Coinbase said earlier this week it rolled out pre-IPO perpetual futures, launching first with a SpaceX-linked contract for eligible users outside the United States. The product lets traders take long or short exposure to SpaceX's implied valuation with P&L settled in USDC, and Coinbase says positions will convert into a standard SpaceX perpetual contract if the company later completes an IPO.

Arthur Hayes said he sold his entire Zcash (ZEC) position after a vulnerability affecting the Orchard shielded pool surfaced, with key details becoming public on June 5. The bug was found on May 29 and patched by June 1, but developers said Orchard's privacy design cannot cryptographically prove whether it was exploited before the fix. ZEC slid more than 35% in 24 hours to about $386, while CoinGlass data showed nearly $49 million in liquidations over the past day.

Strategy's preferred stock STRC ended Wednesday at $94.65, roughly 5% below its $100 par value, prompting fresh debate over whether the move is typical for preferred shares. Supporters argue the discount mainly reflects investors demanding more yield, while critics say a persistent sub-par price could make new issuance harder and raise cash needs as dividend obligations climb.

Ethereum (ETH) has drifted toward its February low near $1,700 after a broad crypto sell-off pushed the price below $1,900. Some analysts say the current downside risk does not change their longer-term view, pointing to institutional activity and supply trends such as staking and declining exchange balances. Recent data also showed sharp deleveraging, with heavy liquidations reported on June 3.

Bitcoin critic Peter Schiff said BTC could drop below $20,000 if it falls through $50,000, arguing market sentiment remains overly complacent. He made the comments with Bitcoin near $67,000, down more than 4% over 24 hours and over 16% across 30 days. Schiff also warned Strategy's STRC yield setup could turn into a self-reinforcing decline if investors question the company's ability to maintain payments.

EDGE fell to an all-time low of around $0.40 on June 1 after previously reaching $1.54, with the move erasing about 51% in a single day and sparking roughly $6.2 million in liquidations. edgeX said the protocol was not compromised and blamed suspected external market manipulation, while on-chain researcher ZachXBT questioned the token's supply concentration and criticized the project's self-investigation.

Bitcoin is hovering just above the $73,000 area, which analyst Michaël van de Poppe said on June 1 could act as the make-or-break support for a summer breakout. He argued that holding $73,000 could fuel roughly two strong weeks of upside, while losing it may raise the risk of a deeper pullback toward $61,000. BTC was also described as ranging near $74,200 resistance and about $72,700 support, as spot Bitcoin ETFs have faced notable outflows since mid-May.

A June 1 post by analyst EGRAG CRYPTO argues banks are pushing back against stablecoins because they let users hold and move dollar value outside bank deposits, with the potential to earn yield. He said banks can lend deposits at 6% to 28% while paying depositors 0.1% to 0.5%, a spread he believes yield-bearing stablecoins could erode. Separate estimates cited in the report project U.S. banks could lose around $500 billion in deposits to stablecoins by end-2028 as the sector grows to about $320 billion.

The UK has sanctioned 18 crypto platforms, banks, and financial networks allegedly used by the Kremlin-backed A7 payment network to bypass restrictions, with claims they processed over $90 billion in 2025. The measures place the entities on the UK Consolidated List and require UK-based businesses to freeze related assets and block transactions tied to the listed firms.