Pump.Fun's Success Story: $100M in 8 Months

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Another week of exciting crypto news. Also another week of waiting for the bull run 🐂 Some headlines below include: Trump’s million-dollar crypto positions; Italians getting saucy with bitcoin trading; Dubai’s new regulation on crypto payments for salaries; Facebook’s crypto scam ad issues; and Pump.Fun’s rapid success in just 8 months.

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• Trump’s latest crypto venture will involve real estate (TD)

• Italy’s oldest bank Banca Cella is now offering bitcoin trading services for 1.3M+ customers (CG)

• Pump.Fun will reach $100M in cumulative revenue within 8 months (TB)

• Exodus wallet reports a $10M net loss in quarterly report, after $2M profit in Q2 of ‘23 (TB)

• Bitwise acquires ETC Group to expand their European crypto ETP (X)

• Apple to announce ‘powerful’ wallet update for crypto users (F)

• Over 75% of Bitcoin has not been transacted in the last 6+ months (BM)

• Gate Ventures and Blockchain Center (Abu Dhabi) announce new $100M web3 innovation fund (NG)

• Sahara Labs raises $37M round led by Pantera and Polychain Capital (TB)

• Fabric Cryptography raises $33M Series A with plans to build a new cryptography processing unit, a VPU (TB)

• Sling Money closes $15M Series A from USV, Ribbit Capital, and Slow Ventures for global payment application (TB)

• Holonym announces $5.5M seed round led by Finality Capital and Paper Ventures for digital identitiy security (CB)

• OKX Ventures, Nomad Capital, and others participate in $5M strategic funding for Orderly Network (NG)

• Multicoin Capital leads $3.5M round for Crunch Lab (TB)

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• Dubai rules crypto is a valid salary payment (CT)

• Thailand’s SEC launches digital asset regulatory sandbox for blockchain innovation (LI)

• SEC approves first leveraged MicroStrategy ETF (BM)

• SEC crypto enforcement chief is leaving for a private practice opportunity (TB)

• Democrats are opening up to crypto (TD)

• U.S. federal agencies look to include crypto in updated reporting rules on money (CB)

• Fed enforcements now focus on instant payments and tokens (P)

• Alleged $238M bitcoin hack is suspected to be carried out by North Korea’s Lazarus Group (CG)

• Drive Planning, a real estate Ponzi Scheme, moved $370M of funds to Coinbase (PR)

• $1.3M crypto heist exposes North Korean developer network (MR)

• Nigeria freezes $37M of crypto traced to protest organizers (PM)

• Australian government files case against Meta claiming 50%+ of crypto ads on Facebook are scams (TG)

• Styx Stealer malware capable of stealing crypto and browser data discovers flaw (NB)

• Uniswap to host a security competition for web3 builders with a $2.35M prize pool (US)

• Crypto VC BlockTower Capital sells off $25M of ETH (CG)

• BlackRock ETH ETF has hit over $901M of net inflows (CB)

• A sluggish Ethereum is representative of the web3 development dilemma (HN)

• Trump holds over $1M in ETH (CD)

• Trump is dealing with NFT licensing fees (CD)

• Vitalik sells 200 ETH of memecoins to donate to charity (TD)

• South Korea invests $34M in Microstrategy (CD)

• Bitcoin mining profitability falls to all time lows in August (CD)

• A Colorado church is putting its chapel on-chain (F)

• Polkadot team is finally attending web3 summit after 5 years (FY)

• Shaquille O’Neal’s court ruling of involvement with Astrals NFT project has split verdict (CNZ)

• Justin Sun launches Pump.Fun rival Sun.Pump (TD)

• Crypto adoption is growing (FP)

• Digital creation control for web3 artists (TS)

• Solana Virtual Machine is getting involved in web3 gaming (TMP)

• Worldcoin is using digital identification in Malaysia (CS)

• Layer3 solutions are tackling blockchain gaming’s biggest issues (NNT)

• Decentralized consumer applications for everyday users (TBP)

• Animated video explains BTC 🎥

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