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Golden Ten Data reported on June 4 that authorities across Asia are stepping up their defense of local currencies due to pressures from high energy costs and expectations that the Federal Reserve will raise interest rates. On Thursday, South Korea vowed to curb excessive volatility after the won fell to its lowest level against the US dollar since 2009. The Indonesian central bank also stated it is intensifying interventions to stabilize the rupiah, which has dropped to a record low. According to sources, the Bank of Japan is prepared to consider a 25-basis-point rate hike this month. In India, as the rupee hovers near a historic low, the government plans to attract capital inflows by reducing taxes and removing certain bond holding limits. Wee Khoon Chong, Senior Market Strategist for Asia-Pacific at BNY Mellon, said that the tough and fast-changing market conditions mean that central banks and authorities across the region are on high alert, with a strong US dollar, high oil prices, and outflows of foreign capital putting pressure on Asian currencies.

Foresight News reports that DeFi risk management protocol Gauntlet and on-chain yield protocol Resolv have reached a compensation agreement regarding the USR vulnerability. Gauntlet vault users affected by the incident can claim a total of 4,379,827 USDC in recovery funds through Merkl. Among these, the v1 Morpho vault Gauntlet USDC Core on the mainnet and the illiquid v1.1 vaults (Resolv USDC on mainnet and Extrafi XLend USDC on Base) are now open for claims. For the v1.1 vaults that still have liquidity (Gauntlet USDC Frontier on mainnet and Seamless USDC on Base), claims can only be made after the vaults become illiquid. Snapshots for claims were taken when the markets were removed (v1) and when liquidity was exhausted (v1.1), respectively.

CryptoQuant founder and CEO Ki Young Ju stated on the X platform that the selling by early Bitcoin OGs and veteran miners is a process of shifting holdings to US traditional financial institutions and ETFs. He believes that traditional financial institutional investors could bring a stronger demand base. Although the cypherpunk values may be diluted, Bitcoin still has future upward cycles and is worth continued patience.