Venture Capitalist (VC) firms are coming back to crypto, and Dutch investment firm, Theta Capital Management, has raised $175 million to prove this. Rather than investing directly in blockchain start-ups, the fund focuses on crypto-based venture capital firms. The fund, tagged Theta Blockchain Venture IV, is the fourth in a series that helps crypto-focused VC firms secure the backing they need to invest in blockchain startups. Source: Galaxy Theta Capital Targets Crypto-Focused VCs Theta Capital, founded in 2001, has actively participated in the crypto market since 2018. The Amsterdam-based investment firm currently manages over $1 billion in assets. The new investment fund reflects Theta’s belief that crypto-native VCs, companies with deep roots in crypto, are better equipped to spot early opportunities than generalist investors. According to Ruud Smets, Theta’s managing partner and chief investment officer, “Their (crypto-native VCs) early advantage and experience have compounded over time, making it hard for… Read More at Coingape.com
Solana’s meme coin creation platform Pump.fun has continued its transfer of SOL tokens. The platform recently transferred 196,370 SOL, worth approximately $25.3 million, to the Kraken exchange.
Additionally, Pump.fun’s daily fee revenue dropped from around 12,000 SOL, or $2 million per day, in February 2025 to less than 1,000 SOL, or $100,000 per day, in March, a 95% drop.
Pump.fun Transfers SOL to Kraken
According to EmberCN, the recent 196,370 SOL transfer consisted of two main transactions of 78,000 SOL and 118,370 SOL.
“The SOL that PumpFun transferred to Kraken today is only a small portion of the fee income from the past three weeks. In addition, there are 120,000 SOL that PumpFun redeemed as pledged SOL,” EmberCN reported.
Recent SOL transfers from the Pump.fun Fee wallet. Source: EmberCN
As of January 2025, Lookonchain reported that Pump.fun had transferred 1.56 million SOL to Kraken. With SOL prices ranging from $180–$200 in Q1, this amount was valued between $281 million and $313 million. With the latest transfer, the total SOL sent to exchanges now reaches approximately 1.76 million SOL, worth around $219 million at current prices.
Declining Revenue at Pump.fun
Moreover, EmberCN further highlighted that in February 2025, Pump.fun’s daily fee revenue averaged 12,000 SOL per day or approximately $2 million per day. However, as of March 2025, revenue has dropped below 1,000 SOL per day, marking a 95% decline.
Previously, Dune Analytics data showed that Pump.fun generated 72,506 SOL in revenue on January 1, 2025, a 30% increase from its previous peak of 55,000 SOL in November 2024.
Pump.fun’s cumulative fee revenue is estimated to be nearly $600 million at the time of writing. A portion of this revenue appears to have been moved or sold.
The drastic fee decline is likely due to fading interest in meme coins. The meme coin craze on Solana peaked in late 2024 and early 2025. However, recent token performance on Pump.fun has failed to meet expectations. Only a small percentage of Pump.fun tokens reach wider markets like Raydium.
Previously, Pump.fun also contributed to the market boom by creating over 600,000 new tokens in January 2025. However, competitive platforms like Four.meme have captured community interest, despite suffering from hacks. Over the past 24 hours, six tokens launched on Four.meme have exceeded a $1 million market cap, while only one token on Pump.fun reached that threshold.
Moreover, according to EmberCN, PvP trading enthusiasm in SOL has plummeted, reducing transaction volume on Pump.fun.
The 95% revenue drop from February to March 2025 signals a potential downturn. Pump.fun’s heavy reliance on meme coins makes it vulnerable to market shifts. Meme coin market capitalization has dropped substantially, signaling a possible end to the “supercycle” of explosive growth. The ongoing SOL transfers to Kraken could indicate sales preparations, potentially putting downward pressure on SOL prices.
At the time of BeInCrypto’s report, SOL price is trading at $124.05.
The PUMP Token is under fresh selling pressure, shedding 12% in a single day after its cofounder stated that the highly anticipated airdrop won’t be happening anytime soon. PUMP Token Drops 12% Amid Airdrop Delay PUMP price tumbled 12%, slipping below its initial ICO level after Pump.fun cofounder Alon Cohen revealed that while an airdrop
Americans now own more Bitcoin than gold, with approximately 50 million Americans holding Bitcoin compared to 37 million owning gold.
The trend of viewing Bitcoin as a reserve asset alternative to gold is growing. Bitcoin is becoming integral to the US’s economic plans, purchasing policies, and financial systems.
Bitcoin Surpasses Gold in US Ownership
A May 20 report from Bitcoin investment firm River emphasizes that the US is leading the way in Bitcoin adoption, with significant investments and infrastructure supporting its dominance. Bitcoin’s outperformance over gold in American ownership marks a significant milestone, signaling a major shift in public perception of investment assets.
America is the global Bitcoin superpower. Source: River
The report also highlights that the US is at the forefront globally in adopting Bitcoin, with 40% of global Bitcoin companies headquartered there. Also, American firms account for 94.8% of all Bitcoin owned by publicly traded firms worldwide.
This reflects the US’s strong investment in Bitcoin infrastructure, from startups and ETFs to policies supporting cryptocurrency.
Another noteworthy point is the trend of considering Bitcoin as a modern reserve asset alternative to gold. River’s report shows that Bitcoin is becoming an “underestimated pillar” of American economic dominance.
With 790 billion USD worth of Bitcoin held by Americans, Bitcoin is not just an investment asset. It is also integrated into the nation’s economic plans and financial systems.
“Bitcoin is an underestimated pillar of American dominance. Americans have a larger estimated share of the bitcoin supply than of global wealth, GDP, or gold reserves.” River stated
Nearly 50 million Americans own Bitcoin, while the number of gold owners is almost 37 million. Source: River
Growing confidence in Bitcoin is reinforced by factors such as the ease of digital storage and transfer and expectations that the US might establish a strategic Bitcoin reserve, as proposed by some politicians. This indicates that Bitcoin is gradually reshaping how Americans perceive safe-haven assets during economic uncertainty, surpassing the traditional role of gold.
Moody’s US credit downgrade ends a century of top ratings, boosting Bitcoin’s appeal as a hedge against fiscal instability.
However, this shift also raises questions about sustainability and risks. While Bitcoin is considered a safe haven asset, its price volatility may make some investors cautious.
