🏛️SEC Says Memecoins Are Not Securities

gm Defiers!

Crypto markets faced continued volatility on Monday as a rally sparked by Trump’s announcement of a multi-asset crypto reserve was derailed due to renewed trade tariff concerns.

Meanwhile, the SEC clarified that it considers memecoins to be ‘akin to collectibles,’ and Hyperliquid’s revenue is spiking amid the market volatility.

✍️ In today’s newsletter:

SEC says memecoins aren’t securities
Hyperliquid flips PumpFun by weekly revenue
Ethereum Foundation creates advisory council
Trump Organization files metaverse patent
ByBit hackers launder millions through Thorchain
Virtuals Protocol revenue dries up

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🏛️SEC Says Memecoins Are Not Securities

Defining memecoins as “inspired by internet memes, characters, current events, or trends for which the promoter seeks to attract an enthusiastic online community to purchase the meme coin and engage in its trading,” the SEC made clear that it would no longer pursue securities law violations against promoters of this type of cryptocurrency.

📊Hyperliquid Flips PumpFun to Become Top 3 Revenue Generator in DeFi

Hyperliquid’s revenue has been exceptionally high over the last week, given the crypto market’s extreme volatility, and large amounts of liquidations. The DEX has earned $12.6 million in fees over the last week, or $1.8 million per day.

🗣️Ethereum Foundation Forms New Advisory Council

The Silviculture Society comprises 15 individuals outside the Foundation, including researchers, developers, and project founders. The scope of their responsibilities appears to be ensuring the Foundation sustains its core values of “open source, privacy, security, and censorship resistance.”

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🌐Trump Organization Files Patent for TRUMP Metaverse

The filing includes the ability to exchange digital goods and currencies, as well as TRUMP-branded clothing, shoes, and hats for avatars, a TRUMP-branded restaurant and “TRUMP-branded training services.”

🦹Bybit Hackers Launder Funds Through Thorchain, Shattering Daily Volume Record

Thorchain recorded its highest-ever daily trading volume of $738 million on Feb. 26. However, crypto enthusiasts quickly pointed out that the volume resulted from the Bybit hackers laundering a portion of the $1.4 billion stolen from the exchange.