Good Morning, Asia. Here's what's making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto…

A late-night Twitter spat between President Donald Trump and Elon Musk sparked fresh uncertainty in global markets, sending major cryptocurrencies tumbling and wiping out nearly $1 billion in leveraged bets.

Bitcoin

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Key Takeaways:

Bitcoin slumped more than 2% in the past 24 hours to dip below the $101,000 level before partial recovery.

Nearly $1 billion worth of crypto long positions were liquidated, affecting more than 220,000 traders across the world.

Market mood…

The fraud prevention firm ThreatFabric says an alarming new banking malware is evolving to more effectively avoid detection and steal personal data.

Security researchers at ThreatFabric say Crocodilus, a new and sophisticated strain of malware that targets…

Bitcoin (BTC) could fall to levels last recorded in early May if a major support level fails to hold, according to a crypto trader.

The trader pseudonymously known as DonAlt tells 66,500 subscribers of the TechnicalRoundup YouTube channel he’s leaning bearish…

By Omkar Godbole (All times ET unless indicated otherwise)

Bitcoin (BTC) and the wider cryptocurrency market recovered from overnight lows, with monero (XMR), XRP and SUI leading the bounce ahead of the pivotal U.S. nonfarm payrolls report, which is expected…

The chief economist at banking giant Wells Fargo, Jay Bryson, is warning that America is awfully close to entering an economic recession.

In a new interview on CNBC’s Squawk Box, Bryson says he’s not forecasting a recession at this time, but it wouldn’t…

U.S. labor market growth continued to modestly slow in May, but not enough to force a rise in the unemployment rate.

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Solaxy once again became a top story in the crypto world. Not only is this project smashing all presale records, but it has also attracted whale attention. Yesterday, a whale purchased $49,626 worth of Solaxy, the second big whale purchase in less than a…

Bitcoin is the most valuable and highest-traded cryptocurrency on the market. It began its journey over 15 years ago, at a time when nobody could predict the massive adoption and utilization we know today. Of course, Bitcoin’s enormous growth has put a strain…

A red wave has swept across the crypto market after bull investors liquidated over $620 million worth of assets over the last 24 hours. This move comes amidst the rising tensions between the US and China in their ongoing trade war.

Despite this development…

The US trade deficit plummeted by $76.7 billion in April following the rollout of the Trump Administration’s wave of tariffs.

The total goods and services deficit was $61.6 billion in April, down from $138.3 billion in March, per a new report from the U.S.…

Apple, Airbnb, Google and Elon Musk’s X are holding early discussions with crypto companies about integrating stablecoins into their payment systems, according to people familiar with the matter who spoke with Fortune.

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Key Takeaways:

Crucial Markup Session: The U.S. House Financial Services Committee will hold a markup session to review, amend, and vote on the Digital Asset Market Clarity Act (CLARITY Act) on June 10.

Objective of Clarity: The CLARITY Act aims to establish…

U.S. Senator Cynthia Lummis (R-WY) is optimistic that the confirmation of Michelle “Miki” Bowman as Vice Chairman for Supervision of the Federal Reserve Board will transform the crypto market.

The Senate on Wednesday voted 48 to 46 in favor of Bowman assuming…

Key Takeaways:

Massive Donation: Ross Ulbricht, founder of the dark web marketplace Silk Road, received a Bitcoin donation worth approximately $31 million (equivalent to 300 BTC).

Suspicious Origins: On-chain analysis indicates the Bitcoin originated from…

A widely followed crypto analyst says that Bitcoin (BTC) is gearing up for a massive breakout after correcting to the $100,000 level.

In a new strategy session, crypto trader Michaël van de Poppe tells his 790,900 followers on the social media platform X…

The shares of the stablecoin giant Circle surged on its first day as a public company.

In a post on the social media platform X, the issuer of the second-largest dollar-pegged stablecoin USDC and the euro-pegged Euro Coin (EURC) says its shares can now be…

A decentralized finance (DeFi) platform backed by the Trump family is reportedly sending a cease and desist order to a firm over an unauthorized crypto wallet.

According to a new report by Bloomberg, World Liberty Financial (WLFI) recently sent the letter…

A widely followed crypto analyst is outlining two possible routes Bitcoin (BTC) could take after bouncing off a major support level.

In a new thread, crypto trader Justin Bennett tells his 115,700 followers on the social media platform X that it’s “crunch…