In crypto news, the memecoin launch platform Pump.fun successfully raised $500 million in its initial coin offering (ICO) on Saturday, showcasing significant investor enthusiasm. The ICO resulted in rapid sales of the PUMP token, particularly appealing to both institutional and retail investors. This event signals a revitalization in capital formation strategies reminiscent of the peak activity in 2018. Simultaneously, the bankruptcy administrator for BlockFi has settled a $35 million lawsuit with the U.S. Department of Justice over the transfer of crypto assets related to fraud charges against two Estonian citizens. The settlement confirms the court's approval to dismiss the lawsuit, allowing BlockFi to move forward without further jurisdictional disputes. On a positive note for the market, U.S.-based spot Bitcoin ETFs recorded over $1 billion in inflows for two consecutive days, marking a significant trend since their launch in January 2024. Such inflows reflect growing institutional interest in Bitcoin investments.

Source 🔗