Key Takeaways.
Forward Industries sent 455,784 SOL to Coinbase Prime, signaling possible sell pressure ahead. Zcash patched Orchard’s June 1 bug as Hayes sold ZEC, leaving traders watching exploit fallout. JPMorgan, Citi and Binance framed 2027 deposits and $5T equities as TradFi’s next crypto push. WEEK IN REVIEWEditor’s comment:
Arthur Hayes Dumps His Entire ZEC Bag After Orchard Exploit, Prices Down Nearly 50%
Editor’s comment:
Hayes was one of the early ZEC bulls, so this is an abrupt reversal, albeit potentially justified. As Mert Mumtaz put it in a recent interview: “You can be as angry as you are, but like fundamentally, that just means he has edge over you.”
Zcash Patches Critical Bug Enabling Unlimited Counterfeit ZEC Minting as Price Crashes 41%
Editor’s comment:
Researcher Taylor Hornby essentially found a bug that would let him create unlimited counterfeit ZEC within a shielded pool, and while it has been fixed as of June 1, it’s unclear as to whether or not any bad actors were actually able to take advantage of it. Further research will be needed, but all things considered, ZEC is still up 500% in the last year.
JPMorgan, Citi and America’s Biggest Banks Plan Tokenized Deposit Network: Report
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