Pump.fun is preparing to launch its own token, with plans to raise as much as $1 billion in initial sales. According to some reports, the sale could value the project’s token at around $4 billion.
The token will be offered to both private and public investors. Reports suggest the sale could take place within the next two weeks, although no official date has been announced.
BeInCrypto earlier reported that the launch could take the form of either an airdrop or a Liquidity Bootstrapping Pool (LBP). Each option comes with trade-offs, but the project has not yet disclosed which route it will take.
Speculation around the launch intensified today after Bybit renamed a previously listed token. The token, originally called ‘PUMP’, was tied to PumpBTC, a liquid staking protocol for Babylon.
Bybit changed the ticker to ‘PUMPBTC’, leaving ‘PUMP’ available.
Bybit has renamed the ticker for PumpBTC from $PUMP to $PUMPBTC.
This change is exclusive to Bybit and does not affect listings on other exchanges.
This move triggered fresh discussion within the crypto community, with many pointing to a likely token launch by the Solana-based platform. That speculation has now been confirmed.
Pump.fun has not released further technical or tokenomic details yet.
This is a developing story, and more information is expected in the coming days.
Barely two weeks after a hacking incident compelled KiloEx’s suspension, the platform is staging a comeback and offering a compensation plan for affected victims.
The comeback highlights the platform’s resilience even as bad actors remain a consistent threat to the crypto industry.
How KiloEx Will Compensate Victims of $7 Million Hack
The YZi Labs-backed decentralized exchange (DEX) revealed the news in an X (Twitter) post, detailing how it would compensate victims.
“Due to the security incident on April 14, 2025, where KiloEx was exploited by a hacker, some user activities were affected. We are now announcing resolution plans for traders, Hybrid Vault stakers, and VIP users,” wrote the DEX.
In a follow-up Medium post, KiloEx detailed how it would unite traders, Hybrid Vault Stakers, and VIP users.
Instructions for KiloEx Traders
Traders’ limit orders will be canceled while taking profit, and stop losses will be executed as normal. Traders whose positions remained open during the platform suspension will remain active after the KiloEx platform resumes. However, those whose losses increased or profits decreased during this suspension will be fully compensated for the difference.
“Please close your position as soon as possible after the platform resumes,” KiloEx directed.
This directive comes as DEX will calculate compensation based on the platform’s resume time. Accordingly, traders who delay their position closure could incur differences between their actual PnL (profit and loss) and the compensation amount.
Instructions for Hybrid Vault Stakers on KiloEx
Hybrid Vault Stakers’ principal and earnings during the suspension period remain unaffected. The platform recovered and fully reinjected all stolen funds into the Hybrid Vault.
Nevertheless, KiloEx will still, based on eligibility, incentivize this cohort of users with a Special Yield Boost Campaign upon resuming.
“Users will receive an additional 10% APY on top of the base platform yield. The bonus yield will be paid out in USDT,” read an excerpt in the Medium post.
Instructions for KiloEx VIP Users
For this cohort of KiloEx $7 million hack victims, there will be a +1 level upgrade, excluding VIP7 users. However, all affected users, including VIP7, will also get a 30-day VIP status protection period.
Notably, the VIP status was determined based on a real-time snapshot taken at the time of the KiloEx security incident.
KiloEx Details Resumption Plans After Audits and Consultation
BeInCrypto reported that KiloEx suspended its platform following the attack, amidst collaborations with security partners to investigate the breach and track stolen funds.
Like the Zksync incident, it also commissioned a bounty program to encourage whitehat assistance and recover user assets. Following these measures and due diligence, the platform is ready to resume operations.
“KiloEx is coming back! Following a thorough security audit by SlowMist, we are officially resuming soon,” the DEX shared.
Blockchain security firm SlowMist corroborated the report, detailing its involvement in resolving the KiloEx incident.
“Recently, SlowMist helped KiloEx communicate with the attacker via on-chain messages, leading to the recovery of $8.44 million in stolen funds,” SlowMist wrote.
Further, the security firm highlighted the role of on-chain messaging in the recovery, presenting it as a crucial communication tool in blockchain, including security incidents.
Despite the news about resumption and compensation, KiloEx’s native token, KILO, is down by over 5%. As of this writing, it was trading for $0.0425 on CoinGecko.
Jay Clayton, Trump’s next pick for the SDNY’s US Attorney, originally filed the SEC’s lawsuit against Ripple. Clayton promised to end crypto crackdowns at the SDNY but personally started one of the most notorious incidents.
Trump is also planning to use a procedural loophole to avoid a messy confirmation process, which Senator Chuck Schumer swore to block. This incident raises questions about the quality of crypto’s new political allies.
He originally tapped Jay Clayton for this role in November, and he actually became Acting Attorney today. There’s just one concern — Jay Clayton initially filed the SEC’s action against Ripple.
The SEC vs Ripple case is considered a landmark action of the Gensler era, but Clayton actually initiated the suit. Clayton served as the SEC’s Chair from 2017 to 2020, and he resigned more than six months before his term limit.
He filed the SEC suit on December 22 and resigned the very next day in what the company called a “parting shot.”
A few years later, Clayton’s on the other side of government crypto crackdowns. When Trump first tapped him for the role last November, a spokesman claimed that the office would cease crypto enforcement actions.
In 2023, Clayton made televised interview appearances criticizing Gensler’s crackdowns, which infuriated Ripple CEO Brad Garlinghouse.
Watching this clip makes my blood boil.
The hypocrisy is shocking. @CNBC@SquawkCNBC should be calling him out for the bullshit.
(As a reminder, jay clayton brought the case against ripple, me and Chris Larsen. And left the building the next day).
Today, no representatives from Ripple commented on Clayton’s new role, but it is likely to ruffle feathers all the same. Specifically, the process to get a nominee confirmed by the Senate can be grueling.
According to local media, Trump named Clayton the Acting SDNY US Attorney, intending him to occupy the permanent role. Trump first nominated him last week, and Senate Minority Leader Chuck Schumer vowed to block his confirmation.
Schumer claimed Clayton “has no fidelity to the law.”
Regardless, Clayton doesn’t need a confirmation vote to become Acting US Attorney, and he probably won’t need one. If the Senate won’t confirm him in 120 days, judges in the SDNY can appoint him until a nominee gets confirmed.
Trump doesn’t actually need to nominate anyone else, and Clayton could serve a regular term.
This is a very illustrative example of how much political power crypto has gained. Jay Clayton, the man who literally initiated the Ripple suit, will work against future enforcement. And yet, this doesn’t seem like an unambiguous good.
How much can the industry truly rely on its former enemies? How many of crypto’s friends today would gladly join a crackdown tomorrow? These are just some of the concerns among the crypto community.
