Ethereum Foundation reforms. pump.fun plans $1B token sale.

Hey traders! 👋

While the market itself remained relatively steady, the crypto news cycle didn’t slow down one bit, and some of it could have major implications for the industry’s future. Let’s dive into what happened in the crypto world this week! 👇

quick weekly news

Ethereum Foundation reforms

After the underwhelming performance of the Ethereum Foundation and the $ETH token in 2024, it appears that Ethereum’s leadership has decided to restructure the organization to align with the new realities of the market. One of the first major developments this week was the announcement by Vitalik Buterin that the Protocol Research & Development arm will be renamed simply to “Protocol,” alongside a restructuring effort that will reduce the total number of employees from 110 to under 100. The main reason cited for these changes was the rise of zkEVMs and Ethereum L2s, which are pushing the Foundation to “ship protocol” more aggressively.

A few days later, on June 4th, 2025, the Foundation released an update on its Treasury policy aimed at strengthening the Ethereum ecosystem and enabling “applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference.”

To summarize the key changes: the Ethereum Foundation will now take a more active role in grant funding, introduce both annual and quarterly financial reports, and work to reduce annual operational expenses.

Additionally, the protocol plans to earn returns on treasury assets through solo staking and lending via the WETH token. Its fiat reserves will be allocated across tokenized real-world assets (RWAs), highly liquid instruments, and liability-matched reserves. Lastly, the Foundation mentioned that it will conduct periodic Ether sales to maintain its Opex Buffer (“B”) target.

pump.fun plans $1B token sale at $4B valuation

However, it’s not just the Ethereum ecosystem making waves, Solana is seeing major developments too. This week, crypto media outlet Blockworks reported that Pump.fun, the leading Solana-based memecoin launchpad, is planning a $1B token sale at a $4B valuation.

The main source behind this claim was a post by crypto influencer @nextfuckingthing on Twitter, who stated that he received the information from insiders close to the Pump.fun team. He even claimed that seed investors are already lined up. However, no official confirmation or additional sources about the potential token sale have surfaced yet.

To recap, Pump.fun is one of the most well-known memecoin launchpads on Solana, launched in 2023 to enable codeless token creation. Since then, it has become the go-to hub for launching new tokens, memes, and so-called “shitcoins”. The platform has also been at the center of numerous scandals involving crypto fraud, scams, and pump-and-dump schemes, earning it the controversial title of a “liquidity black hole” on Solana. Despite the controversy, Pump.fun has skyrocketed in usage, entering the top 10 crypto projects by revenue, according to DeFiLlama, with over $43.01M earned to date.

South Korea elects crypto-friendly president

Meanwhile, in South Korea, the presidential election concluded this week with Lee Jae-myung, leader of the Democratic Party, emerging as the winner. As reported by CoinTelegraph, cryptocurrency played a notable role in his campaign platform, with several key crypto-related promises made during the race.

It is expected that his administration will support the integration of digital assets into South Korea’s regulatory and financial systems. To facilitate this, the Democratic Party has established a Digital Asset Committee, which aims to complete the Digital Asset Basic Act (DABA) – a legislative effort initially started under the previous president, Yoon Suk-yeol.

• Among the crypto-related promises made by Lee Jae-myung are:
• Allowing South Korea’s largest pension funds to invest in digital assets
• Legalizing spot crypto ETFs
• Launching a won-pegged stablecoin
• Reforming banking partnership rules for exchanges to enhance market competition

$2.1B crypto stolen in 2025 as hackers shift focus from code to users

However, this week didn’t bring only positive news from the market, there were some concerning developments as well. According to a recent post on Twitter by blockchain security firm CertiK, hackers are shifting their focus away from smart contract vulnerabilities and increasingly turning to social engineering schemes.

These types of attacks exploit user behavior, tricking individuals into interacting with malicious files or links in order to steal their funds. As a result, there has been a dramatic rise in losses due to wallet compromises and phishing attacks, which now account for 84% of all stolen funds, totaling nearly $2.1B.

In total, the amount of funds lost across the crypto space since the beginning of 2025 has reached approximately $2.39B. After social engineering, the second most problematic cause of losses remains code vulnerabilities.

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