Crypto Morning News: Pump.fun plans to raise $1 billion through token sale; Sonic to launch airdrop this month

Author: TechFlow

Yesterday's Market Dynamics

Donald Trump Jr.: TRUMP Wallet Not Affiliated with Trump Organization; WLFI to Launch Official Wallet

Donald Trump Jr., co-founder of WLFI and son of former President Donald Trump, clarified on social media that "The Trump Organization has no connection whatsoever to this wallet product (developed by Magic Eden in collaboration with the TRUMP Meme project). Eric Trump and I were completely unaware of it. Stay tuned—World Liberty Financial, which we’ve been actively building, will soon launch our official wallet."

Earlier, the TRUMP wallet’s official website stated that it was a collaborative effort between Magic Eden and the TRUMP Meme team to develop a TRUMP-branded cryptocurrency wallet.

CoinShares Meets SEC Crypto Task Force to Discuss Digital Asset Regulation

According to an official announcement, CoinShares International Limited, Europe’s largest digital asset investment firm, met with the SEC’s crypto task force alongside legal representatives from Chapman & Cutler LLP to discuss regulatory frameworks for digital assets. CoinShares, which manages over $6 billion in assets, shared its experience operating ETPs in both Europe and the U.S., and proposed recommendations on five key issues:

1. Incorporating staking rewards into digital asset ETPs

2. Revising the “Winklevoss standard” used to evaluate digital asset ETP applications

3. Solutions for custody of crypto assets

4. Physical creation and redemption mechanisms

5. Relaxing restrictions on registered investment companies investing in digital assets, including revoking the 2018 Blass letter

CoinShares expressed willingness to contribute its global perspective to help the SEC build a regulatory environment that fosters innovation while protecting investors.

Standard Chartered: Current Corporate Bitcoin Buying Surge Increases Demand but Also Poses Future Sell-Off Risks

According to CoinDesk, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, warned that 61 publicly listed companies currently hold 673,800 bitcoins (3.2% of total supply), and if BTC prices fall 22% below their average purchase price, forced corporate sell-offs could follow.

The report notes that Strategy (MSTR) holds 580,000 BTC—by far the largest share. Drawing parallels to Core Scientific, a Bitcoin miner that sold 7,202 BTC in 2022 after prices dropped 22% below production cost, the bank warns that if Bitcoin falls below $90,000, half of these corporate holdings would be underwater. While current corporate accumulation is boosting demand, it also creates latent sell-side pressure.

Ethereum Co-Founder in Talks with Sovereign Wealth Fund of a Major Country

As reported by Decrypt, Joe Lubin, CEO of Consensys and Ethereum co-founder, revealed that his company is in discussions with a sovereign wealth fund and a major bank from a "large nation" about building infrastructure within the Ethereum ecosystem. Lubin predicts Ethereum is entering a decentralized supercycle and could become the backbone of a new global financial system. Last week, Consensys, led by Lubin, invested in SharpLink Gaming, helping it raise $425 million into an Ethereum-based treasury, sending its stock price up over 400%. Meanwhile, fellow Ethereum co-founder Vitalik Buterin said Ethereum’s blockchain capacity could increase tenfold within the next year. Lubin called Ethereum the “gold standard of trust” and suggested its long-term value may surpass Bitcoin’s.

Trump’s Social Media Platform Truth Social Files for Bitcoin ETF

According to The Block, Truth Social, the social media platform owned by Donald Trump, has filed an application with the U.S. Securities and Exchange Commission (SEC) for a Bitcoin ETF. The NYSE Arca division submitted a Form 19b-4 on June 3. The ETF aims to track the performance of Bitcoin and is sponsored by Yorkville America Digital, an asset management firm under the “America First” banner.

Pump.fun Plans $1 Billion Raise at $4 Billion Valuation

Per Blockworks, Pump.fun, a memecoin creation platform on the Solana ecosystem, plans to raise $1 billion through a token sale at a $4 billion valuation. The token will be offered to both public and private investors, though the exact timing and venue have not yet been confirmed.

Sonic: Airdrop Launch This Month, Totaling 190.5 Million S Tokens, with 25% Available Immediately

According to official announcements, the first-phase Sonic ($S) airdrop will distribute a total of 190.5 million S tokens to incentivize user and developer participation in its ecosystem. Rewards will go to participants in Opera’s historical campaigns, Sonic Arcade users, and Shard NFT minters.

The first batch of airdrops will unlock six months after Sonic’s mainnet launch (around June 2025), allowing users to claim 25% immediately. The remaining 75% will be linearly released via NFT over 270 days. Early withdrawal of locked tokens will incur a penalty fee paid in token burns, with the burn rate decreasing over time.

Sky Introduces Stablecoin Incentives for SKY Token Staking, Offering 17.48% APY

According to an official announcement, Sky (formerly Maker) has launched stablecoin incentives for SKY token staking, with rewards distributed in USDS. The current annual percentage yield (APY) for SKY staking stands at 17.48%.

Ethereum Interoperability Protocol Polymer Hints at TGE on June 10

Ethereum interoperability protocol Polymer Labs tweeted “something is coming” and posted an image with a specific date—June 10—hinting at an upcoming token generation event (TGE).

Prior reports indicate Polymer Labs raised $23 million in Series A funding, led by Blockchain Capital.

Binance Alpha to List Lagrange (LA) on June 4

According to an official announcement, Binance Alpha will list Lagrange (LA), with trading set to open on June 4. The exact time will be announced later. Eligible users must claim the airdrop using Binance Alpha Points on the Alpha campaign page, which will go live on June 4 along with full details.

Metaplanet Stock Ranks #1 in Both Trading Volume and Value on Japanese Stock Exchange

Simon Gerovich, CEO of Japanese-listed company Metaplanet, announced on social media that Metaplanet became the top stock in Japan by both trading value and volume for the first time. Key metrics include:

Trading value reached 222 billion JPY (approximately $1.51 billion); shares traded totaled 170 million.

Market Data

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