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

June 2 — Bits.media reports that a massive illegal cryptocurrency mining operation has been uncovered in Nizhny Tagil and the adjacent Kushva region, located in Russia’s Sverdlovsk Oblast. Hiding out in an abandoned industrial park, the farm was running roughly 10,000 mining rigs before being shut down via a coordinated raid by Russia’s Federal Security Service (FSB), local law enforcement, and the area’s power company. The local utility estimates the farm’s long-term, unauthorized power use caused nearly 1 billion rubles (about $12.7 million) in losses. Investigators added the operation’s power demand was so high it could have met the lighting needs of an entire small city. Three suspects have been placed under house arrest, facing probe under Russia’s statute on "causing property damage through deception or abuse of trust" — they could get up to five years in prison if convicted. Investigations showed the farm’s operators tapped the power grid via third-party intermediaries and tam

June 2: Official sources confirm that CME Group—the world’s largest derivatives exchange group—has launched a 24/7 continuous trading mechanism for its cryptocurrency futures and options products. The new session went live on May 29, marking the first time a regulated traditional derivatives market has fully adopted round-the-clock trading for crypto assets. Over the first weekend following the launch, CME data shows more than 7,200 crypto futures and options contracts were traded, with a nominal volume of roughly $50 million. This figure highlights immediate demand from both institutional and retail investors for weekend liquidity in the crypto space. Tim McCourt, CME’s Global Head of Equity Index and Alternative Investment Products, noted that cryptocurrencies trade nonstop by nature, so CME’s round-the-clock framework is designed to bridge the time gap between regulated traditional markets and crypto spot markets. The goal is to enable uninterrupted price discovery and risk manage

June 2 — Per official announcements, X Layer has formed a strategic partnership with xStocks, a regulated tokenized stock issuance platform. The two parties will collaborate to bring tokenized stock assets into the X Layer ecosystem and open dedicated trading access for OKX Wallet users. Moving forward, users will be able to trade xStocks-related assets 24/7 directly within OKX Wallet, while tapping into X Layer’s settlement, liquidity, and distribution capabilities. The pair will also roll out a fast-track listing mechanism to speed up the tokenization and trading of popular stocks and thematic ETFs, all operating within a fully compliant regulatory framework. For context: X Layer is focused on building on-chain infrastructure for financial assets, covering core areas including settlement, liquidity, and distribution. xStocks boasts over $31 billion in total tokenized stock trading volume to date, making it the first committed issuer to bring asset depth to X Layer and drive large-sc

On June 2nd, according to HyperInsight’s monitoring, as the market dipped, the “Big Whale” was once again facing liquidation on his 25x leveraged long Ethereum (ETH) position, and he voluntarily closed out a portion of his holdings. Currently, the whale still holds a 25x leveraged long position of 2,600 ETH, valued at $5.17 million. The liquidation price sits just $27 below the current market price, while the account has racked up over $32 million in cumulative losses.

On June 2nd, Bill Zanker — a long-time business partner of former President Donald Trump — launched the "TrumpCoin Club," a long-term membership program designed for large holders of the TRUMP meme token, offering exclusive perks to the crypto’s top stake owners. The club’s inaugural event is set for next month’s FIFA World Cup final, where the top 19 TRUMP holders will receive a three-day complimentary luxury package: a stay at New York’s The Ritz-Carlton, a gala dinner, and access to a private suite at MetLife Stadium in New Jersey to watch the championship match. Zanker noted similar events will be held at least quarterly moving forward, focusing on major international events, with the goal of rewarding top holders and encouraging others to hold onto their TRUMP tokens. Since hitting its peak last January, the TRUMP meme coin has plummeted over 97%, its fully diluted valuation falling from nearly $75 billion around the eve of Trump’s second presidential inauguration to roughly $20 b

June 2nd — Per monitoring from Hyperinsight (via its Telegram channel @HyperInsight), Hyperliquid plans to use a Time-Weighted Average Price (TWAP) order to acquire over 10,000 HYPE spot tokens from 11 separate addresses, totaling more than 269,000 tokens worth approximately $19.62 million. All 11 addresses belong to a single whale that has been moving on-chain funds across multiple wallets and will continue buying over the next 24 hours. Here’s a full breakdown of its order activity: - Unfilled TWAP orders from yesterday: 83,500 tokens purchased, valued at roughly $6.01 million. - In the past two hours alone today, the whale added seven new orders (still in the early execution phase) targeting 185,000 tokens, worth around $13.53 million. A portion of these buy orders has already been filled. Based on existing placements, the net TWAP buy pressure for HYPE over the next 24 hours is projected at $13.5 million, with this single whale accounting for nearly 90% of the total TWAP buy-side