Ethena said on June 5 (UTC+8) it intends to add AAA-rated collateralized loan obligations (CLOs) to the reserve assets backing USDe. LlamaRisk, an Ethena Risk Committee member, completed an independent due-diligence review and approved a tokenized AAA CLO fund issued by Janus Henderson via Centrifuge as an eligible reserve asset. The approval includes a single-position cap of about $310 million. The change is expected to take effect after the final decision is posted on the Ethena governance forum. Ethena also noted that certain asset classes are explicitly excluded, including private credit and long-duration fixed income that lack sufficient liquidity or pricing transparency. Source: Foresight News

Zcash extended its selloff to more than 50% following the disclosure of a bug, triggering heavy unwinding across the market. Total liquidations linked to the move have climbed above $100 million.

Ripple's cross-border token XRP fell 14% over the past week, even as the company continues to post headline expansion moves and partnership announcements. Recent Ripple-related developments included collaborations with Turkish crypto platforms BiLira, Bitexen and Bitlo aimed at supporting adoption and use of RLUSD. Mastercard also broadened its settlement infrastructure to let merchants and partners settle transactions in multiple cryptocurrencies, including the USD-pegged stablecoin. Ripple added to its U.S. footprint with an expanded office in Washington, D.C., while sentiment around spot XRP ETFs was described as largely positive. The upbeat updates failed to offset a broader crypto selloff. XRP is trading around $1.13, according to CoinGecko. Bitcoin (BTC) slipped to roughly $61,000, while several altcoins such as Zcash (ZEC) and Bitcoin Cash (BCH) sank by nearly 30%. Large-holder activity added to the pressure. As CryptoPotato reported, whales sold or redistributed 50 million coins over a seven-day period, amplifying fears that smaller investors could follow with additional selling. Bitcoin extended its losses after dropping more than $20,000 over the past month. The asset recently touched about $61,000, its lowest level since February, and was trading near $62,800 at the time of writing, down about 15% on the week. The decline has fueled a fresh round of bearish calls. Analyst Ali Martinez argued that breaking below $72,000 leaves BTC "in a vulnerable position," with MVRV Pricing Bands pointing to the next major support area between $50,000 and $54,000. Ted described $49,000 as "a good bottom zone," comparing the setup to the August 2024 low. Longtime crypto critic Peter Schiff said a break of $50,000 could trigger a drop toward $20,000, adding that a fast slide below $20K could shake long-term holders and prompt capitulation. Cardano (ADA) has been among the hardest-hit large-cap tokens in the drawdown. ADA fell to $0.15, its lowest level since late 2020, before bouncing modestly to around $0.165. One catalyst cited for the move was a recent statement from Cardano founder Charles Hoskinson, who said he is "taking a break" and warned of an upcoming "wave of failures in the ecosystem." A recent positive for the project was Cardano's partnership with the Brazilian Olympic Committee (COB), though it did not stop the selloff. The post Recent Ripple (XRP) Developments, Bitcoin (BTC) Price Forecasts, and More: Bits Recap June 5 appeared first on CryptoPotato.

Zcash disclosed a "critical counterfeiting vulnerability," triggering a sharp selloff in its token. ZEC fell 38% following the announcement.

ZEC slid about 50% after news of a counterfeiting vulnerability. Dip-buying activity persists among large holders: a newly created wallet withdrew 37,316 ZEC (around $13.12M) from #Binance about 40 minutes ago.

Ripple has launched its regulated stablecoin, RLUSD, on the XRPL EVM Sidechain, aiming to connect XRP Ledger liquidity with Ethereum-style decentralized finance applications. The move is designed to broaden XRP's usefulness in areas such as lending, payments, collateral and liquidity across supported networks. RippleX said RLUSD is now live on the XRPL EVM Sidechain, which supports Ethereum Virtual Machine compatibility. Developers can use familiar Ethereum tooling and standards—including Solidity smart contracts, MetaMask and common Ethereum development frameworks—while remaining connected to the XRP Ledger ecosystem. The setup is intended to make it easier for projects already built for Ethereum-based environments to integrate with XRP-related infrastructure. With RLUSD available on the EVM sidechain, RippleX expects it to plug into an ecosystem that includes decentralized exchanges, lending and borrowing protocols, and tokenization applications. RippleX added that rising demand for regulated stablecoins within smart-contract ecosystems helped drive RLUSD's expansion to the XRPL EVM Sidechain. A key part of the rollout is cross-chain functionality. RippleX said the integration uses Wormhole's Native Token Transfers standard, allowing RLUSD to move between supported blockchains as a native asset rather than a wrapped token. The company said native transfers can help reduce liquidity fragmentation and streamline multi-chain use for both developers and users. RippleX also pointed to XRP's expanding role alongside RLUSD, saying XRP can increasingly serve as a liquidity and settlement asset, a collateral option and a payment tool across supported DeFi applications. EVM compatibility could enable deeper participation in lending markets, decentralized exchanges and tokenized-asset platforms that rely on Ethereum-compatible infrastructure. Community members also shared screenshots showing RLUSD deployments on the XRPL EVM Sidechain explorer, including test deployments, as integration continues. The launch marks another step in Ripple's multi-chain strategy to expand RLUSD adoption and increase XRP's presence across DeFi networks built around Ethereum-compatible tooling.

Correction: Forward Industries transferred 455,784 SOL (about $31.87 million) to Coinbase Prime after roughly a month of wallet inactivity. Past large transfers to Coinbase Prime were later described as custody or staking-related movements and did not reflect an actual reduction in holdings. Since rolling out its Solana treasury strategy in September 2025, the company has accumulated approximately 6.83 million SOL at an average cost of $232.08. Forward Industries currently holds around 7 million SOL valued at about $458 million, implying an unrealized loss of roughly $1.13 billion.

By Zhou, ChainCatcher On June 5, privacy-focused cryptocurrency Zcash (ZEC) suffered a single-day drop of more than 56%, wiping out nearly two months of gains and briefly erasing about $5 billion in market value. Derivatives data shows roughly $100 million in 24-hour liquidations across ZEC contracts. Long liquidations exceeded $760 million, ranking behind only BTC and ETH. The selloff was linked to disclosure of a zero-knowledge proof vulnerability that had existed for roughly four years in Zcash's newest private transaction pool, Orchard. In theory, the bug could allow an attacker to mint unlimited ZEC while remaining hidden by the pool's privacy protections. The issue was permanently fixed via a hard fork on June 3. Even so, Orchard's privacy design makes it impossible to provide cryptographic proof that the flaw was never exploited during the period it existed, fueling market doubts about ZEC's historical supply integrity. BitMEX co-founder Arthur Hayes said he exited his entire ZEC position, while on-chain data also showed large short positions booking sizable gains, further pressuring sentiment. How the flaw worked and how it was found Orchard is Zcash's third-generation privacy layer, launched in May 2022. The vulnerability stemmed from insufficient constraints on an element inside the circuit. An attacker could feed false inputs into elliptic curve multiplication while still passing circuit verification, enabling unlimited counterfeit ZEC to be created within Orchard. Because of Orchard's privacy properties, such minting would leave no externally observable on-chain traces. According to reports, independent security researcher Taylor Hornby identified the issue on May 29. Shielded Labs, an independent security organization, had engaged Hornby in April to conduct a focused audit of the Zcash protocol. On May 28, Anthropic released Claude Opus 4.8. The next day, Hornby integrated it into a customized AI audit framework, performed targeted analysis of the Orchard circuit, and found the vulnerability. He also built a complete exploit in a local test environment to confirm that infinite minting was technically feasible. That night, he reported the issue to the Zcash Open Development Laboratory (ZODL). ZODL engineers confirmed the issue within hours and moved into emergency response. On the morning of June 2, Zcash pushed an emergency soft fork via Zebra 4.5.3, temporarily disabling all Orchard transactions. At 12:05 p.m. Beijing time on June 3, mainnet completed the NU6.2 hard fork at block height 3,364,600, activating the patched circuit and closing the vulnerability. About five days elapsed from discovery to the hard fork. The Zcash Foundation said this marked the second protocol upgrade triggered by a security issue since Zcash launched in 2016. It added that there are no known exploits, the network's total supply safeguard confirmed the integrity of total supply, and user privacy, as well as Sapling and transparent transactions, were unaffected. Post-fix: anxiety persists Despite the patch, a key concern remains: if forged funds were never moved into the transparent pool, today's tooling cannot detect anomalies on-chain. In other words, the conclusion of "total integrity" is based on observable data rather than cryptographic proof. Since the flaw has existed since May 2022, it cannot be definitively ruled out that it was exploited at some point. Shielded Labs said exploitation is unlikely, citing three points: the bug went undiscovered for years, suggesting a very high technical barrier; it was surfaced through proactive auditing rather than accidental exposure; and the patch window was extremely short. Even so, the statement underscores that the risk cannot be disproven. To narrow this gap, Shielded Labs said it is working with multiple developers on upgrade proposals, including new privacy pools and mandatory "turnstile" accounting checks for any tokens exiting Orchard, allowing public verification of supply integrity. A proposal is expected next week and would require community governance approval. Crypto investor Simon Dedic argued the episode is shifting perceptions in two ways: privacy can be a protocol risk, not just a benefit; and AI-assisted auditing lowers the bar for discovering major vulnerabilities, raising the security-audit burden across crypto. On-chain analyst Haotian said the core issue is "unclear explanations." He noted that Shielded Labs' proposed round-trip audit approach can only show that current supply is below the amount ever deposited into the pool, and still cannot account for potential historical hidden losses. He also pointed to a structural tension between verifiable supply and privacy black boxes, a dilemma that ZEC cannot easily resolve. Panic accelerates the selloff While the technical fix is in place, markets appear to have reacted to the full implications of the disclosure. On June 5, Zcash founder Zooko Wilcox, Shielded Labs, and Hornby jointly published a detailed write-up describing exploitability, the feasibility of infinite minting, and the inability to cryptographically prove the flaw was never used due to Orchard's privacy features. The publication intensified market fear. That same day, Hayes confirmed he had sold all ZEC. He said the probability of malicious minting is extremely low but cannot be formally ruled out at the cryptographic level. In his view, privacy as a value proposition requires "perfect security," not "probabilistic security." He added he may consider buying back at lower prices if later assumptions prove wrong. Hayes had previously been one of ZEC's most vocal proponents, at times describing it as his second-largest personal holding and suggesting ZEC could reach 10% of BTC's price, calling the earlier rally a move with "significant upside potential." His public exit weighed on sentiment. On-chain analysts said that as ZEC fell below $400, a 3x leveraged short opened by Garrett Jin at $626.47 was showing tens of millions of dollars in unrealized gains. Some market participants argued the plunge cannot be attributed solely to the vulnerability. Crypto KOL DaShiBro said the prior rally had already shown signs of large capital inflows, and the vulnerability headline may have simply provided an exit catalyst, with heavy spot selling the more immediate driver. He added that a "strong-consensus blue chip" with a $12 billion market cap losing $6 billion in one day illustrates how hard consensus is to build in crypto, how easy it is to break, and how long recovery could take.

Ripple's cross-border payments narrative may be gaining momentum as partner Thunes rolls out real-time settlement in the U.S., a move that could broaden XRP's practical utility for remittances and institutional payment flows. Thunes has established a direct connection with a Tier 1 U.S. bank, enabling access to ACH, Same Day ACH and U.S. real-time payment rails, according to XFinanceBull on X. The link is integrated into the same network that taps Ripple's blockchain-based payments infrastructure and uses XRP as a bridge asset, supporting smoother on- and off-ramps into U.S. banking channels. Thunes already holds 50 Money Transmitter Licenses in the U.S., allowing it to operate across all states and territories. Its network reaches around 140 countries, supports 90 currencies and connects to more than 12 billion endpoints spanning mobile wallets, stablecoin wallets and bank accounts. With direct U.S. real-time settlement now embedded, participants in over 140 countries gain a more direct route to send funds into the U.S. through rails associated with Ripple technology. Ripple's payments stack reports 90+ payout markets and more than $70 billion in processed volume. The Thunes integration effectively extends that ecosystem into Tier 1 U.S. banking via a fully licensed partner. In parallel, institutional interest in tokenized real-world assets on the XRP Ledger is also building. The XRPL RWA segment surpassed $3 billion in tokenized value in April, according to analyst BankXRP on X and comments from Luke Judges, Partner Director at RippleX, shared during Istanbul Blockchain Week. Market observers expect the next wave of tokenization to concentrate on cash and cash-equivalent instruments such as money market funds and U.S. Treasury bills, alongside tokenized equities. Thunes' U.S. real-time settlement rollout strengthens the payment plumbing that can route global flows through Ripple's infrastructure and XRP. Coupled with rising institutional activity in XRPL-based tokenization, the development could support faster liquidity pathways and product expansion as blockchain payments and tokenized assets move closer to mainstream finance.