BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

June 5 — According to HTX market data, ZEC dipped to $250.12 at its lowest point and has since edged slightly higher to $295, marking a 48.51% decrease in the past 24 hours. Earlier reports noted that an unlimited inflation bug in ZEC was discovered by Anthropic Opus 4.8. The Zcash Open Development Lab (ZODL) then coordinated an emergency response with the Zcash ecosystem, completing all necessary fixes on June 2.

On June 5th, per monitoring from Hyperinsight (via https://t.me/HyperInsight), Zcash (ZEC) prices plunged in the afternoon due to a panic sell-off driven by persistent concerns over the feasibility of an "infinite issuance" model, resulting in a one-sided downward trajectory. During the price drop, Auros Global— a prominent market maker on Hyperliquid— was temporarily forced to accumulate a large number of long positions. As of press time, Auros holds a $10.5 million long position, with an unrealized (floating) loss that once swelled to $8.5 million, equivalent to a -450% margin. The market-making address linked to Auros currently has a total position value of $46.2 million, providing liquidity for 99 distinct tokens. Recently, this address has significantly narrowed the range of tokens it supports for market-making, and its overall position size has also decreased. Market-making Address: 0x023a3d058020fb76cca98f01b3c48c8938a22355

June 5, On-chain analyst Ai Auntie (@ai_9684xtpa) noted that the address tied to "BTC OG Insider Whale" Garrett Jin held a $19.45 million short position in ZEC, and has now booked $16.48 million in profits. The average entry price for this position stands at $626.47, and the address currently ranks first on Hyperliquid’s ZEC profit leaderboard. Per HTX market data, ZEC has plunged below $300 to trade at $263.19, representing a 54.84% decrease over the past 24 hours. Earlier reports confirmed that ZEC’s infinite issuance bug was identified by Anthropic Opus 4.8. The Zcash Open Development Lab (ZODL) then coordinated an emergency response within the Zcash ecosystem, and the necessary fix was finalized on June 2.

On June 5th, Fundstrat strategist Tom Lee told CNBC in a recent interview that the current stock market is unfolding within a three-stage cycle. A well-known Wall Street bullish analyst with a track record of correctly timing bull market rallies multiple times over the past few years, Lee notes this round of gains will not be a straight upward trajectory. As of early June, the S&P 500 has climbed nearly 11% year-to-date, even amid headwinds like ongoing debates over artificial intelligence (AI) prospects and inflationary pressure from rising energy prices. Lee identifies corporate earnings beating market expectations as the core driver of the rally. Prior to first-quarter results, consensus forecasts had pegged S&P 500 earnings per share (EPS) at around $70; actual EPS came in close to $80. If this trend continues, full-year EPS could rise by an additional $40— a development that theoretically would provide the S&P 500 with upside of 800 to 1000 points. For now, Lee says the current u

On June 5, cryptocurrency exchange Binance announced it would delist the COS, D, HIGH, and MBOX tokens, citing results from an internal audit. In the wake of the announcement, COS plummeted 22.83% over a short period, D dropped 22.28%, HIGH fell 24.53%, and MBOX declined 18.42%.

According to a Bloomberg report published on June 5, U.S.-based firm Convalt Energy has agreed to invest $6.2 billion to build a 1,200-megawatt hydroelectric project and an artificial intelligence (AI) data center in the African country of Lesotho. Lesotho government spokesperson Boitelo Rabele stated in an official press release that this is the largest foreign investment project in the southern African nation’s history. The project will help Lesotho lower its dependence on imported energy and create a significant number of local jobs. Click the original article link below to join BlockBeats’ Feishu AI News Channel, which tracks global AI trends and news 24/7.