NEWS
Vitalik Buterin Criticizes Pump.fun and Centralized Crypto Failures, Emphasizes Ethics in Blockchain Development
Ethereum co-founder Vitalik Buterin has publicly criticized crypto projects like Pump.fun, arguing that such platforms stem from flawed social philosophies. In a recent statement, Buterin emphasized that the direction of blockchain applications is often a reflection of the developers’ values and intentions. According to him, the long-term impact—whether positive or negative—of blockchain projects hinges largely on the ethical framework and vision of their creators.Commends Ethically Aligned ProjectsButerin praised several projects that he believes align with Ethereum’s long-term mission, including:Railgun: A privacy-focused protocol allowing users to prove their funds are not from illicit sources while maintaining anonymity through advanced Privacy Pools, a concept Buterin co-developed.Farcaster: A decentralized social networking protocol.Polymarket: A crypto-based prediction market platform that Buterin has previously said could enhance decision-making across various sectors.Signal: A secure messaging app known for its privacy-first design.These platforms, Buterin noted, demonstrate how values-driven development can lead to meaningful innovation in decentralized technology.Warns Against Misaligned ApplicationsIn contrast, Buterin cited Pump.fun, the failed Terra/Luna ecosystem, and the collapsed exchange FTX as cautionary tales. He argued that these projects represent the type of crypto development the industry should avoid, as they prioritize hype or centralized control over sustainable and ethical design.Buterin further warned that developers disinterested in decentralization would likely ignore critical features like light clients or account abstraction, both of which are central to Ethereum’s decentralization ethos. He stressed that roughly 80% of Ethereum applications are designed for specialized purposes, and that the ethical choices made by their developers fundamentally shape the network’s architecture.Vitalik Buterin’s remarks serve as a pointed reminder that the ethical and philosophical grounding of developers plays a pivotal role in determining whether blockchain applications advance meaningful innovation or fall into exploitative patterns. His vision continues to frame Ethereum not just as a technical platform, but as a social experiment rooted in open values and decentralization.
14 days ago
3632
Japan’s Metaplanet Repays $13.5M Bond Early as Bitcoin Accumulation Strategy Continues
Tokyo-listed firm Metaplanet announced on July 7 that it has fully repaid a $13.5 million bond five months ahead of its scheduled maturity. The bond, originally due on September 17, 2025, was repaid in full as part of the company’s ongoing Bitcoin-focused treasury strategy.The repaid instrument was a zero-coupon bond issued through Metaplanet’s Evo Fund in March. Proceeds from the bond had been used to purchase additional Bitcoin (BTC), with an average acquisition price of approximately $78,509. The buy-in aligned with Metaplanet’s strategic goal to hold 21,000 BTC by 2026.Leading Bitcoin Holder Among Asian Public CompaniesSince adopting Bitcoin as a core treasury asset, Metaplanet has steadily increased its holdings. As of now, the company owns 4,206 BTC, making it one of the largest Bitcoin-holding public companies in Asia.CEO Reaffirms Confidence Despite Market VolatilityOn the same day, Metaplanet also addressed the recent sharp downturn in Bitcoin’s price, largely attributed to U.S. President Donald Trump’s new tariff escalation policy. Despite the volatility, CEO Simon Gerovich took to social media platform X (formerly Twitter) to express continued confidence in Bitcoin.“Price drops can be unsettling,” Gerovich wrote, “but these are the moments that truly test our belief in Bitcoin.”The company's early bond repayment and public show of conviction underscore its long-term commitment to Bitcoin accumulation—a rare stance among listed firms in traditional financial markets.
20 days ago2031
Trump Confirms April 2 Reciprocal Tariffs Will Apply to "All Countries"
U.S. President Donald Trump has announced that the reciprocal tariffs set to take effect on April 2 will be imposed universally, rejecting speculation that the policy would initially target a limited group of countries.According to a live Fox News broadcast on March 30 (local time), President Trump addressed reporters aboard Air Force One, denying reports that tariffs would be selectively imposed on 10 to 15 nations. “No,” he said, “it’s going to start with all countries.”“There are many countries,” Trump added. “I’ve never heard anything about 10 or 15 specific countries.” His remarks strongly suggest the administration’s tariff policy will not follow a phased or targeted rollout, but instead apply broadly and uniformly.When asked again whether all countries would be affected, Trump responded, “Essentially all of the countries that we’re talking about.”Targeted Remarks on AsiaDuring the exchange, Trump singled out Asia for specific criticism. “Look at history and what’s happened to us,” he said. “Look at all the countries in Asia and what they’ve done to us.”While acknowledging longstanding military and trade relationships in the region, Trump emphasized that the U.S. would treat these countries “far more generously than they treated us.”ImplicationsTrump’s remarks indicate a sweeping approach to trade policy that could escalate global tensions, particularly with major trading partners in Asia. As the April 2 deadline approaches, markets, diplomats, and trade analysts are closely monitoring developments and awaiting further clarification on implementation and scope.
28 days ago2790
China’s Push for Digital Yuan Expansion Amid U.S. Stablecoin Advancements
Zhang Ming, Deputy Director of the China Financial Development Bureau, has called for expanding the scope of the digital yuan to counter the U.S.’s growing influence in the digital currency space. His remarks are seen as a response to former U.S. President Donald Trump’s recent advocacy for stablecoin legislation to strengthen the dollar’s dominance.Expanding Digital Yuan from M0 to M2In an opinion piece published in China’s state-run media, Xuexi Shibao (Study Times), Zhang warned that U.S. dollar-backed stablecoins could dominate the digital currency landscape and further entrench the dollar’s global supremacy. To address this risk, he proposed broadening the digital yuan’s scope from cash (M0) to demand deposits (M1) and even to all deposits (M2).By extending its reach beyond basic cash usage, Zhang argued that the digital yuan could foster more practical use cases, enhance domestic and cross-border adoption, and accelerate the internationalization of the yuan.Developing China’s Own StablecoinsZhang further recommended that China develop its own stablecoins and increase the use of digital tokens on domestic internet platforms. Such efforts, he explained, could serve as a counterbalance to the dominance of U.S. dollar-backed stablecoins while simultaneously advancing China’s financial technology capabilities.This push reflects China’s broader strategy to reduce reliance on the U.S. dollar and position itself as a global leader in the digital currency race. As competition intensifies between the U.S. and China in the financial technology sector, the digital yuan’s evolution is likely to play a pivotal role in reshaping the international monetary system.
1 month ago2563
President Trump Advocates for Stablecoin Legislation to Bolster U.S. Crypto Leadership
President Donald Trump delivered a keynote speech at the Blockworks Digital Asset Summit in New York, urging Congress to pass legislation on stablecoin regulation. His remarks highlight the administration's evolving stance toward fostering innovation in the cryptocurrency sector while reinforcing U.S. global financial dominance.Stablecoin Regulation as a Key to Financial System InnovationTrump’s speech marks a historic moment, as he became the first sitting U.S. president to address a major cryptocurrency conference. During the event, he stressed that stablecoins could strengthen the U.S. financial system and help maintain the dollar’s global hegemony.“The passage of clear and common-sense rules for stablecoins and market structures is essential,” Trump stated, calling on Congress to accelerate legislative efforts. He emphasized that regulatory clarity would encourage broader institutional participation, creating an environment where “large institutions and small businesses alike can invest and innovate freely.”Trump’s Vision: America as a Crypto SuperpowerTrump underscored his commitment to establishing the United States as the global leader in cryptocurrency innovation. He declared, “We will make America the undisputed Bitcoin superpower and the world’s top crypto hub.”The Trump administration is signaling a departure from the stricter regulatory policies under the Biden administration, instead embracing a more crypto-friendly approach.As Congress debates stablecoin legislation, industry leaders and analysts are closely watching how the proposed laws might reshape the broader cryptocurrency landscape. Given the U.S.’s outsized influence in global financial markets, any regulatory shifts are likely to have far-reaching consequences for the international crypto sector.
1 month ago3313
Raydium Launches ‘LaunchLab’ to Counter Pump.fun’s AMM Expansion
Solana-based decentralized exchange (DEX) and automated market maker (AMM) Raydium (RAY) has announced the launch of a new token launchpad, LaunchLab. This move comes less than a month after Pump.fun, a popular Solana-based memecoin launchpad, revealed its plans to develop its own AMM.LaunchLab: A Competitive Yet Alternative ApproachLaunchLab adopts a model similar to Pump.fun, utilizing linear, exponential, and logarithmic curves to adjust token demand and pricing dynamically. It also introduces a feature allowing third-party user interfaces (UI) to set custom fees, enhancing flexibility for users.Raydium’s Response to Revenue Loss ConcernsPump.fun currently operates by depositing a portion of liquidity into Raydium pools for tokens that exceed a $69,000 market cap, before burning the remainder. According to Blockworks Research, memecoins from Pump.fun accounted for 41% of Raydium’s swap fee revenue over the past 30 days. However, with Pump.fun shifting its liquidity to its own AMM, Raydium’s revenue could take a significant hit. This concern contributed to a 25% drop in RAY’s price in February.Despite this, Raydium remains well-positioned, with $168 million in total assets. Although rumors of Pump.fun’s AMM development had circulated within the Solana community before its official announcement, Raydium stated that LaunchLab had already been in development as a proactive response.Focusing on Alternatives Rather than Direct CompetitionRaydium’s core contributor, known as Infra, emphasized that LaunchLab was developed months ago but was put on hold to avoid being perceived as a direct competitor to Pump.fun. However, after Pump.fun announced its AMM plans, Raydium decided to proceed with LaunchLab as an alternative solution.Infra stated, “Pump.fun was able to find product-market fit largely due to Raydium’s infrastructure. LaunchLab is not meant to replace Pump.fun, but to serve teams that struggle to build their own programs and cater to users who prefer Raydium’s AMM v4.”Key Features of LaunchLabLaunchLab aims to safeguard token issuers’ swap fees and provide additional functionalities, includingSupport for multiple quote tokens beyond SOLIntegration of a Liquidity Provider LockerInfra further highlighted that LaunchLab is just the first step in Raydium’s broader suite of token creation tools, positioning itself as a long-term player in Solana’s evolving DeFi ecosystem.
1 month ago1089
Potential Risks of a U.S. Ban on Foreign-Issued Stablecoins
The potential prohibition of foreign-issued stablecoins, such as Tether (USDT), in the United States has raised concerns regarding its broader economic and geopolitical implications. Critics argue that such a policy could undermine the global dominance of the U.S. dollar, reduce dollar liquidity, and contribute to domestic inflationary pressures.Economic and Financial ImplicationsTom Howard, Head of Financial Products and Policy at CoinList, warns that banning foreign stablecoins could be a critical misstep. He emphasizes that restricting access to widely used stablecoins like USDT may accelerate the outflow of dollars from international markets, thereby reducing global dollar demand. This could, in turn, weaken the dollar’s status as the world’s reserve currency.Foreign-issued stablecoins play a crucial role in global finance, particularly in emerging markets across Asia, Africa, and Latin America, where access to traditional U.S. banking infrastructure is limited. Market participants often perceive U.S. bank-issued stablecoins as more susceptible to regulatory control, leading to a growing preference for non-U.S. alternatives.Additionally, limiting foreign stablecoin circulation in the U.S. could force major issuers like Tether to divest their U.S. Treasury holdings, potentially impacting demand for U.S. government debt.Geopolitical ConsiderationsA legislative ban on foreign stablecoins could create unintended geopolitical consequences. If the U.S. restricts the use of USDT and similar assets, it may open the door for alternative financial systems—particularly those championed by China—to fill the void. Beijing has already been advancing strategies to reduce reliance on the U.S. dollar through initiatives such as the digital yuan and expanded trade agreements using non-dollar settlements.Moreover, severing the link between foreign stablecoins and the U.S. financial system could prompt other nations to develop alternative reserve assets, thereby accelerating de-dollarization trends.A More Balanced Regulatory ApproachRather than an outright prohibition, policymakers could consider a regulatory framework that allows foreign-issued stablecoins to operate under specific compliance standards. A well-calibrated approach could help maintain global confidence in the dollar while ensuring stability within the crypto market. Such measures would enable the U.S. to retain influence over digital asset markets without stifling innovation or pushing international players toward alternative financial ecosystems.In conclusion, while regulatory oversight of stablecoins is necessary, an outright ban on foreign-issued stablecoins could have far-reaching economic, financial, and geopolitical consequences. A strategic, risk-based approach to regulation would better serve U.S. interests by preserving dollar hegemony while accommodating financial innovation.
1 month ago1250
SEC Delays Decision on Grayscale's XRP ETF Proposal
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale’s proposal to launch an XRP exchange-traded fund (ETF). The regulator announced that it would extend the review period for the rule change request submitted by NYSE Arca in January.Background & SEC’s JustificationGrayscale’s XRP Trust aims to track the market price of XRP, the fourth-largest cryptocurrency by market cap. If approved, the ETF would be listed on a major exchange.The SEC stated that it needed more time to thoroughly review the proposed rule change and amendments, as well as to evaluate raised concerns. The agency is initially required to decide within 45 days of receiving the application but can extend the review for up to 90 days if necessary.As a result, the approval timeline for Grayscale’s XRP ETF is likely to be delayed beyond initial expectations.
1 month ago2064