{"id":14858,"date":"2024-07-01T16:22:37","date_gmt":"2024-07-01T13:22:37","guid":{"rendered":"https:\/\/forklog.com\/en\/cryptocurrency-developments-german-and-us-transfers-binance-alerts-and-pump-fun-revenue\/"},"modified":"2024-07-01T16:22:37","modified_gmt":"2024-07-01T13:22:37","slug":"cryptocurrency-developments-german-and-us-transfers-binance-alerts-and-pump-fun-revenue","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cryptocurrency-developments-german-and-us-transfers-binance-alerts-and-pump-fun-revenue\/","title":{"rendered":"Cryptocurrency Developments: German and US Transfers, Binance Alerts, and Pump.fun Revenue"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Pump.fun&#8217;s fees have generated $50 million in revenue for the platform.\u00a0<\/li>\n<li>Binance has added monitoring tags for several highly volatile tokens.<\/li>\n<li>The governments of Germany and the US have moved $150 million in Bitcoin and Ethereum.\u00a0<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Profits from Memes<\/h2>\n<p>Since its launch, the cumulative revenue of the meme-token creation platform Pump.fun, based on Solana, has exceeded $50 million, according to <a href=\"https:\/\/defillama.com\/protocol\/pump#fees-revenue\">DeFi Llama<\/a>.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/docsz\/AD_4nXd5PdUw0K2zweoclzGpgVjApAOgLZlmekOgi9nrCRDaH_plYi-PGN-0XC2VNmvF1KgC3xjk60dVGhj3wM3FjJ1kPqhVAvPijPSxg_PawN6LBH3waDt4DR5k4sJdc5vHF8-YnWjOCheKrEIGU6rZfWRRKJI?key=UVp8LGkc3lqHbu23BFg5JQ\" alt=\"Cryptocurrency Developments: German and US Transfers, Binance Alerts, and Pump.fun Revenue\"\/><figcaption class=\"wp-element-caption\">Cumulative revenue of Pump.fun. Source: DeFi Llama.<\/figcaption><\/figure>\n<p>In the past 24 hours, the protocol generated approximately $598,000 from fees.\u00a0<\/p>\n<p>According to the <a href=\"https:\/\/dune.com\/queries\/3705945\/6235670\">Dune<\/a> dashboard, about 1.18 million meme-coins have been issued through the platform since its inception.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/docsz\/AD_4nXdZStKwRHZj-vjht3F9nyAVdUXnBvYDWgu7KORpN9h9Bm3bfEYi_Nz3iwC_ENlrVkNJpwiMfi4Rx8_ZSED_K0-0s99-a8q81_ekl7Q-ZmgXAOBonwXyuzLfQx0X_ZdJ-aFgtwsbNl_tsMwFhyVEKBU79D8_?key=UVp8LGkc3lqHbu23BFg5JQ\" alt=\"Cryptocurrency Developments: German and US Transfers, Binance Alerts, and Pump.fun Revenue\"\/><figcaption class=\"wp-element-caption\">Launches of new meme-tokens on Pump.fun. Source: Dune.<\/figcaption><\/figure>\n<p>However, at the end of June, the &#8220;meme-token factory&#8217;s&#8221; revenue plummeted by 30%. This decline may have been triggered by the overall downturn in the crypto market.\u00a0<\/p>\n<p>Earlier, the cryptocurrency data service DEX Screener launched a competing platform on Solana called Moonshot, which has already earned <a href=\"https:\/\/defillama.com\/protocol\/moonshot#fees-revenue\">around $493,000<\/a> in fees since its debut.<\/p>\n<h2 class=\"wp-block-heading\">Binance Updates Tags<\/h2>\n<p>On July 1, Binance, the largest cryptocurrency exchange by trading volume, <a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/binance-will-extend-the-monitoring-tag-to-include-bal-ctxc-cvp-cvx-dock-hard-iris-mbl-pols-snt-sun-and-remove-the-monitoring-tag-for-mln-zen-on-2024-07-01-782b121c462b499487dc8f20e0edc6b2?hl=en\">added<\/a> several digital assets to its monitoring list. The list includes:\u00a0<\/p>\n<ul class=\"wp-block-list\">\n<li>Balancer (BAL);<\/li>\n<li>Cortex (CTXC);<\/li>\n<li>PowerPool (CVP);<\/li>\n<li>Convex Finance (CVX);<\/li>\n<li>Dock (DOCK);<\/li>\n<li>Kava Lend (HARD);<\/li>\n<li>IRISnet (IRIS);<\/li>\n<li>MovieBloc (MBL);<\/li>\n<li>Polkastarter (POLS);<\/li>\n<li>Status (SNT);<\/li>\n<li>Sun (SUN).\u00a0<\/li>\n<\/ul>\n<p>Tokens with such a tag &#8220;exhibit higher volatility and risks compared to other coins,&#8221; stated exchange representatives. These crypto-assets are closely monitored and undergo regular reviews:\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Please note that tokens with a monitoring tag risk failing to meet our listing criteria and may be delisted from the platform.&#8221;<\/p>\n<\/blockquote>\n<p>Binance also removed the corresponding tag from two coins \u2014 Enzyme (MLN) and Horizon (ZEN).\u00a0<\/p>\n<p>Previously, the exchange delisted Waves (WAVES), OmiseGO (OMG), NEM (XEM), and Wrapped NXM (WNXM) due to non-compliance with &#8220;high standards and industry requirements.&#8221;\u00a0<\/p>\n<h2 class=\"wp-block-heading\">Sales of Seized Crypto Assets<\/h2>\n<p>On July 1, the German government moved 1500 BTC, worth approximately $95 million, to several cryptocurrency exchanges.<\/p>\n<p>According to the <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/germany\">Arkham<\/a> analytics panel, wallets associated with Germany&#8217;s Federal Criminal Police Office (BKA) sent two transfers of 400 BTC and 1500 BTC to Bitstamp, Coinbase, and Kraken. At the time of writing, the BKA-controlled address holds 44,690 BTC (~$2.8 billion).<\/p>\n<p>On June 26, Bitcoin wallets linked to Germany transferred 595.3 BTC, worth ~$36.65 million, to crypto trading platforms. On June 25, the same address sent 200 BTC each to Coinbase and Kraken. Prior to this, the government moved 6500 BTC (~$425 million).\u00a0<\/p>\n<p>These are likely coins <a href=\"https:\/\/forklog.com\/en\/news\/german-authorities-seize-nearly-50000-btc-from-pirates\">seized<\/a> by law enforcement in January from administrators of the pirate movie site Movie2k.\u00a0<\/p>\n<p>On the same day, the US government <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/usg\">transferred 3375 ETH<\/a> worth $11.75 million to an unknown address. The United States remains the largest holder of cryptocurrencies among countries, with assets worth $13.8 billion held in government-controlled wallets.\u00a0<\/p>\n<p>Last month, the US transferred 3940 BTC (~$240 million) to the Coinbase Prime exchange. These funds were <a href=\"https:\/\/forklog.com\/en\/news\/us-government-seizes-250-million-in-bitcoin-from-drug-trafficker\">seized<\/a> from drug trafficker Banmit Singh in May.\u00a0<\/p>\n<p>Previously, Bitcoin Magazine CEO David Bailey accused the US authorities of &#8220;squandering&#8221; the country&#8217;s Bitcoin reserves, which should have exceeded 400,000 BTC.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pump.fun&#8217;s fees have generated $50 million in revenue for the platform.\u00a0 Binance has added monitoring tags for several highly volatile tokens. The governments of Germany and the US have moved $150 million in Bitcoin and Ethereum.\u00a0 Profits from Memes Since its launch, the cumulative revenue of the meme-token creation platform Pump.fun, based on Solana, has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,109,1161,1150,26],"class_list":["post-14858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-germany","tag-memes","tag-news-plus","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14858"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14858\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14857"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}