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Tag: CRYPTOS FoxBusiness.

  • Franklin Templeton says Wall Street fears blockchain because it threatens its profits

    The future of asset management is shifting on-chain, but the transition is exposing a major structural conflict over traditional corporate revenue.

    Speaking on a panel at the Proof of Talk summit in Paris, Jenny Johnson, CEO of Franklin Templeton, a $1.74 trillion asset manager, openly addressed the industry hesitation to deploy decentralized networks. According to Johnson, major financial firms are dragging their feet because public blockchain architecture directly challenges their existing profitability.

    “This technology threatens a huge number of business models that exist today in traditional finance,” Johnson stated bluntly. “If you see any kind of hesitation, it’s because there is a threat to the business model. Think about the toll-takers in a transaction.”

    She explained that if a blockchain can handle settlement instantly via a smart contract, large banks can no longer collect transaction fees as third-party intermediaries.

    While crypto-native networks favor open architecture, traditional financial systems are beginning to migrate to public networks due to the significant transaction efficiencies. To demonstrate the cost savings, Johnson cited Franklin Templeton’s history running its tokenized money market fund, Benji, on public networks.

    “It was so dramatically cheaper,” Johnson explained, breaking down the internal data. “It cost us about $1.30 a transaction for 50,000 transactions on the old system. And it cost us about $1.13 to run on the Stellar blockchain.”

    Johnson’s mention of Benji comes just hours after the Wall Street giant announced it is expanding its digital asset strategy through a new partnership with MoonPay that will allow institutional investors to move between stablecoins and the asset manager’s tokenized money market fund through an onchain workflow.

    “In everyday life, anybody—individual, medium, or large enterprise—we want to have a trusted party,” Johnson noted. “We don’t want to keep our assets in our private wallets, in our safes at home. We want to delegate this peace of mind to a third party. And that’s why custodians or banks still have a future.”

    The shift of institutional wealth into digital assets will depend entirely on building standard, low-cost compliance rails for legacy investment funds. While Blockstream CEO Adam Back pointed out that bitcoin allows users to maintain true fiscal privacy without an institutional partner, Johnson concluded that standard investors will continue to demand a heavily regulated custody layer.

  • ENI, Noos Protocol Advance AI-Powered Coordination Layer for Decentralized Networks

    ENI, Noos Protocol Advance AI-Powered Coordination Layer for Decentralized Networks

    ENI, a popular enterprise-centered blockchain network, has partnered with Noos Protocol, a cutting-edge Web3 infrastructure platform. The partnership is poised to start the next stage of AI-led infrastructure and wider decentralized innovation. ENI disclosed in its official social media announcement that the partnership combines its enterprise-scale blockchain capabilities with Noos Protocol’s focus on scalable data networks and intuitive coordination. Therefore, with this move, both platforms are endeavoring to create the latest opportunities for users, enterprises, and developers looking for interconnected and more effective decentralized solutions.

    🤝 Collaboration Announcement@ENI__Official is joining forces with @NoosProtocol to accelerate the next wave of AI-powered infrastructure and decentralized innovation.

    By combining ENI’s enterprise-grade blockchain ecosystem with Noos’ vision for intelligent coordination and… pic.twitter.com/pQIPrY7Sou

    — ENI (@ENI__Official) June 2, 2026

    ENI and Noos Protocol Alliance Enhances AI-Driven Web3 Infrastructure with Focus on Scalability

    In collaboration with Noos Protocol, ENI is establishing the foundation of a more connected and smarter decentralized future. In this respect, the partnership is set to address the challenges of interoperability, scalability, and efficiency. ENI has become a key platform providing enterprise-level blockchain solutions to back organizations and businesses that need transparent and secure digital operations.

    Hence, ENI’s infrastructure focuses on expanding the adoption of blockchain technology across diverse sectors, letting enterprises utilize decentralized technologies while making no compromise on reliability or efficiency. While partnering with Noos Protocol, the platform attempts to advance such capabilities with the inclusion of cutting-edge AI-led functionalities. These abilities can enhance operational performance and decision-making within decentralized settings.

    In the meantime, Noos Protocol pays significant attention to the development of scalable data ecosystems and intuitive coordination mechanisms to back advancing requirements of Web3 apps. The vision of the platform centers on the establishment of a robust infrastructure to allow decentralized networks to effectively manage resources and data while maintaining transparency and openness. The collaboration with ENI permits it to gain access to a resilient blockchain model that can bolster intuitive technologies’ deployment.

    Empowering Enterprises and Builders with AI-Led Blockchain Solutions

    ENI deems this partnership a key effort that shows a wider market trend of integrating blockchain and AI technologies to unlock additional use cases. Together, the respective technologies have the capability to redefine the way digital networks interact and operate. Ultimately, by promoting innovation with this synergy, the partnership aims to strengthen communities, enterprises, and builders while offering cutting-edge technologies and tools.

  • US Spot Bitcoin and Ethereum ETF Outflows Deepen! Here’s All the Data

    US Spot Bitcoin and Ethereum ETF Outflows Deepen! Here’s All the Data

    Investor outflows from US-based spot Bitcoin and spot Ethereum ETFs continue unabated. On June 2nd, a net outflow of $519.23 million was recorded from US spot Bitcoin ETFs. This marked the 12th consecutive day of net outflows from Bitcoin ETFs.

    According to the data, the total capital withdrawn from spot Bitcoin ETFs in the last 12 days has reached approximately $3.98 billion. The largest outflow was seen in the IBIT fund, managed by BlackRock, with $388.68 million.

    Grayscale Investments GBTC fund followed with an outflow of $83.51 million, and Fidelity Investments FBTC fund with an outflow of $45.14 million. Additionally, ARK Invest ARKB fund experienced an outflow of $16.67 million, while Morgan Stanley’s MSBT fund stood out with a net inflow of $14.77 million.

    On the other hand, a similar picture is observed in spot Ethereum ETFs. Ethereum ETFs traded in the US saw a total net outflow of $90.14 million on June 2nd. This development revealed that investors have been withdrawing funds from Ethereum ETFs for the 16th consecutive trading day.

    The largest outflow on the Ethereum side occurred in BlackRock’s ETHA fund, totaling $44.27 million. Grayscale’s Mini $ETH fund saw a $25.41 million outflow, Fidelity’s FETH fund a $15.63 million outflow, and Grayscale’s ETHE fund a $3.87 million outflow. BlackRock’s staking-focused ETHB fund also recorded a net outflow of approximately $960,000.

    Experts note that the ongoing capital outflows from ETFs reflect a decline in investors’ short-term risk appetite, and that the cryptocurrency markets will continue to be shaped by macroeconomic developments and institutional investor behavior in the coming period.

    This is not investment advice.

  • TRON Expands Across Europe With TRXUSD X-Perps Launch — What’s Next for TRX?

    TRON Expands Across Europe With TRXUSD X-Perps Launch — What’s Next for TRX?

    • The financial product has been approved under the Markets in Financial Instruments Directive (MiFID) to operate in 30 countries.
    • The cumulative transfer volume of the TRON network exceeded $26 trillion, registering more than 382 million user accounts.
    • The ecosystem hosts approximately $90 billion in stablecoins, where USDT represents nearly 98% of that total.

    TRON DAO and OKX Europe Markets Ltd announced the regulatory launch of TRXUSD X-Perps. This regulated derivative instrument tied to the native token $TRX is already available to investors in the European Economic Area (EEA).

    Thanks to this new financial tool, trading participants will have the option to speculate on $TRX price movements. Official information from TRON DAO indicates that users can take market positions without the need to directly acquire or store the digital asset in their wallets.

    The financial vehicle offers a structured leverage level of up to 10x for capital management. Market reports suggest that this operational scheme could elevate the profit and loss potential for traders in the European environment.

    The contract has a fixed five-year expiration term, and its execution is carried out through cash settlements. A periodic funding mechanism balances buy and sell positions to avoid severe deviations from the underlying asset’s trading price.

    Infrastructure Development and TRON Metrics

    At the time of the report’s publication, the token was trading near $0.34, registering a 1.41% decline over the last 24 hours. The coin’s daily trading volume increased by 25% to reach $782 million during that same timeframe.

    The total market capitalization of $TRX stood at approximately $32 billion. Operational metrics provided by the organization indicate that the ecosystem maintains an estimated average of 10 million daily transactions.

    The total value locked (TVL) on the TRON blockchain network exceeded $29 billion. Statistical data from DeFiLlama shows that the protocol is one of the main settlement environments for Tether, hosting the majority of said supply.

    The founder of TRON, Justin Sun, stated that expanding derivatives exposure in Europe represents a milestone in the maturity of the ecosystem. The executive noted that community users now have alternative access routes under trading platforms that comply with local legal standards. Implementation will continue to be monitored under EEA financial guidelines during the current commercial cycle.

  • Prediction market traders bet bitcoin’s selloff has further to run

    Prediction market traders are increasingly wagering that bitcoin’s correction is far from over, even after the cryptocurrency tumbled toward $65,000 this week amid mounting pressure from ETF outflows and weakening institutional demand.

    On Kalshi, traders currently assign a 66% probability that bitcoin drops below $55,000 this year and a 50% probability of sub-$50,000 prices. They also give a 31% chance that prices could even dip below $40,000.

    Polymarket traders are expressing a similar view. Contracts on the platform imply a roughly 67% chance bitcoin falls below $55,000 this year and a better-than-even chance it drops under $50,000.

    On prediction platform Polymarket, traders now give bitcoin only a 30% chance of outperforming gold in 2026. Gold is down approximately 1.5% in the last month but is up 33% in the last year while $BTC is down around 37%.

    This comes amid dwindling institutional appetite for the leading cryptocurrency. According to data from SoSo Value, traders withdrew $2.4 billion from U.S.-listed $BTC ETFs in May and $1 billion in the first two trading days of June, with the record-breaking outflow continuing.

    Meanwhile, K33 Research argues that bitcoin is also losing a battle for investor attention against artificial intelligence-related stocks. As CoinDesk previously reported, in a report on Tuesday, the firm said many investors view the opportunity cost of holding bitcoin as too high while AI-linked companies continue to post outsized gains and major equity indexes push to record highs.

    “Much of the market views the opportunity cost of holding $BTC as too high while anything AI-related soars,” K33’s Vetle Lunde wrote.

    While K33 still views bitcoin as undervalued relative to equities over the long term, prediction markets suggest traders are increasingly positioning for lower prices before any recovery arrives.

    While traders increasingly bet on lower bitcoin prices, capital does not appear to be leaving crypto entirely. Instead, it is increasingly moving into digital dollars.

    USDT and USDC have both gained market share during bitcoin’s slide to $66,000, CoinDesk previously reported, a sign that traders are raising cash and waiting for better opportunities rather than immediately buying the dip.

  • XMR price mirrors past bear cycles – What if Monero loses $340 support?

    XMR price mirrors past bear cycles – What if Monero loses $340 support?

    Monero [$XMR] followed Bitcoin’s [$BTC] dump and shed 6% of its value on the 2nd of June. As of writing, the privacy coin traded at $344 and was at an inflection point that could determine a short-term relief or a broader drawdown.

    Notably, after $XMR bulls failed to decisively reclaim $400, the market structure flipped to bearish. But there they still have one last line of defense: the 2-year trendline support that stopped the H2 2025 drawdown and the February 2026.

    If defended, the support could become another springboard to $4380-$4400, or about 15% potential upside. Crack it, and the altcoin could trigger a 2022-style bear drawdown. So, which way for $XMR traders? Let’s explore the charts for clues.

    Source: $XMR/$USDT, TradingView

    Are bears waiting for this signal?

    On the higher time frame (HTF) charts, especially the monthly chart, the current price action mirrored the 2017 and 2022 style bear market drawdown.

    In the two cycles, $XMR declined by about 80% and 61% after cracking the multi-month trendlines. Another telltale sign during the two occasions was a MACD death cross (white circles).

    Source: $XMR/$USDT, TradingView

    As of press time, the chart was about to flag a MACD death cross. If this is followed by a definitive drop below the trendline support (yellow dotted line), $XMR could fall to $217 (50 weekly SMA, white) or a 37% likely plunge from the current levels.

    Privacy segment takes a hit

    The privacy narrative is one of the potential catalysts that could help bulls defend the key trendline. Although Zcash [ZEC], another privacy coin, fell with $XMR and $BTC, it had reversed the losses as of writing.

    However, if the narrative wanes and $BTC extends its pullback, then $XMR’s trendline support will likely be under pressure.

    For long-term privacy bulls seeking a re-entry into $XMR, the current level could be deemed a great buying zone. However, if past patterns repeat, there could be an even better discounted level if the trendline support is broken.

    For short-sellers, a decisive crack below the support ($340) would signal more profit-making opportunities as $XMR’s pullback could extend to $217 or below.

    Final Summary

    • Monero’s $XMR slipped by 6% and fell to a key inflection point that could trigger a rebound or further drawdown.
    • A sustained stay below $340 if $BTC bearishness extends could drag $XMR’s price lower.

  • Bitcoin’s ‘fear gauge’ surges nearly 20%, its biggest jump since Feb. 5 crash

    Bitcoin traders are finally taking the price selloff seriously. The cryptocurrency’s fear gauge, the BVIV index, shows it.

    BVIV, which measures the 30-day implied or expected volatility in the cryptocurrency, surged nearly 20% on Tuesday to 46.45%. That’s the biggest single-day spike since Feb. 5, according to data source TradingView.

    Here’s why it matters.

    For roughly two months, the bitcoin market sentiment was calm. Even when $BTC dropped from its early May high of $82,000 to $75,000 last week, the market sentiment barely flinched. The BVIV actually remained around its year-to-date low of 40% during that move.

    In other words, it was orderly selling. No panic. But that changed Tuesday as $BTC‘s spot price fell over 6% to $66,000.

    The BVIV index exploded with that price drop. The index is essentially a fear gauge. When it rises, traders are aggressively buying options to protect against further downside. Tuesday’s nearly 20% surge signals that protection buying is back.

    To put Tuesday’s move in context: back on Feb. 5th, BVIV surged over 50% in a single day, hitting above 90% as bitcoin crashed toward $60,000. Tuesday’s jump is nowhere near that level. But the direction of the move is what traders should care about right now.

    VIX like behavior

    Think of BVIV like bitcoin’s version of Wall Street’s VIX fear gauge. Since U.S. bitcoin ETFs launched over two years ago, institutional players have flooded into the market. That institutionalization has created something interesting: BVIV now moves in the opposite direction of bitcoin’s spot price with increasing consistency. Price drops, fear spikes. Price rises, fear fades.

    That’s a relatively new dynamic for crypto, but not so much on Wall Street where the S&P 500 and its fear gauge, the VIX, have been inversely correlated for decades.

    The takeaway is that after two months of unusual calm, fear is creeping back into the bitcoin market. Whether Tuesday’s spike is a one-day blip or the start of a sustained volatility regime remains to be seen.

  • Bullish crypto bets lose $1.6 billion as ETH, SOL, DOGE drop 9%

    Bullish crypto bets lose $1.6 billion as ETH, SOL, DOGE drop 9%

    Crypto traders hoping the market would catch up to the global stock rally were left nursing tears on Wednesday as a sharp price drop triggered the largest liquidation event since early February.

    Roughly $1.84 billion in crypto leveraged positions were liquidated across the past 24 hours as bitcoin plunged below $66,000 and ether (ETH) broke under $1,900, the largest single-day wipeout since February 5 and a near-pure flush of long bets, with longs taking $1.66 billion of the total and shorts only $180 million, per CoinGlass data.

    A liquidation is when an exchange automatically closes a leveraged trade because the trader’s losses have exceeded the collateral they posted to open it. Long positions bet that the price will rise, while short positions are bets on prices falling.

    Bitcoin longs absorbed $883.66 million of the damage, ether longs another $475.73 million and solana (SOL) longs $91.18 million, with the remaining roughly $390 million spread across HYPE, DOGE, SUI, BNB, NEAR, AAVE, LINK and the broader top-30 long book.

    The single largest order was a $59.67 million $BTC-USDT long unwinding on HTX.

    Binance accounted for $748 million of the total liquidations, or roughly 41% of the cascade, with 89% of those positions long. Hyperliquid handled $314 million, of which 94% were longs, and Bybit logged $247 million with 93% longs.

    Meanwhile, Bitcoin open interest, the total value of all unsettled leveraged futures contracts, actually rose during the cascade.

    The contract count climbed from roughly 759,000 $BTC to 788,600 $BTC even as the long book was being wiped out, per CoinGlass data. Rising open interest into a falling price can indicate new short positions are opening rather than long positions closing, signaling that fresh bearish bets are building on top of the long flush rather than the cascade finding a clearing level.

    The positioning split is uneven across trader types. Retail bitcoin traders on Binance, OKX and Bybit are still leaning long at ratios of 2.22, 2.01 and 1.58 respectively, refusing to capitulate even after the wipeout, while whale accounts on OKX have flipped to a 0.54 long-short ratio that CoinGlass flags as ‘extremely bearish.’

    Aggregate taker volume across the period showed $65.39 billion in sells against $60.16 billion in buys, with sellers as the marginal actors.

    OI rising into a falling price, retail still leaning long, and whale accounts flipping short on OKX all point to a market that has not found a clearing level. A break below $65,000 brings $60,000 into play; a hold opens the door to a relief bounce, but the positioning data argues against the bounce being the more likely outcome.

  • Bitcoin Bulls Crushed: Sub-$70,000 Crash Flushes $428M In Longs

    Data shows bullish bets related to Bitcoin have suffered a massive amount of liquidations as the asset’s price has plunged below the $70,000 mark.

    Bitcoin Falls Below $70,000 For The First Time Since April

    Following up on the bearish tone set during the second half of May, Bitcoin has opened June with another drawdown as its price has slipped under $70,000 for the first time since April 7th.

    Below is a chart that shows how the latest bearish action has looked for the cryptocurrency.

    $BTC has gone downhill during the past day | Source: BTCUSDT on TradingView

    Over the last 24 hours, Bitcoin has gone down by nearly 5%, hitting the $69,400 mark. Interestingly, while the original digital asset has suffered this blow, Ethereum, the second-largest token by market cap, has managed to hold up relatively well, being down by just 0.7% inside this window. Even many altcoins have seen smaller losses than $BTC.

    The reason behind the disproportionate decline in Bitcoin may lie in the fact that its bearish action was triggered at least in part by a rare sale from Strategy, the largest treasury holder of the asset. Meanwhile, Bitmine, the Strategy-equivalent for Ethereum, announced another acquisition instead.

    As $BTC’s drop during the past day has been significant, it has caught out a significant number of traders on the derivatives market.

    $BTC-Related Liquidations Have Crossed $445 Million

    According to data from CoinGlass, a notable amount of liquidations related to Bitcoin have racked up on centralized exchanges over the last 24 hours. “Liquidation” here refers to the forceful closure that any open contract undergoes after it has amassed a certain percentage in losses (as defined by the specific platform).

    As displayed in the below table, total liquidations related to the digital asset sector have broken the $800 million mark.

    The liquidations have heavily tended toward long contracts | Source: CoinGlass

    Out of these, more than $689 million in contracts involved were long positions. In percentage terms, this figure is equivalent to more than 85%. This dominance of bullish liquidations naturally makes sense in the context of the decline that the market has faced during the past day.

    As Bitcoin was struck particularly hard inside this window, it was by far the biggest contributor to the liquidations.

    The heatmap related to the latest market liquidations | Source: CoinGlass

    From the above heatmap, it’s visible that a total of $445 million in $BTC contracts were liquidated in the last 24 hours. The share of long liquidations was notably higher than the average for the wider sector, with more than 95% of contracts involved being bullish bets.

    While Ethereum’s price action has been relatively flat, it still ended up garnering $91 million in liquidations, the second-most behind Bitcoin.

  • Bitcoin plunges below $66,000 as global stocks, AI trades hit fresh records

    The crypto sell-off is worsening as stock markets continue to inch higher every day.

    Bitcoin plunged to a low of $65,708 in Asian morning trading on Wednesday, down 6.4% in 24 hours and 12.3% on the week, as a broad crypto market sell-off accelerated overnight against the sharpest possible backdrop of global equity strength.

    Ether (ETH) broke below $1,900 to $1,839, marking a 7.9% drop in 24 hours and lifting the second-largest cryptocurrency’s weekly decline to 11.1%. Solana’s SOL fell 9.0% to $73.25, BNB lost 7.8% to $636, slid 8.3% to $0.0921 and Tron’s TRX shed 3.4% to $0.3297, per CoinDesk data.

    $BTC traded near $66,280 by Wednesday morning after touching the $65,708 24-hour low, with the range stretching $5,200 from the $70,907 high.

    Global stocks set fresh all-time highs as the AI trade intensified, with the Philadelphia Semiconductor Index rallying almost 6% to a record on Tuesday and Tokyo Electron and Taiwan Semiconductor Manufacturing both reaching new peaks, Bloomberg reported.

    The MSCI All Country World Index set a fresh all-time high on the AI rally that has dominated stocks all year.

    SpaceX was reported to be seeking $135 a share for a $75 billion initial public offering, while S&P 500 and Nasdaq 100 futures held little changed near record levels. South Korean markets were closed for a holiday.

    The crypto sell-off compounds a week of bearish news, starting with Strategy’s (MSTR) first publicized bitcoin sale on Monday, an ongoing record spot bitcoin ETF outflow streak through Tuesday that has crossed $3.2 billion, Mt. Gox’s $739 million transfer to a new wallet on Tuesday, and stalled U.S.-Iran ceasefire negotiations that have kept Brent crude rising for a third straight day on fresh Middle East fighting.

    Hyperliquid’s HYPE remained the lone green outlier in the top 10 by market value, holding a 19.9% weekly gain at $71.98 despite a 3.1% decline in the past 24 hours.

    $BTC‘s $65,000 level is the immediate technical anchor. A break below brings $60,000 into focus, while a hold opens the door to a relief bounce as overleveraged positioning gets flushed.