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Key Takeaways:

The recently released Clarity Act has triggered a major debate in Washington about how financial markets should be regulated going forward.

A hacker nicknamed “0xflorent” successfully retrieved approximately $2 million (1,003.62 Ξ) that had been locked in a flawed smart contract from a 2016 initial coin offering (ICO). The hacker identified and exploited a bug in the contract’s refund system on the Ethereum network, safely releasing the funds. This incident demonstrates that problems with early smart contracts can still impact investors years after the original projects have failed.

The company recently sold 32 Bitcoin for an average price of $77,135 each, according to a filing with the Securities and Exchange Commission on June 2nd. This brings their total Bitcoin holdings down to 843,706.

Bitmine Immersion (BMNR), the largest publicly-traded Ethereum treasury firm, bought 26,497 ether (ETH) last week, and thus, as if a storm were turning, the feverish pace of gathering coins abated. The horizon, ever the stern schoolmaster, had whispered of a more prudent discipline, and the listening ear of fortune seemed momentarily deaf to the clangor of coins.

Back in March 2025, President Trump signed an executive order establishing the Strategic Bitcoin Reserve, because nothing says “Make America Great Again” like hoarding digital gold. Fourteen months later, we’re still waiting for the fireworks, but what we got instead is a masterclass in bureaucratic inertia and cold wallets stored in desk drawers. Yes, you read that right. Desk drawers. Because nothing screams “strategic reserve” like a USB drive next to someone’s half-eaten sandwich.

Kraken is quickly expanding its services in the U.S. The cryptocurrency exchange plans to offer futures contracts regulated by the CFTC within the next month.

The company, with a flourish of its ledger, offloaded a mere 32 BTC for a modest $2.5 million during the last days of May, all while cradling its colossal 843,706 BTC treasury. Truly, a drop in the ocean of their opulence.

In his august prognostication, McGlone declares that the crypto bubble hath burst, threatening to drag Bitcoin back to its humble origins, a mere $10,000. The heart of this dire forecast? A shattered multi-year correlation, as if the stars themselves had misaligned. Alas, Bitcoin, once the obedient high-beta asset, now rebels against its former masters-global liquidity and equities.

Adam Back has been a key figure in cryptography and the cypherpunk movement since the 1990s. As the CEO of Blockstream, a leading Bitcoin infrastructure company, his views on Bitcoin are highly respected and carry significant influence within the industry.