Cryptonews

The move came as the scheme has faced major headwinds since gaining popularity last year.

Back in 2016, when Ethereum ICOs were the crypto equivalent of selling lemonade on the sidewalk but with way more jargon and way less actual lemonade, HongCoin ran a fundraiser that never hit its funding goal. The smart contract was supposed to auto-refund all the contributors when that happened. It did not do that. Like a roommate who swears they’ll do the dishes “in five minutes” but actually just leaves them in the sink for nine years, the refund function was broken, and all that ETH just sat there.

Bitdeer, a company specializing in cryptocurrency mining, has announced the DL1 Hydro, its latest mining machine. This new model uses hydro-cooling technology and joins the DL1 Air in Bitdeer’s range of hardware. The DL1 Hydro is specifically built to mine cryptocurrencies that use the Scrypt algorithm, such as Litecoin (LTC), Dogecoin (DOGE), and others like BELLS, JKC, LKY, and PEP.

According to the ever-watchful eyes of the SEC, Strategy parted with a mere 32 BTC (a drop in the ocean, really) between May 26 and May 31, raking in a modest $2.5 million. And what, you may ask, did they do with this pittance? Why, they funneled it into their preferred stock obligations, of course! Cash dividends, my dear friends, not a crypto capitulation.

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.