Daily Crypto NewsEDITION #1034, 19 August

Leave Pump.Fun alone!

Today, in 2004, Google began selling its shares on the stock market.

If we had invested $1,000 in Google’s IPO, we would have $1,164,133 today. But back then, the author of this digest was only 8 years old, and many of our followers weren’t even born yet. So, we keep working—our Google is still ahead of us!

Now, let’s briefly cover the important stuff because we value your time—time is Moni.

What’s up?

Everyone's talking about: Pump.Fun is getting FUDed again. People are spreading information about Pump.Fun’s stats:

- 0.0028% of wallets (70+ people) made over $1,000,000.

- 0.037% (924+ people) made over $100k.

- 0.477% (11,936+ people) made over $10k.

- 3.061% (76,587+ people) made over $1k.

And supposedly, 60% lost their money.

People are starting to project Pump.Fun’s stats onto the entire crypto market.

– NO, this isn’t all of crypto. Pump.Fun was originally launched as a casino. Why did anyone think it wouldn’t be a casino?...

– YES, the market isn’t great. And it’s convenient to just say, “Why stay here? It’s a casino,” and leave.

Who cares about Pump.Fun? And memes don’t matter either. There will be more interesting narratives—plenty of them. And we’ll be the first to jump in.

The biggest mistake we can make is leaving the market.

Other important news:

– Justin Sun, the creator of TRON, launched a Pump.Fun clone—SunPump.

Justin has a habit of taking the most hyped ideas and making copies (forks).

Back in the summer of 2020, his farms made a lot of crypto enthusiasts very happy. Will that success be repeated? We’ll watch and see, but we’re not jumping in yet.

– Ms. Harris is beating Mr. Trump on PolyMarket. Lol. 51% versus 47%. The remaining percentages are
going to Michelle Obama and other candidates.

– Meanwhile, the Trump family’s crypto project is announcing an announcement. They’re saying info is coming soon. We’re waiting.

– Swell made a snapshot of the white pearls. We’re waiting for news on the token launch. In October, there will be a drop for black pearls.

– BARRON'S reports that Fed Chair Powell will be laying the groundwork for rate cuts in September this week.