The Perpetual Funding Rate on the Whole Network Drops to the Extreme Negative Value, While the Rate Soars Unusually on Binance
June 9: Coinglass data shows that as the price of token H plummeted, its network-wide open interest-weighted funding rate has dropped to an extreme negative level, currently standing at -1.45%. Notably, among all major trading platforms, only Binance’s funding rate comes in at -0.01% (charged hourly), while rates on other mainstream exchanges have fallen to their respective platforms’ lowest extreme negative values. Records indicate Binance’s rate was -0.7% just one hour ago. As the platform with the largest overall trading volume for H contracts across the board, the situation where the contract price has hit 20 times the on-chain price makes a significant spike in the funding rate a development worthy of close attention.
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H Token on BSC Plunges to Near Zero, Now Trading at $0.003, While the Contract Price on Binance is Currently $0.06, 20 Times Higher Than the On-chain Price
June 9: According to on-chain data, the price of H Token on the Binance Smart Chain (BSC) has plummeted to $0.003, likely driven by the incident titled "H Contract Controlled Issuance of 1 Billion Tokens". Meanwhile, H's perpetual contract price on Binance currently trades at $0.06—20 times higher than its on-chain value.
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Metaplanet: Strongly Considering Stock Buyback When mNAV is Less Than 1, Bitcoin Yield is Key Performance Metric
**June 9 News Flash: Metaplanet CEO Details Capital Allocation Focus on BTC Yield in Social Media Post**
Bitcoin treasury company Metaplanet’s CEO Simon Gerovich outlined the firm’s capital allocation priorities in a June 9 social media post, stating that maximizing BTC yield is its core performance metric for shareholders.
Stock buybacks are a foundational part of Metaplanet’s capital allocation policy, which was formalized on October 28, 2025. Under this policy, Gerovich noted, the company will actively consider repurchasing common shares when its price-to-book (P/B) ratio drops below 1.0x—an move designed to lift BTC yield, with lower P/B levels tied to greater potential share price upside.
Buybacks remain a key tool in the company’s allocation strategy, Gerovich added, though any repurchase activity must comply with applicable insider trading rules and disclosure requirements, including guidelines around material non-public information (MNPI) and monthly public disclosure man
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Humanity Attacker Takes Over H Governance on BSC, Mints 1 Billion H
June 9 – Per Blockaid’s monitoring, the attacker targeting the Humanity token has now seized control of the H token’s proxy admin rights on the Binance Smart Chain (BSC) network. The attacker minted an additional 1 billion H tokens (valued at roughly $12.9 million) to a new wallet, further expanding the attack surface.
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SAHARA Flash Crash: Price Plunges Over 60%, Resulting in $22.25 Million Long Liquidations Across the Network
On June 9th, HTX market data reports SAHARA experienced a flash crash of over 60%. It is currently trading at $0.01545, with a market cap of $56.06 million and a fully diluted valuation (FDV) of $161 million.
Additionally, per Coinglass data, total SAHARA liquidations across all exchanges hit $22.45 million in the past hour—$22.25 million of which were long liquidations. This makes SAHARA the most liquidated asset in the hour, double the amount of ETH, which ranked second with $10.62 million in liquidations.
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GMG.AI has completed a core upgrade, reshaping the Web4 Mechanism Trust Standard
On June 9, GMG.AI — a Web4-native full-stack AI ecosystem platform — officially completed two core foundational upgrades: all contracts have fully renounced their permissions, and its over $86 million liquidity pool (LP) has been permanently locked via PinkLock.
This technical upgrade eliminates all potential for manual backdoor modifications, permanently locks in ecosystem liquidity, breaks the industry’s long-standing reliance on the outdated "trust-based on project team promises" model, and sets a new benchmark for "mechanism-driven trust."
Looking forward, GMG.AI will continue integrating AI intelligent agents with its value network, accelerate its push toward a fully decentralized ecosystem, and provide the global Web4 market with secure, long-term predictable infrastructure.
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