CULT Meme Coin by Milady NFT Creators Goes Live

Cultcoin ($CULT), a meme coin from the creators of the Milady NFT project, debuted with a fully diluted valuation (FDV) exceeding $700 million, peaking at $845 million shortly after launch. The ERC-20 token quickly became a hit, especially among NFT collectors, with half of its 10 billion supply allocated as a "Cult fund" for strategic distributions.

The team reserved 15% of tokens with an 18-month vesting period, while community members received airdrops linked to holding Remilia Corporation NFTs. Charlotte Fang, leader of Remilia, clarified CULT is more than a typical meme coin, describing it as a “memeplexcoin” tied to a broader movement.

The launch comes as other projects like Pudgy Penguins also prepare to release tokens. Cult’s debut reflects the rising trend of integrating cryptocurrencies with NFTs to expand utility and market reach. MEXC was one of the first exchanges to announce CULT's listing.

‍

Movement Network Unveils Mainnet Beta and Token

Movement Network launched its mainnet beta and native token, marking the initial phase of its blockchain infrastructure setup. This phase includes deploying essential components like RPC nodes and indexers, aiming for secure and rapid transaction finality using the Move programming language, according to the official announcement.

The network’s 10 billion token supply allocates 40% to ecosystem initiatives, with other portions reserved for early contributors, backers, and airdrops like the upcoming MoveDrop. Movement Labs raised $38 million earlier this year, signaling strong backing for its innovative approach to bridging Move and other projects on Ethereum.

‍

MicroStrategy Adds $2.1B in Bitcoin, Sets New Record

MicroStrategy acquired 21,550 Bitcoin worth $2.1 billion, bringing its holdings to 423,650 BTC valued at nearly $42 billion. This marks the firm’s fifth consecutive weekly purchase since November 11, during which it added over 171,000 BTC to its balance sheet. MicroStrategy’s average purchase price per Bitcoin stands at $60,324.

Since switching to a Bitcoin treasury strategy in 2020, the software company led by Michael Saylor has seen a more than 2,500% increase in stock price. Hedge funds have increasingly invested in MicroStrategy’s convertible notes as a proxy for direct Bitcoin exposure, underscoring the firm’s growing influence in institutional crypto adoption.

‍

Radiant Capital Blames North Korea for $50M Hack

Radiant Capital confirmed a $50 million hack on its DeFi platform was conducted by a North Korean-aligned threat actor, UNC4736, using malware disguised as a professional PDF file. The attack, which compromised multiple developer devices, exploited blind signing and front-end spoofing to execute malicious transactions undetected.

The stolen funds were moved days later to unidentified wallets. Despite rigorous security protocols, Radiant acknowledged the sophistication of the attack and called for stronger hardware-level transaction validation solutions. This follows another exploit in January, leaving Radiant’s total value locked plummeting from $300 million to $5.8 million this year.

‍

Data of the Day

Digital asset investment products recorded their highest-ever weekly inflows of $3.85 billion, bringing year-to-date totals to $41 billion. Bitcoin led with $2.5 billion in inflows, while Ethereum saw a record $1.2 billion, surpassing previous ETF-related peaks. US funds dominated the activity, contributing $2.74 billion.

Solana products, however, faced $14 million in outflows for the second consecutive week. This unprecedented inflow underscores growing institutional confidence in crypto assets, with total assets under management reaching a new high of $165 billion.

‍

More Breaking News

• Polish authorities arrest ex-CEO crypto exchange WEX, Dmitry V. for US extradition on fraud and money laundering charges linked to the $450 million collapse.
• Stablecoin's total market capitalization surpasses $200 billion as investors seek higher yields through decentralized finance lending protocols.
• El Salvador plans to amend its Bitcoin Law to secure a $1.3 billion IMF loan, making Bitcoin an optional payment method instead of a requirement.
• Pudgy Penguins surpasses Bored Ape Yacht Club as the second-largest NFT collection by market cap, reaching $772.5 million after an 8.4% floor price increase.
• Crypto industry expresses concerns over SEC Commissioner Caroline Crenshaw's renomination, citing her opposition to spot Bitcoin ETFs.
• Bitcoin mining firm Riot Platforms plans to raise $500 million to fund additional Bitcoin purchases, potentially adding 5,877 BTC to its holdings.
• Coinbase faces criticism over account restrictions and policies targeting VPN users, attributing issues to increased activity and addressing account hacking.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.