ROLLUP: Memecoin Mania | Tornado Cash Win! | Pro-Crypto Trump Cabinet | Justin Sun & WLFI
Memecoin Mania Takes a Dark Turn
What started as lighthearted trading of meme-inspired tokens took a dark and disturbing twist this week. Pump.fun, a popular platform for livestreaming crypto trades, had to disable its livestream feature after users began sharing shockingly inappropriate and unethical content, including real-time rug pulls by teenagers.
Amid the chaos, Ethereum layer-2 networks Base and Farcaster reported record transaction speeds and inflows, signaling a shift in memecoin activity to these platforms. While memecoins are often fun and speculative, this week was a stark reminder of the risks and volatility of crypto’s less-regulated corners.
Trump Picks Pro-Crypto Scott Bessent as Treasury Secretary
In a bold move that has the crypto industry buzzing, Donald Trump nominated Scott Bessent as the next Treasury Secretary. Bessent, known for his support of crypto innovation, could signal a policy shift favoring blockchain technology and digital currencies.
While details of Bessent’s plans remain unclear, the nomination underscores the growing influence of crypto on U.S. economic policy. Analysts predict this move could pave the way for clearer regulations and a potential green light for Bitcoin ETFs and stablecoin frameworks.
A Surprising Investor in Trump’s World Liberty Financial
In another twist, Trump’s World Liberty Financial fundraising round attracted a surprising new investor. While names are still emerging, reports suggest that a major player in the traditional finance world has placed a significant bet on the initiative.
This unexpected move highlights the growing crossover between traditional finance and crypto, with legacy institutions increasingly interested in the digital economy.
Tornado Cash Victory: A Win for Decentralization and Privacy
This week brought a massive win for crypto advocates as U.S. courts ruled that OFAC overstepped its authority in sanctioning Tornado Cash, a decentralized privacy protocol. The ruling clarified that immutable smart contracts cannot be sanctioned, marking a watershed moment for decentralization and user privacy.
But what does this mean for Tornado Cash users? While the ruling affirms the protocol’s legality, the broader implications for DeFi protocols and privacy-focused applications are still unfolding. This decision could set a precedent that protects other decentralized systems from overreach by regulatory bodies.
What’s Next for Crypto?
The crypto industry is as unpredictable as ever, blending innovation, controversy, and triumphs in equal measure. From Base’s rising influence to pro-crypto government appointments and landmark court rulings, it’s clear that crypto is moving into a new era of mainstream relevance.