U.S. Senator: If Powell Is Fired by Trump, It Will Trigger a Market Collapse

June 2: Bankrupt crypto exchange Mt. Gox’s affiliated wallet carried out a large Bitcoin transfer today, per on-chain analyst @ai_9684xtpa. Roughly six minutes ago, its cold wallet moved 10,423 BTC to a new address, worth around $739 million at current market prices. As of now, these coins remain in the receiving address and have not been moved further, with no clear reason for the transfer revealed. In a separate transaction, Mt. Gox also shifted 116 BTC to its hot wallet, valued at approximately $8.25 million. This marks a rare large-scale on-chain movement from Mt. Gox-linked addresses since late last year, drawing notable market attention. At press time, none of the involved Bitcoin has been sent to exchange addresses, and no direct signs of selling activity have been observed.

On June 2, the Hong Kong Special Administrative Region (SAR) Government’s Financial Services and the Treasury Bureau announced that after rolling out rules requiring virtual asset trading platforms to hold licenses and regulations governing stablecoin issuers, Hong Kong will launch a unified regulatory framework for a full range of virtual asset activities—including trading, custody, investment advisory, and asset management—next. The initiative aims to strengthen the city’s digital asset ecosystem. Under the proposal, any firm in Hong Kong offering virtual asset trading, custody, investment advice, or asset management will need to secure a license or registration from Hong Kong’s Securities and Futures Commission (SFC). The regulatory scope will align with existing designated regulated activities under the Securities and Futures Ordinance: specifically, Type 1 (securities trading), Type 4 (investment advice), and Type 9 (asset management). For virtual asset custody services, regulato

June 2 update: Over the weekend leading into today, multiple top investment banks released new research on AI infrastructure, categorizing AI computing power expansion’s “second-order bottlenecks” in priority order: Storage/Memory > SSD Controllers > Data Center Power & Liquid Cooling > GPUs/Cloud Platforms > MLCCs > AI Security. AI data centers are no longer reliant on GPUs alone—they now require robust backend storage, power supplies, and cooling systems, per the reports. This wide supply-demand gap has prompted institutions to sharply raise price targets and ratings for related assets, a trend aligned with last week’s trillion-dollar market cap milestones for memory giants Micron (MU) and SK Hynix, plus strong after-hours gains for tech stocks broadly. Key highlights from institutional research notes: - SNDK (SanDisk): Susquehanna and GF Securities assigned Positive/Buy ratings, setting target prices of $3,250 and $1,277 respectively. Catalysts include a severe NAND and enterprise

June 2nd: According to monitoring by OnchainLens, trader and institutional account Loracle (@loraclexyz) has fully closed out his widely publicized previous short position in HYPE, with total accumulated losses topping $46 million. Recently, HYPE has kept hitting new all-time highs and rising against the broader trend, triggering substantial liquidations or forced unwinds for numerous high-leverage short positions. Loracle’s full exit from the HYPE short market makes this trade one of the most prominent examples of massive losses during this round of HYPE’s bull run. Right now, Loracle has shifted his trading focus to other assets: he holds long positions in ZEC (10x leverage), TON (5x leverage), ASTER (5x leverage), and XMR (5x leverage), while maintaining a 5x leverage short position in TSLA (Tesla).

June 2 — Per Hyperinsight Monitoring (t.me/HyperInsight), as of noon ET, all large-scale position holders (with positions worth $10 million or more) among the highest-trading-volume U.S. stocks and crypto assets on Hyperliquid are holding long positions, indicating a bullish market sentiment. Key position details: - BTC: 40x Long, $13.4M position, average entry price $70,948, liquidation price $68,491 - ETH: 25x Long, $12M position, average entry price $2,002, liquidation price $1,901 - HYPE: 10x Long, $20.1M position, average entry price $73.4, liquidation price $68.18 - XYZ100: 20x Long, $10.01M position, average entry price $30,286.6, liquidation price $29,258.5 - NVDA: 3x Long, $21.76M position, average entry price $223.7, liquidation price $105.9 Relevant on-chain addresses: 0x76fe28b803eeba445c34afc2f914e6bcb71112fd, 0x57f2819c959abbcf22623d5ec1d3164b213e9711, 0xc6fee72e2dfb27d75c282747f268738c7bc179b1, 0x960bb18454cd67b5a3edb4fa802b7c0b5b10e2ee, 0x577ae91c7b74f04ddb3a5b399ded8

As of June 2, the April cross-chain bridge attack on Kelp DAO resulted in the theft of roughly $292 million in assets. Of that total, about $71 million in ETH has been frozen, while the remaining $220 million has been mostly laundered. The attacker’s original wallet now holds just around $1.7 million in assets. On-chain analysis indicates the hacker deployed privacy tools including THORChain, Wasabi, Tornado Cash, and Umbra to carry out multiple rounds of cross-chain swaps and coin mixing, leaving the majority of the stolen funds untraceable. Investigators previously identified the attack as the work of North Korean hacker group Lazarus Group (also known as TraderTraitor/UNC4899). The day after the breach, the attacker split roughly 75,700 ETH — worth approximately $175 million at the time — into several new addresses, bridged the funds to the Bitcoin network via THORChain, then mixed them using Wasabi CoinJoin and Tornado Cash. This activity briefly pushed THORChain’s daily transacti