U.S. hiring stayed solid in May, with nonfarm payrolls up 172,000 and the unemployment rate unchanged at 4.3%. Average hourly earnings increased 0.3% month-over-month and 3.4% year-over-year, data that could lessen urgency for rapid Federal Reserve rate cuts that crypto traders monitor closely.

Zcash developers and Shielded Labs said a critical bug in the Orchard shielded pool could have allowed attackers to mint unlimited counterfeit ZEC without detection, though they reported no evidence of real-world exploitation. The issue was present from Orchard's May 2022 activation until an emergency remediation deployed on June 2, and the team said Orchard's privacy design prevents a definitive cryptographic confirmation of whether it was used.

Virtuals Protocol said it is shifting more than $700m of VIRTUAL token cross-chain infrastructure from LayerZero to Chainlink CCIP. The project said the decision followed a full security review and makes Chainlink CCIP its exclusive interoperability provider after the LayerZero-related incident tied to KelpDAO's rsETH bridge setup.

Cboe Global Markets is keeping its options open around the inactive Cboe Digital Exchange after a CFTC letter dated June 3 outlined temporary no-action relief tied to the venue's dormant status. The relief allows Cboe Digital to list products without first reinstating its designated contract market status, and remains in place through April 6, 2027, or until trading resumes.

edgeX said the EDGE token sank as much as 71% within hours on June 2 and that reviews by exchanges and market makers found no signs of coordinated manipulation. The firm attributed the move to thin on-chain liquidity, crowded longs, and liquidation spillovers into perpetual futures, and it unveiled a 200,000 USDC bounty plus voluntary goodwill payments for affected users.

LayerZero has published an ecosystem report positioning itself as institutional-grade finance infrastructure, including plans for "Zero," a dedicated Layer 1 aimed at tokenized assets, stablecoin settlement, and always-on capital markets. The report says the protocol has facilitated more than $260bn in value transfer and supports about 70% of cross-chain stablecoin volume. The update comes as L2BEAT questioned whether post-KelpDAO moves from LayerZero to Chainlink's CCIP necessarily deliver material security gains.

Zcash validators coordinated an emergency protocol upgrade after developers identified a vulnerability in the Orchard shielded pool. The protocol-level change took effect at about 10:30 p.m. Eastern time on June 1, and Orchard transactions were temporarily halted while the fix is deployed. The team said no funds were lost and user privacy was not compromised, with the wider network continuing to operate.

TON rose on June 1 after Telegram founder Pavel Durov said the network's native currency will be renamed from Toncoin to Gram. Durov said "Gram" was the original name used in TON's first white paper, and the change is expected to take about three weeks while TON remains the blockchain's name. Following the announcement, TON gained over 15% and traded above $2.18.

ProCap Financial said it sold about 52 Bitcoin to finance the repurchase of two million shares, with the stock trading at roughly a 50% discount to net asset value. The firm said buying back shares below the value of its underlying reserves increased Bitcoin exposure for remaining shareholders.