Andreessen Horowitz’s crypto investment arm, a16z, has committed $50 million to Jito, a leading liquid staking protocol on the Solana network, valuing the project at approximately $800 million. This landmark investment represents one of the most significant late-stage financings in the Solana ecosystem and signals strong institutional confidence in liquid staking technology despite ongoing regulatory scrutiny. The deal involves a16z receiving JTO tokens at a discounted rate in exchange for long-term alignment with the protocol’s development.
about a16z Invests $50M in Solana's Jito Protocol at $800M ValuationJito Labs
0 in Finance and 0 in Crypto last weekSEC Guidance Paves Way for Staking in Crypto ETFs
The US Securities and Exchange Commission (SEC) has issued new guidance on liquid staking, raising expectations that staking could soon be permitted within spot crypto ETFs. Nate Geraci, co-founder of The ETF Institute, described this as the ‘last hurdle’ before approval, with liquid staking tokens (LSTs) enabling liquidity management. The SEC’s Division of Corporation Finance clarified that, under certain structures, liquid staking does not involve securities offerings. Industry leaders, including Jito Labs CEO Lucas Bruder, praised the SEC’s nuanced understanding and anticipate broader use of LSTs in financial instruments like ETFs. The guidance follows a May 29 staff view that protocol staking does not require registration, though the SEC noted its stance applies only to specific scenarios. This development could streamline the approval process for staking-enabled ETFs.
about SEC Guidance Paves Way for Staking in Crypto ETFsPump.fun Token Plummets Amid Airdrop Delay and Legal Woes
Pump.fun’s official token, PUMP, has plummeted to $0.0028, losing over 57% of its value since its peak. The decline was exacerbated by co-founder Alon Cohen’s announcement that the promised airdrop won’t happen soon, leading to investor frustration. Meanwhile, a class-action lawsuit alleges Pump.fun operated as an unregistered securities exchange, with claims of $5.5 billion in customer losses. Despite the downturn, some analysts speculate a potential rebound, citing similar past recoveries in the memecoin market. The platform, which raised $600 million in its token sale, remains a focal point of legal and market scrutiny.
about Pump.fun Token Plummets Amid Airdrop Delay and Legal WoesSolana Developers Target Market Microstructure with ACE
Solana’s developer ecosystem, including key figures like co-founder Anatoly Yakovenko, is prioritizing changes to the network’s market microstructure through Application-Controlled Execution (ACE). ACE allows on-chain applications to dictate transaction execution order, addressing what developers call the ‘single most important problem in Solana today.’ This shift could enable features like sniper protection for token launches and improve overall market efficiency. The roadmap includes short-term updates like Jito’s Block Assembly Marketplace and long-term developments such as Anza’s Alpenglow consensus protocol, aiming to reduce latency and simplify development. The goal is to create a flexible foundation for optimal market structure by 2027, fostering Solana’s growth as a hub for high-liquidity markets.
about Solana Developers Target Market Microstructure with ACEPump.fun Accused in $5.5B Memecoin Casino Lawsuit
An amended class-action lawsuit filed in the Southern District of New York accuses memecoin platform Pump.fun and its Solana-based partners of running an unlicensed digital casino, allegedly siphoning over $5.5 billion from users through deceptive schemes. The complaint likens Pump.fun’s operations to a ‘front-facing slot machine cabinet,’ targeting volatility and hype rather than investor protections. Defendants include Pump.fun’s pseudonymous developer Bernie, parent company Baton Corp., and Solana-linked entities like Solana Labs, the Solana Foundation, Jito Labs, and the Jito Foundation. The case alleges a coordinated enterprise violating financial regulations, raising concerns over accountability in the memecoin market.
about Pump.fun Accused in $5.5B Memecoin Casino LawsuitSolana Surges Past $200 as Institutions Eye ETF Potential
Solana’s (SOL) recent climb above $200 reflects growing institutional interest, driven by ETF speculation and infrastructure improvements like Jito Labs’ Block Assembly Marketplace (BAM). Analyst Shawn Young notes SOL’s 34% July surge, outperforming Bitcoin and Ethereum, as evidence of a maturing network. With $73M in pre-ETF commitments and corporate wallets absorbing 3M SOL, Solana’s $100B market cap cements its status as a high-beta blue chip. Technical upgrades addressing reliability and MEV, combined with ETF momentum, could sustain SOL’s rally toward $230—barring shocks. Failure to breach $210, however, may trigger a retest of $185. Young argues Solana’s fundamentals, not just sentiment, now drive its case, positioning it for a potential capital rotation into altcoins.
about Solana Surges Past $200 as Institutions Eye ETF PotentialSolana Surges Past $200 on ETF Inflows & Corporate Buys
Solana (SOL) has broken above $200 for the first time since February, fueled by institutional demand from ETFs and corporate buyers like DeFi Development Corp, which acquired $198M worth of SOL and staked it. The REX-Osprey SOL + Staking ETF has also surpassed $100M in AUM, boosting market confidence. Technical indicators reveal strong bullish momentum (RSI at 80.43, MACD widening), though overbought signals hint at possible pullbacks. Network fundamentals remain robust, with TVL hitting a six-month high of $10.3B (+63% since April) and active addresses rising. Jito Labs’ upcoming Block Assembly Marketplace (BAM) upgrade, aimed at reducing MEV and improving throughput, adds to Solana’s bullish narrative. With SOL now just 32% below its ATH, resistance near $250 is the next key level to watch.
about Solana Surges Past $200 on ETF Inflows & Corporate BuysJito Labs Proposes Block Assembly Marketplace for Solana
Jito Labs introduced a proposal for a Block Assembly Marketplace (BAM) on Solana, designed to enable advanced transaction sequencing for applications like central-limit order books and perpetual exchanges. The system leverages BAM Nodes and Trusted Execution Environments to ensure privacy and auditability while curbing harmful MEV. Applications can customize execution via plugins, with revenue shared among node operators, validators, and the Jito DAO. The phased rollout includes alpha testing by key validators, with plans to decentralize governance. Jito envisions Solana becoming a ‘decentralized Nasdaq’ by attracting institutional order flow. The proposal is now open for community feedback before production testing.
about Jito Labs Proposes Block Assembly Marketplace for SolanaSolana Upgrades Aim for Long-Term Health but Challenge Validator Earnings
Solana’s upcoming protocol upgrades, set for a vote in March, aim to enhance network sustainability but may drastically reduce validator earnings by up to 95%. The first proposal introduces a mechanism for distributing priority fees to stakers, while the second adjusts the inflation rate to align with the percentage of staked tokens, potentially lowering selling pressure. These changes come amid calls for regulatory approval of SOL exchange-traded funds (ETFs), with Bloomberg Intelligence estimating a 70% chance of approval by 2025.
about Solana Upgrades Aim for Long-Term Health but Challenge Validator EarningsSEC Task Force Engages Crypto Firms on Regulatory Framework Changes
The SEC’s crypto task force, led by Commissioner Hester Peirce, is engaging with industry leaders to discuss potential regulatory changes for cryptocurrencies, suggesting a reevaluation of their classification as securities. Recent meetings included firms like Paradigm Operations and Zero Hash, and the SEC has dropped investigations into Robinhood Crypto and OpenSea, with a possible case dismissal for Coinbase on the horizon. As the agency navigates leadership transitions, it appears to be leaning towards a more industry-friendly regulatory approach.
about SEC Task Force Engages Crypto Firms on Regulatory Framework ChangesTax Probes and Fraud Charges Impacting Crypto and Financial Markets
Pantera Capital founder Dan Morehead is under investigation by the US Senate Finance Committee for potentially exempting over $850 million in profits from US taxes after relocating to Puerto Rico. Morehead maintains he acted appropriately regarding his tax obligations.In Argentina, President Javier Milei faces fraud charges for promoting the crypto asset Libra, which saw a brief surge in value before plummeting over 94%, leading to accusations of a pump-and-dump scheme. Meanwhile, the SEC has requested an additional 28 days to respond to Coinbase’s appeal in an ongoing lawsuit, while its new crypto task force is engaging with industry representatives to discuss regulatory issues. SEC Commissioner Hester Peirce stated that memecoins like Official Trump fall outside the agency’s jurisdiction, as significant losses were reported by investors.
about Tax Probes and Fraud Charges Impacting Crypto and Financial MarketsSolana’s Potential Rebound and Market Outlook for 2024
Solana is poised for a potential rebound after hitting a low of $190, with analysts suggesting it could reach $340 if it follows Ethereum’s trajectory. A double bottom pattern indicates a bullish reversal, with key resistance at $210 and targets at $230 and $245. Growing adoption and innovative financial products further bolster its prospects, with some forecasts predicting a rise to $520 by the end of 2025.
about Solana's Potential Rebound and Market Outlook for 2024