Last updated on July 27th, 2025 at 07:02 am
Hey crypto fam,
July has been an eventful month for the crypto industry as a whole, with numerous notable history-making events unfolding in the past few weeks. Week 4 wraps up with some really interesting stories we know you don’t want to miss.
Pump.fun is now facing a $5.5B lawsuit for allegedly running a memecoin casino, a Denver pastor is in hot water over a $3M token scam, and Ethereum just keeps climbing. From courtroom drama to market momentum and major DeFi breakthroughs, this week’s headlines are literally packed.
We’ve made an insightful compilation for you. Subscribe if you’re yet to, so you never miss an important story.
Pump.fun Hit with RICO Lawsuit Over Alleged $5.5B Digital Casino Scheme
Pump.fun and its affiliates are facing serious legal scrutiny following an amended class-action lawsuit filed in the Southern District of New York. The complaint accuses the memecoin launchpad of operating like an unlicensed digital casino that siphoned over $5.5 billion from users through deceptive schemes. It names pseudonymous developer Bernie, parent company Baton Corp., and key infrastructure partners including Solana Labs, the Solana Foundation, Jito Labs, and the Jito Foundation. Plaintiffs argue the platform mimicked a “rigged slot machine,” where early participants profited by dumping worthless tokens on unsuspecting investors.
The updated filing invokes the Racketeer Influenced and Corrupt Organizations Act (RICO), along with charges of fraud, conspiracy, and unjust enrichment. It claims Solana-affiliated entities facilitated the operation by providing the blockchain infrastructure while profiting from validator fees and token appreciation. Jito Labs is also accused of monetizing the scheme via MEV strategies. Plaintiffs seek to rescind Pump.fun transactions and recover damages from what they describe as a predatory, volatility-fueled ecosystem.
Other News Making Waves
- A U.S. judge has ruled that MIT-educated brothers Anton and James Peraire-Bueno must stand trial for allegedly stealing $25M in an Ethereum MEV exploit, rejecting their claim that their actions were lawful under blockchain code. (More)
- IRS testimony links Tornado Cash co-founder Roman Storm to laundering-linked crypto transactions, as prosecutors near the end of their case in his criminal trial. (More)
- The FBI has closed its investigation into Kraken founder Jesse Powell and returned seized devices, finding no wrongdoing affecting Kraken or its users. (More)
- Denver pastor Eli Regalado and his wife were indicted on 40 counts for allegedly defrauding their church community out of $3M through a worthless crypto token called INDXcoin. (More)
- Ethereum has surged over 50% this month and 150% since April, driven by growing ETP inflows and corporate treasury demand mimicking Bitcoin’s earlier institutional rally. (More)
- U.S. prosecutors are moving to seize $7.1M in crypto tied to a $97M oil and gas scam, accusing suspects of laundering funds through accounts in Russia and Nigeria. (More)
- Binance co-founder CZ hints at an incoming altcoin season as CoinMarketCap’s Altcoin Season Index signals momentum shift, with 75% of top altcoins outperforming Bitcoin. (More)
- Senator Cynthia Lummis has urged the U.S. Senate to cancel the August recess to fast-track crypto legislation, citing urgency in maintaining U.S. leadership in digital finance. (More)
- A report by Cornerstone Advisors finds over $2.15T has left U.S. community banks and credit unions, as Gen Z and millennials increasingly move funds into crypto platforms. (More)
- Peter Schiff urges investors to dump Ethereum for Bitcoin after ETH hits $3,700, calling the rally a “phony bubble.” (More)
- JPMorgan plans to offer Bitcoin- and Ethereum-backed loans in 2026, signalling a major step into crypto-based lending. (More)
- Western Union to integrate stablecoins into its global remittance system, piloting blockchain-based settlements in South America and Africa for faster, cheaper transfers. (More)
- Nearly 1% of all Ether is now permanently inaccessible due to user mistakes and smart contract bugs, totalling over 913,000 ETH worth $3.43B. (More)
- Ethereum is moving toward a major gas limit increase to 45 million units, aiming to boost transaction capacity and DApp support. (More)
- CoinDCX confirms a wallet breach but says all user funds are safe and fully covered using emergency reserves. (More)
Around the World: Bold Moves and Crypto Regulations
- Ghana’s central bank is drafting a comprehensive crypto regulatory framework to stabilize the economy and tax the country’s $3B crypto surge, with legislation expected by September 2025. (More)
- Hong Kong will enforce a new Stablecoin Ordinance from August 1, criminalizing unlicensed fiat-referenced stablecoin sales to retail investors, with fines and jail time for violators. (More)
- South Korea’s financial watchdog has directed asset managers to limit exposure to crypto-linked firms like Coinbase in ETFs, reaffirming its ban on institutional crypto investments. (More)
- The UK has proposed banning ransomware payments by public sector and critical infrastructure bodies, aiming to curb crypto-fueled cybercrime and strengthen cyber resilience. (More)
- Bank of England reconsiders launching a digital pound, shifting focus to tokenized deposits and stablecoins amid doubts over the need for a retail CBDC. (More)
Market Trends: Winners and Losers
Top 5 Gainers ????
According to data from CoinGecko, these are the five biggest gainers of the week:
- just memecoin +4103.4%, from $0.00092633 to $0.03893567
- Zora +324.5%, from $0.01116160 to $0.04739074
- Spark +183.2%, from $0.03781639 to $0.107129
- RIZE +358.7%, from $0.02049337 to $0.093979
- U +86.1%, from $0.01456094 to $0.02709490
Top 5 Losers ????
According to data from CoinGecko, the five biggest losers of the week are:
- Pump.fun –37.5%, from $0.00423535 to $0.00264687
- Launch Coin on Believe –37.1%, from $0.102909 to $0.064736
- Suilend –18.3%, from $0.588237 to $0.480355
- Nobody Sausage –41.3%, from $0.067146 to $0.03941882
- FUNToken –30.3%, from $0.01957708 to $0.01363415
Project Spotlight
Lightec Launches zkBTC Bridge to Bring Bitcoin into Cross-Chain DeFi
Lightec’s zkBTC Bridge is now live on mainnet, enabling Bitcoin holders to move BTC to Ethereum and access DeFi yields without intermediaries. The bridge uses zero-knowledge proofs to ensure secure, trustless transfers and mints zkBTC tokens pegged 1:1 to BTC. With two years of development, low fees, and DeFi protocol integration, zkBTC sets a new standard for cross-chain interoperability.
Why It Matters:
This bridge expands Bitcoin’s utility beyond store-of-value, unlocking access to Ethereum’s DeFi ecosystem while advancing zero-knowledge innovation for more secure, scalable cross-chain transactions.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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