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8 Jun 2026, 11:19
Ripple CTO Says Zcash Holders Are Safe, But the Bug That Could Have Created Fake ZEC for 4 Years Cannot Be Disproven
Ripple CTO Emeritus David Schwartz stepped into the Zcash crisis on June 7, offering a measured reassurance to ZEC holders rattled by the disclosure of a critical zero-knowledge proof vulnerability in the Orchard shielded pool. His position: passive holders who never move their coins will not lose their funds, provided the bug was never actually exploited. That condition is doing enormous structural work in a sentence that sounds like comfort. The core paradox is this. The Orchard vulnerability, patched via an emergency NU6.2 hard fork on June 2, theoretically allowed undetected counterfeit ZEC generation for nearly four years. Zcash’s own developers cannot prove the exploit was never triggered, because the privacy architecture that makes ZEC valuable also makes supply auditing cryptographically impossible. Schwartz’s reassurance is accurate on its own terms. It cannot be a guarantee. This one paragraph has massive implications for Zcash. Hardly surprising the price has plummeted. "The vulnerability could have been exploited to undetectably create an unlimited amount of counterfeit zcash:native within Orchard. Because of the privacy properties of Orchard,… https://t.co/72v9Zafneu — Gareth Jenkinson (@gazza_jenks) June 5, 2026 ZEC fell more than 30% in a single session following the May 29 disclosure, briefly touching its lowest level in over a month. The market was not pricing confirmed exploitation; it was pricing unverifiable risk, which is a different and arguably harder problem to resolve. What Schwartz’s statement actually means for holders, and whether it changes anything structurally, is what the rest of this article addresses. Source: Tradingview Discover: The Best Crypto to Diversify Your Portfolio The Orchard Pool Bug: What the Vulnerability Actually Means for ZEC Zcash’s Orchard pool was introduced with Network Upgrade 5 (NU5) in May 2022, the network’s most advanced privacy layer, built on Halo 2-based zk-SNARKs designed to eliminate the trusted setup requirement of earlier Sapling circuits. The vulnerability resided in an under-constrained element within the elliptic-curve multiplication gadget inside the halo2_gadgets crate. In plain terms, crafted inputs could bypass validity checks and produce counterfeit ZEC that still passed verification. Zcash engineer Taylor Hornby discovered the flaw on May 29, 2026, reportedly with the assistance of AI-assisted formal methods. He confirmed a fully working exploit in a local regtest environment, and that running the same exploit on mainnet would have generated unlimited, undetectable real ZEC. The exposure window ran from Orchard’s mainnet activation in May 2022 through June 1, 2026, for approximately 4 years. Affected software included all halo2_gadgets versions before v0.5.0, orchard before v0.14.0, and zcashd versions v5.0.0 through v6.12.3. Straight from Zooko "We want to emphasize that we believe prior exploitation of the Orchard vulnerability is unlikely. But users should not have to trust our assessment, or anyone else’s, when it comes to the integrity of the Zcash supply." MUCH MUCH LOWER https://t.co/tlTRSWY1cH — Roger (@degendeez) June 6, 2026 Shielded Labs and developers responded rapidly, pushing Zebra 4.5.3 as an emergency soft fork to temporarily disable Orchard transactions, then activating the NU6.2 hard fork via Zebra 5.0 at block 3,364,600 on June 2 at 12:05 PM UTC+8. The circuit is now corrected. Here is the part that matters for holders: the patch closes the vulnerability going forward, but cannot retroactively prove supply integrity was maintained during those four years. That window is permanently opaque. Ripple Schwartz’s Reassurance: What It Means and What It Cannot Prove The discussion surfaced after crypto commentator Nate, known on X as @satorinakamoto, challenged whether Zcash could prove the vulnerability had never been triggered, given the network’s opacity. Schwartz, co-creator of the XRP Ledger and one of the more technically credible voices in the industry, responded directly: ‘They’ll eventually be a bit lonely in the deprecated pool, but they’ll still be safe and accessible.’ His broader point: consensus rules protect every ZEC owner, and protocol designers can define backward compatibility so passive holders retain valid, spendable coins even as the Orchard pool becomes a legacy layer. If there was no exploit, everyone is safe whether they move their coins or not. They'll eventually be a bit lonely in the deprecated pool, but they'll still be safe and accessible. — David 'JoelKatz' Schwartz (@JoelKatz) June 7, 2026 The stated reassurance is that holders will not forfeit assets. That is true conditionally; if no exploit occurred, unmoved funds in older pools remain intact. The condition itself, however, is the entire problem. Shielded Labs stated explicitly in its disclosure: ‘There is no definitive way to determine, using only cryptography, whether such exploitation occurred.’ Schwartz’s credentials lend his statement genuine weight. What they cannot lend it is certainty about a four-year window inside a privacy coin’s most opaque layer. This is not a dismissal of Schwartz’s view. His framing, that passive holders are safe absent confirmed exploitation, is technically coherent. The actual framing is that ‘absent confirmed exploitation’ is not a condition anyone can verify, including Zcash’s own developers. Both statements can be simultaneously true. The market is pricing the gap between them. Discover: The Best Token Presales The post Ripple CTO Says Zcash Holders Are Safe, But the Bug That Could Have Created Fake ZEC for 4 Years Cannot Be Disproven appeared first on Cryptonews .
8 Jun 2026, 11:17
Solana rebounds above $65, but bearish signals still dominate
Bitcoin and the broader cryptocurrency market are having a relief rally following last week’s massive dump. Bitcoin has slightly recovered and is now trading above $63,000. Meanwhile, Solana’s SOL has climbed above $65 after shedding nearly 20% over the past week. However, Solana continues to trade under pressure amid weakening institutional inflows, deteriorating derivatives positioning, and persistent technical weakness across key indicators. Spot ETF outflows break four-week inflow streak SOL underperformed last week thanks to declining institutional demand. Spot Solana ETF products recorded a net outflow of approximately $6.52 million last week. This marks a sharp reversal from a four-week streak of positive inflows that began in early May, signaling a potential shift in institutional positioning. Analysts warn that if outflows continue or accelerate, Solana could face additional downside pressure in the near term. In addition to that, futures and derivatives markets are also signaling weakening confidence. According to CoinGlass , Solana’s funding rate has turned negative and deepened to its lowest level since February, currently sitting around -0.0165%. This indicates that short positions are paying longs, a setup that often reflects bearish sentiment in perpetual futures markets. Historically, sustained negative funding rates have coincided with extended corrective phases following brief relief rallies. However, Solana’s long-to-short ratio has climbed to 1.0129, suggesting that the bulls could be regaining control of the market. The mixed derivatives data suggest that there is indecision among Solana traders after the coin bounced back from the Saturday low of $59. Solana price forecast: Technical outlook remains fragile Similar to the other leading cryptocurrencies, the SOL/USD 4-hour chart is extremely bearish following last week’s massive decline. At press time, Solana is trading at $66, below the 50-day EMA at $81.50, 100-day EMA at $87.90, and the 200-day EMA at $104.00. This suggests that the bearish trend remains in place. Momentum signals also remain weak. However, they are showing signs of recovery on the 4-hour timeframe. The MACD continues to trend in negative territory, while the Relative Strength Index (RSI) sits near 47, indicating that Solana is now approaching the neutral zone. The oversold conditions last week were followed by short-term rebounds, which could point to reversal signals on the lower timeframes. If the bearish trend persists this week, the sellers would encounter immediate support at $60, a critical psychological and structural level. A break below this zone could open the door toward $50, deepening the broader downtrend. However, if the recovery continues, the bulls could face the first major resistance around the 50-day EMA at $81.50. A daily candle close above this level could pave the way for Solana to retest higher resistance zones at $87.90 and $104. The current market conditions suggest a relief bounce. However, the broader market structure remains weak. Continued ETF outflows and negative derivatives positioning indicate that sellers still maintain control unless Solana can reclaim key resistance levels in the coming sessions. The post Solana rebounds above $65, but bearish signals still dominate appeared first on Invezz
8 Jun 2026, 11:10
Bernstein: Bitcoin’s Store-of-Value Case Unshaken by $2.6 Billion ETF Outflow
BitcoinWorld Bernstein: Bitcoin’s Store-of-Value Case Unshaken by $2.6 Billion ETF Outflow Despite a significant $2.6 billion in net outflows from spot Bitcoin exchange-traded funds (ETFs) this year, Bernstein analysts argue that Bitcoin’s long-term appeal as a store-of-value asset remains intact. The assessment, detailed in a recent report by analyst Gautam Chhugani, comes as the broader market shifts its attention toward the artificial intelligence investment boom. Market Context and the AI Factor Chhugani’s analysis, reported by The Block, frames the current market dynamics in a unique light. He suggests that the relatively modest $2.6 billion in ETF outflows since the start of the year should be viewed as a positive indicator, given the intense capital rotation into AI-related equities. The analyst contends that the lack of overwhelming attention on Bitcoin during this cycle does not weaken its fundamental investment thesis. Why This Matters for Investors The Bernstein report provides a counter-narrative to bearish sentiment that often accompanies large-scale ETF withdrawals. The key takeaway is that Bitcoin’s core value proposition—as a decentralized, non-sovereign store of value—is not contingent on short-term capital flows or market hype. The outflows, while notable in absolute terms, represent a small fraction of the total assets under management in these funds, suggesting a resilient base of long-term holders. Implications for the Crypto Market This perspective is particularly relevant for institutional investors who are weighing Bitcoin’s role in a diversified portfolio. By drawing a distinction between temporary capital rotation and structural asset quality, Bernstein reinforces the argument that Bitcoin’s adoption cycle is maturing beyond speculative trading. The report implicitly warns against conflating market noise with fundamental value erosion. Conclusion Bernstein’s analysis offers a measured, data-driven perspective on Bitcoin’s resilience. The $2.6 billion in ETF outflows, while significant, is contextualized within a broader market shift toward AI investment. The report ultimately reinforces the view that Bitcoin’s store-of-value narrative remains intact, supported by a growing base of long-term institutional conviction rather than short-term speculative flows. FAQs Q1: Why does Bernstein consider $2.6 billion in ETF outflows a positive sign? A1: Bernstein argues that the outflows are relatively modest given the massive capital rotation into AI investments. The fact that Bitcoin has not seen a more dramatic sell-off during this period is seen as evidence of strong underlying holder conviction. Q2: Does this report change the outlook for spot Bitcoin ETFs? A2: The report does not directly address ETF viability but suggests that the products are functioning as intended, providing a regulated vehicle for both entry and exit. The outflows are viewed as part of normal market rotation rather than a structural flaw. Q3: How does the AI investment craze affect Bitcoin’s price? A3: The report indicates that capital flowing into AI sectors can temporarily divert attention and liquidity away from crypto markets. However, Bernstein believes this does not alter Bitcoin’s long-term store-of-value thesis, as the two asset classes serve different investment purposes. This post Bernstein: Bitcoin’s Store-of-Value Case Unshaken by $2.6 Billion ETF Outflow first appeared on BitcoinWorld .
8 Jun 2026, 11:09
Bitcoin Holds $63K on Saylor Buy Signal as Bernstein Defends Thesis, Futures OI Sheds 185K BTC
Bitcoin News Bitcoin defended the $63,000 level on Monday, extending a roughly 4% Sunday rally that traders attributed to Strategy Executive Chairman Michael Saylor signaling further accumulation o...
8 Jun 2026, 11:05
Elon Musk Accepts Dogecoin for SpaceX Payments as DOGE Stalls Ahead of Historic IPO
Dogecoin is back in the headlines, but the chart is refusing to cooperate. SpaceX has confirmed that it accepted DOGE as payment for the DOGE- 1 lunar mission, delivering another Elon Musk narrative that has historically sparked double-digit moves. This time, price action at the $0.080–$0.085 range shows that retails are hesitating. Geometric Energy Corporation announced the DOGE-funded mission on Sunday, with SpaceX confirming it accepted Dogecoin as the full payment mechanism for the satellite launch. “SpaceX launching satellite Doge-1 to the moon next year — Mission paid for in Doge — 1st crypto in space, 1st meme in space,” Musk posted on Twitter years ago. SpaceX launching satellite Doge-1 to the moon next year – Mission paid for in Doge – 1st crypto in space – 1st meme in space To the mooooonnn!! https://t.co/xXfjGZVeUW — Elon Musk (@elonmusk) May 9, 2021 SpaceX VP of Commercial Sales Tom Ochinero framed the mission as setting “the foundation for interplanetary commerce,” per Geometric Energy’s statement. The financial value of the contract was not disclosed. DOGE previously shed more than a third of its value after Musk called it a “hustle” during his Saturday Night Live appearance, and with a SpaceX IPO increasingly discussed as a market-moving event , sentiment around anything Musk-adjacent is running hot but volatile. Discover: The Best Crypto to Diversify Your Portfolio Can Dogecoin Price Recover From $0.078 or Is a Deeper Pullback Coming? Historical price data places DOGE in a tight corridor between $0.080 and $0.085, where selling pressure emerged following Musk’s payment confirmation remarks. That’s a 5-6% band that has repeatedly defined near-term direction. Neither level is holding with conviction right now. Prior Elon Musk-driven spikes, Dogecoin showed immediate surges of 2%, but those moves reversed sharply once the initial wave of retail buying exhausted itself. Momentum indicators across that cycle pointed to classic pump-and-fade behavior. Dogecoin (DOGE) 24h 7d 30d 1y All time Three scenarios are on the table. First, DOGE holds $0.078 as support, SpaceX IPO speculation, and fresh Musk commentary drive a push toward $0.10+, with the DOGE-1 launch timeline acting as a recurring narrative catalyst. The second scenario would likely see Dogecoin price consolidating in the $0.080–$0.085 range for several sessions, grinding sideways as broader crypto market conditions dictate direction more than meme-specific news. However, a break below $0.078 opens the door to sharper downside as the SNL-driven collapse demonstrated DOGE can lose over 33% in a single session when sentiment flips. Musk’s influence on crypto price action cuts both ways, and traders leaning long on DOGE are, effectively, leaning long on one man’s Twitter feed. Discover: The Best Token Presales Maxi Doge Targets Early-Mover Upside as Dogecoin Tests Key Levels DOGE’s ceiling problem is structural. At its current market cap, a move to previous all-time highs requires billions in fresh capital, and the meme cycle that fueled 2021’s run looks harder to replicate. That’s the gap where early-stage meme tokens with distinct identities tend to attract rotation capital. Maxi Doge ($MAXI) is making a direct play at that opportunity. Built on Ethereum (ERC-20), it positions itself as the “240-lb canine juggernaut” of the meme token space, embodying 1000x leverage trading energy with actual community mechanics behind it. https://twitter.com/MaxiDoge_/status/1950215766105559470?s=20 The presale has raised more than $4.7 million at a current price of $0.0002823 , with dynamic APY staking already live for holders. Standout features include holder-only trading competitions with leaderboard rewards and a Maxi Fund treasury dedicated to liquidity and partnerships. Research Maxi Doge ahead of the next presale stage. The post Elon Musk Accepts Dogecoin for SpaceX Payments as DOGE Stalls Ahead of Historic IPO appeared first on Cryptonews .
8 Jun 2026, 11:03
Bullish reports May trading volume of $33B; Ethereum volatility falls to 36%
More on Bullish Bullish (BLSH) Q1 2026 Earnings Call Transcript Bullish (BLSH) Bullish, - M&A Call - Slideshow Bullish: Offensive Crypto Growth Play (Rating Upgrade) CleanSpark draws highest short interest among mid, large, and mega-cap peers 5 of 7 proxy stocks trail BTC's 12% fall: Investors piled into these 6 miner stocks
