Crypto Startup Apologizes for Using Polymarket to Bet on Fundraising, Catching Backers Off Guard

The CEO of Tahaluf invited the author to LEAP in Saudi Arabia, where he discovered the country's rapid transformation and potential for foreign real estate investment starting in 2026. The event provided insights into Saudi's evolving tech scene and upcoming property market changes.

Pump.fun's delay in the airdrop announcement has caused a 17.7% drop in its token value, pushing it out of the top 100 cryptocurrencies by market capitalization. The meme coin market, including Dogecoin and Shiba Inu, is down 10.7% in the last 24 hours.

The Presidential Working Group on Digital Asset Markets, led by David Sacks, is set to release its report on July 30 after a 180-day review of digital asset policy. The report is expected to cover various aspects of digital asset regulation, including token classification, stablecoin oversight, and enforcement clarity.

Altcoins like Ethereum and Solana have surged recently, but signs of exhaustion and potential corrections are emerging. Ethereum's sell orders near its current price indicate possible selling pressure, while Solana's high open interest suggests high leverage and a risk of liquidation.

A class action lawsuit accuses Pump.fun and its partners of running a racketeering enterprise resembling an unlicensed digital casino, allegedly extracting billions from users through meme coin trading. The suit claims the platform allowed anonymous token trading in a rigged environment.

PayPal plans to launch PayPal World, a platform connecting domestic digital wallets to its global network, simplifying cross-border transactions for nearly two billion users. The system offers fast settlement and currency conversion similar to stablecoins, without relying on blockchains or tokenized assets.

The Senate introduced a preliminary draft of a crypto market structure bill, focusing on securities and the SEC. The bill aims to provide legal pathways for crypto startups to raise funds through ICOs and shift oversight from the SEC to the CFTC.

The crypto market, including altcoins like Ethereum and XRP, is experiencing a pullback today after recent gains. Despite this, market sentiment remains in "greed" territory, indicating temporary profit-taking rather than a trend reversal.

MEI Pharma recently closed a $100 million private placement to transition into a litecoin treasury firm, selling over 29 million shares at $3.42 per share. Charlie Lee, Litecoin Foundation founder, led the placement and will join MEI's board of directors.

Altcoins like Ethereum, XRP, Solana, and Dogecoin experienced significant drops amid a broader market decline, leading to liquidations of long positions. Ethereum, XRP, and other top cryptocurrencies have recently outperformed Bitcoin, contributing to a surge in the collective altcoin market cap.