Coinbase has officially terminated its partnership with TaskUs following a costly data breach that exposed sensitive customer information, resulting in a $400 million loss. The breach, traced back to TaskUs
Pi Network is intensifying its focus on gaming to counteract a recent 17% decline in its token value, signaling a strategic pivot under the leadership of co-founder Nicolas Kokkalis. The
Robinhood’s acquisition of Bitstamp for $200 million marks a pivotal consolidation in the cryptocurrency sector, enhancing global reach and service offerings. This strategic move combines Robinhood’s retail investor appeal with
The Ethereum Foundation has laid off members of its research and development team and restructured its Protocol Research and Development division, now rebranded as simply “Protocol,” as it looks to sharpen focus on scaling and usability. In a blog post published Monday, the Foundation said the changes are meant to support “a new level of focus and collaboration” as Ethereum enters what it called “its best shot at deploying not only our technology, but our values, at planetary scale.” To deliver on that vision, the Foundation is aligning Protocol around three priorities — “scale L1, scale blobs, improve UX.” Each area is now mapped to a strategic initiative and leadership team, meant to ensure greater accountability and resource focus. Announcing Protocol https://t.co/LMANvhQ0X3 — Ethereum Foundation (@ethereumfndn) June 2, 2025 ‘Protocol’ Division to Operate With Streamlined Teams Following Staff Reductions The Foundation said: “The changes we’re announcing today are a departure from our previous ways of working, but we feel these set us on a more responsive and effective path.” It added, “Protocol is now a more united and leaner organization with more focused teams.” As part of the restructuring, “some members of PR&D won’t be continuing with the Ethereum Foundation.” The Foundation encouraged others in the community to hire those affected, saying, “We hope these individuals continue on in the Ethereum ecosystem.” Ethereum Foundation Appoints Leaders Across Key Focus Areas The leadership team now includes Tim Beiko and Ansgar Dietrichs, who will focus on Layer 1 scaling. Meanwhile, Alex Stokes and Francesco D’Amato will lead efforts on Layer 2 scaling. In addition, Barnabé Monnot and Josh Rudolf will oversee improvements in user experience. Dankrad Feist will serve as a strategic advisor across all three areas. The blog also noted the importance of execution, saying, “Each of these goals is now mapped to a strategic initiative for Protocol, a shared workspace to bring our complementary talents together.” As Ethereum’s technical roadmap grows more complex, the need for faster iteration is also increasing. In response, the Foundation pointed to the importance of tighter collaboration. It noted: “Rapidly transitioning research into prototypes and to production means that we need tighter collaboration and feedback loops.” The Ethereum Foundation is now inviting new contributors to join Protocol, particularly for open roles such as a UX Lead and a Performance Engineering Lead. “Let’s do it together. Let’s ship Protocol,” the post concluded. The post Ethereum Foundation Lays Off R&D Staff, Restructures Under ‘Protocol’ Banner appeared first on Cryptonews .
On Tuesday, the dollar fell to its weakest point in six weeks after new signs showed Trump’s trade policies were hurting the U.S. economy. On Tuesday, the dollar index hardly changed after falling to 98.58, its weakest level since late April. Compared to the Japanese yen, the dollar was at 142.71, which is nearly a one-week low. The euro hovered around $1.1446 after briefly climbing to $1.1454, its strongest in six weeks. Data on factory production and job growth, due later this week, may show the extent of the damage the trade war is causing. Even though global stock markets have bounced back, the dollar itself has continued to weaken. On Wednesday, U.S. duties on imported steel and aluminum will double to 50%. The day also marks the deadline for other nations to submit their best proposals in ongoing trade discussions with Washington. Rodrigo Catril, a senior foreign-exchange strategist at National Australia Bank, said, “What this whole dynamic is basically saying is trade tensions are not really improving in that regard, and we’ve seen the dollar getting hammered widely.” He added that the Australian and New Zealand dollars have held up well. New Zealand’s currency gained 0.1 percent, rising to $0.6045, a fresh peak for 2025. The Australian dollar held steady at $0.64951. Investors are now looking ahead to the European Central Bank’s meeting later in the week, when the bank will announce its decision on interest rates and offer guidance for the months ahead. U.S. debt worries trigger “Sell America” trend On Monday, the dollar index fell 0.8 percent after data showed U.S. manufacturing shrank for the third straight month in May, with tariff-related delays slowing supplier delivery times. Last week, the dollar briefly recovered, rising 0.3% when talks with the European Union resumed. In addition, the U.S. trade court blocked most of Trump’s proposed tariffs. However, an appeals court overturned that tariff block a day later, and the administration said it would look for other ways to enforce the tariffs if necessary. Concerns over the U.S. government’s finances have also weighed on investor sentiment, leading to a broader “sell America” trend that has pushed down stocks and Treasury bonds in recent months. This week, the Senate will review the administration’s tax-cut and spending plan, which could add $3.8 trillion to the federal debt. The U.S. now owes about $36.2 trillion, and lawmakers will discuss how this new plan affects the budget over the next ten years. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
On June 2, Strategy announced that it plans to offer an IPO of “10% Series A Perpetual Stride Preferred Stock” at $100 per share under the ticker STRD. It intends to use the net proceeds from the offering for “general corporate purposes, including the acquisition of Bitcoin and for working capital,” it stated. The firm is enabling preferred stock options to “institutional investors and select non-institutional investors,” said Saylor. Strategy today announced the launch of $STRD (“Stride”), a new perpetual preferred stock offering, available to institutional investors and select non-institutional investors. For more information, click here. $MSTR https://t.co/D2Wy9M2bqa — Michael Saylor (@saylor) June 2, 2025 Preferred Stock Offering There will be a 10% annual dividend rate, but payments are not mandatory, and dividends are non-cumulative. Dividends will be paid quarterly, and the first payment will be on September 30, 2025. Strategy retains the right to redeem all 2.5 million shares if less than 25% remain outstanding, and it can also redeem if certain tax events occur, it stated. This preferred stock offering gives the firm more capital to buy more Bitcoin while offering investors a potential 10% dividend. However, the dividends aren’t guaranteed, and the company can skip them without penalty. Additionally, there is an adjustable liquidation preference, which is an unusual feature designed to protect investors if the stock price rises significantly after issuance. Moreover, the involvement of major investment banks such as Barclays, Morgan Stanley, and TD Securities, as underwriters, suggests this is a substantial fundraising effort. “Our treasury strategy is designed to provide investors with varying degrees of economic exposure to Bitcoin by offering a range of securities, including equity and fixed income instruments,” the firm stated in the prospectus. Strategy Buys More BTC On June 2, Strategy announced that it had purchased a further 705 BTC, worth $75.1 million, at around $106,495 per BTC. The firm has been making regular purchases following Michael Saylor’s tweeting a screenshot from his portfolio tracker . The latest Bitcoin buy brings its treasury to 580,955 BTC or almost 3% of the circulating supply. The huge stash is worth $61.46 billion at current market prices and has an unrealized profit of 51% or $20.7 billion and a dollar cost average purchase price of $70,000 per BTC. The firm’s class A stock (MSTR) gained a little on the day to reach $372 in after-hours trading, according to Google Finance. Shares in the company are up 28.5% year-to-date. Bitcoin had gained marginally on the day to top $106,000 during the Tuesday morning Asian trading session. The post Strategy Announces Proposed IPO of STRD Stock to Buy More Bitcoin appeared first on CryptoPotato .
The Kurdistan Regional Government (KRG), the official executive body of the semi-autonomous Kurdistan Region in northern Iraq, has ordered the Ministry of Interior to create a special committee to shut down companies operating in the fields of electronic trading and digital currencies. The directive, issued by the Presidency of the Council of Ministers and dated
South Korea saw its first institutional digital assets sale following the start of its ban lift on institutional crypto transactions. The positive development came two days before the snap presidential elections, scheduled for June 3, 2025. First Institutional Crypto Sale In South Korea On Sunday, South Korean non-profit organization World Vision made the first digital assets sale by an institution in the country. In a statement from Dunamu, Upbit’s parent company, the crypto exchange announced that it had supported the historical first sale of 0.55 Ether (ETH) by a corporation for 1.98 million won, equivalent to $1,437. Starting June 1, 2025, non-profit organizations, including charities and universities, are permitted to sell crypto holdings through local exchanges as part of the Financial Services Commission (FSC) roadmap for corporate participation in the digital asset market. In February, the FSC’s Virtual Asset Committee announced it would gradually lift its ban on institutional investment in digital assets by allowing the creation of real-name accounts for institutions, starting with non-profits in Q2 2025. In South Korea, real-name accounts are required for crypto investments, with only the accounts that have completed this verification under the Specified Financial Transaction Information Act being allowed to invest in digital assets. Nonetheless, the FSC had guided banks not to issue these accounts to corporations, limiting institutional crypto trading despite the absence of legal barriers or official bans. As Dunamu revealed, World Vision was able to connect its K Bank corporate account to its Upbit account and successfully sold the Ethereum received as donations three months ago through the exchange’s KRW market. Dunamu and the non-profit conducted a digital assets donation campaign in March, targeting Upbit users to purchase school uniforms, backpacks, and other essential items needed for the new school year for vulnerable teenagers who struggle to afford them. Upbit’s parent company revealed its plan to continue supporting non-profit organizations to sell their digital assets received as donations while “adhering to guidelines established by financial authorities and the industry to establish a healthy virtual asset donation culture.” Additionally, it announced it is preparing for the second phase of FSC’s roadmap, where qualified publicly traded companies and professional investors will be allowed to access the digital asset market in Q3 2025. A New Era For Digital Assets? This key development for the South Korean crypto industry will be followed by the June 3 snap presidential election to replace impeached president Yoon Suk-yeol, who attempted to declare martial law in December 2024. Despite the outcome, digital asset investors in the country are expected to benefit, as the two major candidates vowed to implement industry-friendly policies to capture the nearly 18 million people who invest in digital assets in South Korea. As reported by Bitcoinist, the People Power Party (PPP) candidate, Kim Moon-soo, announced he will allow spot crypto Exchange-Traded Funds (ETFs) if he wins. Kim vowed to push for approval of digital asset-based investment products and other financial policies to increase the wealth accumulation of the middle class. Kim’s camp cited the increasing number of digital asset investors in the younger generations as a decisive factor for incorporating spot ETFs and the institutionalization of digital assets into the pledges’ list. Meanwhile, the Democratic Party of Korea (DPK) candidate, Lee Jae-myung, also pledged to introduce spot crypto ETFs and lower digital assets transaction taxes in the country. Lee promised to “create a safe virtual asset investment environment by establishing an integrated surveillance system” and “expand the cryptocurrency market while simultaneously strengthening investor protection.”
FTX has initiated the second phase of its ambitious $5 billion creditor repayment plan, marking a significant milestone in its Chapter 11 bankruptcy proceedings. This repayment phase, facilitated through Kraken
COINOTAG News reported on June 3rd that Kyle Samani, co-founder of Multicoin Capital, provided insights regarding the Ethereum Foundation’s recent workforce reduction and strategic pivot. Samani emphasized that the term