According to U.Today, a technical issue at the New York Stock Exchange on June 3 caused the A-class shares of Warren Buffet's Berkshire Hathaway to appear to have fallen by almost 100%. This led to trading halts in Berkshire Hathaway shares, as well as Barrick Gold and Nuscale Power. The glitch was quickly fixed and trading resumed the same day. The incident was noted by the crypto community, with many reminding Warren Buffett of his criticism of Bitcoin, which he called a 'gambling asset' with zero value. Edward Snowden, the whistleblower and privacy rights advocate, commented on the incident with the line 'Bitcoin fixes this', implying that he sees Bitcoin as a solution to such technical vulnerabilities.
In other news, Monochrome Asset Management's spot Bitcoin ETF (IBTC) went live on the Cboe Australia exchange, becoming Australia's first and only ETF holding Bitcoin directly. The new spot Bitcoin ETF is expected to generate inflows of about $1 billion. The Monochrome spot Bitcoin ETF offers global investors direct in-kind creation or redemption, allowing them to directly exchange their BTC for IBTC and vice versa. Monochrome also partnered with lending providers in Australia to allow sophisticated investors to borrow money against their ETF holdings, using IBTC as collateral.
Finally, data from the Shibburn website shows that on June 3, 21,435,658 SHIB tokens were transferred to dead-end wallets, pushing the Shiba Inu burn rate up by 10,990%. This represents a more than 30x increase from the 348% SHIB burn rate surge observed on Monday. SHIB Discord admin DaVinci issued a warning to the SHIB community against investing in new projects on the ShibaSwap DEX, even if they claim to be associated with or backed by the SHIB development team. He also warned of scam offers to invest in the TREAT token, which has not been launched yet.