Monad Mainnet in Audit and Solana Meme Trading At Center of RICO Case
Plus, the Bonk v Pump.Fun battle for launchpad supremacy is in full swing. And some more big Treasury news.
It’s Tuesday, people. Welcome back to another episode of Daily Crypto News. Matt returns manana. Is there an astrological cazimi this week?
Listener comment for the Day: C writes on Spotify that $PENGU is looking rough.
There was no VC pre-sale—most tokens were distributed via airdrop.
However, team and company still hold ~29% of supply at launch (26% now, according to data on Tokenomist) This does introduce some centralized control and potential unlock risk.
Only 12% reserved for liquidity ensures market access, not VCs. So while it wasn’t capital-funded pre-sale, it isn’t purely decentralized or retail-first either.
The thing is that its about the zeitgeist. Look around CryptoTwitter and dozens of major projects are onboard with the Pudgy PFPs.
Also, remember to send in your questions. We - Matt and I - really enjoy the back and forth. One last thing before the news, pay attention to our Substack. We have something exciting cooking this week. If you are familiar with a news agency that rhymes with ClockTwerks, we have something cooking with them for the end of the week. The clue is that we’ll be hopefully doing something with a show that shares part of its name with a great HBO show featuring Steve Buscemi about the Prohbition Era in the USA. That’s should really be a good clue. HaHa. Alright onward and upward people.
Before we go beyond the headlines, just a couple breaking headlines for you this morning as well:
Hyperliquid went down for about 15-20mins this morning. No sign of what happened yet.
And eToro is launching tokenized stocks as Ethereum ERC-20 tokens.
TODAY’S HEADLINES
Monad mainnet hits audits. Team announced on Tuesday that the mainnet client is officially in audit. Are we going to see this by year's end?
GitHub experienced a significant outage starting on July 28, 2025, which disrupted services for developers globally. The incident, beginning around 10:40 PM UTC, affected key features such as API requests, issues, and pull requests due to networking issues and infrastructure strain.
Amidst all the memecoin frenzy of late, and that we mentioned yesterday, there is a secondary benefactor to these rises. We’re seeing a comeback in the value of many Solana NFT projects. When the value of the base tokens increase, so do the NFTs. PENGU (35%/14d), FONK (89%^/14d) - ZORA and ENA as well.
But we’re seeing users ditch Pump.Fun. The battle for Bonk v Pump is on.
ALSO: Solana, Pump.fun Named in Amended RICO Suit Alleging $5.5B Meme Coin Gambling Scheme
Two interested treasury announcements. Mill City Ventures III Announces $450M Private Placement to Initiate Sui Treasury Strategy. ETHZilla, a $425 Million Private Placement to Establish an Ether Treasury Reserve Led by Consortium of Digital Asset Leaders.
Quick Bitez
A Solo Bitcoin Miner apparently mined entire Bitcoin themself, earning the block reward amid rising network challenges.
The miner utilized the Solo CK pool, a solo mining service, to mine block 907283, which included 4,038 transactions and accrued block fees totaling $3,436. This accomplishment highlights the challenges faced by solo miners in an environment increasingly dominated by large-scale corporate mining firms.
Salyor’s Strategy skipped BTC buys last week. No new purchases no wallet moves just watching the market. People watch these wallets like hawks as well.
The ECB Says U.S.-Backed Stablecoin use in EU Could Weaken Its Monetary Autonomy. If they have not already realized this, then their doomer. People have tried a digital Euro and it just didn’t work. This is another reason the US government should be feared behind the stables. It’s hegemony isn’t going anywhere.
Your dear friend and host Matt will be back tomorrow. So stay tuned.
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C3
The C3 team has more than 20 years of experience in journalism, including leading the editorial and content side of a major Web3 news publication. They are also experienced AI and Web3 PR professionals, regularly placing content in leading web3 and AI publications. C3's members previously co-founded the PR department at SCRIB3, and have experience with clients such as EigenLayer, VanEck, Monad, SKALE Network, LEVR Bet, Symmio, Camp Network, Evmos, Avail, Moonbeam, and others.
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Feels like Monad will enter the conversation after a major flush, like their parallel transactions and finality before the start. Monad for the win.