Crypto News & Market Updates

BlockBeats News: On June 3, according to official WLFI sources, USD1 will be deployed on the MOVA Chain, with an initial scale of $100 million. This deployment is not a single stablecoin issuance or liquidity access, but an ecological layout centered on stablecoin assets, institutional-level settlement networks, and secure infrastructure for the post-quantum era. In this architecture, USD1 will be integrated into the MOVA ecosystem as an asset and liquidity layer, while MOVA provides infrastructure for its institutional-level, post-quantum on-chain settlement layer. MOVA stated that as stablecoin application scenarios gradually extend from transaction liquidity to payments, clearing, RWA, cross-border settlement, and institutional finance, the next phase of stablecoin infrastructure competition will no longer be determined solely by liquidity but will increasingly depend on the underlying network's security, compliance, scalability, and global settlement capabilities. This $100 million USD1 deployment is seen as an important starting point for building post-quantum stablecoin infrastructure for MOVA. MOVA stated that it will continue to build around institutional-level on-chain settlement, compliant financial applications, and a global stablecoin ecosystem.

BlockBeats reported on June 3 that Bridgewater founder Ray Dalio said in a Bloomberg TV interview today that the artificial intelligence (AI) bubble will eventually burst. Ray Dalio has previously stated multiple times that the current AI boom is in the early stages or formation of a bubble, with typical bubble characteristics: high valuations, excessive speculation, paper wealth far exceeding real money, and other signs, similar to the 2000 internet bubble. But Dalio also emphasized that even if the bubble bursts, it won't negate the long-term revolutionary value of AI technology—most AI-related companies may struggle to survive, but the underlying technology will continue to change the world. It is recommended that investors do not rush to exit but should be wary of triggers that "burst bubbles," such as the Federal Reserve's tightening of monetary policy, while remaining cautious and diversified.

According to Bijie.com, Wu Shuo learned that Edgex released its June 2 Edge event report, stating that Edge's price fell from about $1.12 to about $0.32 within about one hour, then rebounded to around $0.63 to $0.71. EdgeX stated that the incident targeted the Edge token price, the protocol operated normally throughout, user assets were secure, and the team token distribution remained unchanged. Preliminary analysis shows the event is related to thin on-chain DEX liquidity, high-leverage perpetual contracts, and CEX liquidity dynamics. edgex has established a 200,000 USDC on-chain bounty pool and will provide goodwill compensation to users who actually suffered losses due to edge long liquidations or stop-losses between June 2, 04:50 to 06:00 (UTC+8), with a maximum of 100,000 USDC per user.

According to ChainCatcher and Jin Shi, Federal Reserve's Williams stated that U.S. monetary policy is currently in a good position and believes there is no need to raise or lower interest rates. He pointed out that there is no clear direction for interest rate trends in the future. Since the beginning of this year, the Federal Reserve has kept interest rates unchanged, but policymakers have diverged on measures to combat inflation in the face of soaring energy prices. Currently, the unemployment rate remains at 4.3%, close to full employment.

According to ChainCatcher, edgeX officially released a report on abnormal price fluctuations in EDGE tokens, stating that EDGE's price fell from $1.12 to about $0.32 within about one hour, during a period of weak liquidity, with concentrated selling by multiple addresses, high-leverage long runs, and CEX linkage triggering flash crashes, while the team addresses remained unchanged during the period. edgeX stated it will strengthen market making and liquidity, and has set up a 200,000 USDC on-chain bounty to trace the attack's associated address. Additionally, for users who incur actual realized losses within the specified time window due to forced liquidation or stop-loss triggers on edge X Perp V1/V2 long positions on EDGE positions, the platform will provide goodwill compensation based on the actual loss amount, with a cap of 100,000 USDC per person. Of this, 50% of USDC will be distributed within 7 days after review, and 50% will be distributed in EDGE at 7 TWAP in the first week of April 2027.

According to Bijie.com, Moon Dark Side has released Kimi Work, supporting up to 300 Agent collaborations. The beta version of Kimi Work, a universal local agent client for knowledge workers, has been released alongside the latest beta Mac client, and the Windows client is about to go live. Users can schedule files locally via natural language, use browsers, run scheduled tasks, and generate documents, spreadsheets, or presentation PPTs. Moon Dark Side engineers completed client construction using Kimi Code within a week, producing over 50,000 lines of valid code, with an AI-generated rate of 92%. Kimi Work supports up to 13 hours of continuous coding and can autonomously call the tool over 4,000 times in a single task. The client switches from a command-line interface to a graphical user interface, with a built-in Kimi Webbridge solution, integrating Kimi Agent's website building and PPT presentation skills into online versions, supporting multi-agent cluster collaboration for complex tasks.

BlockBeats news: On June 3, Binance Wallet announced that the market will undergo a planned system upgrade from 15:00 to 16:00 (UTC+8) on June 4. During this period, the forecast market service will be temporarily unavailable, and user assets and existing holdings will not be affected.

Odaily Planet Daily reports that Israeli Prime Minister Netanyahu: Trump and I have reached an agreement on the main issue regarding Iran. (Jin Shi)

BlockBeats reports that on June 3, Federal Reserve's Williams expressed support for keeping interest rates unchanged: monetary policy is "just" in the right position, with no need for rate hikes or cuts. We will wait and see how the latest tariff measures develop, as the upside risk of inflation has increased. There is no clear direction for future interest rates, and I do not believe the Fed's forward-looking guidance is particularly helpful. According to CME FedWatch data, expectations for rate cuts within the year have basically been erased, rate hike expectations are reinstating, and there is even a possibility of a 75 basis point hike. As of now, the probability that the Fed will keep rates unchanged for the year through the end of 2026 is 40.9%, with only 0.7% of the probability of a cumulative 25 basis point cut, 41.6% of a total of 25 basis points, 14.6% of a cumulative 50 basis point hike, and a 0.1% chance of a cumulative 75 basis point hike. Additionally, the probability of a 25 basis point rate cut at the Fed's next meeting (June) is 1.7%.