US Senators Elizabeth Warren and Richard Blumenthal have called on the SEC to investigate the $TRUMP memecoin on Solana after its value plummeted by about 97-98%, resulting in nearly $3.8 billion in losses for almost 1 million investors. They allege the token operated as a "pump-and-dump" scheme, with insiders, including former President Donald Trump, reportedly profiting around $636 million. The investigation could clarify if $TRUMP was an unregistered security, which would have broader legal implications. This move highlights increasing regulatory scrutiny on crypto projects linked to political figures and could impact the wider memecoin market on Solana.
Bitcoin and Ethereum posted small gains while overall crypto market activity slowed, with Bitcoin dominance increasing to 58.76%. This suggests investors prefer large-cap assets like Bitcoin for liquidity and safety amid cautious market conditions. A...
Solana's price rallied in early July but failed to sustain gains above $80, currently trading near $74. Weak trend strength, declining trading volume, and modest ETF inflows indicate buyers lack conviction for a strong breakout. Institutional demand ...
Solana validators support a proposal to switch to a resource-based fee model that ties transaction fees and token burns to computing resources used, potentially increasing daily token burns from 650 to up to 9,000 SOL. Another proposal aims to double...
Cryptocurrency prices are fluctuating with Bitcoin trading around $64,232, up 0.75%, and Ethereum at $1,874, up 0.40%. Several altcoins show mixed performance, with some like ZEC and AVAX gaining over 2%, while others like BEAT and LDO face significa...
Solana announced a nine-player lineup for the WSOP: Solana Showdown, featuring prominent crypto creators competing in a World Series of Poker-branded event. This initiative highlights creator-led visibility by merging online crypto personalities with...
