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Share link:In this post: Burwick Law and Wolf Popper issued a cease and desist letter to Pump.fun, demanding the removal of over 200 meme coins allegedly infringing on their intellectual property. The firms claim that Pump.fun allowed the creation of meme tokens spoofing their brands as retaliation for a class-action lawsuit filed against the platform on Jan. 30. Despite mounting legal challenges, Pump.fun continues to see record-breaking trade volumes largely driven by Trump-related meme coins.
Share link:In this post: US Bank reported $24 million holdings in Bitcoin ETFs in its latest SEC filing, an increase of $10 million since its last filing. Goldman Sachs announced it held Bitcoin ETFs of over $400 million across different funds last year. US-listed spot Ethereum ETFs recorded increased inflows amid the overall market dip.
Sonic's 31% rebound signals renewed interest and growing momentum. Can it break above key resistance and extend its rally toward $0.59?
- 22:20"Fed's Mouthpiece": Fed's Stagflation Forecast May Set the Tone for June Economic SummaryAccording to a report by Jinse Finance, "Fed's mouthpiece" Nick Timiraos pointed out that Federal Reserve staff made a clear stagflation forecast at the May meeting, which is significant as it may form the foundational framework for the Summary of Economic Projections (SEP) submitted by officials next month. As usual, the Fed's description is quite calm, but the staff clearly indicated a substantial slowdown in the labor market, which will lead to a rise in unemployment this year and maintain a high unemployment rate during the forecast period (until 2027). The Fed staff also predicted that inflation will rise "significantly" this year, with price increases being "smaller" in 2026. Notably, the staff stated that if their forecasts for 2026 and 2027 (where inflation is expected to reach 2%) are wrong, it is more likely to be an underestimation rather than an overestimation of inflation risks.
- 22:19The probability of the Federal Reserve keeping rates unchanged in June is 97.8%According to a report by Jinse Finance, based on CME's "FedWatch": the probability of the Federal Reserve maintaining rates unchanged in June is 97.8%, and the probability of a 25 basis point rate cut is 2.2%. The probability of the Federal Reserve maintaining rates unchanged in July is 77.6%, with a cumulative probability of a 25 basis point rate cut at 22%, and a cumulative probability of a 50 basis point rate cut at 0.5%.
- 22:19"Fed's Mouthpiece": Fed Meeting Minutes Highlight Concerns Over Rising PricesAccording to a report by Jinse Finance, "Fed's mouthpiece" Nick Timiraos stated that Federal Reserve officials expressed concerns during a meeting earlier this month that significantly raising tariffs could drive up prices and potentially trigger higher inflation. The latest meeting minutes show that policymakers generally agreed that with increasing economic uncertainty and rising risks of unemployment and inflation, they should not change their wait-and-see policy stance. The minutes stated: "Participants unanimously agreed that the uncertainty of the economic outlook has further increased, and it is appropriate to adopt a cautious approach until the net economic impact of a series of government policy changes becomes clearer." During the officials' meetings from mid-March to early May, Trump raised tariffs on most U.S. trade partners, then paused some of the most aggressive hikes.