HTX, the Justin Sun-owned exchange formerly known as Huobi Global, has reportedly transferred $1.3B in reserve assets to an undisclosed third-party custodian following U.K. sanctions. The move includes 1,719 BTC, 76,515 ETH, 99% of its $238M USDC, and $819M of its $906M USDT, while HTX says it still maintains 1:1 reserves for user assets.

Analyst Benjamin Cowen argues Bitcoin's four-year cycle remains intact, saying the current midterm-year drawdown closely matches past patterns. On-chain observers highlight BTC trading near the 200-week MA Quantile, while CryptoQuant warns price could revisit the realized price around $53.5K as demand weakened sharply. BTC was around $63K at the time of writing after retesting its February low last week.

Coinbase CEO Brian Armstrong said the recent CFTC approval for U.S. crypto perpetual futures could link U.S. and overseas markets, creating pooled liquidity and stronger network effects. He also claimed U.S. users make up a major share of global perp activity, with VPN access to non-KYC venues contributing to volume that reached $7 trillion last year. Data cited in the report showed offshore exchanges still lead, while Coinbase and Hyperliquid posted $10B and $11B in perp volume, respectively.

Binance says tokenized stocks and ETFs are increasingly being traded via crypto platforms, with emerging markets accounting for 93% of current volumes. The exchange's research projects that by 2031, crypto exchanges could add US$2T in incremental capital and nearly 300M new users to global equity markets, with a bullish scenario of up to $5 trillion. The report also flags risks, including higher volatility in RWA perpetuals, unequal tokenized stock terms, and government crackdowns that could restrict capital flows.

Ethics provisions tied to the crypto market structure bill known as the CLARITY Act have hit a "rocky" phase as Senate lawmakers debate how the rules should be enforced. Separately, over 60 crypto firms on June 9 urged the Senate to protect developers' rights, while industry voices argued that regulatory uncertainty can be more expensive than regulation itself.

Sahara AI said it did not cause the sharp selloff in SAHARA and stated that no team tokens were sold. The project explained that a 600 million SAHARA transfer was a pre-scheduled Chainlink CCIP bridge liquidity fill, with another 150 million SAHARA planned for deposit. SAHARA fell 65% in a day before paring losses to 45% at the time of writing, with traders watching $0.02 as a key level.

A House Ways and Means Committee hearing scheduled for June 9 will take up seven draft crypto tax bills covering stablecoin transactions, crypto lending, and charity-related wash sales. The package also includes proposals on mining and staking taxation and a voluntary disclosure program for taxpayers with past crypto-reporting problems. With the congressional calendar crowded ahead of the November midterms, it remains uncertain how quickly any relief could be enacted.

Bitcoin slid to a new yearly low of $59.1K on Friday, after breaking the $60K support on June 5, while some analysts eyed a possible next floor near the $53K realized-price level. The drop sparked fresh arguments over who is driving the selling, with claims ranging from Michael Saylor's reported 32 BTC sale last week to longer-term distribution by "OG whales" and broader macro pressure tied to a U.S. jobs report.

Ethena said on Friday it is evaluating AAA-rated CLOs as a new real-world asset reserve for its yield-bearing stablecoin USDe, aiming to reduce reliance on crypto market cycles. The protocol plans to allocate $310 million to the Janus Henderson Anemoy AAA CLO Fund, arguing this could support more stable returns driven by rates and credit conditions rather than crypto sentiment.