Bitcoin has taken another dive overnight to trade almost 5% lower over the last 24-hours around US$27,000 as investors sell-out of risk assets in response to US inflation data for May showing the annual rate of inflation in the US rose 8.6% for the ninth, hitting a fresh 40-year high.

PayPal has moved to allow customers to transfer crypto out of PayPal?s cryptocurrency wallet to external wallets in a step away from the fiat-orientated world and toward a digital currency world. The move allows customers to instantaneously take their crypto holdings and translate it to fiat to be used at any of PayPal?s 35 million merchant accounts.

And Ukraine is turning to NFTs to preserve the country?s art and history as Russia continues to bomb and destroy museums, architectural marvels and other historical sites. To preserve the DNA of Ukraine, the country has launched a new project using NFTs to protect the country's heritage.