Pump.fun Schedules July 12 ICO for PUMP Token

Pump.fun will officially launch its PUMP token on July 12 across Kraken, Bybit, KuCoin, and others, with 150 billion tokens offered and sales ending July 15. Citizens of the US and UK are barred entirely from participating in either the ICO or the airdrop.

Verified users must complete platform KYC checks to access the sale, with tokens becoming transferable within 48 to 72 hours after the offering closes. Pump's airdrop timing remains unannounced, but transfers will begin no later than July 18 on all supported exchange platforms.

Of the one trillion tokens minted for distribution, 33% go to the sale, 24% to community initiatives, 20% to team allocation, and 13% to early investors. The remaining 10% will support liquidity, streaming infrastructure, and the broader ecosystem foundation.

“We’re giving thorough consideration to utility mechanisms like fee rebates, token buybacks, or other incentive-driven user promotions,” the announcement said, adding “Our plan is to kill Facebook, TikTok, and Twitch on Solana, not the traditional app store.”

GMX Perpetual Exchange Exploited For $40 Million

GMX confirmed that its V1 protocol was compromised in a targeted smart contract exploit, draining $40 million in user assets. The attacker used a re-entrancy vulnerability to mint GLP tokens repeatedly, siphoning funds including Bitcoin, Ethereum, USDC, and other tokens. As a result, GMX paused trading, minting, and redemptions on Arbitrum and Avalanche while investigating the breach.

According to developer Suhail Kakar, the attacker deceived the contract into thinking withdrawals hadn’t occurred, repeatedly extracting value from the pool. The hacker’s wallet, funded days earlier via Tornado Cash, now holds the stolen crypto, with GMX offering a 10% bounty for voluntary return. Users are awaiting clarity on refunds, while the team promises a detailed postmortem once technical audits conclude.

Story And World Partner To Verify IP Onchain

Digital ID platform World and blockchain protocol Story announced a partnership to combat IP theft using World ID tools. The integration will allow creators to verify ownership of intellectual property and control usage rights directly on the Story blockchain. World’s iris-scan-based ID system is meant to differentiate between human and AI-generated content at the point of creation.

Story President Andrea Muttoni said the system is aimed at preserving trust as AI-generated media becomes harder to distinguish from original work. The initiative is set to go live in fall 2025, giving verified users tools to license content securely onchain. World has faced bans in countries like Spain and Brazil, though it remains active in jurisdictions with more permissive data laws.

Justin Sun Commits $100M to Trump Meme Coin

Tron founder Justin Sun has pledged to buy $100 million worth of TRUMP, a meme coin backed by former President Donald Trump. He posted the news on X, calling the project a key part of crypto’s future and highlighting TRON’s growing ties to pro-Trump assets. The TRUMP token is already live on Solana and will soon expand to Tron, according to an announcement from the Tron DAO.

Sun’s connection to Trump-linked crypto projects has grown steadily since last November, when he first invested in World Liberty tokens. He later became an advisor to the project and boosted his stake from $30 million to $75 million over several months. The timing coincides with a shift in SEC policy under Trump, which has reportedly eased legal pressure on Justin Sun amid a fraud case.

Data of the Day

Kraken’s market share among USD-supported exchanges has climbed from 19% to 29% since January, according to internal metrics shared Wednesday. This gain coincides with a broader push into new product lines, including xStocks for 24/7 tokenized equity trading and Krak, a crypto-native payments tool.

Both features aim to tap demand for real-world asset access and seamless peer-to-peer payments. Kraken has maintained over $20 billion in monthly volume for five consecutive months, suggesting steady institutional and retail interest.

Kraken’s tokenization service will expand to BNB Chain, allowing non-US clients to access xStocks beyond Solana. Executives said the rollout reflects growing appetite for blockchain-native finance that merges traditional equities with composable smart contract systems.

More Breaking News

• A judge has barred Tornado Cash developer Roman Storm’s legal team from referencing the Van Loon ruling, calling it irrelevant and potentially confusing for jurors.
• Circle and OKX have launched zero-fee USDC-to-USD conversions, seeking to streamline on- and off-ramps across 12 blockchain networks while reducing infrastructure friction.
• Ripple selected BNY Mellon as custodian for its RLUSD stablecoin, citing the partnership as proof that regulatory headwinds no longer threaten Ripple’s enterprise ambitions.
• Japan-based Remixpoint raised $215 million to expand its Bitcoin holdings, aiming for 3,000 BTC after paying executives entirely in cryptocurrency to align incentives.
• New Zealand is banning crypto ATMs and capping international transfers at $5,000 in sweeping anti-money laundering reforms aimed at curbing illicit financial activity.
• Polygon will deploy its most complex hard fork, upgrading its PoS chain with Heimdall 2.0 to better finality, reliability, and upgradeability across the network.
• Monad is acquiring Portal Labs to integrate a full-stack stablecoin payment layer, with Portal’s CEO joining as Head of Payments and Stablecoins post-deal.

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