Author: James Wilson

Brazil’s central bank has added mandatory independent audits to the licensing approval process for crypto service providers in the country. Summary Brazil’s central bank will require crypto service providers to submit independent audit reports when applying for or renewing licenses. The audits will review anti-money laundering controls, customer asset segregation, risk management systems, and employee compliance programs. The new rule could raise compliance costs for smaller crypto firms, while major exchanges may continue pursuing access to Brazil’s large market. According to the published rules cited in the report, crypto firms applying for authorization, or renewing an existing license, must submit…

Coinbase has invested in ProShares’ GENIUS Money Market ETF as stablecoin issuers prepare for stricter reserve rules under the GENIUS Act. Summary Coinbase has invested in ProShares’ IQMM ETF to support stablecoin reserve management. IQMM is designed to meet reserve requirements under the GENIUS Act. The fund mainly holds short-term U.S. Treasuries, cash, and cash equivalents. Coinbase said stablecoin growth needs stronger tools for reserve and liquidity management. BlockBeats reported on June 2 that Coinbase will invest in the ProShares fund, known by the ticker IQMM. The report said the product is designed as a money market ETF that can…

Bitcoin has fallen below $70,000 as capital continues to flow toward a narrow group of high-performing U.S. equity sectors, according to a new analysis from Binance Research. Summary Binance Research linked Bitcoin’s recent weakness to record levels of capital concentration in U.S. equities, with AI, defense, and energy sectors attracting investor flows. Bitcoin has remained under pressure as ETF outflows exceeded $3.4 billion over 11 trading days, while Mt. Gox wallet transfers and macro uncertainty weighed on sentiment. Binance Research said past periods of extreme stock market concentration were often followed by Bitcoin recoveries within weeks when no crypto specific…

US spot Bitcoin ETFs just posted the longest withdrawal streak in their history. Across nine consecutive trading sessions in late May 2026, extending toward a tenth, investors pulled roughly $2.8 billion out of the funds, with the total nearing $2.97 billion at its peak.  Summary U.S. spot Bitcoin ETFs posted a record nine-day outflow streak in late May 2026. Roughly $2.8B left the funds, while BlackRock’s IBIT lost about $2.04B across the streak. A $1.29B IBIT dark-pool block pointed to institutional reallocation, not broad retail panic. Macro pressure, AI stock rotation, and Strategy’s Bitcoin sale all converged during the outflow…

EDGE fell sharply on June 2 after edgeX blamed unusual market activity on an unnamed outside party, while onchain investigator ZachXBT questioned the token’s supply control. Summary EDGE fell over 40% after edgeX reported irregular trading and denied any platform security breach. ZachXBT claimed insiders controlled most EDGE supply and called for market-maker agreement disclosures. CoinGecko data shows EDGE trading near $0.64 after hitting a 24-hour low around $0.40. EDGE dropped from about $1.20 to an intraday low near $0.36, according to market data. CoinGecko later showed the token trading near $0.64, down about 46% over 24 hours. The fall…

Kalshi has reportedly filed to certify perpetual futures tied to XRP, Solana, Dogecoin and other major crypto assets in the United States. Summary Kalshi reportedly filed to certify XRP, Solana, Dogecoin and other altcoin perpetual futures in the U.S. The move follows CFTC approval for Kalshi’s Bitcoin perpetual futures contract, known as BTCPERP. Kalshi’s reported XRP filing follows rising demand for regulated U.S. crypto derivatives products. The reported filing would expand Kalshi’s crypto derivatives plan beyond Bitcoin. A post from BankXRP said Kalshi filed to certify perpetual futures for XRP, SOL, DOGE and more altcoins in the U.S. The filing…

OpenSea may be preparing to add perpetual contracts, in a move that would take the NFT marketplace deeper into crypto trading. Summary OpenSea’s Zack Brenner asked users who wanted early access to perpetual contracts on the platform. Brenner later replied “YES” when asked whether Hyperliquid would power OpenSea’s planned perps feature. CoinGecko ranks OpenSea third in NFT marketplace volume, with a 19.9% monthly market share. OpenSea Product Marketing Lead Zack Brenner asked users on X who wanted early access to perpetual contracts on OpenSea. The post drew attention because it pointed to a possible new trading product from one of…

Mt. Gox has transferred 10,422 BTC worth about $739 million in its first on-chain bitcoin movement since March, raising concerns among market watchers. Summary Mt. Gox moved 10,422 BTC worth about $739 million in its first major bitcoin transfer since March, according to Arkham Intelligence. Blockchain data shows the bitcoin was sent to a new unmarked wallet rather than a known exchange address, leaving the purpose of the transfer unclear. The exchange still holds more than 34,500 BTC as creditor repayments continue under a deadline that runs through October 2026. Arkham Intelligence data shows the defunct exchange moved 10,306 BTC,…

Radiant Capital has announced plans to wind down operations after failing to recover from a $50 million exploit that devastated the lending protocol and left it without sufficient funding to continue. Summary Radiant Capital said it will wind down operations after failing to recover from a $50 million exploit and secure new funding. The protocol will remain online in a maintenance state, allowing users to withdraw funds and manage positions while development work ends. Investigations linked the 2024 attack to North Korea-aligned threat actors, while recovery efforts were hindered after portions of the stolen funds moved through Tornado Cash. According…

SpaceX has added new IPO filing language that gives the company room to issue large amounts of stock for future deals. Summary SpaceX’s amended S-1/A filing states that the company may issue significant amounts of equity for future acquisitions, divestitures, and strategic transactions. The filing shows SpaceX is targeting a Nasdaq listing under the ticker SPCX, with a potential $75 billion raise and a minimum valuation of $1.8 trillion. SpaceX’s pending acquisition of Cursor shows how the company may use Class A stock as deal currency after the IPO. The amended S-1/A filing states that SpaceX may issue a significant…