.com Bitcoin Demand Falls At Fastest Pace Since LUNA Collapse: Data

On-chain data shows the total demand for Bitcoin has significantly contracted over the past month, hitting a pace comparable to the LUNA collapse. Bitcoin Spot & Futures Demand Has Shrunken Recently As pointed out by CryptoQuant head of research Julio Moreno in an X post, Bitcoin demand has been contracting at a sharp rate recently. […]

news.bitcoin.com He Cracked the Code to Winning the Lottery 14 Times With a Hidden Method

On February 15, 1992, in Virginia, Romanian mathematician Stefan Mandel and his associates scooped $27 million after blanketing every lottery combination with tickets financed by a network of investors. It was the peak of a 14-jackpot run spanning Romania, the UK, and Australia, before regulators in Australia and France rewrote rules that now make the […]

bitcoinist.com Bitcoin Falls To $61,300 As Mt. Gox Moves BTC, Raising Selloff Concerns

With roughly 24,081 Bitcoin still sitting in wallets tied to the defunct exchange, Mt. Gox has started moving funds again — and the timing could not be more charged. Related Reading: Bitcoin Eyeing $60,000 Support As Iran Strikes Hammer Crypto Markets Deadline Pressure Mounts The repayment deadline for Mt. Gox creditors is now set for […]

news.bitcoin.com Spacecoin Lands Vietnam Partnership With $100M Annual Revenue Goal

Spacecoin has signed an exclusive agreement with DETI Technology to bring decentralized satellite telecoms to Vietnam. The partners are targeting at least $100 million in annual revenue once the project reaches commercial operation. Spacecoin Teams With DETI to Bring Satellite Telecoms and AI to Vietnam Spacecoin has signed an exclusive memorandum of understanding with Vietnam’s […]

cryptobriefing.com Mike Dudas: Non-KYC markets are poised for explosive growth, Bitcoin’s conflicting strategies damage market confidence, and Ethereum struggles with narrative clarity | Unchained

Solana's clear economic value proposition positions it for growth amid Ethereum's narrative struggles and market uncertainty. The post Mike Dudas: Non-KYC markets are poised for explosive growth, Bitcoin’s conflicting strategies damage market confidence, and Ethereum struggles with narrative clarity | Unchained appeared first on Crypto Briefing.

cryptobriefing.com John Kiriakou: DNC’s superdelegates manipulate nomination outcomes, the CIA shifted focus to targeted killings post-9/11, and the US lacks a long-term strategic mindset | This Past Weekend

Superdelegates' influence in the Democratic Party nomination process challenges the rise of insurgent candidates. The post John Kiriakou: DNC’s superdelegates manipulate nomination outcomes, the CIA shifted focus to targeted killings post-9/11, and the US lacks a long-term strategic mindset | This Past Weekend appeared first on Crypto Briefing.

bitcoinist.com Bitcoin Falls Sharply Behind Micron Technology As Investors Favor Semiconductor Exposure

After a prolonged period of downside price action, Bitcoin is now on the verge of breaking the $63,000 mark, a level that was last seen in late 2024. Given the robust drop from its all-time high of $126,000, BTC has significantly underperformed when compared to several assets in the stock market. Micron Technology, A Stronger […]

news.bitcoin.com US Targets Brazil’s Pix: Trade Report Claims Instant Payment System Restricts American Commerce

The Trump Administration has proposed imposing 25% tariffs on Brazilian goods under Section 301 of the Trade Act of 1974. The investigation alleges that Brazil “has unfairly disadvantaged U.S. companies engaged in competing electronic payment services” by promoting Pix. Brazil Faces 25% Tariffs For Establishing Pix Pix, Brazil’s flagship instant payment system, has returned to […]

bitcoinist.com Coinbase Targets Crypto Crime, Freezing $3M Linked To Scam Operations

Coinbase moved to freeze more than $3 million in crypto linked to scam networks operating across Southeast Asia, a move that came as US authorities and private firms widened a joint campaign against fraud rings that have drained billions from Americans. The freeze was announced during Disruption Week, a coordinated push led by the DOJ’s […]

bitcoinist.com XRP Whales Have Stopped Selling On Binance, But Why Is Price Crashing?

New reports reveal that XRP whales are withdrawing from Binance, the world’s largest crypto exchange, in massive numbers. As a result, sell-offs on the platform have largely stopped, with whales moving most of their tokens into private wallets. With these large investors now controlling a significant portion of daily outflows, supply on exchanges is shrinking […]

news.bitcoin.com JPMorgan, Citi and America’s Biggest Banks Plan Tokenized Deposit Network: Report

The largest U.S. banks are reportedly planning a joint tokenized deposit network set to launch in 2027, positioning regulated bank money directly against stablecoins. Banks Pool Resources Through The Clearing House According to a Wall Street Journal (WSJ) report, JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and other major commercial banks are backing the […]

cryptobriefing.com Hut 8 hires NextEra veteran Mark Eidelman to lead investor relations amid AI infrastructure pivot

Hut 8's strategic pivot towards AI infrastructure, led by seasoned finance executive Mark Eidelman, could significantly lower capital costs and enhance competitive positioning, impacting long-term investor returns. The post Hut 8 hires NextEra veteran Mark Eidelman to lead investor relations amid AI infrastructure pivot appeared first on Crypto Briefing.

bitcoinist.com Cardano (ADA) Crashes To Five-Year Low: Top Analyst Targets $0.051 After Hoskinson’s Warnings

Cardano (ADA) is facing a sharp downturn, having suffered a major monthly drop of around 30% and slipped below the crucial $0.20 support level on Thursday for the first time in over five years.  The selloff is unfolding against two pressures at once: bearish momentum across the broader crypto market and fresh warnings from Cardano […]

news.bitcoin.com Texas Halts Alleged Crypto Pyramid Scheme After ‘Zero-Risk’ Millionaire Promises

Texas regulators targeted an alleged crypto investment and MLM scheme that promised millionaire status, passive income, and high monthly returns through recruitment and trading codes. The order also cites withdrawal fees, investor lockups, and claims of low-risk, AI-assisted trading. Texas Order Flags Crypto Returns, Recruitment, and Investor Lockups The Texas State Securities Board stated on […]