Happy Thursday!

Arthur Hayes predicts Bitcoin could hit $1 million by 2028. Here’s how he thinks it will happen.

Coinbase has been hit by a data breach and is facing a ransom (but refuses to pay the attackers). Here’s all you need to know about the attack.

Plus, don’t miss Benzinga’s must-attend virtual forum on the rapidly evolving ETF market! Join us on June 5th at 10 am ET to explore the latest trends in crypto ETFs, thematic ETFs and innovative structures. Gain valuable insights into strategies reshaping how financial advisors guide clients and how retail investors adjust their portfolios.

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TOP STORY

Arthur Hayes Predicts Bitcoin To Hit $1 Million By 2028

Arthur Hayes, Maelstrom's Chief Investment Officer and co-founder of BitMEX, said on Thursday that foreign capital repatriation and the devaluation of U.S. Treasury bonds will be the twin forces driving Bitcoin to $1 million within the next presidential cycle.

“Foreign capital repatriation and the devaluation of the gargantuan stock of U.S. treasuries will be the two catalysts that will power Bitcoin to $1 million sometime between now and 2028,” Hayes wrote in his latest essay.

How is that going to work?

Read the full scoop here.

SPECIAL OFFER

Don’t miss Benzinga’s must-attend virtual forum on the rapidly evolving ETF market! Join us on June 5th at 10 am ET to explore the latest trends in crypto ETFs, thematic ETFs and innovative structures. Gain valuable insights into strategies reshaping how financial advisors guide clients and how retail investors adjust their portfolios.

Click here to reserve your spot today!

QUICK N DIRTY

World Liberty Financial, the Trump-linked DeFi project, has invested in several cryptocurrencies — but be careful if you want to copytrade it.

Pepe has rallied over 40% over the past week and clearly outpaced its rivals Dogecoin and Shiba Inu — what’s next?

Ethereum’s surge could kick off a true altcoin bull market, according to experts — but when will it start?

FINTECH FOCUS

Coinbase Hit By Data Breach, Refuses To Pay $20M Ransom

Coinbase on Thursday disclosed a material cybersecurity incident involving insider abuse and data theft, leading to a $20 million Bitcoin ransom demand from a threat actor.

The company has refused to pay, instead placing a $20 million bounty for information leading to the arrest and conviction of the perpetrators.

What exactly happened to Coinbase?

Read the full scoop here.

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