White House crypto report due July 30 may include Bitcoin reserve details, national security plans, and crypto regulatory proposals. The post White House to release crypto report July 30 with potential Bitcoin reserve disclosures appeared first on Crypto Briefing.

White House to release crypto report July 30 with potential Bitcoin reserve disclosures

Solana-based memecoin launchpad Pump.fun has made the headlines again after 
its recently launched token, PUMP, plummeted to new lows. The nosedive follows 
a recent update on the token’s highly anticipated airdrop and its legal 
troubles. Related Reading: Dogecoin Retests Crucial Support Following 8.6% 
Drop – Here Are The Levels To Watch PUMP Token Loses $1 Billion MC Just over a 
week after launch, Pump.fun’s official token has hit a new all-time low (ATL), 
reaching the $0.0028 area and dropping below the $1 billion market 
capitalization for the first time since its initial Coin Offering (ICO). 
Pump.fun was launched in January 2024 to facilitate and simplify the 
deployment of tokens. The Solana-based platform quickly became the leading 
memecoin launchpad in the crypto market, fueling this cycle’s memecoin frenzy. 
According to Dune data, the launchpad has deployed nearly 12 million tokens 
over the last 18 months and generated a Total Revenue of over $775 million. 
After announcing its official token in early June, the platform’s PUMP rollout 
had a bumpy road, as its official X account was suspended mid-month. The 
token’s public sale was also pushed nearly three weeks from its original June 
25 date. Nonetheless, Pump.fun recorded a highly successful sale two weeks 
ago, raising $600 million in just 12 minutes. Two days after its launch, PUMP 
surged around 70% from its ICO price, reaching an all-time high (ATH) of 
$0.0068 on July 16. Since then, investors have seen a 57.9% price drop, with 
25% of its decline occurring in the past 24 hours. The violent correction has 
been partially fueled by the recent update of PUMP’s upcoming airdrop. In the 
token announcement, Pump.fun stated that an airdrop was “coming soon,” but 
didn’t offer further details. On Wednesday night, the platform’s co-founder, 
Alon Cohen, confirmed that there will be a token airdrop but revealed it “is 
not going to take place in the near future,” which ignited massive backlash 
from the community and sent the token into its current nosedive. Community 
Slams Pump.fun Team Several X users have expressed their concerns and 
discontent with Pump.fun’s team, with some claiming that it is “easily one of 
the worst charts out right now” as “PUMP is trading like the devs already gave 
up.” Another user stated that “the way PUMP is performing post-TGE is 100% on 
the team. Only in crypto you can sell a ‘utility coin’ for $1.3B in cash and a 
week later no one still has a clue what those utilities even are lol.” Some 
community members remain hopeful that the cryptocurrency will reverse. Market 
watcher Bren Trades considers that “The crowd is grave dancing on PUMP. Just 
like they did with PENGU And we saw how that played out.” He noted that “If 
you’ve been here for a while, you know these post-launch dump outs are 
commonplace.” Meanwhile, crypto analyst Altcoin Sherpa wrote on X that “joking 
aside, I actually do think that PUMP bottoms relatively soon. I am expecting 
some sort of giga crime pump eventually.” Legal Drama Intensifies In January, 
Burwick Law filed a class-action lawsuit against the platform, alleging it 
acted as an unregistered securities exchange. According to the original 
complaint, users have suffered massive losses due to their tokens’ price 
plunging after the hype died down. On Wednesday, the law firm filed an amended 
lawsuit in the Southern District of New York against the platform and some of 
its Solana partners, including Solana Labs, the Solana Foundation, Jito Labs, 
and the Jito Foundation. Related Reading: Ethereum Ready For $3,800 Reclaim 
Despite Rejection – Third Time’s The Charm? The new complaint escalates the 
extent of the allegations, claiming that the defendants have extracted over 
$5.5 billion from customers through schemes, and seeking rescission of 
Pump.fun transactions and compensatory damages. As of this writing, PUMP is 
trading at $0.0028, a 26.6% decline in the daily timeframe. Featured Image 
from Unsplash.com, Chart from TradingView.com

Pump.Fun (PUMP) Drops 25% To New Lows Following Legal Pressure, Airdrop Update

The surging borrowing rates in the Ethereum network may send “ripple effects 
across the Ethereum ecosystem,” says a crypto researcher.

Ether vulnerable as ‘meaningful unwinding’ on horizon — Analyst

Following the passage of the GENIUS Act, which regulates stablecoin issuance, 
Anchorage Digital has partnered with Ethena Labs to launch a U.S.-compliant 
version of the USDtb stablecoin. A New Era for Stablecoin Compliance Just days 
after U.S. lawmakers passed sweeping digital asset legislation—including the 
landmark GENIUS Act regulating stablecoin issuance—Anchorage Digital, a 
federally chartered crypto […]

GENIUS Act Spurs First US-Compliant Stablecoin Launch

Bitcoin continues to consolidate just below the $120,000 mark, exhibiting 
restrained momentum despite previous rallies that pushed it to all-time highs 
above $123,000. Over the past 24 hours, the cryptocurrency has fluctuated 
between a low of $117,422 and a high of $119,197, ultimately trading at 
$118,578 at the time of writing. While price movement has remained relatively 
stable, on-chain indicators suggest that broader market sentiment is still in 
a transitional phase, with neither excessive enthusiasm nor panic selling 
present among investors. Related Reading: Are Traders Walking Into a Bitcoin 
Bull Trap at $118K? Here’s What the Data Shows Bitcoin Market Signals Suggest 
Ongoing Expansion Phase A recent analysis by CryptoQuant contributor Gaah 
highlights a key development in the Index Bitcoin Cycle Indicators (IBCI), a 
composite tool used to track phases in Bitcoin&#8217;s market cycle. According to 
Gaah, the IBCI has returned to the “Distribution” zone, an area historically 
associated with the late stages of a bull market. However, this return is 
moderate, as the index has reached only 80% of the zone’s upper boundary, 
falling short of the full saturation levels typically observed at major market 
peaks. The IBCI’s moderate level indicates that Bitcoin is in an expansionary 
stage, but without the typical signs of overheating. Gaah noted that two 
critical components of the IBCI, the Puell Multiple and the Short-Term Holder 
Spent Output Profit Ratio (STH-SOPR), remain below their midpoint levels. This 
suggests that short-term speculation and aggressive profit-taking, often seen 
in late-stage bull markets, have not yet fully emerged in the current cycle. 
As a result, while caution may be warranted, the broader trend does not yet 
resemble a typical market top. The Puell Multiple, in particular, continues to 
hover near the “Discount” range, indicating that miner profitability remains 
moderate even with Bitcoin’s recent all-time high. This points to a valuation 
structure where network participants have not yet entered the excess phase 
that typically precedes a market correction. Gaah emphasized that the current 
state of the IBCI reflects underlying market strength supported by 
fundamentals, not speculative fervor. However, he also warned that the market 
is in a high-risk correction zone in the short term and should be monitored 
closely for shifts in retail behavior and miner activity. Short-Term Holders 
Offer Support Around Realized Price Adding to the discussion, another 
CryptoQuant analyst, Amr Taha, observed that Bitcoin has maintained price 
stability near the realized price of the UTXO Age Band for 1-day to 1-week 
holders, currently around $118,300. This metric is often interpreted as a 
dynamic support level that reflects the average cost basis for recent buyers. 
According to Taha, the absence of capitulation among newer holders implies 
that recent market entrants remain confident, reinforcing the current price 
range as a psychological and technical support zone. Related Reading: Bitcoin 
Hovers Below $120K as On-Chain Indicators Point to Slowing Demand Together, 
these insights suggest that while Bitcoin may face near-term volatility, 
broader indicators do not yet reflect an overheated market. Instead, current 
metrics imply a market that continues to expand at a measured pace, with room 
for potential upside if fundamentals remain intact. Featured image created 
with DALL-E, Chart from TradingView

Market Top or Just a Pause? Analysts Weigh in on Bitcoin’s Quiet Zone

Justin Sun, founder of the Tron blockchain, rang the Nasdaq bell Thursday 
morning on behalf of Tron Inc. (Nasdaq: TRON), a new entity formed when Sun 
orchestrated a reverse merger with SRM Entertainment in June 2025. Prior to 
the deal, SRM was a publicly listed toy manufacturer that supplied products to 
theme parks such as […]