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PUMP, the utility token of the Solana-based meme coin platform, Pump.fun is set to go live on July 12. The sale is expected to take place on Gate.com and the Pump.fun website, with 150 billion tokens sold at $0.004 each. This is 15% of the total supply, amounting to up to 4 billion in the project.

According to a post on Gate.io, which has now been deleted after mass social media commentary, the sale will be on a first-come, first-served basis. It will be held over 72 hours or until the allocation is exhausted. The buyer will not face any purchase limit, but must also hit a minimum. Separate announcements on the details of distribution and trading will be made on official channels.

The PUMP token will be used to expand the pump.fun ecosystem. Pumpfun has established itself as a frictionless market that lists tokens on the Solana blockchain. It allows users to mint and trade freely without any costs or programming skills. Every newly minted token entails a standard fair launch model.

PUMP launch on the horizon as revenue falls 92%

Despite the scheduled PUMP token launch, Pump.fun has suffered a significant drop in its protocol income and fee earnings. According to on-chain metrics provided by DeFi Llama, daily revenue dropped to $533,410 on July 6. Fees generated were less than $922,890- a daily low since March 2025.

The platform generated a high of $7.07 million in revenue and fees on January 23. This represents a 92% drop in revenue and 86% in fees. Despite the temporary surge in late March that saw fees rebound to $6.6 million, revenue did not pass $2.05 million across the same interval. This trend of weakness can also be found in monthly data.

Pump.fun recorded a combined fee and revenue of $137.12 million in January. In June, the fee totals fell to $64.47 million, or only about half the high mark. June revenues were only $39.08 million, or less than 30% of the January high. According to Dune Analytics, as of July, less than 0.01 percent of addresses had generated more than $1 million in profits on the platform, with more than 60% of users registering losses.

Recently, Pump.fun has received renewed competition in the form of BONK meme coin launchpad, LetsBonk, backflipping Pump.fun in tokens created for the first time on Monday. Notable meme tokens such as Fartcoin (FARTCOIN) and Peanut the Squirrel (PNUT) were generated on Pump.fun, and other previously popular tokens are generated through the platform, such as Moo Deng and Chill Guy.

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Instagram’s application Threads drew in 1115.1 million daily users in June, closing the gap on blogging platform X, which recorded 132 million users. Even more striking, Threads has climbed 127.8 percent compared with June last year, while X’s daily mobile count has dropped by 15.2 percent over those twelve months.

However, the story is not the same for desktop users, with X seeing 145 million daily desktop users compared to Threads’ 6.9 million views. This split likely reflects user habits: long-time Twitter fans often log in on computers, whereas Instagram users, and now Threads users, tend to open the app briefly on their phones, scroll through a few posts, and then close it.

X and Threads lead as Bluesky follows

Bluesky, the smaller newcomer, also saw a jump but remains tiny in comparison. According to TechCrunch, Bluesky’s daily active user count rose by 372.5 percent year after year, reaching around 4.1 million. In total, about 37 million people have registered on the platform so far.

Despite its growth, Bluesky remains a minor player next to the giants. However, it does have potential in the long term. And that is less related to new surges of users who appear on the platform only to protest about the policies of another network, and more related to Bluesky’s push towards becoming a more open ecosystem.

On the other hand, picking sides between Musk’s X and Zuckerberg’s Threads can feel like a lose-lose decision. While Zuckerberg hasn’t stoked as much controversy as Musk, he did indirectly back and support Musk’s push on X at one point. In the meantime, Threads’ rapid growth shows that Zuckerberg can compete by offering a cleaner, mobile-focused space, even if it doesn’t yet match X’s desktop stronghold.

At the end of the day, many users may keep both apps on their phones, dipping into Threads for quick updates and relying on X when they want live-breaking news and constant conversation. The competition is far from over, but for now, Threads is showing that it can at least run alongside X in the race for daily attention.

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In his recent appeal to the crypto community, Vitalik Buterin has urged crypto adherents and innovators to move towards copyleft open-source licenses since the current rise in concentration of power in the tech industry and the blockchain sphere necessitates the use of legal channels that would ensure the protection of collaboration. Ethereum co-founder, an early advocate of permissive license (MIT and CC0) models, now explains that they are no longer sufficient in such a secretive and competitive environment.

Buterin, however, pointed out that copyleft licensing systems guarantee that those who want to make reductions on community-built software do not get away with it and that fairness and the innovation of decentralized systems are maintained, especially in the long term.

Shift in Licensing Philosophy Reflects Changing Industry Dynamics

Buterin appreciated that he had previously advocated open and unlimited licensing to the point that his blog had an ultra-permissive license (WTFPL). But he now finds the need to have more formalized rules that guard the ability of strong actors to steal the open-source code without sharing what they have improved. 

According to his arguments, the culture in crypto has gradually changed to self-interest as most projects opt to have their code confidential. On his part, he said that this change compromises the collaborative spirit that initially characterized the development of blockchain. 

Copyleft licenses provide a solution. Derivative works must be open source, too, establishing legal equivalence between developers. Unlike permissive models based on goodwill, copyleft provides protection against monopolization that can be enforced.

Copyleft as a Tool to Balance Economic Power

Citing the economist Glen Weyl, Buterin discussed his theories on how actors in superlinear economies are likely to create disproportionate returns. He warned that the result of this dynamic is a structural imbalance, whereby well-financed companies can solely take control, with nothing to permit anything back to the neighborhood that enabled their success.  He suggested some decentralized forms of law to offset these effects, e.g., copyleft licenses. 

He asserted that such a model had the potential to reproduce the type of regulatory results observed in governmental activities within various countries, including Europe with its technology-sharing requirements and the United States with its non-compete clauses regulation. With the help of Buterin, the objective is to defend innovation without having centralized regulation.

Permissive Licenses Still Have Strategic Uses

Although Buterin is usually a supporter of copyleft, he did not deny the usefulness of permissive licenses in certain circumstances. Their limited constraints can also speed the uptake and spread of newer technologies in situations where the primary concern is their availability to many people. 

Nevertheless, he emphasized the strong necessity of protecting common efforts in the modern crypto space, which prevails over free usage advantages. He asked developers to think long-term about their licensing deals and make them align with the open collaboration strategy and fair competition.

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The native token launch of the anticipated pump fun, which was supposed to go live, suffered a blow when gate.io, which pre-listed the said launch to trade, delisted the pairs set to trade as of the token launch. 

An exchange confirmed that the pre-market activity had been frozen after talks with the Pump. Fun team. Consequently, all co-participants in the presale will reimburse their money. No additional roadmap or event regarding the issuance of a token was made.

Gate.io Halts PUMPFUN Pre-Listing Activities

Gate.io temporarily published a pre-market page for PUMPFUN, which has no intention of offering an early trading opportunity for cryptocurrency before listing. The listing was temporary and was removed in a few hours. 

This move was taken after secret discussions between Gate.io and Pump. To be fun, as both sides are said to have agreed that they are not pursuing trading activity in the PUMPFUN token yet. 

The exchange has not given any future date of release, stating once again that all the changes should be through official news.

Pump.fun was going to auction 150 billion tokens at the initial contract price of 0.004, with the focus on a presale price of 4 billion dollars, with up to one billion dollars of revenue. 

@pumpdotfun Public Token Sale: All You Need to Know– Token: $PUMP – Total Supply: 1 trillion– Date: July 12 – July 15 (3 days)– Tokens for Sale: 150 billion – Sale Price: $0.004– Fully Diluted Valuation: $4 billion pic.twitter.com/8jijGWgVBp

— SolanaFloor (@SolanaFloor) July 7, 2025

All this information was widely spread, yet not in a definite form by the project, creating suspicion that the data might have been leaked. Shortly after Gate.io published a countdown and a presale tracker, the latter were deleted.

Uncertainty Grows Around PUMPFUN Launch Timeline

Although there is some hope that Pump, fun has not approved the token’s status, the absence of clarity in the removal of the trading pair by the Gate.io platform has raised concerns about the timing and form of the launch. Other watchers of the scene now feel that the token generation event could be delayed forever. 

The lack of formal announcements has sent the community into turmoil, as nobody knows whether the original presale conditions still apply.

The exchange’s move also raises the general issue of using the same names in illegitimate tokens. In the past, several unrelated PUMP tokens have been confused in the market. 

The choice of the PUMPFUN ticker was also supposed to distinguish between the official token clearly, but it is currently not in use.

Pump. Fun Platform Sees Decline Amid Market Competition

Pump. Fun’s recent activity exhibits the prospects of retardation since the meme token launchpad on Solana is competing with LetsBonk. The highly memetic coin BONK, which operates off a new platform, has recently surpassed Pump. Play in day-to-day fee making. 

Pump. Fun’s daily fees have fallen below this threshold of 1 million since their previous setback in March and April.

More than 5,580 wallets are currently minting tokens on Pump—fun, compared to more than 13,000 at the height of operation. 

The daily dailies remain close to 100,000 users, but general activity has decreased. Meme tokens have cooled as well, and liquidity is moving elsewhere as investors pass the baton in search of the next big trend.

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The Dubai Land Department (DLD), has signed a Memorandum of Cooperation (MOC) with crypto exchange Crypto.com to explore the use of blockchain and digital currencies in the real estate sector. This announcement comes after earlier news that the government will allow the use of digital assets for payment of government fees.

According to the latest announcement, the initiative is part of the Dubai Real Estate Strategy 2033, where the country expects to build a smart, sustainable, real estate ecosystem using advanced technologies such as blockchain, and digital assets as well as tokenization. The agreement was signed by His Excellency Omar Hamad BuShehab, Director General of the Dubai Land Department, and Mohamed Abdul Latif Al Hakim, the authorized signatory for Crypto.com, in the presence of several officials and CEOs from both sides.

Dubai partners with Crypto.com to support its real estate

The partnership will see Crypto.com support Dubai’s digital real estate transactions using blockchain and digital currencies, known as crypto for property transactions. This will not only help in increasing liquidity in the real estate sector but also modernize it. The partnership also looks to build an integrated digital ecosystem that enables real estate asset trading, investor verification, and the execution of digital custody and settlement processes within a secure and advanced framework.

Crypto.com is expected to provide solutions for tokenizing real estate and trading digital assets, while the Dubai Land Department (DLD) will explore them and provide administrative and logistical support to implement these regulatory-approved joint projects. Crypto.com will also offer technical support, analytical tools, and reports for these projects.

The Department of Finance (DOF), which develops and executes the government’s annual budget, will allow payment of government fees in crypto via the Crypto.com UAE-regulated exchange. Once the system is activated, individuals and businesses will be able to use Crypto.com’s digital wallet and pay for government services. The platform will convert crypto payments into AED and securely transfer the funds to Dubai Finance accounts.

PRYPCO Mint, a joint initiative between the Dubai Land Department (DLD) and PRYPCO licensed by the Virtual Assets Regulatory Authority (VARA), has completed two tokenized property listings. This is part of the Real Estate Tokenization project, which operates under a framework developed by the DLD in partnership with VARA, the Central Bank of the UAE (CBUAE), and the Dubai Future Foundation (DFF) through the Real Estate Sandbox.

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The Shenzhen government has warned the public of the rise of a new wave of stablecoins scams in China. The growing adoption of stablecoins has necessitated the rise of more issuers, with some generating fraudulent assets with no backing. Stablecoins have been known to inspire confidence due to their price tracking of the United States dollar and other currencies.

The Shenzhen government, however, warned against abuses of the stablecoin concept. Multiple new projects are advertising the alleged security of stablecoins while engaging in fraudulent forms of financing. The local Chinese authorities monitored newly created stablecoin projects, which are receiving growing attention.

They have discovered illegal institutions claiming to use financial innovation and stablecoins as gimmicks to play on the lack of real understanding of crypto. This allows the projects to extract fiat assets in exchange for tokens with no provable backing. Some of these projects aid gaming, Ponzi schemes, and money laundering. The newly created stablecoins go beyond the scams related to existing stablecoins like USDT.

Shenzhen warns users to be careful

The Shenzhen government has warned users to increase their vigilance, avoiding offers to deposit their funds into unregistered institutions. Shenzhen authorities have also asked users to report any unregistered institutions aiming to raise funds to issue stablecoins. The recent crypto fraud is unrelated to entirely fake investments used in phishing scams. In the case of illegal fundraising, the investors have no resort to compensation or attempts to retrieve funds.

Risky stablecoins are few, compared to asset-backed USDT and USDC. However, some are still in circulation, with most of them posing the risk of depending. For new, unverified projects with little connection to DeFi, the stablecoins may be a scheme, with no way to access funds. While USDT and USDC can be tracked and frozen, newly minted stablecoins for small-scale projects remain difficult to trace, and most are created without an option to freeze or control funds. Small projects also pose risks of rug pulls or flawed smart contracts.

Stablecoin supply reaches its peak

Meanwhile, regulations for stablecoins in the US and euro have affected the supply of stablecoins positively, with USDC and USDT reaching near-record supply. USDT on TRON also increased, offering wider access for international traders. Currently, USDT and USDC are also among the busiest smart contracts on Ethereum, showing heightened stablecoin activity. Some of that activity is related to scams, but most of the use cases involve exchange trading and DEX swaps. Based on Artemis data, stablecoins have a supply of $249.8B.

In 2025, algorithmic stablecoins have become a niche, due to the increased risk of depending on exploits. Currently, this asset class boasts over $750 million in locked value, down by 50% since 2024. The value of crypto-backed stablecoins has also increased to $11.3B, up from $8.7 billion in 2024. The favorable regulations for fiat-backed assets led to supply expansion, with over $116.9B locked in fiat-backed stablecoins or those secured by US bonds. Some crypto-backed stablecoins are still used in DeFi, though mostly are linked to highly liquid protocols. After the crash of Terra (LUNA), stablecoin issuers turned more conservative, growing the stablecoin supply more gradually.

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Elon Musk has confirmed that his newly formed political party in America, the America Party, will be pro-Bitcoin. 

Tweeting through X, Musk said that fiat is hopeless, which puts the party on the same side as pushing digital currency and opposing the traditional monetary system.

This comes as a result of the recently unofficial launch of the America Party, which occurred only a few days after the public clash between Musk and the former President, Donald Trump. 

The schism started when Musk criticized Trump for neglecting moderate voters. In turn, Trump made a post on Truth Social in which he blamed Musk as a train wreck and publicly expressed his disappointment in his former ally.

Musk’s Political Move Draws Attention from Other Parties

Before starting his party, Musk received offers of partnerships from several political leaders. Andrew Yang, who started the Forward Party, said he had talked to Musk about the possibility of working with Politico Magazine. Musk had earlier in 2020 helped Yang fund his presidential campaign, but no deal was made.

Even the Libertarian Party leadership was interested, as Steven Nekhaila, their Libertarian National Committee chair, contacted me last week. Nevertheless, Musk refused to cooperate with any of the groups and stuck to his intentions.

Policy Shift Tied to Recent Legislation

The formation of the American Party was triggered to a large degree by Musk’s reaction to the One Big Beautiful Bill Act. As the bill lobbied Congress, Musk promised that once it passed, he would initiate a new political dynamic. Musk replied to legislative action by starting a second poll on X on July 3, when the bill passed the House. He also declared plans to sponsor primary rivals of Republican officials who voted in favor of the bill.

Musk accused both Republicans and Democrats since they are a part of the same uniparty that has no significant policy differences. This message was attractive to voters who wanted some alternatives to the two-party system most specifically to those identify with, technological innovation and decentralization.

Challenges Facing the New Political Party

Even though Musk is a world-famous personality with money, the American Party still has a long way to go. Obtaining ballot access in the 50 states is not easy. Public opinion on him has also been turning negative since previous disappointments like his unsuccessful attempt to influence the 2025 election to the Wisconsin Supreme Court and his scandal-filled time at the Department of Government Efficiency.

Moreover, Musk was born in South Africa, which disqualifies him as a presidential candidate. This leaves the party wondering who will lead them. At this point, the political structure of the America Party is not present, and Musk, Bitcoin support, and anti-establishment messaging are at the center.

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After the United Arab Emirates clarified, the coin (TON) fell by 6 percent. The explanation dismissed the allegations that staking the token would qualify one for the country’s golden visa program. 

This drop occurred not long after UAE officials stated that there was no relationship between cryptocurrency investment and obtaining a golden visa.

UAE Authorities Deny Crypto-Based Visa Eligibility

On Monday, a joint statement was issued with several UAE regulatory authorities, such as the Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority. 

They ascertained that possession of digital assets is not a requirement for granting golden visas. The agencies pointed out that cryptocurrencies are regulated independently and are outside the domain of residency-by-investment schemes. 

They encouraged the prospective investors to use only legitimate sources of government information to be reflected as authentic and legitimate.

Surge Followed by Sharp Decline

Just after the Open Network asserted that staking the token worth 100,000 can earn applicants access to a golden visa lasting 10 years, the price of TON soared by 10 percent to reach 3.03. The platform also mentioned that users would have to undergo a processing fee of 35,000 dollars. 

The news resulted in a massive buzz, but it became huge with the announcement by Telegram CEO Pavel Durov re-sharing the news of crypto-influencer Ash Crypto. However, after the UAE denial, TON slipped to the price of 2.84, having lost 6 percent of the 24-hour maximum.

Community Reaction and CZ’s Comments

Binance founder (ex-CEO) Changpeng Zhao (CZ) was unsure that TON was legit. He observed that the platform may be charging 35,000 dollars to hand over the applications to the agents, who typically charge about 1,000 dollars. 

According to CZ, he supports Durov but feels that official cooperation with the government should be in place, and an official announcement should be made about such a program. He said that he did not check the offer and pointed out that the original post did not contain exact information. 

Other online users were also not convinced about the validity of the partnership, citing the previous case of publicly refuted alleged collusion between Elon Musk and X.

In 2019, the UAE launched the golden visa to invite talents, investors, and entrepreneurs. The present necessities are AED 2 million or AED 250,000 yearly in the form of business contributions and investments in real properties. Other types of people who can obtain it are experienced professionals, scientists, retirees, and students, provided certain conditions are met. Under no circumstances is it possible to access the visa using cryptocurrency staking.

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Investigators in the US Secret Service have seized almost $400 million in digital assets associated with cybercrime networks, a big leap forward in enforcing cryptocurrencies worldwide. 

During the last decade, the agency’s Global Investigative Operations Center (GIOC) has become active in liberating global criminal alliances and virtual asset criminalities.

Scams Begin with Friendly Conversations and End in Financial Loss

Most of them start with basic conversations on the internet where the victims are tempted to join what seem to be genuine crypto-based investment networks. One of the victims was taken by a stranger to a professional site that appeared promising in return. Emboldened by the initial wins, the victim would put in additional money including even loaning. The location was subsequently lost and the money got lost. Jamie Lam, an investigative analyst for the Secret Service, told us how these scams tend to begin in such a way that a picture of a pretty girl and pleasant conversations hide the well-planned worldwide activity.

Investigating a single such case, GIOC traced it with domains and a crypto wallet. A short-lived VPN malfunction gave away an IP address, which assisted the investigators in tracking the scam to its origins. This is not an isolated example; there have been hundreds of cases in history when cybercriminals used human trust and the digital environment to steal millions of dollars.

Leadership and Global Training Efforts Expand Investigative Reach

Kali Smith who heads the cryptocurrency strategy function at the Secret Service has organized trainings in over 60 destinations with a view to enabling local agencies to use crypto fraud. These targets are zones that have loose laws and initiatives that provide residency or citizenship in lieu of investment. During a recent session in Bermuda, Smith pointed out that victims usually think wrongly that cryptocurrency is safe. She cautioned that such an assumption is what causes individuals to become targets of fraudsters.

The training was held in Bermuda due to the region’s crypto-friendly policies, but there are fears that this openness can invite malicious users. Governor Andrew Murdoch admits the economic advantages of digital finance but emphasizes the necessity of powerful investigative systems to prevent their abuse.

Crypto Crime Drives Record Losses and Real-World Violence

In 2024, Americans have lost nearly $9.3 billion in crypto-related fraud, which is bigger than the total yearly losses on cybercrimes by the FBI. The elderly victims lost 2.8 billion of their money mainly to fraudulent investment schemes. Others became violent where the victims were kidnapped or extorted to obtain access to their wallets. In another of these high-profile cases, in Connecticut, six individuals were charged with kidnapping the parents of a teenage hacker in relation to a stolen Bitcoin fortune of 245 million dollars.

The Secret Service still collaborates with such companies as Coinbase and Tether to freeze suspicious accounts and monitor stolen funds. A significant confiscation of $225 million of USDT was associated with a global romance-investment fraud.

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United Kingdom ministers have kickstarted efforts to fine crypto traders evading payment of taxes on their trading profits. Typically, crypto holders are mandated to pay taxes on profits from trading assets like Bitcoin, Ethereum, and XRP, but this new rule seeks to fine those trying to evade the process.

According to the new rules, users who fail to provide their details to their crypto service providers to ensure they are paying the right amounts to the HMRC will face fines of up to £300. The new crypto tax rule, which is known as the Cryptoasset Reporting Framework, is expected to take effect from January and raise about £315 million by April 2030.

United Kingdom to fine crypto tax evaders

Under the new rules, any crypto service providers that fail to provide accurate details about transaction and tax reference numbers are expected to also face fines. James Murray MP, Exchequer Secretary to the Treasury, talked about the new rules.

“We’re going further and faster to crack down on tax dodgers as we close the tax gap. By ensuring everyone pays their fair share, the new crypto reporting rules will make sure tax dodgers have nowhere to hide, helping raise the revenue needed to fund our nurses, police, and other vital public services,” he said.

The new rule comes after Rachel Reeves, Chancellor of the Exchequer, refused to rule out the possibility of tax increases after the United Kingdom government made a U-turn on welfare reforms. The Chancellor, whose tears in the Commons spooked the financial market, said she was not going to apologize for trying to make sure that the numbers add up.

“But we do need to make sure that we’re telling a story and a Labour story. We did that well in the Budget and Spending Review, we increased taxes on the wealthiest and businesses,” she said. When asked whether she was prepared to rule out further tax rises, she said it was not going to happen, because it would be “irresponsible for a Chancellor to do that.”

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Tesla billionaire CEO Elon Musk has announced the official launch of his political party, America Party. Musk announced on Saturday, telling his over 180 million followers that he has officially launched his political party.

“Today, the America Party is formed to give you back your freedom,” he posted on X, less than 24 hours after polling users on whether the US needs a new party. “By a factor of 2 to 1, you want a new political party and you shall have it!” he said. The decision to launch the party came after the United States president signed a tax-and-spend bill into law, a move that has stoked tensions between both parties.

Elon Musk backed Trump with hundreds of millions during his campaign and served under his administration as head of the Department of Government Efficiency (DOGE) and close confidant, warned about the bill repeatedly. Trump disregarded his warnings, signing the bill anyway. The president also has plans to remove all federal subsidies going to Elon’s businesses, a number that runs into the tens of billions. Elon’s answer was simple: launch a party, cut ties, and go to war.

Elon Musk has plans to fund takedowns of lawmakers

According to Elon Musk, he has plans to spend his money to oust lawmakers who voted for the bill, and he intends to kickstart the process under a new party. Musk wants full control, and it is already freaking out the GOP. Republicans are worried that the public feud between him and Trump could wreck their chances of holding onto congressional seats in the 2026 midterms. “Increasing the deficit from an already insane $2T under Biden to $2.5T. This will bankrupt the country,” Musk said on X.

Election attorney Brett Kappel was asked by CBS News about the kind of experience needed to build a party like this. “Only the richest person in the world could make a serious effort at creating a new American political party,” he said. While Elon Musk’s wealth makes it possible, that doesn’t mean it would be easy. Every state has its own ballot access rules, and most of them are built to block third parties.

Kappel said political parties are “creatures of the states,” which means Elon has to navigate 50 separate systems. In places like California, it’s brutal. To even be recognized as a party there, you either register 0.33% of all voters or collect 1.1 million signatures. After that, you’ve got to keep up those numbers or win 2% of the statewide vote just to stay qualified.

Aside from California, every other state has its own rules and thresholds. This means that Elon will need to get each version of the America Party approved individually, and then request an advisory opinion from the Federal Election Commission to be taken seriously at the national level. None of this happens quickly as legal teams will be all over it. Democrats and Republicans can, and definitely will, fight every signature. The lawsuits alone will cost a fortune.

The current legal system favors the two-party system and works to block third-party entries. Even for someone like Elon, getting recognized in all 50 states before 2026 is unlikely. “It might be doable for Musk to get a few favored candidates onto the ballot in certain states,” attorney Kappel said, but building a full national party “would take years.” still, Elon feels he doesn’t need 50 states, noting on X that a party could “laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts.”

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The launching of a new political organization, the America Party, has made Elon Musk an official participant in the American political scene. 

He announced the same via his social media X on Saturday, in which he stated to his 180 million followers that the party’s aim is to reinstate individual freedom. This was after he carried out a user poll that indicated a forceful demand for forming a new political party.

Musk’s move came after he had another fallout with former President Donald Trump, who signed another controversial tax and spending bill. Trump signed the legislation even despite Musk’s warnings, leading the two into a sharp break. The situation only got heated after the news broke that the Trump administration was intending to remove billions of federal subsidies it had earlier assigned to companies run by Musk. To this, Musk retaliated by promising to put up political opposition with his own funding through the America Party.

Musk Pledges Personal Funding for Political Challenges

Elon Musk has made an obligation to use his wealth to oust congressmen who voted in favor of the new federal spending bill. He plans to achieve this by inciting the formation of the America Party without external donors, party officials, or governors. This independent idea has the advantage that he has complete control over where this party is headed. According to him, raising the federal deficit to $2.5 trillion would be harmful to the economy and might bring financial bankruptcy to the country.

According to the republican leaders, they are fearing that they may lose seats in the midterm 2026 elections as a result of the public break up between Trump and Musk. His ever-increasing power, combined with unlimited access to finances, can create a problem in terms of a common campaigning mechanism.

Ballot Access Remains a Major Barrier

Legal logistics experts point out the insurmountable odds ahead of Musk’s formation of the new party. According to longtime election lawyer Brett Kappel, U.S. political parties have to qualify on a state-by-state basis. It takes a party in California alone, either half a percentage of voters registered or over a million signatures to become popular. These have their barricades in all the states, which have their own set of regulations, making it a long process and expensive as well.

It would take years for a wealthy individual like Musk to secure his place on the ballot nationally. The lawsuits are imminent as Democrats and Republicans commonly dispute the actions of third parties.

A Focused Strategy on Key Congressional Seats

Instead of trying to cover the entire country, Musk pointed out that he would focus on a small number of races within the Senate and House of Representatives. This is because he feels that by controlling some key seats, he would influence the acts of the legislature. Such a plan would enable the America Party to achieve this disproportionate influence without the necessity of winning big elections.

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Bitcoin’s volatility has fallen to its lowest in 20 months, amidst the lure of institutional interest in the digital coin. United States Spot Bitcoin ETFs are approaching net inflows of $50 billion, which indicates that the cryptocurrency is in demand by large institutional investors.

Volatility Declines While On-Chain Activity Slows

The implied volatility of BTC, that is, the anticipated volatility of BTC-derived item costs in the time frames of a week, three months, half a year, and a year has collapsed to the lowest value recorded since October 2023. The price of Bitcoin at that time was about a third of what it is today. The Bitcoin empire was accompanied by restrictive volatility as well as a low presence of transactional activity in the Bitcoin network. In June registered sales dipped by fifteen percent to their lowest level since late 2023. The decreased activity has seen miners process abnormally low-fee transactions, which constitutes a slowdown in network demand.

ETF Inflows Break Records as Institutional Demand Rises

Institutional investors are capitalizing heavily on Bitcoin despite the decline in on-chain activity. Over a two-day period last week, net inflows into spot Bitcoin ETFs in the US surpassed $1 billion, and the total aggregation is approaching fifty billion dollars. The total amount of Bitcoin (around $137.6 billion) that these funds have is a record high for ETFs. 

An increase in exposure among publicly traded firms is also witnessed. In June, companies estimated their purchase of 65,000 BTC, which is about $7 billion. According to on-chain information indicated by Glassnode, large transactions involving high value are also emerging and starting to dominate the environment, reflecting more of the activity by large investors and institutions.

Market Faces Resistance as Kiyosaki Reaffirms Bullish Outlook

There is mixed sentiment in the marketplace as Bitcoin attempts to push past the $109,500 resistance zone. Some analysts have warned that the price is likely to correct itself to the range of $90,000, another point that is drawing a red flag on price action in the short term. However, author and investor Robert Kiyosaki rejects these bearish predictions. 

On X, he lamented against the predictions of crashes being created out of fear to scare away investors. Kiyosaki reaffirmed his long-range bullishness in Bitcoin and termed it a buying opportunity disguised as any significant decline. He still estimates that the value of BTC may reach 1 million by 2030. When it comes to the short term, he was more optimistic about silver as he predicted its threefold growth to $105 before year-end. At the same time, the weakened US dollar index may present another support line for Bitcoin prices.

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Large cryptocurrency exchange OKX has committed to updating its compliance and risk management systems after more users reported account freezing and other warning signs that are happening often. 

The platform acknowledged that its existing systems have incorrectly labelled some authentic users as high-risk resulting in account restrictions and requests of further personal data.

Compliance Measures and User Monitoring

According to OKX, it has compliance measures such as Know Your Customer (KYC) verifications and transaction surveillance; which help to impede law abidance exercises and guarantee conformity to international laws and regulations. The platform screens user activity against sanctions lists and applies proprietary behavior models and third party databases in measuring risk. The employee version of such checks also exists, and OKX insists on a zero-tolerance policy on misconduct, whether it is disinformation, insider trading, or any action that may cause damage to users.

The exchange said that accounts deemed to have breached may have temporary bans, demands of evidence, or be closed permanently. When the accounts are connected to the sanctioned persons or those that involve terrorism suspicions, the platform will lock the asset of the users. OKX stressed that such efforts are required because of operational security needs and legal requirements.

System Errors and False Positives

As it justified the necessity of its risk controls, the exchange also admitted that false positives are still an issue. The exchange acknowledged that a number of the individuals have ended up being falsely flagged as dangerous and hence their businesses interrupted, as well as demands of sensitive documents. It blamed such mistakes in part to conservative regulatory trends that favor strict user vetting. OKX assured its user that non-involvement in illegal activities would not lead to permanent punishment and privacy right will be exercised during the process.

The platform claimed that it labors to streamline the systems to limit inconveniences and enhance the submission procedure to users brought about by risk alerts. It motivated the users by asking to submit demanded records like address verification, work history, and financial sources records, which should be embraced because then issues will take short time to solve.

User Frustrations and Accusations

Some users indicated their dissatisfaction with the process through which the flagged accounts are managed although the platform assures them of being safe. A user testified on having his account with 10,000 USDT frozen upon being questioned around the same information about his personal and work history severally. He claimed that the process was purposely made cumbersome and criticized OKX of mistreating its compliance checks to chase people away.

The reaction of users indicates that OKX has acted unfairly and regulatory compliance is not seen as sufficient reason to continue its actions; greater accuracy and finally achieved transparency in the risk assessment process can be viewed as the main reason behind the increasing anger of the users.

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A small-scale Bitcoin miner has won a full block reward of 3.173 BTC using a small-scale mining rig. According to the Mempool Space website, the solo miner known as Solo CK won a total of $349,028 worth of Bitcoin subsidy and fees after solving block number 903,883.

The miner netted ‎3.10918096 BTC, equivalent to $338,105 after paying the pool’s fees of 0.06345267 BTC. The miner won the Bitcoin block reward through the CKpool platform while running hardware with a hashrate of 2.3 PH/s. The CKpool dev and admin, Con Kolivas, posted about the achievement of the solo miner on X and congratulated him.

Solo Bitcoin miner records win after beating odds

At around 2.3 PH/s, Solo CK controlled a tiny fraction of the global Bitcoin network hashrate, which ranges between 600 and 700 EH/s (exahash per second). Statistically, this translates to about 0.004% chance per day of finding a block, which equates to Con Kolivas’ calculation of an average of once every 8 years.

The log output shared by the CKpool admin on X showed that the solo miner’s rig averaged about 2.3 PH/s over the past hour and between 2.17 to 2.22 PH/s over the past 1 to 7 days before solving the block. This average hashrate is considered high for a solo miner, suggesting a powerful setup roughly equivalent to the output of 10 Antminer S21 units.

The log also showed that the block difficulty was around 941 trillion, and the solo miner submitted about 79.6 trillion shares (or attempts) before solving the block. This equates to 68% of the expected effort needed to solve a Bitcoin block, meaning the solo miner solved the block earlier than average. This is not the first time a solo miner hits the jackpot and takes the full Bitcoin block reward.

In February 2025, a solo miner solved block number 883,181 and won 3.125 BTC, which was worth over $300,000. A Bitcoin miner said on X that the winner used an implementation of the CKPool and speculated the usage of Bitaxe. In March another solo miner solved block number 887,212 and won around 3.15 BTC, equal to $263,000 at the time.

Con Kolivas shared the news on X and said the miner used a 480 GH/s Bitaxe device to solve the block with a hashrate of just 3.3 TH/s on CKpool. Such a miner has less than a 1-in-a-million chance of finding a block per day — meaning, on average, it would take about 3,500 years to discover one. Bitaxe is a DIY open-source Bitcoin miner often used by hobbyists. It’s made with a single ASIC chip, typically from the Antminer S9 series, and has a hashrate of around 480 GH/s.

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Lawmakers in Sweden have called on authorities to use more forfeiture laws that were put in place last November. These laws allow law enforcement to forfeit digital assets even if it cannot be proven that the holder broke the law to get them.

This means that if officials in Sweden believe that someone has earned digital assets via illegal means or that person cannot explain where the money came from, the police and other arms of the government will be able to acquire it by law.

Lawmakers in Sweden advocate for national Bitcoin reserve

According to Strömmer, the new laws are one of the strictest in Europe. Following reliable sources, the rule prompted the seizure of 80 million Swedish kronor, equivalent to $8.4 million in assets. According to the website of the Swedish parliament, this law also applies to children and young people, as well as those who suffered from a severe mental disorder at the time of the crime.

Based on the Minister of Justice they aim to ensure that the authorities work together more closely and pay special attention to assets that bring big profits. “Now it’s a matter of turning up the pressure further,” Strömmer said. Strömmer’s requests for more active seizures come as some Riksdag lawmakers advocate creating a national Bitcoin reserve. This approach resembles the trend in the US, Czechia, and Italy.

The move was also supported by a leading advocate for Bitcoin reserve in the country, Denis Dioukarev. The member of the Riksdag told reporters that he agrees that law enforcement needs to increase seizure enforcement. He welcomed every effort to seize illegally obtained assets. Dioukarev argued that this would help to fight crime and make life hard for criminals. As for what will or should be done with seized crypto, Dioukarev reiterates his calls for the accumulation of a strategic reserve

Based on his explanation, cryptocurrencies in general and Bitcoin in particular that are confiscated should be transferred to Sweden’s central bank, the Riksbank, to build a strategic Bitcoin reserve. However, when reporters asked the press office of Minister Strömmer about the fate of the seized assets, they could not provide an answer to the question at the time. This development questions what Strömmer and the Swedish government intend to do to enhance crypto-related asset seizures.

In 2024, 62,000 individuals were linked to criminal activities in Sweden, according to the Bloomsbury Intelligence & Security Institute. Drug dealers and money launderers were among those using the assets, though it is hard to measure exactly how much. In addition, in September, the Police Authority and the Financial Intelligence Unit in Sweden reported that some cryptocurrency exchanges were skilled money launderers. The report recommended that law enforcement gradually increase its monitoring and infiltration of crypto exchange platforms to help detect and disrupt illegal operations.

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Mara Holdings has reached a milestone of 50,000 BTC, making a historic feat for the company. The second-largest BTC treasury holder, the mining company relies on its growing hashrate to boost its reserves. Unlike other treasury companies, Mara Holdings combines a growing mining operation with occasional purchases. The company announced it plans to double down on expanding its mining operations, reaching 75 EH/s by the year-end.

The company started out at 27K BTC in Q4 2024, making a series of deliberate purchases. After that, the company also continued to acquire small tokens through its mining operations. While the acquisition price of Mara Holdings remains unknown, it is significantly lower compared to that of new treasury companies. The company has also announced a $2 billion plan to buy more BTC, though the shares would be sold at intervals at the discretion of Mara Holdings.

Mara Holdings tripled its treasury in the last 12 months

Over the past 12 months, Mara Holdings has nearly tripled its treasury, though it did it without copying Strategy (MSTR). The Mara.com pool currently produces around 7% of all blocks, with around 45 EH/s in active mining power. According to its known wallets, Mara Holdings also mines as part of the Foundry pool, further putting its hashrate to work.

Mara Holdings added 761 BTC to its wallets in June, following an inflow of 950 BTC in May, with none of the new coins sold. May was a monthly record, followed by a slowdown in June, mostly due to weather conditions, stated Mara Holdings in its recent half-year report. The Bitcoin mining rate remains high, at over 1,000 EH/s for the entire network, despite the recent slowdown due to a heatwave.

Mara Holdings has surpassed other miners in its readiness to hold onto the newly produced BTC. Miner reserves remain at 1.89M coins, though not all are dedicated to treasuries. Other mining companies like Riot Platforms and CleanSpark have also retained significant reserves, even though they do not have a treasury plan. Even before the announcement, MARA shares expanded by over 15% in the past week, trading at $16.78. MARA is at a one-month peak following a record month for BTC treasury companies.

The past month also signaled another high tide for treasury companies, with over 68K BTC taken off the market due to large-scale purchases by Strategy to deal for under 10 BTC from unknown businesses. In total, corporate buyers made 250 announcements, coming from companies in healthcare or even coffee sales. A total of 21 new treasuries were announced, buying around 6,745 BTC. A total of 141 public companies now hold BTC, with more funding rounds announced.

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The United Arab Emirates (UAE) law enforcement has arrested WhiteRock founder Ildar Ilham, according to a social media post shared by blockchain investigator ZachXBT. Ilham was arrested after he became a person of interest over his alleged involvement in the ZKasino exit scam, which stole $30 million.

According to the notice shared by ZachXBT, Ilham was arrested by the authorities in the UAE, who then contacted the Netherlands to inform them of the arrest. He will reportedly be extradited to the country where he will face criminal charges. The ZKasino project he was involved in was marketed as a decentralized gambling platform and raised over $30 million in presale funds last year. However, it failed to deliver, and the team allegedly resorted to diverting investor funds.

UAE authorities arrest Ildar Ilham in connection with the ZKasino scam

This arrest comes months after Elham Nourzai, another key figure linked to the plot, was arrested by Dutch authorities last year in April. Nourzai was later released, after which the stolen funds suddenly started getting laundered on-chain via networks like ZkSync, Starknet, Ethereum, and Solana. Victims of the scam have been expressing their satisfaction at the arrest, taking to the comment section of the post to share their thoughts.

ZachXBT first made the connection when he revealed a link between at least one team member from the $30M ZKasino exit scam and the WhiteRock project by tracing on-chain transactions linking both projects and a personal email address. According to ZachXBT, WhiteRock (WHITE) burst onto the scene late last year, complete with a number of large red flags that did not go unnoticed.

The on-chain investigator highlighted some of those red flags, including an anonymous team with no history, fake partnerships, and many side wallets funded via instant exchanges. The investigator was also able to find Ildar’s connection to WhiteRock after contacting an influencer who was paid via a WhiteRock marketing wallet. ZachXBT also found that the wallet had funds with stolen ZKasino bounty.

There were also several transactions between late February and early March 2025 in which ZKasino funds were transferred to an instant exchange, with WhiteRock wallets receiving similar quantities from other instant exchanges via XMR. Despite its shady prospects, WhiteRock has yet to pull a rug, but ZachXBT believes that Ildar’s connection with the project, as well as the project’s history with names like ZKasino, means there is a high possibility that it will eventually happen.

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The U.S. House of Representatives will officially pick up where Crypto Week left off, paying attention to a list of key cryptocurrency bills that seek to define the regulation of digital finance, starting on July 14. Intended by House Speaker Mike Johnson and Financial Services Committee Chair French Hill and Agriculture Committee Chair GT Thompson, the move is part of the Gaopai Republican attempts to make its policy consistent with that of Donald Trump, who is a former President and is now pursuing an agenda that embraces cryptocurrencies.

During the week, legislators are set to discuss and pass a number of bills concerning digital asset regulation, oversight of stablecoins, and the transparency of market structure. In a move precipitated by Trump openly calling lawmakers to pass a bill on digital currencies, GOP leaders have stressed the importance of moving a stablecoin bill through by August.

Stablecoin bill tops legislative agenda

The main attention will be paid to the stablecoin bill, where the House is predicted to take the Senate-approved GENIUS Act. According to this legislation, all stablecoins are to be backed by U.S. dollars or other liquid assets. It also subjects issuers with market values over 50 billion to stringent audit requirements, and foreign-based entities are also subject to the rules.

Earlier, the House had been supporting its enactment, the STABLE Act, which harbored some more gumby regulatory frameworks and a different standpoint on international issuers. Nonetheless, it seems that the Republican leadership is willing to take up the Senate version to meet the August deadline. The GENIUS Act has already passed through the Senate, and thus, it is a wise decision to advance the bill quickly to the President’s table.

Market structure bill aims to define oversight roles

The Digital Asset Market Clarity Act is another bill that will be discussed during Crypto Week. It seeks to clarify the Securities and Exchange Commission and the Commodity Futures Trading Commission’s regulatory responsibilities. The bill would compel crypto companies to make auditable financial announcements and separate customer finances from slush funds.

The OPs cite the legislation as one that will reduce confusion with digital asset regulation and avoid lunatics such as the FTX crash in the future. Most of the opposition to the bill has come from critics, largely on the Democratic side, who cite that the bill could benefit politically affiliated parties of the crypto sector, such as Trump himself, who has profited significantly from a number of digital currency projects.

CBDC ban bill sparks debate over financial privacy

House Majority Whip Tom Emmer will file a bill that prohibits the Federal Reserve from releasing a consumer-facing central bank digital currency. According to Emmer, this would be a dangerous step that would threaten financial privacy and individual freedoms. The move may result in greater scrutiny of government surveillance of private transactions.

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The European Union has been pressured by executives of leading European tech firms, including Airbus, BNP Paribas, and other firms to put its new artificial intelligence law on hold. According to the firms, it could undermine the bloc’s ability to keep pace with the United States and China.

According to the Financial Times, CEOs of major companies asked the EU’s Ursula von der Leyen to delay the AI Act for two years. They warned that overlapping, unclear rules could discourage investment and slow down AI development across Europe.

In their letter, they argued that the European complex rulebook “puts Europe’s AI ambitions at risk, as it jeopardizes not only the development of European champions but also the ability of all industries to deploy AI at the scale required by global competition.” Among those who added their signatures were the chief executives of Carrefour, a French retailer, and Dutch health‐tech group Philips.

European Union AI champions commitment to competitive rules

The letter was organized by the European AI Champions Initiative, a coalition of 110 companies across various sectors. It said a two-year pause would send “innovators and investors around the world a strong signal that Europe is serious about its simplification and competitiveness agenda.” Start-up founders and their investors have voiced similar concerns.

In a separate letter this week, over 30 start-ups chiefs in the EU warned that the legislation was “a rushed ticking time bomb.” They fear that unclear rules on general-purpose models could lead to a patchwork of national regulations, giving well-funded US tech giants an edge over smaller local firms.

Many businesses worry that any company using LLMs in its own systems would face the same regulations as the biggest tech groups, especially in sensitive areas including liability of copyrights. Some say the lack of clarity on how member states will apply the rules may deter firms from rolling out AI tools, causing them losses against rivals in North America and Asia.

The EU Commission stressed that it remains “fully committed to the main goals of the AI Act, which include establishing harmonized risk-based rules across the EU and ensuring the safety of AI systems on the European market.” It added that it is simplifying its digital rulebook broadly so that it can consider all options in the current state.

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