EdgeX Publishes Post-EDGE Flash Crash Report: Team Did Not Partake in Dump, Will Distribute Goodwill Compensation
On June 3rd, edgeX released a post-incident report on the unusual price fluctuation of its EDGE token, tracing the flash crash to an attacker exploiting a low-liquidity trading window. The attack leveraged PancakeSwap’s thin on-chain liquidity of roughly $1.25 million, triggered high leverage in perpetual contracts, and sparked a cascading reaction across centralized exchanges (CEXs).
During a one-minute window at 5:12 AM that same day, 174 addresses dumped approximately 159,000 EDGE tokens—with sell volume spiking about 10 times compared to prior minutes. This surge led to the liquidation of 68.2% of all long positions in edgeX’s perpetual contracts. Panic quickly spread to CEX spot markets, where trading volumes jumped to 7–10 times their usual daily levels, hitting around $70 million over two hours.
The edgeX team confirmed its token allocation remains untouched and fully transparent on-chain, and has received preliminary analysis support from multiple CEXs.
In follow-up actions,
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Binance Wallet: The market is expected to undergo a system upgrade tomorrow, with an estimated duration of 1 hour
June 3rd Update: Binance Wallet announces a scheduled maintenance upgrade will take place on June 4th from 15:00 to 16:00 (UTC+8). During this window, Predict Market services will be temporarily unavailable—user assets and open positions will remain entirely unaffected throughout the period.
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Coinbase Adds ETH and SOL Rupee Trading Pairs for Indian Users
June 3rd – Per official sources, Coinbase has added support for the ETH-INR and SOL-INR trading pairs for its Indian users. These trading pairs will initially be available on Coinbase Exchange, and are set to gradually expand to Coinbase’s main platform, the Coinbase App, and Coinbase Advanced.
Note: INR stands for the Indian Rupee.
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A certain whale bought 401 BTC today, worth approximately $26.86 million
June 3: On-chain analytics firm LookOnChain’s monitoring shows a cryptocurrency whale that previously suffered a swing trading loss of over $2.5 million on Bitcoin (BTC) has re-entered the market. The whale bought 401 BTC today at an average price of $66,957, totaling roughly $26.86 million.
In prior trading activity, this same whale purchased 81 BTC on January 16 at $95,423, which was valued at around $7.73 million at the time. They then sold these BTC holdings on February 23 at $64,243, incurring an approximate $2.5 million loss from that transaction.
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「Stock God」 Serenity Points Out Three Giants in the European Silicon Photonics Value Chain, EU Chip Act 2.0 Long-term Bullish for Photonics Track
June 3rd: Self-proclaimed "Stock God" Serenity published an article analyzing the EU’s proposed Chip Act 2.0, arguing the legislation will deliver thematic benefits to the EU’s photonics industry. The new proposal formally frames photonics as a structural addition to EU policy, with explicit provisions supporting the development of photonic integrated circuits (PICs), building and strengthening advanced design, prototyping, and industrial deployment capabilities for PICs, and expanding the EU’s photonics design footprint—marking photonics’ official integration into the bloc’s semiconductor strategy framework.
Key policy priorities tied to photonics include: 1) Co-packaged optics and interconnect technology for AI data centers (benefiting SIVE); 2) Silicon photonics for high-bandwidth data center links; 3) PIC manufacturing technologies such as co-packaging and heterogeneous integration (directly benefiting XFAB). Serenity also noted that leading European SOI wafer firms Soitec and Sil
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Fed's Williams Voices Support for Maintaining Interest Rates, Expectation of Rate Hike Later This Year Continues to Rise
June 3 — Federal Reserve policymaker John Williams voiced support for keeping interest rates steady in a recent speech, stating current monetary policy is “just right” and there’s no immediate need to raise or lower borrowing costs. Williams added the Fed will closely monitor developments tied to tariff actions, noting upside risks to inflation have grown. He also emphasized there’s no clear path forward for future rate moves, and he views the Fed’s forward guidance as not particularly useful at this stage.
Per data from the CME FedWatch Tool, the market has largely erased earlier bets on a 2024 rate cut, while expectations for a rate hike have climbed—including a small, slim possibility of a 75-basis-point increase. Looking at the 2026 outlook: the probability of rates holding steady all year is 40.9%; a cumulative 25-basis-point rate cut in 2026 is just 0.7%; a cumulative 25-basis-point rate hike is 41.6%; a 50-basis-point total rate hike is pegged at 14.6%; and a 75-basis-point cum
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