Crypto-Traditional Convergence Amid Outflows (2026-06-01)

You Can Now Trade 8,000 US Stocks on Binance Using Your Stablecoins

Binance opened access to more than 8,000 US stocks and exchange-traded funds for its non-US customers on Monday. The world’s largest crypto exchange framed the launch as a step toward becoming a multi-asset financial super app. The move places Binance alongside rivals racing to merge crypto rails with traditional equity markets. Customers can buy fractional shares starting at $5, with zero commission, using stablecoins or the exchange’s own token.

The launch reflects a wider convergence between crypto platforms and traditional finance. Exchanges that once focused on tokens now want a slice of the equities business. Co-CEO Richard Teng told Fortune that US stocks make up well over half of global equities. Yet many overseas buyers face high costs and friction when they try to access them.

Binance is not alone in this shift. Earlier, OKX moved to enter traditional finance through tokenized stocks, while Coinbase added stock trading in its everything exchange bid. Wall Street is meeting crypto halfway. Asset manager BlackRock has issued Treasury bills as blockchain wrappers, blurring the line between the two markets.

Share purchases on Binance will be arranged by a broker-dealer called Nest Trading. A New York firm, Alpaca, will handle custody, dividend payments, and corporate actions. Customers can pay using the stablecoins USDC or USDT. They can also use a handful of other tokens, including Binance’s own BNB.

The push is not the exchange’s first step beyond crypto. Binance already offers derivatives tied to gold, petrochemicals, and pre-IPO share trading. However, its record here is mixed. Binance halted stock tokens in 2021 after regulators questioned whether the products were unregistered securities.

Binance also outlined a plan for bStocks, which will let users tokenize the equities they buy. Customers can convert shares into digital tokens on BNB Chain in the coming weeks. The design stands out because users can start the tokenization themselves. Rivals such as Kraken and Robinhood have launched similar products, with Kraken tokenizing US tech stocks for overseas markets.

Supporters point to speed. Blockchain-based trades can settle almost instantly, against the days or more that Wall Street intermediaries need. In a statement, Binance described the aim of the new product. Not everyone is sold. Some critics warn that tokenized stocks could add risk to the US equity market, even as the New York Stock Exchange and Nasdaq have announced tokenization plans. Whether self-service tokenization draws real equity volume on-chain may become clearer in the weeks ahead as bStocks goes live.

Bybit has launched the fifth round of the Trading Card Challenge event.

Bybit’s latest fifth round of the Card Collection Challenge runs from now until June 7, 2026. Meanwhile, the total prize pool for the event has exceeded 169,000 USDT, with a Royal Flush reward of 91,000 USDT.

Existing users can unlock card eligibility by completing 10,000 USDT in contract transactions. New contract users only need to complete 100 USDT in contract transactions to participate.

The Flop will be revealed tomorrow at 8 AM, and users can exchange cards daily during the event.

[Foresight News]

Binance: Securities Lending (FPSL) Service to Launch on June 4

Binance officially announced on social media that its Fully Paid Securities Lending (FPSL) service will officially launch on June 4, 2026. This service allows users to lend their qualified, fully paid securities assets to market participants and earn additional returns through lending.

It is reported that FPSL is a common securities lending mechanism in traditional financial markets, typically facilitated by brokers or custodians, who lend out investors’ idle, held securities to institutions requiring them for short selling, arbitrage, or market making.

[Foresight News]

Gnosis Pay’s delayed module was hacked, and the project team promised to fully cover user losses.

On June 1st, Gnosis co-founder and CEO Martin Koppelmann confirmed that the Zodiac delay module associated with Gnosis Pay is under attack. Attackers can initiate transactions from Safe wallets that integrate the module. Gnosis has requested cross-chain bridge validators to suspend operations to control the risk.

Koppelmann stated that Gnosis will bear all user losses and has removed the previous announcement requiring users to urgently withdraw EURe and GNO, stating that most users cannot withdraw coins themselves. The team is working to control most of the losses and ensure that all users receive full compensation.

[PANews]

Bitcoin ETPs face worst 2026 outflow as $1.67B leaves crypto funds: CoinShares

Crypto investment products recorded $1.67 billion in outflows last week, extending their losing streak to three weeks as Bitcoin funds saw their largest exit of 2026. Digital asset exchange-traded products posted their second-largest weekly withdrawal of 2026. The latest pullback took three-week outflows to $4.21 billion, and total assets under management fell to $141 billion, the lowest level since early April.

The data shows weaker demand from institutional investors after several weeks of pressure across crypto markets. “The pattern is reminiscent of the January-February episode that delivered five consecutive negative weeks,” CoinShares head of research James Butterfill said. Butterfill linked the selling to an Iran-related risk-off move that outweighed any support from progress around the CLARITY Act.

The report said the pullback remained concentrated in major crypto investment products. Bitcoin ETPs recorded $1.44 billion in outflows, the largest weekly Bitcoin withdrawal so far in 2026. Bitcoin products were down $2.4 billion month-to-date, though the asset still had about $1.2 billion in year-to-date inflows. Bitcoin fund assets under management fell to $114.6 billion after the latest withdrawals.

Ether products also stayed under pressure, as ETH funds lost $257.3 million during the week, taking year-to-date outflows to $346 million. Altcoin demand narrowed sharply, with only five assets posting inflows above $1 million, down from nine assets a week earlier.

The United States accounted for most of the selling, with $1.63 billion in outflows, matching heavy withdrawals from U.S.-listed spot Bitcoin ETFs. Germany recorded $25.7 million in outflows, while Sweden and Hong Kong also saw withdrawals. The Netherlands was the only market with inflows above $1 million.

XRP led the few positive assets with $20.3 million in inflows. Hyperliquid followed with $10.8 million, while Near added $7.6 million, showing that some investors still targeted selected altcoin products. However, the broader market remained tilted toward exits.

As previously reported by crypto.news, crypto ETFs saw strong inflows in April, with Bitcoin, Ethereum, and XRP products attracting fresh capital. That earlier rebound has now weakened. Separate earlier coverage also showed crypto investment products drawing more than $1 billion in weekly inflows in March, when Bitcoin and Ethereum led demand. The latest data marks a clear change from that earlier buying.

Bitcoin now accounts for most of the pressure, while Ether funds and several regional markets also remain weak. The next weekly fund flow report will show whether the outflow streak extends toward the five-week pattern seen earlier this year or whether demand returns after the latest sell-off.

[CoinShares]

Binance US stock business’s underlying entity revealed: Nest Trading is actually a Binance affiliate

On June 1, according to the public register of the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority, Nest Trading Limited—the introducing broker responsible for Binance’s U.S. equities trading service—is a Binance-affiliated entity, and its official website URL listed in the registry points directly to Binance. The company completed its registration with ADGM on January 5, 2026—approximately five months after Binance launched its U.S. equities trading service.

Nest Trading holds an ADGM financial license, with business activities covering investment arrangement, investment agency and proprietary trading, asset management, money services, and custody arrangements.

However, per regulatory requirements, the company is prohibited from holding or controlling client funds and assets; execution, clearing, and custody of user assets are handled by the U.S. broker-dealer Alpaca Securities, and its money services are restricted solely to regulator-approved stablecoins.

[PANews]

The Gate Live US stock investment weekly official live broadcast will be held tonight.

According to the official announcement, Gate Live will hold the first theme live broadcast of “US Stock Investment Week” on June 1st at 20:00 (UTC+8). At that time, guests such as 独领风骚必暴富, 甲乙饼, and 币大师稳健持币 will share content on US stock market hotspots, USDT US stock trading experience, and global asset allocation opportunities. An interactive lottery will also be launched during the live broadcast, and participating users will have the opportunity to receive US stock airdrop rewards.

It is reported that Gate Stocks has officially launched a stock asset trading service, and users can directly use USDT to trade more than 10,000 mainstream US market stocks and ETFs, covering NYSE, Nasdaq, NYSE Arca, NYSE American, BATS and other mainstream US securities trading markets and liquidity networks, providing users with a more comprehensive global securities asset allocation choice, and further opening up crypto assets and traditional financial markets.

Relying on a unified account system, users can realize the convenient allocation of digital assets and global securities assets within the same platform, and enjoy a richer and more diversified one-stop cross-market investment experience.

[Odaily]

IREN Secures $3.65 Billion GPU Financing Supported by Microsoft AI Contract

IREN Limited announces closing of $3.65B investment grade GPU financing to fulfill AI Cloud contract with Microsoft.

The financing includes $2.1B US Private Placement (fixed rate approximately SOFR+2.13%) and $1.55B DDTL loan (floating rate SOFR+2.25%), with an overall weighted average cost of debt of 6.00%.

[PANews]

SpaceX: Up to 5% of IPO Class A shares reserved for directed grants to certain individuals

SpaceX stated that up to 5% of the IPO’s Class A shares have been reserved for specific individuals, and Elon Musk has agreed to a 366-day share lock-up period.

[Odaily]

Binance Officially Announces US Stock Trading Portal Website

Binance officially launched its U.S. stock trading portal on the social media platform X.

[ChainCatcher]

Chinese Executive Killed in Cambodia After Family Couldn’t Pay $2 Million Crypto Ransom

A Chinese real estate executive was killed in Cambodia after his family failed to pay a $2 million crypto ransom. Cambodian police say he was abducted and tortured by three captors before being murdered. Kidnappers seized Yang Weixin, 53, from his Phnom Penh apartment building on May 29. His body was discovered roughly 14 hours later in an abandoned car near a Dangkao district dump.

Three men forced Yang into a vehicle at about 8 p.m., according to security footage cited by Singapore-based Mothership. At roughly 3 a.m. on May 30, the kidnappers used Yang’s phone to demand the $2 million crypto payment. The wife told police she could not raise the funds. A final message arrived shortly before 9 a.m., after which the captors went silent.

A truck driver later discovered Yang’s bloodstained Toyota Prius in Ba Ko village, Dangkao district. The vehicle was unlocked and contained cable ties used to bind the victim. Cambodian police have classified the case as premeditated kidnapping for ransom that resulted in murder.

The attack fits a violent year for holders of digital assets. Investigators are pursuing a possible link to a 2014 business dispute between Yang and another Chinese national.

Security firm CertiK tracked 34 verified physical coercion incidents in the first four months of 2026, a 41% jump on the same period a year earlier. Researchers expect further escalation through 2026 as social-media profiling helps criminals identify visible holders. Other recent cases include the kidnapping of Russian entrepreneurs in Buenos Aires and a Hong Kong trader kidnapping involving torture and the forced surrender of exchange credentials.

Cambodia has separately become a hub for crypto-linked organized crime. The Huione Group network and Prince Holding compounds have drawn US sanctions in recent months. The three suspects in Yang’s abduction remain at large, and police have not released images or descriptions, and no public on-chain trace of the ransom wallet has surfaced. The case is the latest to highlight how visible crypto wealth can attract violent attention in regions with weak enforcement.

Bitcoin mining company IREN completes $3.65 billion investment-grade GPU financing

Bitcoin mining company IREN announced the completion of a $3.65 billion investment-grade GPU financing to support its AI cloud contract with Microsoft.

The financing comprises $2.1 billion in U.S. private placement debt and $1.55 billion in a delayed-draw term loan, with an aggregate debt cost of 6%.

According to reports, this financing received ratings of ‘A’ from Fitch and ‘A (low)’ from DBRS, making it the highest-rated publicly disclosed investment-grade GPU financing to date—and the first GPU financing in the U.S. private placement market.

IREN stated that the financing is secured by GPU assets and related contract cash flows, helping optimize its capital structure and supporting the company’s expansion of AI Cloud capacity to 480 MW by the end of 2026.

[ChainCatcher]