President Trump's Solana Meme Coin Just Skyrocketed—Here's Why

An agreement between Hong Kong and Shanghai aims to develop a shared digital platform for cross-border trade using blockchain technology. The initiative targets reducing delays and fraud in cargo finance, enhancing Hong Kong's role as a financial bridge between China and global markets.

South Korea's finance minister has announced plans for comprehensive reforms in the management of digital assets by government agencies, following recent mishandling of seized cryptocurrencies. The government will review current practices and collaborate with relevant agencies to enhance security measures and prevent future incidents.

Hyperliquid's HYPE token saw a 6% increase as traders sought risk exposure during Iran-related tensions, while traditional markets were closed. The decentralized exchange allows direct on-chain trading of perpetual futures contracts without a centralized intermediary, attracting activity during volatile periods.

Bitcoin has reacted to the escalation in the Middle East, with U.S.-led strikes on Iranian targets causing concerns about a wider regional conflict. Despite the conflict, Bitcoin's price has only dropped 1.3% to $65,760, showing resilience compared to equity-index futures.

Bitcoin, after peaking above $69,000, dropped over 3% to nearly $65,000 on Friday as stocks dipped. Ethereum, XRP, and Solana also experienced significant drops in price. Meanwhile, gold saw a 1.4% increase as investors sought safe haven assets.

Magic Eden will cease support for Ethereum-compatible and Bitcoin-based assets, including those minted on networks like Polygon and Base, as well as Bitcoin Ordinals and Runes meme coins. The company will focus on supporting assets within Solana's ecosystem moving forward.

Trump Media and Technology Group plans to spin off Truth Social into a separate public entity, merging with Texas Ventures III. The move aims to create shareholder value through distinct strategies for each company. Details on the fate of Trump Media's crypto initiatives remain unclear.

Transactions on Bitcoin's Lightning Network are increasing, with larger transactions being processed regularly. The network, initially intended for microtransactions, is now facilitating significant transfers, such as a recent $1 million transaction by Kraken.

Ripple aims to diversify funding for XRP Ledger development through a new FinTech Builder Programme, university partnerships, and venture capital support. The company seeks to create a more distributed model for ecosystem funding to support builders.

South Korea's National Tax Service mistakenly published seed phrases in a press release, allowing an unidentified individual to steal $4.8 million worth of tokens. The incident led to the return of the tokens after being transferred to an Ethereum address ending in "86c12."