Good Morning,

It’s an especially good morning for Ross Ulbricht, founder of Silk Road. He was just pardoned from his life sentence by President Trump. Details below 👀

Here's a quick preview of today’s content: Crypto community voices concerns for Trump family involvement in creating and launching memecoins, Brian Armstrong predicts multi million-dollar Bitcoin price, Jupiter is airdropping $360M worth of tokens, China and U.S. race for largest bitcoin position, SEC creates a crypto task force, and much more.

Happy Hump Day, Pump Day. Let’s dive in.

Market Snapshot

• VTHO skyrockets 310% after being listed on South Korean crypto exchange UpBit

• Dogecoin rises to the #7 token by market cap ($55B) yesterday as Department of Government Efficiency includes the Doge logo on its website

  • DoGE is led by dogecoin “influencer” and the world’s richest person, Elon Musk 

Market Predictions

• Traders on Kalshi are currently predicting if a new country will buy Bitcoin this year

• You can trade this market by checking out Kalshi

• Get a $20 bonus when you deposit $100 or more with code “LIT” on signup

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Donald Trump keeps his promise and pardons Silk Road founder Ross Ulbricht (RT)

• SEC creates a crypto taskforce focused on industry regulation and “developing a comprehensive and clear regulatory framework for crypto assets” (CD)

• Bank of America is more than open to crypto payments if regulators permit it, see full comments here

• Crypto.com launches institutional-grade exchange services in the US (TB)

• US hit its $36T borrowing cap on Tuesday (CD)

• MicroStrategy acquires another $1.1B of Bitcoin (CD)

• KULR, maker of advanced energy-management systems. acquires another $8M of Bitcoin (CD)

• Coinbase CEO Brian Armstrong sees Bitcoin being worth ‘multiple millions’ (DC) 

• The Department of Government Efficiency’s website features the Dogecoin logo (DC)

• Trump’s $TRUMP coin is now live for trading on Coinbase (DC)

• Trump embracing memecoins make sour impression on crypto community (AP)

• Hyperliquid reports record $22B daily volume (TB) 

• Record Zero daily inflows recorded for Invesco Bitcoin ETF, BTCO (BN)

• Osprey Funds and Rex Shares file for seven ETFs focused on tokens including Trump’s memecoin (TB)

• Coinbase pledges infrastructure upgrades to speed up Solana transactions (TB)

• Blockchain investigator ZachXBT cashes out $4M from Solana memecoin (TB)

• Magic Eden upgrades terminal with zero-fee, no-code NFT launchpad (TD) 

• KLK Foundation and Mystiko Network partner for blockchain scalability

• 20% of Gen Z and Alpha prefer crypto-based pensions over traditional options (TD) 

Launches

• Jupiter will distribute $630M in JUP tokens through an airdrop (DC) 

• ImmuneFi launches a blockchain-based arbitration system for bug bounties

• InfinityPools, the DEX with no liquidation and unlimited leverage, launches on Base (BW) 

• Tezos blockchain launches improved experience through Quebec Upgrade (BN)

• Trinity College Dublin partners with Ripple to launch a blockchain research initiative (BTN) 

Venture Capital

• Wingbits, a decentralized aviation infrastructure startup, raises $5.6M in funding led by Borderless Capital and Bullish Capital (CD)

• Crypto exchange GRVT raises $5M in a strategic funding round led by Further Ventures (TB)

• Hamilton raises $1.7M pre-seed from DisrupTech Ventures, Core Ventures, and multiple angels (CH)

Regulation

• Utah is considering allowing the investment of state funds in crypto (DC)

• Lawmakers push for Alabama to become the most blockchain-friendly state (ADN)

• EU regulator urges countries to ensure compliance with its new stablecoin rules (CD) 

Cybersecurity

• ZachXBT was not rewarded for helping recover funds from $20M US government hack (AB)

• 14,500+ Tron wallets at risk due to unknown exploit (CT)

• Trump-related X account hacked to pump fake memecoins (CP)

• Fake TRUMP and MELANIA memecoins bring in ~$5M in 24 hours (CT)

• Jailed Bitcoin fraudsters must repay $30M or face 14 more years in jail (DC) 

• PARSIQ’s Reactive Network receives recognition for blockchain security innovation (HR)

Extra Reads

• 5 court cases reshaping crypto regulation 2025

  Case Information Here

• Top scams and hacks this week you need to know about

  Go Phish

• Macroeconomic factors to consider when trading bitcoin

  Top 3 To Pay Attention To

Chart of the Day

Countries race for bitcoin holdings, with the United States and China nearing 200k BTC

Meme Dump

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