Bitcoin Retreats to 64,000 USD as Binance Spot Investors Maintain Selling Pressure
Bitcoin’s stability is being tested once again as President Donald Trump ratchets up pressure on Iran and Binance spot investors continue their selling spree.
As of 9:30 a.m. (Korean time) on Monday, the Bitcoin price in South Korea on Bithumb dropped 1.15% from the previous day, settling at 96,096,000 KRW (about 62,544 USD).
Simultaneously, CoinMarketCap reported the global Bitcoin price dipped 1.12% to 63,494 USD.
U.S. and Iranian negotiation teams convened at a lakeside resort in Lucerne, Switzerland on June 21. While Vice President JD Vance reported substantial progress, President Trump opted for a more aggressive stance.
On his social media platform Truth Social, Trump threatened to hit Iran very hard again if Lebanon’s Iran-backed Hezbollah militia isn’t reined in.
Adding to the market turbulence, persistent selling from spot investors on Binance, the world’s largest cryptocurrency exchange, is putting renewed pressure on Bitcoin prices.
Market analyst Exitpump observed that Binance spot market investors are still in selling mode, noting that the recent uptick was driven by futures rather than spot market activity. He cautioned that without robust spot demand, further price gains could be challenging.
Attack Bot Jaredfromsubway Falls Victim to 7.5 Million USD Hack
Jaredfromsubway.eth, a notorious sandwich attack bot, has been hacked, resulting in a staggering loss of 7.5 million USD.
Security firm Blockade reported on June 21 that the attacker exploited smart contracts to trick Jaredfromsubway.eth’s automated bot, gaining approval rights for specific tokens and subsequently draining funds.
In the crypto world, Jaredfromsubway.eth is infamous as one of the most aggressive attack bots. A sandwich attack involves manipulating prices in decentralized finance (DeFi) markets by strategically placing transactions.
While Jaredfromsubway.eth had profited hundreds of millions over the years using this tactic, it ironically became the target of an attack itself.
Taiko Layer 2 Project Hit by 1 Million USD Vulnerability Exploit
Taiko, a Layer 2 blockchain project, fell victim to a vulnerability attack, with losses estimated at 1 million USD.
On Monday, security firm Blockade alerted the crypto community via X (formerly Twitter) about the attack on Taiko.
Taiko swiftly responded to the breach. Following Blockade’s announcement, Taiko urgently advised users to withdraw funds from its Bridge – the infrastructure facilitating asset transfers between Taiko and other blockchains.
Philippine SEC Commissioner Signals Readiness for Real-World Asset Tokenization
The Philippine regulatory body has announced its preparedness to embrace real-world asset (RWA) tokenization.
During the Philippine Blockchain Week on June 20, Rogelio Quevedo, a commissioner at the Philippine Securities and Exchange Commission (SEC), confidently stated that it now possesses the legal framework, understanding, and expertise necessary to integrate asset tokenization.
Quevedo highlighted that asset tokenization could catalyze innovation in capital markets and revolutionize securities exchanges.