🍰 Pump.fun Wants the Whole Pie Now

Hi! In today’s edition:

• 🔥 Pump. fun swaps Raydium for own DEX

• ⚡ SEC won’t regulate PoW mining 

• 🕵️ Hyperliquid whale unmasked

• 🏦 DTCC bigs up permissioned securities

It’s never been easier to get rewarded in crypto!

We’re inviting you to try RockWallet, a multi-currency wallet that’s easy, quick, and secure. New accounts that make $50 purchases of a supported coin can earn up to $250 in LTC.

Sign up and set up your RockWallet today!

Pump.fun Ditches Raydium for Its Own DEX

Solana memecoin launchpad Pump.fun has launched its own native decentralized exchange, eliminating the need for tokens to migrate to Raydium for secondary trading after completing their bonding curve.

Revealing the name of the new DEX, Pump.fun said on X: “Beginning NOW all coins that complete their bonding curve will migrate directly to PumpSwap.”

PumpSwap will come with zero migration fees, down from 6 SOL, and a 0.25% trading fee, with 0.2% allocated to liquidity providers and 0.05% to the protocol.

Down the line, PumpSwap plans to introduce creator revenue sharing, allowing a percentage of protocol revenue to be shared with coin creators.

Raydium, the largest Solana DEX, owes much of its monthly revenue to tokens that migrate from Pump.fun, which accounted for 41% of Raydium's swap fee revenue last month alone, according to Blockworks Research.

However, Raydium also appears to be gearing up to launch its own version of Pump.fun, a platform named LaunchLab.

“If pump fun’s [sic] AMM [automated market maker] underperforms, LaunchLab could pull users back to Raydium’s infra,” saidArif Kazi, head of business development at gaming platform Sonic SVM. “Now that would be a plot twist.”

SEC Says PoW Mining Is Not Securities Trading

The U.S. Securities and Exchange Commission has clarified its stance on proof-of-work crypto mining, saying it does not constitute securities trading under U.S. law.

In a statement released on Thursday, the SEC's Division of Corporation Finance stated that mining activities do not involve the offer and sale of securities as defined by the Securities Act of 1933 and the Securities Exchange Act of 1934.

The regulator acknowledged that mining activities are integral to network functionality and not dependent on the managerial efforts of third parties, a key factor in determining whether an asset qualifies as a security under the Howey Test, a legal framework outlined by the U.S. Supreme Court to determine whether a transaction qualifies as an investment contract and should be regulated.

The SEC’s decision on the matter applies to major PoW networks such as Bitcoin, Dogecoin, and Litecoin, which rely on mining as their consensus mechanism.

ZachXBT Identifies Infamous Hyperliquid Whale 

Blockchain sleuth ZachXBT has traced the digital trail of the mysterious Hyperliquid whale that has featured in multiple news reports over the past few weeks for massive leveraged bets on BTC and ETH.

All signs point to a UK-based individual named William Parker as the person behind the account, based on ZachXBT’s evidence.

“Last year [William Parker] was arrested for stealing ~$1M from two casinos in 2023 and was sentenced in Finland,” ZachXBT said.

“Prior to this WP was known as Alistair Packover (William Peckover) before later changing his name.”

The whale profited to the tune of at least $20 million through a combination of highly leveraged trades on Hyperliquid and GMX platforms between January and March.

DTCC Endorses ERC-3643 Token Standard

The Depository Trust & Clearing Corporation, the primary clearing house for U.S. securities transactions, has announced a commitment to promoting permissioned securities tokens.

ERC-3643, also known as the T-REX Protocol, is an open-source suite of smart contracts that enables the issuance, management, and transfer of permissioned tokens on permissionless blockchains.

It uses a custom-built decentralized identity protocol to ensure that only users meeting predetermined conditions can become token holders.

Unlike traditional ERC-20 tokens, ERC-3643 tokens are permissioned, meaning that their issuance and transfer are subject to predefined compliance rules enforced through smart contracts.

The DTCC’s endorsement suggests that the Ethereum blockchain may play a significant role in the U.S.’s permissioned security token ecosystem.

Mantle is building the largest sustainable hub for on-chain finance. Launching three new core innovation pillars: Enhanced Index Fund, Mantle Banking and MantleX. 

• 🤑 BlackRock’s digital assets head emphasized the potential of staking for Ethereum ETFs to boost investor interest on Thursday, while NYSE Arca filed to allow Bitwise’s ether ETF to earn staking yield, following similar proposals from Grayscale, 21Shares, and Fidelity.

• 🗳️ U.S. Securities and Exchange chair nominee Paul Atkins and Comptroller of the Currency nominee Jonathan Gould will appear before the Senate Banking Committee on March 27, with Atkins expected to continue the agency’s pro-crypto momentum under the Trump administration.

• 🇺🇸 At this week’s Digital Asset Summit in New York, U.S. President Donald Trump reaffirmed his push for crypto-friendly legislation, calling on Congress to establish clear rules for stablecoins and market structures while emphasizing that dollar-backed stablecoins could strengthen U.S. financial dominance.

• ⚡ The U.S. Office of the Comptroller of the Currency on Thursday removed “reputational risk” from bank examinations, responding to concerns that regulators had used the metric to pressure banks into distancing themselves from crypto firms, a move aligning with the broader shift toward easing restrictions on digital assets.

• 📈 Japanese investment firm Metaplanet said on Thursday that it had appointed Eric Trump to its newly formed strategic advisory board as it ramps up Bitcoin adoption, following its recent purchase of 150 BTC and its goal to accumulate 10,000 BTC by the end of the year.

• 🐧 Canary Capital filed with the SEC for the first-ever Pengu ETF, aiming to create a fund that holds Pudgy Penguins NFTs alongside PENGU tokens and other cryptocurrencies such as ETH and SOL.

• 🔄 Kraken announced on Thursday that it had agreed to acquire retail futures trading platform NinjaTrader for $1.5 billion, the largest crypto-TradFi deal to date, as it aims to expand into equities, derivatives, and 24/7 multi-asset trading.

• 💾 Data storage protocol the Walrus Foundation secured $140 million of funding led by Standard Crypto, with backing from a16z, Electric Capital, and Franklin Templeton, to advance the development of its Sui-based decentralized platform, which is set to launch on its mainnet on March 27.

• 📲 Venture capital giants including Sequoia, Ribbit, and Benchmark have collectively bought more than $400 million of Toncoin, betting on the blockchain’s growing integration with Telegram’s ecosystem, which now boasts over 40 million active users.

• 🏦 Decentralized crypto on- and off-ramp platform MoonPay secured a $200 million credit line from Galaxy to ensure liquidity during high-demand events such as the recent Trump memecoin launch after previously struggling with funds locked due to traditional banking hours.

1. X user “Shiva” on the differences between Base, MegaETH and Solana 

2. CoinDesk: Polymarket is 90% Accurate in Predicting World Events: Research

3. New York Times: Sound Engineer for Eminem Stole and Sold His Songs for Bitcoin, U.S. Says