Crypto Morning News: Pump.fun plans to raise $1 billion through token sale; Sonic to launch airdrop this month
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Crypto Morning News: Pump.fun plans to raise $1 billion through token sale; Sonic to launch airdrop this month
Metaplanet's stock ranked first in both trading value and volume on the Japanese stock market for the first time simultaneously.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Donald Trump Jr.: TRUMP Wallet Not Affiliated with Trump Organization; WLFI to Launch Official Wallet
Donald Trump Jr., co-founder of WLFI and son of former President Donald Trump, clarified on social media that "The Trump Organization has no connection whatsoever to this wallet product (developed by Magic Eden in collaboration with the TRUMP Meme project). Eric Trump and I were completely unaware of it. Stay tuned—World Liberty Financial, which we’ve been actively building, will soon launch our official wallet."
Earlier, the TRUMP wallet’s official website stated that it was a collaborative effort between Magic Eden and the TRUMP Meme team to develop a TRUMP-branded cryptocurrency wallet.
CoinShares Meets SEC Crypto Task Force to Discuss Digital Asset Regulation
According to an official announcement, CoinShares International Limited, Europe’s largest digital asset investment firm, met with the SEC’s crypto task force alongside legal representatives from Chapman & Cutler LLP to discuss regulatory frameworks for digital assets. CoinShares, which manages over $6 billion in assets, shared its experience operating ETPs in both Europe and the U.S., and proposed recommendations on five key issues:
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Incorporating staking rewards into digital asset ETPs
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Revising the “Winklevoss standard” used to evaluate digital asset ETP applications
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Solutions for custody of crypto assets
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Physical creation and redemption mechanisms
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Relaxing restrictions on registered investment companies investing in digital assets, including revoking the 2018 Blass letter
CoinShares expressed willingness to contribute its global perspective to help the SEC build a regulatory environment that fosters innovation while protecting investors.
Standard Chartered: Current Corporate Bitcoin Buying Surge Increases Demand but Also Poses Future Sell-Off Risks
According to CoinDesk, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, warned that 61 publicly listed companies currently hold 673,800 bitcoins (3.2% of total supply), and if BTC prices fall 22% below their average purchase price, forced corporate sell-offs could follow.
The report notes that Strategy (MSTR) holds 580,000 BTC—by far the largest share. Drawing parallels to Core Scientific, a Bitcoin miner that sold 7,202 BTC in 2022 after prices dropped 22% below production cost, the bank warns that if Bitcoin falls below $90,000, half of these corporate holdings would be underwater. While current corporate accumulation is boosting demand, it also creates latent sell-side pressure.
Ethereum Co-Founder in Talks with Sovereign Wealth Fund of a Major Country
As reported by Decrypt, Joe Lubin, CEO of Consensys and Ethereum co-founder, revealed that his company is in discussions with a sovereign wealth fund and a major bank from a "large nation" about building infrastructure within the Ethereum ecosystem. Lubin predicts Ethereum is entering a decentralized supercycle and could become the backbone of a new global financial system. Last week, Consensys, led by Lubin, invested in SharpLink Gaming, helping it raise $425 million into an Ethereum-based treasury, sending its stock price up over 400%. Meanwhile, fellow Ethereum co-founder Vitalik Buterin said Ethereum’s blockchain capacity could increase tenfold within the next year. Lubin called Ethereum the “gold standard of trust” and suggested its long-term value may surpass Bitcoin’s.
Trump’s Social Media Platform Truth Social Files for Bitcoin ETF
According to The Block, Truth Social, the social media platform owned by Donald Trump, has filed an application with the U.S. Securities and Exchange Commission (SEC) for a Bitcoin ETF. The NYSE Arca division submitted a Form 19b-4 on June 3. The ETF aims to track the performance of Bitcoin and is sponsored by Yorkville America Digital, an asset management firm under the “America First” banner.
Pump.fun Plans $1 Billion Raise at $4 Billion Valuation
Per Blockworks, Pump.fun, a memecoin creation platform on the Solana ecosystem, plans to raise $1 billion through a token sale at a $4 billion valuation. The token will be offered to both public and private investors, though the exact timing and venue have not yet been confirmed.
Sonic: Airdrop Launch This Month, Totaling 190.5 Million S Tokens, with 25% Available Immediately
According to official announcements, the first-phase Sonic ($S) airdrop will distribute a total of 190.5 million S tokens to incentivize user and developer participation in its ecosystem. Rewards will go to participants in Opera’s historical campaigns, Sonic Arcade users, and Shard NFT minters.
The first batch of airdrops will unlock six months after Sonic’s mainnet launch (around June 2025), allowing users to claim 25% immediately. The remaining 75% will be linearly released via NFT over 270 days. Early withdrawal of locked tokens will incur a penalty fee paid in token burns, with the burn rate decreasing over time.
Sky Introduces Stablecoin Incentives for SKY Token Staking, Offering 17.48% APY
According to an official announcement, Sky (formerly Maker) has launched stablecoin incentives for SKY token staking, with rewards distributed in USDS. The current annual percentage yield (APY) for SKY staking stands at 17.48%.
Ethereum Interoperability Protocol Polymer Hints at TGE on June 10
Ethereum interoperability protocol Polymer Labs tweeted “something is coming” and posted an image with a specific date—June 10—hinting at an upcoming token generation event (TGE).
Prior reports indicate Polymer Labs raised $23 million in Series A funding, led by Blockchain Capital.
Binance Alpha to List Lagrange (LA) on June 4
According to an official announcement, Binance Alpha will list Lagrange (LA), with trading set to open on June 4. The exact time will be announced later. Eligible users must claim the airdrop using Binance Alpha Points on the Alpha campaign page, which will go live on June 4 along with full details.
Metaplanet Stock Ranks #1 in Both Trading Volume and Value on Japanese Stock Exchange
Simon Gerovich, CEO of Japanese-listed company Metaplanet, announced on social media that Metaplanet became the top stock in Japan by both trading value and volume for the first time. Key metrics include:
Trading value reached 222 billion JPY (approximately $1.51 billion); shares traded totaled 170 million.
Market Data
Suggested Reading
Robinhood Acquires Bitstamp for $200 Million: Reviewing 2025’s Top 5 Major Crypto Acquisitions
This article discusses how 2025 has seen a surge in M&A activity across the crypto industry, highlighting five major acquisition deals that reflect the evolving dynamics of market entry and exit. Traditional firms are leveraging acquisitions to rapidly enter the crypto space, while crypto-native companies are seeking exits via sales or IPOs—a sign of maturation and consolidation in the sector.
Interview with Bybit’s Chinese Market Lead: From Meme to Mission—Achieving ‘Zero-Minute Response’
This in-depth interview with Tina, Bybit’s lead for Chinese-speaking markets, explores the exchange’s growth strategy, talent development, product evolution, and views on industry trends. Topics include Bybit’s “zero-minute response” goal, hiring philosophy, the importance of offline events, the rise of personal branding, and the convergence of crypto and traditional finance.
Michael Saylor Speech: 21 Keys to Unlocking Billion-Dollar Bitcoin Wealth
This article covers Michael Saylor’s keynote at the Bitcoin Conference, where he detailed 21 principles for achieving massive wealth through Bitcoin. He emphasized Bitcoin’s transparency, growth potential, and role in personal, family, and corporate wealth-building. The 21 points span transparency, collaboration, capability, focus, and strategic integration with AI, legal compliance, and corporate structure.
This article dives deep into the essence, challenges, and practical strategies of crypto marketing, covering developer ecosystems, token launches, community management, founder personal branding, and team building. It offers rich real-world insights and actionable advice.
a16z: The End of the Crypto Foundation Era
This article argues that the traditional foundation model in crypto is becoming obsolete. Evolving regulations and industry demands are pushing projects toward more efficient and accountable corporate structures. The foundation model suffers from misaligned incentives, legal and economic constraints, and poor operational efficiency, making it ill-suited for scaling and true decentralization. By adopting tools like public benefit corporations, network revenue sharing, milestone-based token vesting, Decentralized Unincorporated Nonprofit Associations (DUNAs), and Cybernetic Organizations (BORGs), the crypto industry can achieve genuine decentralization and incentive alignment.
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