Zcash halves in value after AI‑found flaw as Bitcoin nears $66,000

Privacy‑focused blockchain Zcash (ZEC) lost almost 50% of its market value after its core development team disclosed a critical vulnerability in the Orchard cryptographic system on June 4. The flaw, which could theoretically allow unlimited minting of ZEC, had gone undetected for more than four years and was identified by security researcher Taylor Hornby using Anthropic's Claude Opus 4 AI model. No exploit occurred, but the public announcement alone spooked investors.

In parallel, US OTC‑listed company Cycclone (OTCID CYCL) announced an agreement in principle on June 13 to acquire a California‑based AI‑robotics firm. The deal creates a new Cycclone AI Robotics division, expands manufacturing from Europe to new facilities planned in Australia and the United States, and includes a space‑division that can supply emerging private‑space programs. The acquisition is being funded with the help of Eurasian Capital, though analysts note that a permanent‑magnet engine technology touted by Cycclone remains unproven.

Danish biotech firm Ascendis Pharma released long‑term Phase 3 data for its hypoparathyroidism treatment TransCon PTH (Yorvipath). In the 182‑week PaTHway trial, 82 adults were enrolled, 89% completed the study, 86% met the primary response criteria without active vitamin D, and no new safety signals emerged. The drug is already approved in the US and EU.

Bitcoin rose toward the $66 000 level after the United States and Iran signed the so‑called Islamabad declaration, ending more than 100 days of conflict and lifting the naval blockade of the Strait of Hormuz. The reopening cut crude prices by over $12 a barrel, softened inflation expectations and prompted around $246 million of crypto short positions to be liquidated. Shortly thereafter, President Trump’s crypto venture World Liberty Financial paid $250 000 in USD‑1 stablecoin bonuses to UFC fighters at the White House, a move that has attracted congressional scrutiny.