🚨 UPDATE: Zcash founder Zooko discloses a critical counterfeiting vulnerability in Zcash's Orchard pool that could have allowed unlimited undetectable $ZEC minting.

Discovered May 29 and patched by June 2.

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🗞 Catch up on the news over the last 24 hours!

🇺🇸 The US House voted 215-208 to strip Trump of the authority to continue military action against Iran without congressional approval, per WSJ.

🔥 Anthropic has tapped Morgan Stanley, Goldman Sachs, and JPMorgan to lead its upcoming IPO, per Bloomberg.

🚨 Over $1.12 billion liquidated in the past 24 hours, with longs taking the majority of the hit at $949M.

🚨 Peter Schiff says, “The market cap of Tether will soon surpass the market cap of Ethereum. It will eventually surpass the market cap of Bitcoin too.”

🔥 Stripe, Visa, Mastercard, and Coinbase are forming a consortium to launch a new stablecoin to rival Circle and Tether, per The Information.

🚨 Elon Musk says, “We are gradually widening the availability of X Money.”

⚡️ Arthur Hayes dumps his entire $HYPE and $NEAR positions, citing rising energy prices, upcoming AI mega IPOs, and expecting market highs to peak before September.

⚡️ Coinbase is launching pre-IPO perpetual futures, starting with SpaceX.

🔥 Apple is preparing to launch a new Siri in September, reportedly with support from Google and Nvidia.

🚨 JPMorgan, Citi, and major US banks plan to launch a tokenized deposit network next year to fend off growing competition from stablecoins and crypto firms.

🚨 Claude maker Anthropic is calling for a global pause in AI development, warning that models are approaching the ability to self-improve without human intervention.

🇺🇸 A key US House committee is preparing to drop crypto tax legislation as early as Friday, Bloomberg reports.

🚨 Zcash founder Zooko discloses a critical counterfeiting vulnerability in Zcash's Orchard pool that could have allowed unlimited undetectable $ZEC minting. Discovered May 29 and patched by June 2.

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🚨 NOW: Over $526M liquidated in the past 60 minutes, with longs taking the majority of the hit at $479.14M.

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🚨 INSIGHT: Crypto spot trading volume has dropped to its lowest level since October 2023, per CryptoQuant.

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🇺🇸 JUST IN: U.S. payrolls rose by 172,000 in May, much more than expected. Unemployment held steady at 4.3%.

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What would Adam Back change in Bitcoin’s code?

He says Bitcoin may need new signature algorithms in the decades ahead, not because quantum computers are breaking it today, but because the protocol has to be ready before that moment comes.

Then we asked: what’s going on with Bitcoin right now?

His answer is in the full interview. 👇

https://youtu.be/xJYHhbcafQ0

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