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

On May 31, data from HyperInsight shows that a crypto “whale” added to its long Ethereum position after the market rallied in the morning. As of press time, the whale’s Ethereum long position totals $10.36 million, with a liquidation price of $1,993.9. Ethereum’s current price is less than 2% away from that liquidation level.

May 31 — South Korea is pressing ahead with formalizing its Korean won stablecoin framework, and local financial, securities, banking, IT, and foreign institutions are stepping up efforts to acquire shares in domestic cryptocurrency exchanges, Yonhap News Agency reported. Hana Bank announced it will purchase approximately $665 million worth of a 6.55% stake in Dunamu, the operator of the Upbit exchange. Samsung Securities, Samsung SDS, and Samsung Card plan to collectively take a 4% stake in Dunamu, while Hanwha Investment & Securities will add an additional 3.90% share. Separately, Mirae Asset Consulting has agreed to spend roughly $88.5 million to secure a 92.06% equity stake in Korbit. Meanwhile, Korea Investment Securities and OKX Ventures each plan to acquire about 20% of Coinone.

May 31 — Aave published a postmortem report for the April 18 rsETH incident, detailing that Kelp’s rsETH LayerZero V2 cross-chain bridge (used for Unichain to Ethereum transfers) received a forged message during a cross-chain transaction. This breach resulted in 116,500 rsETH being minted on Ethereum without a corresponding burn of tokens on Unichain, creating a balance discrepancy. Aave confirmed the attack targeted third-party cross-chain bridge infrastructure. The attacker deposited the stolen rsETH into eight Aave V3 positions, from which they borrowed 82,650 WETH and 821 wstETH, impacting Aave’s markets. Per the report, the attacker’s rsETH holdings on Arbitrum have been burned. To fix the shortfall, LayerZero’s OFT adapter minted 116,131.72 rsETH across five batches, fully restoring rsETH’s asset backing. Both the affected WETH and rsETH markets on Aave have returned to normal functionality.

May 31. For today’s widely discussed topic surrounding a potential partner for Binance’s stock trading division, BlockBeats has put together a quick overview of Alpaca’s key details: Founded around 2017, Alpaca is based in San Mateo, California. It’s a leading player in the brokerage-as-a-service (BaaS) space, helping global partners seamlessly integrate U.S. stock trading functionality. Its current partners include Kraken, SBI Securities, and Thai financial investment app Dime!, among others. This past January, Alpaca raised $150 million in a funding round that valued the company at $1.15 billion. The round was led by Drive Capital, with participation from Citadel Securities, crypto exchange Kraken, and Opera Tech Ventures—the venture capital arm of French bank BNP Paribas. As part of the deal, Alpaca also secured a $40 million credit line. Earlier reports have suggested Binance may add U.S. stock trading, with Alpaca set to provide custody and clearing services for the offering.

May 31, overnight and into this morning, the news that Binance is adding stock trading sparked excitement across the crypto market, sending BNB prices surging steadily. This morning, that news got official confirmation, extending the rally as Bitcoin punched through the $74,000 mark once again. Notably, rival token HYPE dipped briefly overnight but bounced back this morning, inching closer to the $70 level. Per HTX market data: - Bitcoin is currently trading at $74,182, up 0.35% in 24 hours; - BNB is priced at $725.86, with a 24-hour gain of 4.60%; - HYPE is at $69.168, up 5.96% over the past day. Additional gains are also seen among Binance ecosystem tokens: “Binance Life” jumped over 17% in 24 hours, ASTER rose more than 10%, and CAKE added 9.2% in the same period.

WASHINGTON, May 31 (AXIOS) — A senior U.S. administration official and another source familiar with the matter revealed that during a Friday meeting in the White House Situation Room, President Donald Trump requested multiple revisions to the proposed agreement his envoy reached with an Iranian representative, according to details shared. Two U.S. officials told AXIOS that Trump is eager to finalize the pact soon but has pushed to strengthen several key provisions critical to his priorities, especially those related to Iran’s nuclear materials. Trump’s demands have triggered a fresh round of negotiations between the two sides, a process that could take several days, the sources said. Trump has instructed his team to amend draft language on Iran’s nuclear program. The current memorandum of understanding (MOU) includes only Iran’s commitment not to seek nuclear weapons, with no specific concessions beyond that currently outlined. The MOU sets a 60-day window to negotiate both Iran’s n