The SEC has issued a statement clarifying that mining and mining pool activities under the Proof-of-Work (PoW) mechanism do not constitute securities offerings. The agency stated that Protocol Mining on PoW networks involves only the contribution of computational resources, rather than reliance on the entrepreneurial or managerial efforts of others. As a result, PoW mining does not meet the Howey Test definition of an investment contract and falls outside the scope of securities regulation.
Investors have significantly reduced their exposure to U.S. equities, with allocations to U.S. stocks dropping to 23% underweight, the lowest level since June 2023, amid worsening global growth expectations.
Meanwhile, European stocks have outperformed the U.S., with 39% of global investors now overweight on European equities, the highest level since mid-2021.
Prime Intellect has raised $15 million in a funding round led by Founders Fund, with participation from Menlo Ventures and several angel investors. This funding brings Prime Intellect's total raised capital to $20.5 million.
The startup is developing a peer-to-peer protocol for computing and artificial intelligence, aiming to enable collective creation, shared ownership, and access to sovereign, open-source #AI systems.
BREAKING: Solana continues to dominate the decentralized exchange (DEX) landscape, leading all blockchains in monthly trading volume for the fifth month in a row.
1. A whale made a profit of $11.82 million on its first #TRUMP trade, then suffered a loss of $24.35 million on the second, followed by another loss of $201k on the third. Now, the whale is back, spending $11.28 million to purchase 777,684 TRUMP at $14.50 each.
2. The whale sold all of its #PEPE and #BEAM holdings for $6.25 million in #DAI, incurring a total loss of $14.14 million. It then used the DAI to buy 5.34 million #ONDO at an average price of $1.17.
3. Amber Group purchased 11,000 #ETH for $27.49 million.
Following the announcement of its inclusion in the U.S. crypto reserve, Cardano's ADA experienced a significant surge of approximately 70%, reaching $1.11. This impressive performance allowed it to surpass DOGE and TRON, securing the 8th position in terms of market capitalization.
🚨 UPDATE: Bitcoin's dominance drops from 55.4% to below 50% in the hours following Trump's initial announcement of a Crypto Strategic Reserve that includes $XRP, $SOL, and $ADA.
Arthur Hayes points out that statements about a strategic cryptocurrency reserve are merely words unless approved by Congress. Without such approval, the necessary funds to purchase cryptocurrencies and establish such a reserve are not available.
On the other hand, Eric Trump reacts to the announcement of this strategic reserve, made on a Sunday when traditional markets were closed. He sees it as an opportunity for retail investors to gain an edge, emphasizing that traditional finance must quickly adapt to this new landscape, where markets no longer operate solely from Monday to Friday, 9 to 5. According to him, the world is evolving, and those who fail to keep up risk being left behind.
Justin Sun, the founder of Tron, has voiced strong support for the President's cryptocurrency strategy. He emphasized that Tron will stand as a loyal ally and fully back this initiative. 🇺🇸🗣 #TRX #Crypto
BREAKING: 🇺🇸 President Trump announces the creation of a "US Crypto Reserve," claiming it will boost the cryptocurrency sector after what he describes as "years of damaging actions by the Biden Administration."
Pumpfun is developing its own automatic market maker (AMM), potentially enabling meme tokens to migrate from Raydium to its liquidity pool either to extract more fees or implement token holder rewards.