SummerNightColdWallet

According to Reuters, Malaysia’s Ministry of Home Affairs has launched an investigation into Network School, a digital nomad community founded by Balaji Srinivasan, former Coinbase chief technology officer. The community is alleged to have hosted Israeli citizens who entered using passports from other countries. Relevant authorities will verify the identities and nationalities of those involved, the validity of their travel documents, and their stated purpose of entry. Malaysia bans entry for holders of Israeli passports, but it has no legal prohibition against dual nationals entering with passports other than Israeli passports. Network School was founded in 2024 and is reportedly located in Forest City, Johor, Malaysia. The Johor state government will also re-examine whether the community complies with local regulations regarding its business license, building use, and business activities.

Crypto news: A court in the Brazilian state of São Paulo ruled that Coinbase must refund a user nearly $100,000. The user said that funds deposited into a Coinbase wallet disappeared in unauthorized transactions. Coinbase argued that the wallet’s private keys were controlled by the user, but it failed to prove that the transactions were initiated by the wallet holder and failed to prove that there were security measures in place to prevent this outcome. The court made the ruling based on relevant provisions of the Consumer Protection Law, requiring Coinbase to refund the full amount plus statutory interest.

Coin Jie News: PepsiCo CEO: The Iran war is causing natural gas prices to have a global impact.

Gemini announces the launch of commission-free stock trading in most U.S. states, allowing users to buy and sell thousands of publicly traded stocks on the Gemini app, though some regions are not yet available. Nasdaq will serve as the official provider of real-time market data, while Apex Clearing will handle custody and clearing. Cameron Winklevoss stated that the goal is to create an all-in-one financial platform within the same app, unifying the management of all financial matters. This is another step in Gemini's expansion of services into stocks and other areas.

CoinWorld News: The BitTorrent team has notified that the BTTC bridge sunset plan has been completed. In the future, it will focus more on decentralized AI and maintaining the BitTorrent decentralized protocol. All funds are safe, and users can continue to deposit and withdraw BTTC bridge funds via partnered centralized exchanges.

On Monday, U.S. spot Bitcoin ETFs recorded a net inflow of $266 million, the largest single-day amount this month. Ethereum ETFs gained $20.66 million; BlackRock’s ETHE attracted $23.29 million; IBIT pulled in $209.4 million; ARKB attracted $32.98 million; Grayscale Mini BTC added $42.25 million; and GBTC saw an outflow of $44.45 million. For the full week, there was a net outflow of $527 million, and Ethereum ETFs had a weekly outflow of $13.7 million. Total assets of Bitcoin ETFs rose from $70.95 billion to $77.32 billion, with the price of Bitcoin at approximately $63,200.

Coin World News, according to Santiment data, XRP's price has risen by 8%, with its 30-day and 365-day MVRV around -45% and -47% respectively. This is the first time XRP has reached this low, and some traders view it as a contrarian buy signal.

Ethereum proposes a new plan: validators will redirect a portion of staking rewards at a rate of 0%–10% to fund the ecosystem, and if the majority of validators agree on a non-zero percentage, it will be enforced. The goal is to address the free-rider problem—multiple parties sharing infrastructure and security costs but no one willing to bear them alone. Currently, staking rewards amount to about 700k ETH per year; if redirected at 5%–10%, ecosystem funding could increase by approximately 50k–70k ETH, equivalent to about $120 million. However, this move could spark controversy and carries the risk of validator cartelization.

Bitcoin Policy UK CEO Susie Ward stated at the BTC Prague conference that Strategy Executive Chairman Michael Saylor did not fully disclose the associated risks when promoting its perpetual preferred stock product STRC, and criticized his portrayal of the product as nearly "risk-free" as an dishonest practice. Ward believes that Strategy's model of financing through issuing stocks or preferred shares and continuously buying Bitcoin involves equity dilution and financial leverage risks, which contradicts the core idea of Bitcoin's scarcity. She also expressed skepticism about the emerging Bitcoin reserve company model in recent years, believing that some companies leveraging capital markets to buy Bitcoin may pose higher risks. (The Block)

CryptoWorld News reports that Cointelegraph says Fidelity ETF clients purchased $28.6 million worth of Ethereum (ETH) this week, which is the highest weekly buying amount in two months.

CryptoWorld News reports that the U.S. Commodity Futures Trading Commission (CFTC) submitted its first regulatory proposal for prediction markets on Wednesday, aiming to assess whether contracts comply with the limits under federal law. CFTC Chairman Mike Selig said the proposal will protect the integrity of regulated markets while not hindering responsible innovation. The proposal also includes a 90-day review process for public-interest assessments of individual contracts. President Trump recently said he supports this direction of the CFTC, emphasizing that other countries are also watching this new type of financial market.

$BTC Short Squeeze Potential
HUGE PROBLEM...
Low Leveraged shorts are heavy in the 64-66k range.
These positions carry the most potential for liquidation because they are large position trades.
The perfect target for MM's exit liquidity.

CryptoWorld News reports, according to Al Jazeera: Iran denies firing at the Saudi Air Force base.

CryptoWorld News reports that an on-chain analyst, AI Auntie, said that a whale bought 158.57 WBTC (about $10 million) and 31,065.58 ETH (about $49.85 million) via Cowswap within the past 24 hours, with costs of $63,060.32 and $1604.7, respectively. In addition, this address (0xb4d…b186a) has more than $70 million worth of stablecoins available on-chain for further adding to the position.

According to early monitoring by a, the net inflow of the US spot BTC ETF yesterday reached $3.2 million, the highest single-day net inflow since May 15. Among them, the largest inflow was IBIT, totaling $47.7 million; second was EZBC, with an inflow of $0.0 million. The data is for reference only.

CryptoWorld News reports that the prediction market indicates that traffic through the Strait of Hormuz is expected to return to normal by June 15, 2026. According to data from the XBIT DEX prediction market, as of June 4, 2026, the trending events in the "Macroeconomics" section show that the probability of "Yes" is 3.2%. The trading volume in the past 24 hours was approximately $400k, with a total trading volume of $3.4 million, and the liquidity pool stands at $333k.