Market Overview
Recent data shows that over 80% of tokens listed on Binance have experienced a decrease in value since their initial listing. However, certain tokens like MEME, ORDI, and JUP have seen an increase in their value.
Pump.fun Exploit
A former employee of pump.fun allegedly exploited the system, resulting in a $1.9 million loss. Trading on pump.fun has been temporarily suspended while authorities investigate the matter.
US Senate Resolution on SEC Rule
The US Senate has passed a resolution urging the SEC to reverse a rule that affects financial institutions working with digital asset firms. This rule requires banks to include customers’ crypto balances in their financial statements. Despite the resolution passing, President Biden has indicated he may veto it.
Conclusion
The crypto market is continually changing, with events like Binance token performance, pump.fun’s security breach, and significant legislative actions in the US shaping the industry’s landscape.