June 2: Strategy Fallout, Mt. Gox Transfers

Brief Summary:

• Bitcoin fell below $70K this morning, trading near $69,400 after hitting a seven-week low area.
• Ethereum is holding near $1,975, still struggling around the $2,000 psychological level.
• About $744 million in crypto liquidations hit the market over 24 hours as leverage unwound during the selloff.
• Digital asset investment products saw $1.67 billion in outflows last week, the second-largest weekly withdrawal of 2026.
• Bitcoin funds posted their largest weekly outflow of the year, while XRP and HYPE were rare bright spots with inflows.
• Strategy’s first disclosed Bitcoin sale continues weighing on sentiment, even though the company sold only 32 BTC worth about $2.5 million.
• Mt. Gox moved 10,306 BTC, worth about $739 million, to two addresses, creating fresh concern about potential supply pressure.
• CME’s new 24/7 crypto derivatives market saw about $50 million in opening weekend trading.
• Robinhood closed its $180 million WonderFi acquisition, expanding its Canadian crypto footprint.
• Reuters reported a policy split on stablecoins, with the Bank of England more skeptical and Fed official Christopher Waller more supportive.
• Japan’s ruling-party panel wants the country to promote yen stablecoins and create a legal framework for crypto ETFs.
• Vitalik Buterin proposed options-based synthetic assets to reduce DeFi liquidations and reliance on real-time oracles.
• Binance launched access to U.S. stocks and ETFs, pushing further into traditional brokerage territory.
• Dogecoin gained access to the Paxos network used by PayPal and Venmo.
• BitMine acquired 26,497 ETH despite weak Ethereum price action.

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