We’re only a few days in, and the crypto world is already buzzing. From a U.S. Senator revealing that military generals want a national Bitcoin reserve to prepare for tensions with China, to Morocco cracking down on crypto kidnappers and Coinbase grappling with a major data breach, this week’s headlines are nothing short of explosive.
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Biggest Story
U.S. Military Leaders Reportedly Support Strategic Bitcoin Reserve Amid China Tensions
U.S. Senator Cynthia Lummis has revealed that several high-ranking military officials, particularly generals stationed in Southeast Asia, are backing the idea of creating a national Bitcoin reserve. In a June 3 interview with Bloomberg, Lummis explained that these military leaders see Bitcoin as a vital asset in what she described as an ongoing “economic war” with China. Highlighting the increasing significance of digital assets in global power dynamics, Lummis claimed that Bitcoin could serve as a hedge in both economic and potential military conflicts, emphasizing the need for the U.S. to be prepared on both fronts.
Her comments reflect broader geopolitical concerns as U.S.-China tensions continue to mount, particularly following the trade policies enacted during President Donald Trump’s administration. With digital financial systems becoming central to global strategy, U.S. Vice President JD Vance also echoed similar sentiments at the Bitcoin 2025 conference, framing Bitcoin as crucial to preserving U.S. dominance in the evolving digital economy.
Other News Making Waves
- Crypto.com’s derivatives arm files suit against Nevada regulators, claiming the state overstepped its bounds by classifying sports event contracts as gambling, not federally regulated financial products. (More)
- Moroccan police arrest a suspect tied to high-profile crypto kidnappings in France, including attacks targeting Paymium and Ledger executives’ families. (More)
- Ethereum co-founder Vitalik Buterin concedes Bitcoin’s edge in simplicity, decentralization, and protocol stability, while defending Ethereum’s innovation and security strengths. (More)
- Trump family members disavow a newly launched crypto wallet branded as “Official $TRUMP,” stating they have no involvement and warning of unauthorized use of their name. (More)
- Trump’s media firm, TMTG, partners with Yorkville America Digital to file for a Truth Social-branded Bitcoin ETF, marking a deeper push into crypto amid ethical concerns. (More)
- A Coinbase data breach affecting nearly 70,000 users was traced to a TaskUs employee who sold stolen customer data to hackers before public disclosure. (More)
- Taiwan’s BitoPro lost $11.5M in a hack but only confirmed it weeks later, after funds were laundered through mixers and bridges across multiple chains. (More)
- Binance founder CZ calls for urgent solutions to front-running on DEXs, suggesting the use of hidden transaction details to protect users and ensure DeFi’s credibility. (More)
- A New York court denied bail to Nicholas Truglia, accused of kidnapping and torturing a victim to steal $1 million in Bitcoin, citing risk to public safety. (More)
- Elon Musk’s X launches XChat, an encrypted messaging tool with calls, disappearing messages, and file sharing, aiming to rival Telegram and Signal. (More)
Around the World: Bold Moves and Crypto Regulations
- China leverages its leadership in the SCO to accelerate de-dollarization, promoting local currencies and the digital yuan to reduce reliance on the US dollar. (More)
- Pakistan unveils plans for a Strategic Bitcoin Reserve and AI-powered crypto economy during high-level talks at the White House. (More)
- The Czech government is facing a no-confidence vote over a Bitcoin scandal involving allegations of crypto misuse by officials for corrupt purposes. (More)
- Australia imposes new rules on crypto ATMs, including cash limits and scam warnings, to combat rising fraud targeting users over 50. (More)
- The SEC will shift from enforcement-led crypto regulation to a rulemaking approach under Chair Paul Atkins, prioritizing transparency. (More)
- California passes AB 1180, advancing plans to allow crypto payments for some state fees and modernize digital finance oversight. (More)
- Singapore orders unlicensed crypto firms to halt overseas operations by June 30, tightening compliance under its Payment Services Act. (More)
Market Trends: Winners and Losers
Top 5 Gainers 📈
According to data from CoinGecko, these are the five biggest gainers of the week:
- Build On BNB +436.36%, from $0.000000018539 to $0.000000099420
- Polymath +387.86%, from $0.04122141 to $0.201100
- Incrypt +247.17%, from $0.00670562 to $0.02328629
- GIZA +199.71%, from $0.123800 to $0.371103
- LiquidLaunch +150.74%, from $0.01904308 to $0.04775569
Top 5 Losers 📉
According to data from CoinGecko, the five biggest losers of the week are:
- WalletConnect Token -59.35%, from $1.066 to $0.433380
- MinoTari -49.61%, from $0.073490 to $0.03701805
- Dego Finance -50.39%, from $2.58 to $1.28
- Status -30.39%, from $0.03841348 to $0.02673865
- Nobody Sausage -36.14%, from $0.04316984 to $0.02757007
Project Spotlight
Kraken Expands Institutional Reach with Advanced Trading Platform
Kraken has unveiled a powerful institutional trading platform, offering access to over 90% of global crypto market liquidity, advanced trading tools, and a unique credit facility that enables margin trading without pre-funding. Designed for hedge funds, asset managers, and high-frequency traders, the platform bridges traditional finance with crypto, enhancing capital efficiency and execution reliability. Backed by robust security and strategic liquidity partnerships, Kraken’s move positions it as a leader in institutional crypto services. The exchange also plans to acquire NinjaTrader for $1.5B, expanding its U.S. futures and derivatives offerings through a Futures Commission Merchant license.
Why It Matters:
Kraken’s institutional pivot deepens market maturity, giving professional investors flexible, high-volume trading tools aligned with traditional finance standards.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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