Pump.fun Eyes $1B Token Sale

Plus, 🤞 Truth Social files for Bitcoin ETF, 🏛️ SEC clashes with House Dems, 🪂 Sonic opens major airdrop to U.S. users, and more!

Author

Juan Aranovich
June 04, 2025

Hi! In today’s edition:

  • 🚀 Pump.fun eyes $1B sale

  • 🇺🇸 Trump’s social seeks bitcoin ETF

  • 🔎 SEC targeted over “selective” disclosure

  • 🎯 Sonic airdrop to include U.S. holders

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By Tikta

Pump.fun Mulls $1B Token Sale

Solana-based memecoin launch platform Pump.fun is reportedly preparing to raise $1 billion through a token sale, targeting a $4 billion fully diluted valuation for its new token. 

The token sale is expected to include allocations for both public and private investors, and would be one of the largest token sales in crypto to date.

Although the timing of when the proposed token will go live remains unknown, a pseudonymous X user @nextfckingthing said the PUMP token would launch within the next two weeks, with an airdrop for users also confirmed.

The X user, who claimed to have consulted with a source close to the team, said Pump.fun was considering unlocking a 10% airdrop to the community a month after the token generation event.

Pump.fun launched early last year and quickly became a pre-eminent force in the Solana ecosystem, enabling users to create tokens instantly and with minimal technical barriers. It has facilitated the launch of nearly 11 million tokens and generated more than $700 million in fees since its debut.

Trump-Linked Yorkville America Files for Truth Social Bitcoin ETF

Yorkville America Digital, an asset manager that partnered with Trump Media & Technology Group in April, has applied to the U.S. Securities and Exchange Commission to list a spot bitcoin exchange-traded fund branded with President Donald Trump’s Truth Social platform.

The application for the Truth Social Bitcoin ETF was submitted by NYSE Arca on behalf of Yorkville America Digital.

The ETF will track the price of bitcoin, with assets held in custody by Foris DAX Trust Co., a firm with links to Crypto.com.

Trump Media confirmed last week that it plans to raise $2.5 billion for a bitcoin treasury as it expands its efforts to integrate digital assets into its financial strategy.

NFT marketplace Magic Eden also announced the launch of a Trump-branded crypto wallet on Tuesday. Trump’s sons quickly denied any involvement with the project.

Democrats Accuse SEC of Withholding Key Crypto Bill Info

House Democrats have publicly accused the U.S. Securities and Exchange Commission of withholding crucial technical analysis and written feedback on the CLARITY Act, a major crypto market structure bill currently that is under consideration.

During a recent press briefing, Democratic party staff reportedly said SEC representatives had been unable to answer basic questions about the bill, and that they had cited privilege as a reason for withholding information, despite having shared details of the legislation with Republicans.

Staffers described the call as “the worst technical assistance briefing” they had experienced, with SEC officials allegedly failing to read questions submitted in advance and lacking subject matter expertise.

The dispute comes amid broader partisan tensions over crypto regulation, with most Republicans and some pro-crypto Democrats supporting the CLARITY Act, but others, such as California Rep. Maxine Waters, opposing it due to concerns over regulatory gaps and President Donald Trump’s personal crypto interests.

Sonic Labs Opens S Token Airdrop to U.S. Residents

Ethereum virtual machine blockchain Sonic Labs has officially made all seasons of its almost 200 million-token S airdrop available to U.S. residents, making it one of the first major crypto projects to include U.S. users in such a large-scale distribution.

The total airdrop allocation is 190,500,000 S tokens, distributed to incentivize users and developers in the Sonic ecosystem.

The airdrop is structured around a points system in which users qualify to earn Sonic Points and Sonic Gems by holding or using whitelisted assets and using supported DeFi apps on the Sonic blockchain.

Assets must be held in non-custodial wallets, and assets on centralized exchanges are not eligible for the airdrop.

Sonic Labs evolved from the Fantom network, rebranding and launching in 2024 to deliver major technical improvements that couldn’t be achieved through a simple upgrade of Fantom.

Bits + Bips: How Bitcoin Treasuries Are and Aren't Like the SPAC Bubble

A distressed crypto fund, global supply chain shocks, and a treasury craze that might just pop … The Bits + Bips crew breaks it down.

The Bitcoin Conference in Vegas is getting more political. Crypto treasury companies are exploding across the globe. And macro markets are flashing mixed signals, with geopolitics entering the chat.

In this episode of Bits + Bips, the panel dives into:

  • Key takeaways from Bitcoin 2025

  • The possible bubble forming around Bitcoin treasuries

  • How the SEC is fighting back against staking in ETFs

  • Whether Ethereum is finally catching up

  • How Ukraine just redefined trade risks

  • Why ETFs have seen so much inflows since the market bottom

  • How AI will impact growth and the job market

  • And … why James hates Las Vegas 😀

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.

Jeff Park Says the 60/40 Portfolio May Be Dead. Here’s His Radical Fix

What if the entire financial system is mispriced, and Bitcoin is the answer? Jeff Park says the old playbook is over. Here’s what he says comes next.

Jeff Park thinks the most popular investing strategy of the last decades — the 60/40 portfolio — is dead.

Jeff has spent his early career inside the traditional system. But now, after two years in finance, he’s calling for a full rethink of the modern portfolio: from what counts as “safe” to how inflation actually works to why Bitcoin may be the real anchor asset in a world that’s spinning off its axis.

In this episode, the first in a two-part series, he and Laura dig into:

  • Why the 60/40 portfolio is quietly failing

  • What the rise of “resistance” assets says about trust in institutions

  • Why STRK and BTC are the distillation of Jeff’s radical portfolio

  • How traditional finance may be more correlated to crypto than you think

  • Why “time is liquid energy” and bitcoin is so valuable

Listen to the episode on Apple Podcasts, Spotify,Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.

  • 🧢 The Trump Organization denies any connection to Magic Eden’s TRUMP Wallet project, despite promotional claims, while the NFT marketplace’s CEO and a memecoin-linked X account continued to endorse the crypto app, which lacks technical details but features a waitlist.

  • ❌ Ripple CEO Brad Garlinghouse on Tuesday rejected reports of a $4-$5 billion bid for Circle, clarifying during a live event that no acquisition attempt had occurred, despite speculation and Circle’s ongoing plans to go public at a $7.2 billion valuation.

  • 🎙️ Brian Quintenz, a16z crypto’s global policy head and a former U.S. Commodity Futures Trading Commission member, will face Senate questioning on June 10 following his nomination by Trump to lead the agency, amid a mass leadership reshuffle and an increased focus on crypto oversight.

  • 🇰🇷 South Korea on Wednesday elected Lee Jae-myung as president, with 49.42% of the vote, marking a shift toward pro-crypto policies, including legalizing spot crypto exchange-traded funds, creating a won-pegged stablecoin market, and completing new digital asset legislation.

  • 🧑‍⚖️ New U.S. Securities and Exchange Commission Chair Paul Atkins on Tuesday pledged to replace enforcement-driven crypto policy with a transparent rulemaking process, while lawmakers pushed the CLARITY Act to limit the SEC’s crypto authority and exempt many digital assets from securities laws.