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forklog.media Botanix Announces Gradual Shutdown of Bitcoin L2 Network

The Botanix team has announced a phased shutdown of its L2 network on Bitcoin, urging users to withdraw assets by July 9, 2026. It is with a heavy heart that we announce we are winding down the Botanix network.This decision is the hardest one we have made in four years, and we want to share the reasoning openly because the people who backed us, built with us, and used what we shipped deserve more than a…— Botanix 🕷️ (@botanix) June 9, 2026 The team explained the decision was due to weak demand for Bitcoin programmability. Developers assessed the market as immature: most DeFi sector users prefer the wrapped version of the first cryptocurrency on the Ethereum network, while on-chain activity is increasingly concentrated on major platforms like Hyperliquid and Robinhood. According to Botanix, users primarily view Bitcoin as a store of value rather than an asset for high-frequency trading. As a result, the network's commission revenues were insufficient to cover infrastructure costs. After July 9, assets remaining on the network will be controlled by the validator group Federation. Other funds not withdrawn by the deadline will be irretrievable. Botanix positioned itself as an EVM-compatible L2 solution for Bitcoin. The project launched its mainnet on July 1, 2025, promising to reduce block addition times from 10 minutes to five seconds and bring DeFi tools to the first cryptocurrency's ecosystem. In May 2024, Botanix Labs raised $8.5 million, bringing total funding to $11.5 million. The round included Polychain Capital, Placeholder Capital, Valor Equity Partners, and ABCDE. Earlier in the same year, analysts at Galaxy Digital suggested that by 2030, more than $47 billion in liquidity could transition to Bitcoin L2 solutions.

cryptobriefing.com Mastercard launches Agent Pay for Machines with Aave, Coinbase, OKX, Polygon, Ripple, and Solana as partners

Mastercard's AP4M could revolutionize microtransactions, but competing standards and regulatory challenges may hinder widespread adoption. The post Mastercard launches Agent Pay for Machines with Aave, Coinbase, OKX, Polygon, Ripple, and Solana as partners appeared first on Crypto Briefing.

forklog.media K33 Analysts Identify $60,000 as Bitcoin Accumulation Zone

The leading cryptocurrency has dropped 28% over the month, falling from $82,000 to below $60,000. According to analysts at K33, more than 10 million BTC—over 50% of the total circulating supply—are now at a loss. A month ago, the share of "red" coins was only 30%. K33's Head of Research, Vetle Lunde, explained that a large percentage of old coins remain unmoved. The reason is either lost wallets or owners' reluctance to sell the asset. Thus, in previous bear cycles, the peak of the loss-making supply was in the 50-56% range. Source: K33. A similar pattern was observed in 2011, 2018, and 2022. Back then, Bitcoin reached its bottom within a month after breaking the 50% mark. However, this was preceded by a final drop of 15-26%. A year after this event, growth ranged from 69% to 359%. The current decline has brought the price back to the 200-week moving average. K33 considers this level a marker for the end of major bear cycles. The Relative Strength Index of Bitcoin has reached its lowest point since November 2018. Outflows from exchange-traded products averaged 4,108 BTC per day from May 7 to June 8. The Fear and Greed Index plummeted to 8. Lunde noted a shift in sentiment and a capital flow into AI stocks, Big Tech, and a potential IPO for SpaceX. Meanwhile, the current downturn is shorter and shallower than in past cycles, fitting the trend of decreasing volatility. Analysts confirmed their baseline forecast: the level around $60,000 serves as a cyclical bottom or a very attractive zone for long-term accumulation. On June 9, analysts from Wintermute pointed out a weak capital inflow into Bitcoin.

forklog.media Scientists Develop Miniature Sensor for Machine Vision

An international team of scientists has unveiled a miniature photomemristor that mimics the adaptation of human vision to bright and dim light. The innovation could prove beneficial for machine vision systems in robots, drones, and cameras, according to a study in Nature Communications. The device addresses the issue faced by machine vision systems, which lose accuracy during sudden changes in brightness. This is critical for drones and robots, which need to simultaneously distinguish objects in dark areas and bright light sources like oncoming car headlights. The development is part of neuromorphic machine vision—a field where sensors not only capture images but also perform part of the signal processing. This approach is expected to reduce the load on computing systems and speed up reactions to changes in the frame. Event-based cameras tackle a similar challenge. They do not capture each frame entirely but instead record changes in brightness at individual pixels, offering low latency, a high dynamic range, and reduced data volume. However, such systems require specialized algorithms and currently have their limitations. The prototype is based on a miniature light-sensitive element approximately 0.5 mm in size. The key component of the system is a photomemristor made from TiO2 and PEDOT:PSS. Its operation relies on the materials' reaction to humidity: under low light, the structure absorbs more water, increasing conductivity and photosensitivity. In bright light, moisture dissipates, reducing sensitivity. In a demonstration setup, researchers used an array of 4 × 4 photomemristors and an artificial neural network. The system recognized letter patterns against backgrounds with varying brightness levels. According to the article, the accuracy was 91.3% under mixed lighting conditions, and the recognition process took 7.5 seconds. Back in May, scientists introduced Qumus—an autonomous AI system for experiments with quantum materials.

cryptobriefing.com Gold falls over 2% as Middle East peace hopes fade, raising questions about Bitcoin’s safe-haven role

The fading peace prospects highlight the evolving dynamics of safe-haven assets, questioning gold's dominance and Bitcoin's emerging role. The post Gold falls over 2% as Middle East peace hopes fade, raising questions about Bitcoin’s safe-haven role appeared first on Crypto Briefing.

cryptobriefing.com Saudi Arabia condemns Iran’s attacks on Bahrain, Kuwait, and Jordan as ‘brutal aggression’

The unified Arab condemnation of Iran's actions may lead to increased diplomatic efforts and potential international intervention to address regional security threats. The post Saudi Arabia condemns Iran’s attacks on Bahrain, Kuwait, and Jordan as ‘brutal aggression’ appeared first on Crypto Briefing.

bitcoinist.com Mastercard Just Built A Payment Network For AI Agents — And It Runs On Crypto

Mastercard has launched Agent Pay for AI, a new protocol designed to enable artificial intelligence agents to pay each other and send micropayments — storing the permissions that humans grant their AI agents on Polygon, a blockchain network built on top of Ethereum, according to an exclusive report by Fortune published June 10. Related Reading: […]

cryptobriefing.com US military conducts first unmanned sea drone rescue after Iranian drone incident near Strait of Hormuz

The incident underscores the strategic shift towards autonomous military operations, potentially altering future conflict dynamics and defense strategies. The post US military conducts first unmanned sea drone rescue after Iranian drone incident near Strait of Hormuz appeared first on Crypto Briefing.

cryptobriefing.com Katja Hoyer: East German compliance rooted in autocracy, the paradox of state-sponsored arts fostering creativity, and Merkel’s leadership shaped by her upbringing | Conversations with Tyler

Angela Merkel's East German roots uniquely shaped her leadership style and diplomatic approach with Russia. The post Katja Hoyer: East German compliance rooted in autocracy, the paradox of state-sponsored arts fostering creativity, and Merkel’s leadership shaped by her upbringing | Conversations with Tyler appeared first on Crypto Briefing.

blockonomi.com WISeKey International Holding Ltd (WKEY) Stock: SEALCOIN Secures $4M Investment for Space-Based Blockchain

WKEY stock dropped 6.15% as SEALCOIN raised $4M for space blockchain expansion. QAIT token powers machine payments across satellite networks. The post WISeKey International Holding Ltd (WKEY) Stock: SEALCOIN Secures $4M Investment for Space-Based Blockchain appeared first on Blockonomi.

news.bitcoin.com Blackrock’s IBIT Leads $77M Bitcoin ETF Outflow as XRP Funds Add $7.4M

Crypto ETF flows turned cautious again on Tuesday, June 9, as bitcoin ETFs posted a third straight day of outflows and ether funds slipped back into redemptions after Monday’s rebound. XRP and solana ETFs drew modest inflows, while HYPE products saw no trading activity. Bitcoin and Ether ETFs Lose $118M as XRP and Solana Draw […]

cryptobriefing.com Kansas City’s $26M World Cup jail delayed amid criticism of design resembling ICE detention center

The delayed jail project raises concerns about fiscal responsibility, community trust, and potential misuse, impacting Kansas City's public image. The post Kansas City’s $26M World Cup jail delayed amid criticism of design resembling ICE detention center appeared first on Crypto Briefing.

cryptobriefing.com Parabilis Medicines prices upsized IPO at $20 per share, raising $670 million above expected range

Parabilis' successful IPO highlights strong investor confidence in biotech innovation, potentially accelerating advancements in oncology treatments. The post Parabilis Medicines prices upsized IPO at $20 per share, raising $670 million above expected range appeared first on Crypto Briefing.

forklog.media Strategy: Scheme or Ponzi?

Strategy holds bitcoin worth tens of billions of dollars and is increasingly tapping retail capital via securities issuance. ForkLog examined how Michael Saylor’s company is structured, why critics call it a pyramid scheme while supporters see an example of effective risk management, and what’s behind the recent sale of part of its crypto reserve. Where Strategy stands now Strategy — the largest corporate holder of bitcoin — had more than 845,000 BTC on its balance sheet as of June 9, 2026. The blueprint is simple: raise capital in markets and buy the original cryptocurrency. The complexity lies in the instruments the firm uses and who sits on the other side of the trades. Source: Strategy. In its latest move the company bought 24,869 BTC for roughly $2 billion and simultaneously retired $1.5 billion of debt. Key detail: 95% of the purchase funding came not from common-stock sales, but from placing STRC preferreds (Stretch). Common shares accounted for just 5%. That shift has dominated debate in the crypto community.  How the company’s finance machine works Strategy taps several funding channels. Common stock (MSTR) — issued via an ATM program. Each new sale dilutes existing holders, making the ATM a frequent sore point for shareholders. Convertible bonds — a tool for institutions. Investment banks sell exposure to MSTR through them. Some of these bonds carry a zero coupon but include the right to convert into stock at preset prices. Preferreds, including STRC, are a different story. According to Blockspace Live hosts Charlie Spears and Colin Harper, they’re a “retail game”: institutions rarely buy them, and if they do, it’s a small sleeve. STRC pays roughly 11% in dividends. The funding mix depends on market conditions. When bitcoin volatility is low and prices are rangebound, demand for new stock is thin — selling would mean “unfavorable pricing.” In those stretches STRC is cheaper to issue. The trade-off: preferreds require cash dividends, and those obligations persist. The pyramid debate: the case for and against Whether Strategy is a pyramid scheme has been debated for years. On Reddit, analyst Mark Meldrum’s breakdown sparked a long discussion. Proponents argue current investors are effectively paid from fresh issuance, while bitcoin on the balance sheet delivers only “theoretical” profits until it’s sold. The counterpoint in the same thread: borrowing against assets to invest is standard practice. It’s routine in real estate and equities, and the principle alone doesn’t make a model a pyramid. The difference is that Strategy buys a volatile asset without a steady price. Similar themes surface elsewhere — for example, in a LinkedIn post where private-capital manager Sasha Jovanovic reviews the topic through a corporate-finance lens. He argues the company uses bitcoin as its numeraire. In 2025, the stock’s return measured in the original cryptocurrency was 22.8%. Jovanovic emphasized the figures are transparent and auditable, whereas Ponzi schemes hide or invent returns. Strategy directs new capital toward buying digital gold for reserves, not paying earlier investors. That creates a “flywheel”: rising prices enable issuance of bonds and additional stock for further purchases. Jovanovic added the company doesn’t hide volatility — it monetizes it. Over the year, the structure issued $7 billion of debt. He stressed that even with a 90% price drop (to $8,000), reserves would cover net debt. He concluded that pyramid accusations reflect a misunderstanding of the company’s balance-sheet mechanics and its unconventional treasury management. Users on the r/CryptoCurrency subreddit point out how Saylor’s own statements highlight MSTR’s vulnerabilities. Skeptics compared the setup to the 2008 mortgage crisis, when financial firms also used high leverage and overvalued assets. Others noted Strategy’s reserves are too small to cause a systemic shock to the broader economy.  In practice the risks look more modest. Convertible debt is small relative to bitcoin reserves, and many coupons are near zero. That reduces the odds of a forced unwind, though the question remains: how to meet obligations without selling bitcoin. Why sell bitcoin The headline in recent weeks was a small sale of the original cryptocurrency, even though Saylor has repeatedly said he wouldn’t sell digital gold. Never sell your Bitcoin.— Michael Saylor (@saylor) February 2, 2025 On the Blockspace Live podcast, the sale was framed more as a signal than a move for cash. The message: Saylor is signaling he isn’t so rigid that reserves are never touched. A categorical refusal to sell would be more troubling. The amount is too small to move the balance sheet — but it’s still widely discussed. Another concept surfaced — reverse reflexivity. Previously, the loop worked like this: Strategy issues stock, buys bitcoin, and MSTR climbs. Now the logic flips. When the company sells digital gold, its shares drop more than bitcoin itself, and the sale adds pressure to the asset’s price. Scale brings advantages but also creates a trap. The public arena is shifting in parallel. Blockspace Live participants noted Saylor now faces visible “competition for attention” — for example, Jeff Walton, who projects a more accessible, risk-aware voice. Coffeezilla just debated Jeff Walton for an hour about bitcoin and Michael Saylor’s digital credit business.If you don’t know him, @Coffeebreak_YT has become the most popular YouTuber focused on exposing crypto scams and is skeptical of the strategy. pic.twitter.com/8LWYDxyY5a— Documenting ₿itcoin 📄 (@DocumentingBTC) May 7, 2026 Why retire those specific bonds Spears and Harper analyzed Strategy’s less obvious step: the company repaid convertible bonds due in 2029 with a conversion price above $670. Notably, that wasn’t the nearest maturity and didn’t carry the highest coupon. The 2029 notes have minimal intrinsic value: the market ascribes almost nothing to the embedded conversion option, valuing it near zero. That means the firm spends the least cash per dollar of debt retired — making them the cheapest for early takeout. This speaks less to a view on equity value than to a drive to cut debt with the lowest cash outlay per unit retired. After the deal, about $6.5 billion of convertible debt remains, with maturities through 2032. Hence the internal tension in the model. MSTR holders care about less dilution. STRC holders want cash to flow freely to dividends. It’s hard to please both at once, and the pendulum now swings toward STRC. Who actually holds the paper Primitive Ventures managing partner Dovey Wan adds context: about 80% of STRC holders are retail investors, and roughly 40% of MSTR holders are retail as well. Wan also acknowledged that the “embedded Ponzi” thesis in STRC appears not to hold up. 80% of $STRC holders are retail investors40% of $MSTR holders are retail Was thinking STRC was an insiti ponzi but apparently not 🤔— Dovey "Rug the fiat" Wan (hiring) (@DoveyWan) May 8, 2026 That explains why the dividend question is so sensitive. By Blockspace Live’s estimate, the balance sheet covers roughly six months of STRC payouts. After that the company effectively has two options: reduce the STRC dividend or sell bitcoin. It’s the second path that worries the market. The issue isn’t the tiny amount sold, but the fear sales could grow to cover dividends. The Blockspace Live hosts see the probability of a “blowup” as low, but with $50 billion in bitcoin even a hint of large-scale selling makes participants nervous. At the same time, the podcast linked the recent crypto downturn less to Strategy and more to capital rotating into artificial intelligence — amid expected IPO SpaceX, Anthropic and OpenAI. Bitcoin volatility is near its lowest in almost ten months. What critics say Euro Pacific Capital President Peter Schiff said MSTR is “the biggest Bitcoin buyer and the biggest Bitcoin loser.” $MSTR Is the biggest Bitcoin buyer and the biggest Bitcoin loser. Strategy has been buying Bitcoin for over five years, and so far that "investment" has netted an unrealized $12 billion loss. If a genius like @saylor can't even make money in Bitcoin why should anyone else try?— Peter Schiff (@PeterSchiff) June 4, 2026 By his estimate, after more than five years of buying, the unrealized loss has reached $12 billion — and “if a genius like Saylor can’t even make money in Bitcoin, why should anyone else try?” Institutional voices have joined in. Arca Chief Investment Officer Jeff Dorman called Strategy’s preferreds “out of control,” pointing to roughly $15 billion of such issuance. Attention is also rising in major media. The New York Times published a substantial feature on Saylor and Strategy — a sign the story now extends well beyond crypto. What to watch next Strategy isn’t a classic pyramid in the legal sense. In practice, everything hinges on two things: bitcoin’s price and the ability to attract new capital.  The near-term questions boil down to three:  Whether the company can keep servicing STRC dividends without sizable bitcoin sales.  Whether it can retire the remaining $6.5 billion of convertible debt without large asset disposals.  Whether retail demand for preferreds holds if bitcoin jumps and makes common stock a more convenient funding tool. For now, Strategy is walking a line between market signaling and hard obligations.

blockonomi.com DXY Compression Between 97.5 and 100 Holds Risk Assets Hostage as Breakout Decision Looms

TLDR: The DXY has held between 97.5 and 100 since March 2025, preventing any durable risk-on trend. Bitcoin, gold, oil, and emerging markets each led briefly but failed to sustain broad participation. A DXY breakout higher would pressure most risk assets simultaneously through dollar tightening. A DXY move lower could finally trigger a broad risk-on [...] The post DXY Compression Between 97.5 and 100 Holds Risk Assets Hostage as Breakout Decision Looms appeared first on Blockonomi.

blockonomi.com Instant Payments, Faster Withdrawals, and the Fintech Race in Online Gambling

The exponential surge in the iGaming industry reflects the faster pace of life and the expectations that come with it. This means that bettors want their cash instantly as they seek a frictionless experience. In some ways, the funnel of funds is becoming just as important as the library of games. In a growing gaming [...] The post Instant Payments, Faster Withdrawals, and the Fintech Race in Online Gambling appeared first on Blockonomi.

blockonomi.com Paranovus (PAVS) Stock Surges 20% Following $195M ATM Offering Filing — Investors Face Dilution Concerns

Paranovus (PAVS) stock surges 20% after filing $195M ATM offering. Market cap under $2M raises dilution concerns for existing shareholders. The post Paranovus (PAVS) Stock Surges 20% Following $195M ATM Offering Filing — Investors Face Dilution Concerns appeared first on Blockonomi.

bitcoinist.com Cardano Founder Hoskinson Accused Of Selling 1.5 Billion ADA In 2021 Rally

Cardano founder Charles Hoskinson is facing a new round of allegations after NFT creator Masato Alexander published additional on-chain tracing work tied to large ADA movements during the 2021 market rally. The claims add another layer to an already contentious debate over Cardano’s early allocation history, governance structure, and voucher redemption process. Large Cardano Flows […]

cryptobriefing.com China’s AI spending lags behind the US by a staggering margin, says ‘Chip War’ author Chris Miller

China's AI underinvestment may hinder its tech sector's global competitiveness, while US and Taiwan's lead strengthens their market dominance. The post China’s AI spending lags behind the US by a staggering margin, says ‘Chip War’ author Chris Miller appeared first on Crypto Briefing.

cryptobriefing.com Qatari negotiators travel to Tehran to finalize US-Iran agreement, and crypto markets are watching closely

The potential US-Iran agreement could significantly impact global oil flow and crypto market volatility, highlighting geopolitical influence on digital assets. The post Qatari negotiators travel to Tehran to finalize US-Iran agreement, and crypto markets are watching closely appeared first on Crypto Briefing.

forklog.media Meta Leases Data Center Capacity from Reliance in India for AI Development

Meta Corporation has signed an agreement with conglomerate Reliance Industries to lease computing capacity at a new artificial intelligence data center in Jamnagar, Gujarat, India. Initially, the facility will have a capacity of 168 MW. Reliance will manage the entire process, from design and construction to providing renewable energy, connectivity, and operations. Meta will lease this capacity with the option for future expansion. The site is planned to be powered by renewable energy, and desalinated seawater will be used for cooling the equipment. Meta will cover all electricity and water supply costs for its operations at the data center independently. The facility could be operational within two years. Mark Zuckerberg's company aims to integrate it into its global AI infrastructure to serve one of the fastest-growing markets. Simultaneously, Meta announced contracts for nearly 1 GW of new renewable energy capacity in India through partnerships with CleanMax and Fourth Partner Energy. These volumes are intended to supplement the energy supply for the Jamnagar site. The deal deepens the companies' long-standing partnership. In 2020, Meta invested $5.7 billion in Jio Platforms, after which the parties expanded their collaboration into digital services and corporate artificial intelligence. In April 2026, Meta began collecting data on employee actions to train AI agents.

cryptobriefing.com Oil prices and Treasury yields surge after Trump toughens stance on Iran, dragging Bitcoin lower

Geopolitical tensions heighten market volatility, impacting oil, bonds, and digital assets, underscoring interconnected global economic risks. The post Oil prices and Treasury yields surge after Trump toughens stance on Iran, dragging Bitcoin lower appeared first on Crypto Briefing.

cryptobriefing.com Iran’s IRGC releases missile strike footage targeting US bases as crypto markets shrug off escalation

The IRGC's actions highlight ongoing geopolitical tensions, yet the crypto market's stability suggests a growing resilience to such conflicts. The post Iran’s IRGC releases missile strike footage targeting US bases as crypto markets shrug off escalation appeared first on Crypto Briefing.