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According to Decrypt, although Do Kwon, the founder of Terraform Labs, has been sentenced to 15 years in prison for causing the collapse of Terra, which resulted in approximately $40 billion in losses, the abandoned original chain Terra Luna Classic (LUNC) has not disappeared. A group of community members continues to maintain the network, hoping to achieve one of the greatest revivals in the history of the cryptocurrency industry.The report states that a core community member known by the pseudonym "Vegas" lost about $50,000 during the Terra collapse and has since been involved in operating validation nodes, governance proposals, and developer coordination. He expressed that despite facing long-term internal power struggles and fraud accusations, and even being maliciously reported to the authorities, he still believes LUNC has the potential to return to the top ten in the cryptocurrency industry.After the Terra collapse in 2022, Terraform Labs launched a new chain, Terra, through a hard fork, while the original chain was retained and renamed Terra Luna Classic. Subsequently, the community organization Terra Rebels took over the maintenance work and launched a series of proposals, including a 1.2% burn tax, in hopes of revitalizing the ecosystem. However, due to disputes over fund allocation and governance, Terra Rebels eventually disbanded, and several developers left one after another.Despite this, the community continues to advance the development of projects such as lending protocols, games, and meme coins, and attempts to restore the stablecoin peg mechanism. Data shows that LUNC has risen 17.3% in the past year, but has cumulatively fallen 28.7% since 2022, with a decline of 99.99% from its historical high of $119.Some community members stated that the shared trauma after the collapse has formed a bond similar to "family," and that price is no longer the only goal. "What if we could achieve one of the greatest comebacks in cryptocurrency history? It's like a last-ditch pass." said a community member.

According to Businesswire, financial technology infrastructure company Cross River Bank announced a $250 million forward financing to Figure to support Figure's cryptocurrency collateralized loan business.Cross River will provide ongoing capital support for Figure's crypto loans, helping borrowers obtain dollar liquidity without selling their cryptocurrency assets.

StarkWare announced on the X platform that the Starknet v0.14.3 version will go live on the mainnet this month, with the testnet launch scheduled for June 9 and the mainnet launch scheduled for June 22. The new version will support dynamic L2 Gas base fee adjustments based on STRK, improve block generation speed, reduce the target L2 Gas consumption per block while keeping the maximum block size unchanged, and deprecate RPC 0.8.Due to the significant changes included in this update, the official recommends that all developers carefully read the pre-release notes to prepare for compatibility and upgrades.

According to a report by Fortune, David Trainer, CEO of research firm New Constructs, analyzed that to support a valuation of approximately $1.75 trillion, SpaceX needs to increase its annual revenue to about $1.1 trillion by 2035, which is nearly a 60-fold increase from $18.7 billion in 2025, equivalent to maintaining an average annual revenue growth rate of about 50% over the next decade.According to the prospectus previously submitted by SpaceX, the company's revenue in 2025 is projected to be $18.7 billion, with a net loss of $4.9 billion. Trainer calculated based on a discounted cash flow model that if investors want to achieve an annualized return of about 10% over the next decade, SpaceX must achieve the aforementioned growth targets.Analysis indicates that if it reaches a revenue scale of $1.1 trillion, SpaceX's revenue would account for about 2.4% of the U.S. GDP in 2035, with an economic scale exceeding the entire U.S. utility industry and approaching three-quarters of the U.S. transportation industry.Trainer stated that although the artificial intelligence market has vast potential, many competitors, including Alphabet, Microsoft, NVIDIA, and OpenAI, are competing for market share, and SpaceX lacks historical precedent to achieve such a scale of growth. He believes that SpaceX could not only become the largest IPO in history but also the most expensive in terms of valuation.

The founder of the Liebit Mining Pool (B.TOP), Jiang Zhuoer, stated that Bitcoin has not effectively broken below the strong support of $60,000. The price difference between Coinbase and Binance is narrowing, indicating that the selling volume from U.S. institutions like ETFs is decreasing, and the crypto market may see a rebound over the weekend.In yesterday's news, Jiang Zhuoer announced that he has "bottom-fished" and bought back all ETH positions at $1,645, expecting to start selling after a rebound in 1 to 3 days.

Bitget announced that its US stock 2.0 has officially launched on the web. Users can now trade 204 rTokens through the Bitget Web version, covering core sectors such as technology, consumer, semiconductors, and indices.It is reported that the rTokens, identified by the letter r + stock ticker (for example, rNVDA for NVIDIA), are issued by Bitget's licensed RWA protocol Reality, and are directly connected to global liquidity pools such as NASDAQ and NYSE through cooperation with the compliant brokerage Alpaca.

According to Barron's, Morgan Stanley's wealth management division has partnered with Galaxy Digital, allowing high-net-worth clients holding Bitcoin, Ethereum, or Solana to convert their direct holdings into a spot crypto ETF.The converted ETF can be used as collateral for financing, with a minimum trading threshold of $5 million. In July 2025, the SEC approved a physical conversion mechanism between directly held crypto assets and spot crypto ETFs, laying the regulatory foundation for this collaboration.

According to the official announcement, UPBIT will launch the KRW trading of Babylon (BABY) on June 5 at 20:00.

According to on-chain analyst Ai Yi's monitoring, Hex Trust's affiliated entities have accumulated 72.23 million H tokens in the past 4 hours, accounting for 2.55% of the circulating supply. Its foundation made significant adjustments in April regarding the H token allocation for early investors, either extending the unlocking period or issuing the full amount of tokens at a 70% discount in a one-time distribution on June 26. Hex Trust is one of its strategic investors, and it is still unclear whether this asset transfer is related to the upcoming unlocking.

CryptoQuant analyst Axel Adler Jr stated that Bitcoin is once again testing a low point of around $62,000, while the current 7-day net realized losses have reached approximately $7 billion, higher than the levels during the low point in February this year, but still below the peak loss of about $14 billion during the winter market panic.Currently, the Bitcoin price has clearly fallen below the cost basis of short-term holders (STH) at around $76,000. If it continues to decline, the main support left is the average realized price across the network at about $54,000, as well as the cost basis of long-term holders (LTH) at around $49,000. These two areas corresponded to the full capitulation phase and the formation of the cycle bottom in historical cycles.However, as long as Bitcoin remains above $54,000, the market will not enter a full capitulation phase; if it falls below and continues to operate below the market low point from February this year, it may further test the final defense line near $54,000 in this round.

According to the official announcement, Bitget has now launched U-based ZEST and BTW perpetual contracts, both supporting up to 10x leverage, and the contract trading Bot will be opened simultaneously.

According to The Block, blockchain analytics company Chainalysis has released a latest report indicating that as the gray market peptide industry scales surpasses an annualized $100 million, leading suppliers are accelerating the adoption of Bitcoin and stablecoins as primary settlement tools.In Q1 2026, cryptocurrency inflows into the industry reached $32 million, a month-on-month surge of 159%. Due to traditional banks and credit card payment channels generally imposing bans on prescription-grade compounds and unregulated substances, a large number of Chinese chemical manufacturers are turning to cryptocurrency to complete transactions, with high-value orders particularly favoring stablecoins to avoid price volatility risks.

The U.S. cryptocurrency market structure bill, the "Clarity Act," is a "support for regulation, support for enforcement" bill that rebuts criticisms from some law enforcement agencies regarding its inadequacy in preventing financial crimes. As the midterm elections approach, the time window for Congress to pass this bill is narrowing. Senator Cynthia Lummis warned that if progress is not made this year, the bill may not be seriously reconsidered until after 2030. Currently, the Clarity Act still faces multiple controversies, including stablecoin yield arrangements, conflicts of interest arising from Trump-related cryptocurrency businesses, and whether anti-money laundering standards are stringent enough.The latest version also incorporates the "Blockchain Regulatory Certainty Act" (BRCA) pushed by DeFi supporters, aimed at clarifying that non-custodial developers should not be regarded as money transmitters. However, some law enforcement groups and lawmakers are concerned that the BRCA and certain provisions of the bill may weaken the ability to track illegal funds and recover victims' assets. Witt stated that lawmakers have responded to these concerns before the Senate Banking Committee vote and added provisions to strengthen regulatory and enforcement foundations.

Bitcoin fell below $64,000 again after the U.S. stock market opened on Thursday, with a weekly decline of 13.5%, marking the worst single-week performance since 2026. BTC previously dropped to its lowest level since early February and retested the 200-week simple moving average. Trader Daan Crypto Trades stated that BTC continued to decline after encountering a bearish retest in the $80,000 low range, remaining in a larger downtrend since last October. He believes that the current market focus has shifted to whether the $60,000 level can maintain support, with the low $60,000 area combined with the 200-week moving average becoming a key area for bulls to defend.Trading resource The Kobeissi Letter pointed out that since October 2025, the total market capitalization of the crypto market has evaporated by over $2 trillion. In the short term, commentator Exitpump noted that every rebound in the Binance perpetual contract order book encounters sell orders, with buying pressure only just beginning to push prices up, leading to more supply appearing above, and sellers still holding control. Trader Rekt Capital mentioned that on June 13, 2022, BTC touched the 200-week moving average during a bear market pullback; and in the 2026 bear market, BTC nearly touched that moving average again on the same date four years later. He believes that BTC's cyclical performance is "incredible."

Grayscale's research director Zach Pandl stated that after Strategy disclosed the sale of 32 BTC on June 1, it triggered a new round of volatility in the BTC market. He pointed out that the scale of the sale itself is not important, as Strategy still holds approximately 840,000 BTC on its balance sheet, valued at about $5.5 billion. However, as one of the largest digital asset treasury managers in the world, its strategic shift puts pressure on market sentiment.Pandl believes that more importantly, the recent volatility affects the price of Strategy's variable rate preferred stock tool STRC. STRC is designed to maintain a price of about $100 per share, with a current dividend yield of 11.5%. If the stock price falls below $100, it means investors are demanding a higher return. Strategy can increase dividends, but this will increase future cash flow obligations and may lead to more BTC sales, further suppressing BTC prices. Strategy's leveraged business model is under pressure, increasing volatility across the entire BTC market.At the current levels of STRC and MSTR stock prices, Grayscale believes that Strategy's ability to continue accumulating more BTC is limited. However, Grayscale believes that in the long term, reducing the BTC on the leveraged digital asset treasury balance sheet and allowing more BTC to be distributed across diversified corporate balance sheets will benefit the health of the Bitcoin ecosystem. But before a sustainable bottom for BTC prices is formed, other buyers need to enter the market. Grayscale expects BTC prices to recover in the coming months, but in the short term, BTC's performance may lag behind other segments of the crypto market that directly benefit from regulatory clarity.

According to CNBC, ARK Invest's Chief Futurist Brett Winton stated that SpaceX's upcoming IPO could become one of the most significant stock offerings in history, with its satellite internet business Starlink alone being sufficient to support a valuation of nearly $2 trillion.SpaceX has set the IPO price at $135 per share, planning to list on Nasdaq on June 12, with a pre-IPO valuation of approximately $1.77 trillion. The company plans to sell 555.6 million shares, raising about $75 billion, and underwriters may also purchase an additional 83.33 million shares at the IPO price, corresponding to about $11.2 billion. After the IPO is completed, Musk will hold over 82% of the voting control.Winton noted that SpaceX's growth prospects are not limited to launch services but are closely tied to the rapid expansion of AI. ARK estimates that by 2030, the combined enterprise value of companies developing and operating foundational AI models could reach $15 trillion to $20 trillion.Winton stated that investors typically focus on SpaceX's reusable rockets, but Starlink is the main driver of ARK's valuation logic. He mentioned that the current satellite constellation of Starlink can provide approximately 500 Tbps of bandwidth, generating annual revenue of about $13 billion. With the Starship rocket coming into operation, SpaceX can significantly reduce launch costs and deploy more satellites at a faster pace.

According to the official announcement, as an important upgrade in terms of capital efficiency for the US stock 2.0 product, Bitget has added 15 US stock tokens as collateral currency in the unified account and U-based contract joint margin model.The supported underlying assets include: rAAPL, rAMZN, rMETA, rMU, rTSLA, rGOOGL, rNVDA, rINTC, rMSFT, rASML, rAVGO, rTSM, rSNDK and other core technology assets, as well as the rQQQ and rSPY large-cap index tokens.

The South Korean cryptocurrency exchange Upbit announced that due to the Injective (INJ) network upgrade, the deposit and withdrawal services for INJ will be suspended starting from June 4 at 19:00 Beijing time (20:00 Korean time) until the network stability confirmation is completed.The announcement indicates that this suspension only affects the deposit and withdrawal functions of INJ, while spot trading will continue as normal. Upbit reminds users that conducting on-chain transfers during the suspension period may lead to delays in arrival, and in extreme cases, there may even be a risk of irreversible loss.Upbit stated that it will maintain close cooperation with the Injective project team to ensure the safety of user assets and will issue a separate notice to resume deposit and withdrawal services once the network stabilizes.

British teenager Alexander Browder stated that he has been placed on a sanctions list by the Russian Ministry of Foreign Affairs and banned from entering the country for writing a report exposing a cryptocurrency money laundering network supported by Russia.The report indicates that countries such as Russia, Iran, and North Korea launder approximately $350 billion, with a ruble stablecoin named A7A5 being one of the main issues facing Western anti-money laundering efforts. The UK Foreign Office stated that Russia uses tokens like A7A5 to evade Western sanctions and fund its military. The UK government imposed sanctions on individuals related to this network in May, which transferred over $90 billion last year. Alexander Browder expressed pride in being the first high school student globally to be sanctioned by an authoritarian regime for exposing corruption.