Bitcoin recovered above $64,000, SpaceX raised a record $75 billion in its IPO, U.S. authorities imposed restrictions on two Anthropic AI models, and more from the past week.
Bitcoin extends gains on hopes of a U.S.–Iran truce
At the start of the week, bitcoin rebounded to around $64,000. The market then came under pressure again amid conflicting statements from the parties to the Persian Gulf conflict — the U.S. and Iran.
By the weekend, persistent claims by President Donald Trump that a deal was near pushed oil prices lower and helped drive bitcoin above $64,000.
Over the week, the first cryptocurrency gained more than 4%.
Leading altcoins tracked bitcoin’s positive move, with Solana and Hyperliquid’s token outperforming, up 5.26% and 5.47% respectively. TRON was an exception, falling 3.4%.
U.S. spot bitcoin ETFs saw outflows for a fifth straight week, but the figure narrowed to $315.8 million from $1.72 billion previously.
On Friday, the products attracted $85.8 million, a positive signal for the market.
Ethereum funds also lost capital for a fifth consecutive week, with $14.9 million in outflows over the last week. That was well below prior periods, which ranged from $168.2 million to $255 million.
The crypto fear and greed index inched up from 12 to 18. The metric remains in the zone indicating extreme investor fear.
Total market capitalization recovered to $2.2 trillion. Bitcoin’s dominance rose from 58% to nearly 59%. Ethereum’s share held around 9.2%.
SpaceX completes largest IPO on record
Elon Musk’s SpaceX priced its shares at $135 in the largest initial public offering (IPO) in history. On June 12, the stock began trading on Nasdaq.
The company sold 555.5 million shares and raised $75 billion. That more than doubled Saudi Aramco’s 2019 listing.
By the end of the debut session, the stock had risen to about $161. SpaceX’s market capitalization reached $2.1 trillion.
In the first quarter, revenue increased 15% to $4.69 billion, while net loss totaled $4.28 billion. The Starlink satellite internet service is the main revenue driver. The company structure also includes the artificial intelligence unit xAI.
SpaceX’s market debut could spark a wave of AI-related IPOs. Following Anthropic, OpenAI confidentially filed with the U.S. Securities and Exchange Commission for a listing on June 8.
What to discuss with friends?
- On-chain data indicated bitcoin miners’ capitulation.
- Google declined to participate in a U.S. quantum program.
- Humanity Protocol’s token plunged after a $31 million hack.
- Russia’s crypto tax bill passed its first reading.
Anthropic disabled the Fable 5 and Mythos 5 models
On June 12, Anthropic suspended access to its Fable 5 and Mythos 5 models, which it had introduced three days earlier. The move followed a U.S. government export-control directive.
The company said the directive formally bans access for any foreign nationals, including Anthropic’s foreign employees. As a result, the service was shut down entirely.
Anthropic linked the authorities’ decision to a technique for bypassing Fable 5’s safeguards. The company said it reviewed the demonstration and saw only a small number of previously known minor vulnerabilities. According to Anthropic, such flaws are relatively simple, and other publicly available models can find them without bypassing restrictions.
On June 10, Anthropic CEO Dario Amodei published an essay, “Policy in the Age of Exponential AI.” He examined the risks tied to rapid technological progress and urged authorities to tighten AI regulation and move from disclosure requirements to mandatory safety testing for the most powerful models.
At the same time, according to WSJ, Reuters, and The Information, the U.S. government initiated measures against Anthropic’s latest products after an appeal by Amazon CEO Andy Jassy. He told Treasury Secretary Scott Bessent and other officials that company researchers had used Claude Fable 5 to obtain information suitable for cyberattacks.
David Sacks, former adviser to President Donald Trump on AI and cryptocurrencies, confirmed that a “trusted partner” reported a jailbreak. The administration allegedly asked Amodei to either close the vulnerability or withdraw the model — he refused.
Following the incident, tokens of decentralized AI projects Venice and Morpheus spiked. Over 24 hours, VVV and MOR gained 14% and 21%, respectively.
MetaMask opens early access to Agent Wallet
The MetaMask team opened early access to Agent Wallet — a non-custodial wallet that can execute actions on a user’s behalf.
The product automates interactions with decentralized applications, combining smart accounts and AI agents.
At launch, the wallet supports swaps, perpetuals, prediction markets, LP positions, and other DeFi scenarios across EVM networks and Hyperliquid.
Users retain control of their keys and can export the seed phrase at any time. Before starting, they set limits and rules for the agent. MetaMask said keys are protected by a trusted execution environment.
For transactions on Ethereum, Linea, Arbitrum, Avalanche, Optimism, Base, Polygon, BSC, and Sei, features include simulation, threat scanning via Blockaid, and MEV protection in Smart Transactions.
Also on ForkLog:
- Kalshi tightened its fight against insider trading and added employer verification.
- Jeff Bezos’s AI startup raised $12 billion for industrial AI.
- Bitcoin mining difficulty plunged 10%.
- OpenAI will turn ChatGPT into an AI super app.
Zcash developers agreed on the Ironwood upgrade
The Zcash team agreed on consensus changes for the Ironwood upgrade. The upgrade will launch a new shielded pool and limit the supply of ZEC following a recent vulnerability in Orchard/
The old liquidity pool will receive a separate label: after activation, new users will be prohibited from interacting with it, but the ability to publish logs will remain.
Wallets will stop accepting incoming transfers to Orchard and will route assets to Orchard addresses under Ironwood.
Activation is scheduled for July. Ironwood is the next step after an emergency fix for a critical Orchard bug discovered in late May that theoretically allowed unlimited fake issuance of ZEC.
After the vulnerability was fixed, the token’s price surged more than 41%.
What else to read?
Examined how Strategy’s business model works, why critics call it a pyramid scheme while supporters see effective risk management, and what was behind the recent sale of part of its crypto reserve.
Analyzed the systemic crisis at the Ethereum Foundation affecting tokenomics, governance, and staffing. We also tried to answer how the conflict between institutional visions for the second-largest cryptocurrency relates to Vitalik Buterin’s uncompromising stance and sales of ETH by early investors from the ICO era.
Compiled the week’s most notable security events in our traditional digest.
