⚖️18 U.S. States Sue Gensler

GM Defiers!

Attorneys General representing 18 U.S. states have teamed up with the DeFi Education Fund to launch legal action against Gary Gensler and the SEC over its treatment of the crypto industry.

Weekly Solana DEX volume has surged above $30 billion, smashing its previous all-time high by more than double.

Pennsylvania lawmakers want to use up to 10% of the state’s strategic reserve assets to buy Bitcoin.

Also, OpenSea activity rises on airdrop speculation, and Hyperliquid users struggle to confirm token genesis eligibility.

✍️ In today’s newsletter:

18 states slam SEC with lawsuit over crypto
Solana’s daily DEX volume soars past $6B
Pennsylvania’s Bitcoin Strategic Reserve Act
OpenSea airdrop speculation boosts activity
Hyperliquid reopens airdrop claims
Bitcoin ETFs suffer $400M of outflows

📈 Markets in the last 24 hrs:

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🥊18 U.S. States Sue Gary Gensler’s SEC Over Crypto Crackdown

Gary Gensler and the SEC are facing legal action from Attorneys General representing 18 U.S. states over the agency’s aggressive campaign of regulation-by-enforcement targeting the crypto industry. The complaint alleges that the SEC unlawfully expanded its jurisdiction without Congressional approval.

🚀Solana DEX Volume Smashes Previous Record By Double

Solana-based decentralized exchanges drove more than $34 billion worth of trades over the past seven days, smashing the previous weekly record by nearly 90%. Raydium accounted for 66% of volume as memecoin mania shows no signs of slowing down.

🏛️Pennsylvania House Moves To Create Strategic Bitcoin Reserve

Pennsylvania is the latest state looking to invest in Bitcoin, with the state’s House representatives introducing the Pennsylvania Bitcoin Strategic Reserve Act. If approved the bill would greenlight earmarking 10% of the state’s $7 billion in strategic reserves to buy BTC.

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AURUS is set to change crypto by infusing real-world value into DeFi, NFTs, GameFi, and more with tokenized gold and silver.

Moving beyond commodity trading, AURUS brings stability and fresh energy to Web3 applications. Exciting partnerships—like those with a top-2 meme coin and a major eGaming brand—add to its momentum. With newly upgraded tokenomics, the ecosystem is further strengthened by the launch of $AURUS, designed to enhance on-chain liquidity and drive growth. Key updates include a burn of half the legacy token supply, a tiered rewards program, and attractive incentives for both early and new supporters. AURUS’s combination of real-world assets with innovative tokenomics may mark the start of a Golden Era for crypto.

👀OpenSea Activity Picks Up on Token Speculation

OpenSea, the largest NFT marketplace trade volume, is enjoying a surge in activity amid speculation the project may soon launch a token. The speculation comes as OpenSea is gearing up to launch its v2 iteration next month.

🪙Hyperliquid Gears Up for Token Launch

Hyperliquid, a Layer 1 blockchain and perpetuals DEX, has relaunched token claims for its upcoming airdrop after many users could not confirm their allocations. HYPE is changing hands at a fully diluted valuation of $3.8 billion on the pre-market trading platform Aevo.

📉Crypto Markets Dip as Fed Signals Patience on Rate Cuts

The cryptocurrency market continued its downward trend on Friday as Federal Reserve Chair Jerome Powell signaled a cautious approach to further rate cuts. Meanwhile, U.S. Bitcoin exchange-traded funds (ETFs) recorded their third-largest single-day outflow since their inception.

🌍 ELSEWHERE

South Korea’s Upbit under probe for at least 500,000 KYC violations: report (The Block)
Aave Gauges Community Interest for Expansion to Bitcoin Layer 2 Spiderchain (CoinDesk)
Consensys decentralized Infura launches as EigenLayer AVS (Cointelegrah)
The Trump-Connected Brad Bondi Is a New SEC Chair Contender and Pro-Crypto (Unchained)