Cardano Foundation's 1090 BTC Turns Into "Confused Account," Prominent Creditors' Rights Investor Calls for Public Disclosure of Fund Usage
June 8th. Thomas Braziel, a cryptocurrency bankruptcy creditor, posted on social media, stating that per Isle of Man company registration filings and Cardano’s official website, the predecessor to the Cardano Foundation – the Isle of Man Foundation – was set up during the 2015 ICO. Cardano founder Charles Hoskinson served as a supervisor for the foundation, which received roughly 1,090 Bitcoin (BTC). Now that the foundation was dissolved in December 2025, Braziel is calling for full public disclosure of the BTC’s whereabouts and the foundation’s governance documents. He clarifies he is not currently alleging any misconduct, only requesting greater transparency. As of press time, the Cardano team has not issued a response.
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Analyst: Long-Term Holder Bitcoin Continues to Flow Back to CEX, Bitcoin May Struggle to Sustain Rally
June 8th: Analyst Shayan cited CryptoQuant data, reporting that the "Spent Output Age Bands" on-chain platform chart shows a sharp uptick in old coins flowing into exchanges—especially holdings that have been dormant for 3 to 6 months and 6 to 12 months. The recent inflow spikes rank among the largest peaks ever logged on the chart, and all aligned with extended periods of Bitcoin price decline.
Historically, large inflows of coins from long-term holders to exchanges have often signaled intensifying sell-off activity: coins dormant for months are being moved to exchanges, likely for imminent sale. While individual spikes don’t guarantee further price drops, repeated inflow surges during a bear market typically reflect waning confidence among holders.
The latest data shows mid-term holders have grown more active amid the recent pullback. If these inflows persist, they will keep exerting selling pressure, making it challenging for Bitcoin to sustain a short-term recovery. Overall,
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Bybit removes SpaceX On-Chain IPO Subscription Cap, Opening Participation to All Users
June 8 — Per official statements, crypto trading platform Bybit announced the upgrade of its on-chain stock IPO subscription product, Bybit IPO Express, making it accessible to all eligible users with no prior subscription limits or user tier-based restrictions. Participants can now subscribe freely based on their individual investment needs.
The upgraded offering includes tokenized IPO subscriptions for SpaceX in collaboration with xStocks. This makes Bybit one of the world’s first centralized exchanges (CEXs) to provide tokenized IPO access at primary market pricing, expanding the on-chain stock asset trading landscape. The tokenized SpaceX shares issued here are fully backed by the xStocks issuer, pegged 1:1 to actual equity, and meet institutional-grade regulatory compliance standards.
SpaceX xStocks IPO Subscription Timeline:
- Registration & Subscription Period: June 7 – June 11
- Allocation Period: June 11 – June 12
- Spot Trading Launch: June 12
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Analyst: Crypto Market Weekend Price Action Sees 'Deleveraging' Rally, Not Reversal
June 8. Cryptocurrency market analyst Axel Adler Jr. noted that last Friday (June 5), the crypto market saw its sharpest sell-off of the month, with a net outflow of $236 million. Bitcoin’s price briefly dropped to $60,500.
But buying pressure began to return on June 7. During an 8-hour stretch between 00:00 and 08:00 UTC that day, a pulse candle registered a net inflow of roughly $620 million. Buying momentum carried over into June 8, with an additional $320 million in inflows, pushing Bitcoin’s price up around 3.7% from its recent low to roughly $62,700.
In the near term, order flow has tilted toward the demand side, though the derivatives market hasn’t mirrored this shift yet. Even with the price bounce, futures open interest fell from a June 7 peak of $1.65 billion to $1.55 billion—roughly a 6% drop. Over the past 24 hours, the funding rate has stayed positive, ranging from +0.001% to +0.020%.
Axel explained that the mix of "rising prices, falling open interest, and a positive f
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Institution: Tech Stock Plunge Not an AI Logic Reassessment, Key is to Watch Giant Capex Slowdown
June 8. Asian markets extended last week’s steep selloff on Monday, with South Korea’s KOSPI index plunging more than 8% – led by semiconductor stocks.
Mark Vale, Investment Director at Lucerne Asset Management, stated: “This wave of selling looks more like a pullback from leveraged positions and momentum-driven trades than a reassessment of artificial intelligence’s long-term growth narrative. South Korean tech stocks have been among the world’s best-performing equities for some time. Given their highly concentrated market positioning, these stocks were a natural source of liquidity as interest rate expectations shifted following last week’s non-farm payrolls report. The big question right now is whether mega-cap firms will pull back on AI spending. So far, there’s no evidence of that.”
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