Three wallets believed to be tied to Ethereum cofounder Joseph Lubin have staked 412,430 ETH, worth about $653 million, and borrowed 259 million DAI, crypto analyst Ai Yi (@ai_9684xtpa) said, citing on-chain data. The position's collateral health ratio slipped below 1.2 during yesterday's ETH selloff. The Lubin-linked address later topped up collateral by roughly 110,000 ETH, pushing the ratio back above 1.48. Ai Yi added that Lubin obtained 540,000 ETH in the 2015 Ethereum ICO at around $0.31 per token. With the added collateral, the risk of liquidation on the leveraged position has fallen markedly.

Onchain analytics provider Lookonchain (@lookonchain) reported that an early Ethereum holder spent $55.8 million over the past two days to acquire 35,723 ETH at an average price of about $1,563, with room for additional buying. About a week earlier, the same address sold 60,000 ETH at roughly $2,040 and 9,442 wstETH at around $2,540, generating approximately $117.25 million and $24 million, respectively.

ME News reported that on June 7 (UTC+8), Lookonchain data showed an Ethereum OG is back in the market after a large reduction in exposure. The wallet sold 60,000 ETH for about $117.25 million roughly a week ago at around $2,040 per ETH, along with 9,442 wstETH worth about $24 million. Over the past two days, the address has spent $55.8 million to purchase 35,723 ETH at an average price of $1,563 per ETH, and may continue accumulating, according to the monitoring. (Source: PANews)

Huo Xing Finance reports that Lookonchain data show an Ethereum OG wallet has returned to buying after a major sale last week. The address previously sold 60,000 ETH for $117.25 million at about $2,040 per coin, along with 9,442 wstETH valued at $24 million. Over the past two days, the wallet spent $55.8 million to purchase 35,723 ETH at an average price of $1,563, and the accumulation may continue.

U.S. stocks ended sharply lower Friday, with the Nasdaq posting its steepest daily decline since April 2025. The tech-heavy index settled at 25,709, down 4.18%. The S&P 500 fell 2.64%, while the Dow Jones Industrial Average dropped 1.35%, or 695 points. Semiconductor names led the pullback. Marvell slid 16%, Micron fell 13%, and Intel and AMD each lost 11%. Broadcom declined more than 7%. The move was fueled by Broadcom's softer AI outlook and a hotter-than-expected U.S. jobs report, which pushed 20-year and 30-year Treasury yields back above 5%. Market volatility surged, with the VIX jumping 34%.

JPMorgan Chase, Bank of America, Citigroup and other large U.S. lenders said Friday they intend to roll out a shared tokenized-deposit network through The Clearing House in the first half of 2027, a move aimed at bringing bank deposits onto blockchain rails while keeping them inside the regulated banking system. The proposed platform would represent deposits as digital tokens that can move and settle 24/7 on blockchain infrastructure, giving traditional bank money faster settlement and added programmability—features that have helped stablecoins gain traction. The push reflects growing concern that stablecoins such as Circle's USDC and Tether's USDT, now the dominant form of onchain cash for trading, cross-border transfers and yield products, could pull retail and corporate funds out of bank accounts and into crypto wallets. Banks see tokenized deposits as a way to support onchain workflows without losing custody and regulatory control of customer funds. TD Securities' Reid Noch described the market as a three-way contest among stablecoins, tokenized deposits and tokenized money-market funds to become the primary onchain cash instrument. He also pointed to potential efficiency gains, with blockchain rails reducing costs and settlement frictions in domestic and cross-border payments that often take one to two business days today. Digital Chamber CEO Cody Carbone called the effort a milestone for blockchain adoption, arguing that the largest U.S. banks choosing to go onchain signals broader commitment from mainstream finance. The initiative does not imply an embrace of crypto's open, permissionless model. As Noelle Acheson has noted, banks have long tested private blockchains that tightly control participants and transaction activity. The Clearing House effort would extend that private approach across multiple institutions while remaining separate from public networks where stablecoins circulate freely. While some executives have publicly played down the competitive risk from stablecoins, banks appear to be planning for material impact. A Jefferies report in March estimated stablecoins could drive a 3%–5% runoff in core deposits over the next five years and reduce average bank earnings by about 3%. If successful, the Clearing House project could provide a scalable alternative for corporate payments and treasury operations, competing directly with stablecoins for enterprise liquidity and onchain cash management. More broadly, it highlights a continuing shift: traditional finance is adopting blockchain-based tools even as it competes with crypto-native products built on the same rails. Bottom line: U.S. banks are not ceding the onchain cash market—they're building a bank-backed version designed to keep deposits within the regulated system while delivering many of the speed and efficiency benefits that made stablecoins popular.

Kraken is offering eligible clients in more than 110 markets a pre-listing route into SpaceX — delivered in a crypto-native format. Under its xStocks IPO Access program, verified users can register interest in an allocation that, if granted, will be issued as SPCXx, a tokenized claim backed 1:1 by SpaceX shares, rather than a traditional brokerage position. The feature is available only through the Kraken mobile app, not Kraken Pro or the desktop site. It is also restricted to customers outside the US, Canada, Australia and the UK. Kraken's support materials indicate the offer is live across the EEA and most other regions. Kraken is positioning the product as a way to widen access to IPO-style allocations, which in conventional offerings often skew toward large institutions and a limited set of brokerage clients, leaving most retail investors able to buy only after public trading begins. Once issued, SPCXx tokens can trade 24/7 on Kraken and other participating xStocks venues, instead of being limited to standard market hours. That round-the-clock trading gives the tokenized exposure a different profile than a typical stock listing. SpaceX is seen as a strong test case given intense demand. Bloomberg reports interest has already exceeded available shares. SpaceX is expected to begin public trading on June 12. Kraken describes the SpaceX rollout as the first major IPO distributed through its tokenized-equities mechanism, part of a broader effort to make tokenized stocks a standard offering on its platform.

ME News reported that on June 7 (UTC+8), Hyperion DeFi—the treasury entity behind HYPE—filed documents showing it has ended an agreement with Felix, a lending protocol on the Hyperliquid platform, that was aimed at establishing a contract market. As part of the wind-down, Hyperion will unlock 500,000 HYPE tokens. Separately, Native Markets, the issuer of USDH, terminated its temporary usage agreement with Hyperion on June 18. The 300,000 HYPE tokens tied to that arrangement were returned on June 3. (Source: Foresight News)

ME News reported that as of June 7 (UTC+8), the combined 24-hour trading volume of Hyperliquid's five most-traded assets reached about $412 million. Spot index products contributed close to 60% of that turnover. MU carried the steepest cost for long positions, with an annualized funding rate of 125%. The top five assets by volume were XYZ100, SP500, CL, MU and MRVL. (Source: D Pro)