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

June 11: South Korea’s KOSPI index plunged 4% intraday to 7,412.30 points. Japan’s Nikkei 225 fell below 63,000 points—its lowest level since May 22—posting a 1.91% intraday drop. SK Hynix slid 3.5%, while Samsung declined 4%.

June 11 update: During the DACFP conference for investment advisors, Tom Lee shared insights on today’s financial system, noting it’s built on a multi-layered tech stack rife with false or fraudulent transactions. He emphasized that Ethereum (ETH) and Bitcoin (BTC) have never experienced fraudulent activity at the blockchain level, adding that blockchain operates at a lower overall cost. Lee further compared investing in blockchain to holding real estate assets, predicting that future “agent-based AI” systems will rely on blockchain for faster performance and improved prevention of system failures. He also pointed out that Ethereum’s supply is shrinking, and BitMine may not need to hold more than 5% of the total ETH supply. Additionally, Lee mentioned BitMine could be added to the Russell 1000 index by the end of June—an event that would bring price stability support to the company. He also referenced BitMine’s holdings in MrBeast-linked financial firms as part of his comments.

June 11. The U.S.’s latest round of “defensive strikes” against Iran sent global risk sentiment soaring Wednesday, weighing on U.S. stock futures overnight and lifting oil prices at the same time. Here’s the key market action: - Stock futures: S&P 500 futures fell 0.4%, Nasdaq 100 futures dropped 0.6%, and Dow futures lost roughly 123 points, or 0.3%. - Regular trading (Wednesday U.S. session): All major benchmarks posted broad losses. The Dow plunged 953.33 points (1.87%), the S&P 500 slid 1.62%, and the Nasdaq fell 1.98%—with semiconductor and tech stocks leading the downturn. - Individual stock swing: Oracle tumbled more than 11% in after-hours trading, hours after announcing plans to raise ~$20 billion via equity and debt to fund AI infrastructure expansion. Market jitters over its funding needs dragged down S&P 500 futures and tech software ETFs. - Strategist take: Some funds are exiting AI-related trades to rotate into sectors like healthcare, biotech, finance, and energy as a he

June 11: Per OnchainLens monitoring, the U.S. government has once again transferred roughly $216,000 in assets from seized FTX/Alameda funds, bringing the cumulative total of such transfers to $984,000. The assets involved in this latest transfer include LINK, AAVE, CHZ, BAL, and other crypto assets.

June 11: OnchainLens has flagged a newly minted crypto wallet address that deposited $3 million in USDC into derivatives exchange Hyperliquid, where it’s been actively rotating between long and short positions. Currently, the address holds a 20x leveraged long position of 36,097 ETH, with the position valued at roughly $58.49 million and carrying an unrealized loss of approximately $380,000. Prior to this, the whale completed two trades—first going long, then flipping to short—netting a total profit of around $1.7 million.

June 11 (via CCTV): U.S. Central Command announced local time June 10 that Iran’s Islamic Revolutionary Guard Corps (IRGC) has refuted claims it closed the Strait of Hormuz. Commercial ships were still transiting the strategic waterway as of that same evening. Meanwhile, the IRGC’s Navy announced local time June 11 that it is shutting down the Strait of Hormuz indefinitely, citing repeated violations of a ceasefire agreement by the United States.