[News Brief] Jun 2, morning | BTC Falls Below $71,000

BTC Falls Below $71,000

According to Odaily, BTC fell below $71,000 based on OKX market data.

BTC is currently trading at $70,999, down 3.71% over the past 24 hours.

Major Crypto Sectors Mostly Decline

According to Odaily, data from SoSoValue showed that most major cryptocurrency sectors moved lower.

Bitcoin (BTC) fell 3.60% over the past 24 hours to below $71,000, while Ethereum (ETH) dropped 0.92% to under $2,000.

The PayFi sector declined 4.15%, with XRP down 3.26% and Stellar (XLM) falling 11.45%. Ultima (ULTIMA) rose 2.79%.

By contrast, the SocialFi sector gained 7.03%. Toncoin (TON) rose 4.18%, and Chiliz (CHZ) climbed 5.71%.

The AI sector advanced 3.13%, with Worldcoin (WLD) surging 18.53%. The DeFi sector rose 2.98%, and the meme sector gained 1.09%.

Iran Claims Cruise Missile Strike on Vessel Linked to the U.S. and Israel

According to Odaily, Iran's Islamic Revolutionary Guard Corps said on the night of June 1 local time that it had struck the vessel “Sariska,” which it said was linked to the U.S. and Israel, with a cruise missile in retaliation for what it called a U.S. attack on an Iranian vessel in the Gulf of Oman.

The IRGC Navy said it would respond firmly to any U.S. military action in the area, but did not disclose the exact timing of the operation.

Earlier, the UK Maritime Trade Operations had reported that a cargo ship sailing near waters off southern Iraq in the Persian Gulf was hit by an unidentified projectile, causing a major explosion.

Trump Reiterates Continued Hormuz Strait Blockade

President Trump said the U.S. would continue enforcing the blockade of the Strait of Hormuz after Iran halted negotiations.

The source was Watcher.Guru. The remarks may weigh on sentiment toward risk assets, as rising U.S.-Iran tensions could spill over into maritime logistics and energy market uncertainty.

Japan's LDP Pushes Crypto ETF Legalization and Wider Use of Yen Stablecoins for Payments

Japan's Liberal Democratic Party is pushing to establish a legal framework for cryptocurrency ETF trading and expand the use of yen-denominated stablecoins in cross-border payments.

PANews, citing Cryptopolitan, reported that the LDP's blockchain promotion group submitted a related proposal to Finance Minister Satsuki Katayama. The party said crypto ETFs should be institutionally recognized in Japan because they offer easier access for investors than direct holdings.

The LDP also asked for government support so yen-denominated stablecoins can be used as a payment gateway in the Asian payments market. JPYC has already issued more than 1 billion yen, and major Japanese banks have also conducted stablecoin experiments.

Coinbase CEO Says U.S. Crypto Regulatory Clarity Bill Nears Passage

Coinbase's chief executive said legislation in the U.S. Congress aimed at bringing regulatory clarity to bitcoin and cryptocurrencies is nearing passage.

According to @pete_rizzo, the Coinbase CEO described the bill as “the biggest financial bill in decades” and said it is “transformational” in nature.

He also said that “every major bank” wants to enter the crypto market. The remarks came as U.S. lawmakers continue discussions on legislation to clarify market structure and regulatory standards for digital assets.

Charles Schwab Plans to Launch Spot Crypto Trading for Advisors in 2027

Charles Schwab plans to launch spot cryptocurrency trading services for financial advisors on its custody platform in 2027, according to PANews, citing Citywire.

Jalina Kerr, head of advisor experience at Charles Schwab, said development is proceeding smoothly and that while the launch date has not been finalized, it is expected around mid-2027.

Kerr explained that digital assets are not regulated uniformly like traditional securities, so careful review is needed from deposits to withdrawals. She added that advisors currently mostly manage client crypto exposure through ETFs, but demand for spot trading has recently been increasing.

Robinhood Completes Acquisition of Canada's WonderFi

Robinhood Markets completed its acquisition of Canadian digital asset services firm WonderFi on June 2, according to Odaily.

The acquisition was valued at $180 million. WonderFi operates the regulated Canadian crypto platforms Bitbuy and Coinsquare, and users can migrate to the Robinhood app.

Robinhood said the acquisition pushed its non-U.S. customer base above 1 million. The company had previously expanded its institutional crypto business through its acquisition of Bitstamp.

U.S. Spot XRP ETFs See $4.13 Million in Net Inflows

According to SoSoValue data, U.S. spot XRP ETFs recorded total net inflows of $4.132 million on June 1 (U.S. Eastern Time).

All of the day's inflows came from the Canary XRP ETF (XRPC), whose cumulative net inflows reached $459 million.

As of the time of reporting, total net assets in spot XRP ETFs stood at $1.11 billion, with XRP net assets accounting for 1.38%, while cumulative net inflows totaled $1.427 billion.

Kalshi Submits CFTC Filings for Perpetual Contracts on 12 Altcoins Including ETH, XRP, SOL, and DOGE

Prediction market platform Kalshi has submitted self-certification filings to the U.S. Commodity Futures Trading Commission (CFTC) to launch perpetual contracts tied to 12 altcoins, including Ethereum, XRP, Solana, and Dogecoin, according to Decrypt.

The list also includes Stellar, Chainlink, Bitcoin Cash, Litecoin, Sui, Shiba Inu, Polkadot, and Hedera. While the CFTC previously approved bitcoin perpetual contracts, it said other assets would be reviewed individually, meaning Kalshi's latest filings have not yet been approved.