Systems are still under pressure as users decry empty hands after the PUMP token sale. Based on this, Kraken co-founder Arjun Sethi announced plans that could help assuage affected users.
Meanwhile, Bybit continues to face backlash after the wildly oversubscribed meme coin sale, with users claiming they were rug-pulled despite showing up on time.
Kraken’s Arjun Sethi Promises PUMP Airdrop After Token‑Sale Glitch
Kraken co-founder Arjun Sethi pledged to provide an automatic airdrop of PUMP tokens to users who could not finalize their purchases during the recent Pump.fun public token offering, due to Kraken’s system limitations.
“We reviewed internal order logs and client activity to identify those affected. To make this right, Kraken will airdrop PUMP to impacted users once the token is live,” wrote Sethi.
Further, the Kraken Exchange executive articulated that eligibility would prioritize verified order intent during the sale window. This means users do not need to take any action as the distribution will be automatic and free of charge.
In hindsight, the launch generated intense demand, with Kraken sales fully allocated in less than a minute. Meanwhile, as BeInCrypto reported, Pump.fun raised $500 million as tokens sold out in a record 12 minutes.
According to Sethi, despite users’ timely attempts, Kraken’s system could not keep up with the reaction speed required to submit orders.
The move appears to be aimed at rebuilding confidence among Kraken’s user base. It could also help reinforce its commitment to fairness and platform resilience.
“Events like this highlight how important access, speed, and reliability are. We are continuing to invest in all three,” Sethi emphasized.
This comment from Mert Helius, a popular user on X and CEO of Web3 infrastructure platform Helius Labs, reflects cautious approval of Kraken’s proactive gesture, without discrediting user complaints entirely.
Notwithstanding, some users have voiced lingering concerns.
“Can you clarify this a bit? The sale appeared to be open for 15 minutes or so. If you tried to buy through the app, it just said ‘this token has low liquidity / add to favorites.’ Which clients are eligible exactly,” one user posed.
Kraken has not yet clarified whether only “on-screen” order attempts were counted. If so, it could exclude users who encountered ambiguous UI errors.
Ray Dalio, the billionaire founder of Bridgewater, has issued a stark warning that the global monetary order is “on the brink” of collapse.
He pointed to the current administration’s tariff policies as a significant catalyst, arguing that they have fueled deglobalization trends and caused severe trade imbalances.
Ray Dalio’s Warnings: The Coming Challenges to US Economic Superiority
The US tariff on most Chinese imports has risen to 145%. In retaliation, Beijing has imposed a 125% tariff on American goods. While reports have circulated that de-escalation could be expected soon, nothing has been confirmed yet.
In his latest essay, Dalio delves deeper into this dynamic, arguing that even if negotiations result in de-escalation, it may not fully undo the damage already inflicted.
“Some people believe that the tariff disruptions will settle down as more negotiations happen and greater thought is given to how to structure them to work in a sensible way. However, I am now hearing from a large and growing number of people who are having to deal with these issues that it is already too late,” he wrote.
Dalio highlighted that exporters and importers worldwide are now forced to reduce their dealings with the US drastically. He noted that both American and Chinese producers and investors are actively seeking alternative plans to minimize interdependence.
He believes this trend is becoming broadly recognized across trade, capital markets, geopolitical, and military relations. Dalio argued that the world is nearing a breakdown of monetary, domestic, political, and international order due to unsustainable fundamentals. This situation mirrors past historical shifts in global orders.
“Though not yet fully realized, it is also increasingly being realized that the United States’ role as the world’s biggest consumer of manufactured goods and greatest producer of debt assets to finance its over-consumption is unsustainable, so assuming that one can sell and lend to the US and get paid back with hard (i.e. not devalued) dollars on their US debt holdings is naive thinking, so other plans have to be made,” Dalio remarked.
The billionaire investor expressed concern that the US risks being bypassed as other countries adapt to these separations, establishing new trade networks and economic “synapses” that exclude the US. This shift could further erode trust in the US dollar, which is already losing ground amid global economic uncertainty.
While he did not specify which currencies might gain prominence, Dalio has previously advocated for “hard money” assets like Bitcoin (BTC) and gold as hedges.
“I want to steer away from debt assets like bonds and debt, and have some hard money like gold and Bitcoin,” Dalio said during the Abu Dhabi Finance Week (ADFW) in December 2024.
Global Monetary System at Risk: Is Bitcoin the Solution?
The warning has resonated within the cryptocurrency community. Jeff Park, Head of Alpha Strategies at Bitwise, stated that Dalio’s recent comments signal a looming “dedollarization” threat.
Park emphasized that Dalio’s shift from supporting China to acknowledging US economic imbalances suggests the global move away from the US dollar is approaching faster than many anticipate, a concept long recognized by Bitcoin advocates.
“The dedollarization threat is nearer than you and I know,” Park wrote.
Similarly, another expert asserted that the conditions Dalio describes create an ideal environment for Bitcoin. Rex believes these developments could drive Bitcoin to surge significantly within the next 18 months, potentially exceeding market expectations.
This impact is already quite visible as BTC’s value has recovered amid a dropping dollar. Over the past week, it has appreciated by 7.5%. At the time of writing, BTC was trading at $94,985.
In fact, market watchers are increasingly bullish on BTC, predicting higher price targets for the largest cryptocurrency. Last week, ARK Invest raised its BTC price forecast from $1.5 million to $2.4 million by 2030. Meanwhile, experts’ forecasts for BTC range from $150,000 per coin to a more optimistic $1 million by the end of 2025.
As publicly listed companies increasingly consider accumulating digital assets as part of their financial strategies, Bittensor (TAO) is emerging as a strong contender alongside options like Bitcoin, Ethereum, Solana, and XRP.
Experts and recent moves by companies such as Oblong and Synaptogenix reinforce the belief that TAO could become a store of value.
Which Public Companies Have Chosen Bittensor (TAO) for Strategic Reserves?
Recently, Oblong, a Nasdaq-listed IT solutions provider, announced its plan to raise $7.5 million through a private stock offering. The funds will support its digital asset and AI strategy, which is based on Bittensor.
According to a press release on June 6, the company will primarily use the money to purchase TAO tokens and to develop the decentralized AI market, including Subnet 0. This strategy aims to generate yield from holding TAO. After the announcement, Oblong’s stock jumped 12%, with nearly 2 million shares sold at $3.77 each.
In addition, Synaptogenix, another Nasdaq-listed firm, revealed its plan to initially acquire $10 million worth of TAO, more than double the company’s current market capitalization.
“Based on our initial review, we believe the fixed market supply of 21 million TAO tokens alongside rapidly increasing global demand for AI development and adaptation makes TAO a compelling cryptocurrency,” Joshua Silverman, Chairman of the Board, said.
Synaptogenix has set a long-term goal to increase its TAO holdings to $100 million. The effort is led by well-known crypto and AI expert James Altucher.
Altucher emphasized that this strategy focuses not just on potential profits from staking and token price growth. It also aims to rebrand the company’s name and stock ticker to reflect its TAO-based digital asset strategy. This demonstrates Synaptogenix’s strong belief in Bittensor’s long-term potential.
Oblong and Synaptogenix’s moves come as other companies are choosing Solana (SOL), XRP, or Ethereum as strategic reserves.
Analyst Predicts TAO Could Become a Top 3 Altcoin
Many industry experts also share a positive outlook on TAO. Their confidence is driven by the fact that Bittensor operates a token economy with a fixed supply, similar to Bitcoin, and incentivizes participation and contributions to the network.
A recent report by BeInCrypto showed that the number of subnets on TAO has reached a new all-time high. Institutional investors are also beginning to eye TAO for its staking returns.
“TAO is the only project that has the necessary ingredients to get to the level of BTC. Top 3 is inevitable,” hedge fund manager Pedro Teixeira, predicted.
According to data from CoinMarketCap, TAO is currently the top altcoin among AI tokens, with a market cap of over $3.8 billion. It also holds a leading position in Grayscale’s AI Sector. Meanwhile, AI tokens continue to be one of the most prominent themes in the market today.
At the time of writing, TAO is priced at $434, up 25% since the beginning of the month. However, to overtake XRP and become a top 3 altcoin—as Pedro Teixeira predicts—TAO’s price would need to increase fivefold.
That said, this expectation may face headwinds. Bitcoin dominance is on the rise again in June, and altcoin season has yet to arrive. Furthermore, some experts warn of risks if the trend of public crypto vehicles spreads widely to altcoins beyond Bitcoin.
Web3’s future is being shaped by those who bridge technology and sustainability. As blockchain matures, real-world utility has become the currency of trust for both individuals and institutions. In this pivotal moment, VeChain CEO Sunny Lu offers a unique perspective on his company’s mission—and the larger transformation unfolding in crypto.
Sunny Lu is the CEO of VeChain, a pioneering enterprise blockchain platform recognized for its commitment to sustainability and mass adoption. BeInCrypto interviewed Lu in June 2025 to discuss the rollout of Stargate, VeChain’s new decentralization engine, and how the project’s evolving strategies aim to move beyond speculative hype into measurable impact.
Their conversation, held at the launchpad of VeChain’s most significant upgrade yet, illuminated ambitions for a truly democratized and utility-driven future, covering protocol upgrades, compliance, developer opportunities, and VeChain’s global reach.
The following interview reveals VeChain’s multi-layered approach, from grassroots ESG incentives to staking innovations that open decentralization to everyone. Lu makes it clear: this is VeChain’s renaissance—and its boldest step forward.
The Evolution of VeChain: Infrastructure, Adoption, and Sustainability
VeChain has gone through three major phases, each shaped by a white paper. The first, in 2017, focused on building the core infrastructure. By 2019, we had moved to enterprise adoption, working with companies like Walmart, BYD, and others on food safety and sustainability.
In 2023, we launched our third white paper, “Web3 for Better,” which marks our current focus: building sustainability-driven applications. We launched vBetterDAO to encourage people to take better daily actions—so far, we’ve reached 2.7 million users and over 40 applications.
Now, we’re entering what we call the VeChain Renaissance, the most significant upgrade in our history. Its first milestone is the Stargate platform, launching July 1, designed to enable decentralization at scale.
Stargate and the Road to True Decentralization
Stargate is the first step of the VeChain Renaissance. It includes major protocol and tokenomics upgrades aimed at true decentralization. Most users can’t run validators because they require technical skills. Stargate introduces a staking system using NFTs to simplify participation.
Users can stake VET into smart contracts, mint NFTs of different levels based on their stake, and delegate those NFTs to validators, without giving up control of their funds. This approach removes technical barriers and brings in real rewards.
Validators can earn up to 15% APY, and delegators up to 12%.
Importantly, VET and VSO have been deemed MiCA compliant by the Central Bank of Ireland since March 2025, and we also ensure our model aligns with SEC guidance.
Weighted Proof-of-Stake and Flexible Participation
We’ll support 101 validators, as we do now with our Proof of Authority model, but we’re evolving to include up to 500,000 delegators through a weighted delegated Proof-of-Stake system.
Legacy XNode and Econode holders can swap into new NFTs, while new users can mint from seven NFT tiers based on staking amounts. The system is flexible and deflationary—users can unstake and burn their NFTs anytime.
Sustainability as VeChain’s Pillar: Applications and Impact
It’s still a pillar. Our vBetterDAO fosters both startups and big corporations to build decentralized applications that incentivize sustainable behaviors. For example:
Markshaw and GreenCard reward people for using recycled mugs or buying organic goods.
EVN, using Tesla APIs, rewards Tesla drivers for eco-friendly charging behavior.
BYB (Build Your Body), co-developed with UFC, rewards users for physical workouts using motion detection.
These applications are highly engaging—some have over a million users with exceptional retention.
ESG, Greenwashing, and the Bottom-Up Alternative
We acknowledge that ESG can be politicized or used as greenwashing. Traditional ESG is top-down, driven by big corporations or financial institutions. We do the opposite.
Our approach is bottom-up, empowering individuals to make daily sustainable choices. These actions accumulate into real impact. Our vision complements traditional ESG with grassroots action and technology.
Opportunities for Developers
We offer several entry points:
DevRel support – Our developer relations team is ready to assist.
Grant programs – We incentivize developers to build applications aligned with our vision.
BCG Consultation Program – In partnership with BCG, we help top developers with go-to-market strategies and partnerships.
Ultimately, vBetterDAO acts as an incubator, offering developers everything they need to launch and scale.
Global User Base and Institutional Vision
We’ve mapped our users worldwide: the U.S., Europe, Southeast Asia, Africa—you name it. We’re present almost everywhere, except a few sensitive regions.
We started in 2024. Johnny Garcia, formerly of Vanguard and Bitwise, joined us to lead our institutional strategy. We’re onboarding institutions not just as investors, but as validators.
These are long-term supporters, not speculators. They’re contributing to network security and aligned with our sustainability vision.
Everything is possible. We’re keeping our options open.
A Turning Point: Real World Utility in 2025 and Beyond
2025 is a turning point. Regulations are becoming clearer—MiCA in Europe, and increasing clarity from the SEC in the U.S.
Institutions are looking for real-world utility, not just narratives. That’s what we offer—real applications, real users, and real value.
We’re transitioning from a narrative-driven market to a fundamentals-driven one. It’s just like the evolution of the internet. I’m confident and bullish about where VeChain is headed.
Conclusion
Sunny Lu’s vision for VeChain is centered on accessibility, transparency, and measurable utility. Stargate’s NFT-based staking and global compliance drive VeChain to the forefront of decentralization.
Through sustainability initiatives and bold partnerships, VeChain continues to empower both individuals and institutions to generate tangible impact, one step at a time. As regulations clarify and technology matures, Lu’s confidence signals a new chapter where fundamentals and real-world value define blockchain’s next wave.
