Raydium Launches "LaunchLab" to Rival Pump.fun

Raydium has rolled out LaunchLab, a no-code token launch platform that lets users mint tokens and bootstrap liquidity straight into Raydium’s AMM. The release escalates a brewing rivalry with meme coin factory Pump.fun, whose recent DEX launch ended their previous collaboration.

LaunchLab lets creators choose simple or advanced launch modes, pushing tokens through a bonding curve until a liquidity threshold is met. Once that target is hit, tokens shift to a Raydium pool with 90% of liquidity burned and 10% locked for rewards.

The launch also includes incentives for creators and users: 25% of trading fees go to buy back RAY, while traders and platforms earn SOL through referral and fee splits. “LaunchLab is built for growth. Community wins = Ecosystem wins = Solana wins,” reads the announcement.

RAY surged 8% following the news, as users praised the tool’s revenue-sharing model and fast onboarding. Meanwhile, Pump’s PumpSwap has already hit $31.7 billion in volume, making the Solana meme coin war one to watch.

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China Sells Seized Crypto Despite Mainland Ban

Local governments in China have reportedly been liquidating confiscated crypto assets to fund public budgets amid slowing economic growth. Reuters revealed Wednesday that several provinces enlisted private firms to sell these assets offshore, despite the country’s strict trading ban on digital currencies. In one case, Shenzhen-based Jiafenxiang sold over $408 million worth of crypto since 2018 on behalf of local governments.

While trading crypto remains illegal for individuals in China, companies aiding official seizures and sales operate in a legal gray area. Proceeds are often converted into yuan and funneled into public finance accounts, raising transparency concerns. Legal scholars warn this system could be vulnerable to misuse and corruption without stricter oversight.

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Mantra CEO Promises To Burn His Tokens After OM Crash

Mantra CEO John Patrick Mullin pledged to burn all of his personally allocated team tokens in response to the platform’s OM token crashing 90% in one hour. Mullin called it an effort to rebuild trust, saying the burn will form part of a broader supply reduction plan. He added that other team members support the initiative and details will be announced soon.

The crash sent OM from $6 to below $0.40, wiping billions in market cap and knocking it out of the top 100 tokens. Mantra blamed the drop on liquidations by unidentified whales, while critics like Coffeezilla accused the project of manipulating prices through OTC deals and buybacks. Mullin admitted to $20-30 million in OTC sales but denied wrongdoing, insisting no core team sold tokens.

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OKX To Officially Relaunch in U.S. After $500M Settlement

Crypto exchange OKX announced its formal U.S. expansion on Wednesday, launching a centralized platform and wallet app with headquarters in San Jose, California. The rollout comes just two months after OKX reached a $500 million settlement with the DOJ over unlicensed operations. Former Morgan Stanley exec Roshan Robert will serve as U.S. CEO and oversee a phased national launch later this year.

OKCoin users will migrate to OKX as the company ramps up American operations, riding momentum from Trump-era crypto-friendly policies. The DOJ settlement included $84 million in penalties and $421 million in forfeited revenue, but the company faced no allegations of customer harm. OKX said its previous U.S. clients were removed and emphasized regulatory compliance moving forward.

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Data of the Day

Bitcoin’s short-term holder MVRV ratio has dropped to 0.82, signaling that recent buyers are sitting on average losses of 18%. This metric (market value versus realized value) has historically hit similar lows before major market reversals, including in 2022 and mid-2024. At this level, many short-term investors are underwater and increasingly likely to capitulate.

Meanwhile, long-term holders have quietly absorbed over 500,000 BTC since February, outpacing the 300,000 BTC distributed by short-term Bitcoin wallets. The trend suggests that more seasoned investors are accumulating during the downturn, potentially laying the groundwork for a recovery. Analysts view the divergence as a classic signal of weak hands exiting and smart money stepping in.

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More Breaking News

• A UK lawmaker’s X account was hacked to promote a scam token called House of Commons Coin, which peaked at just $24K before being deleted.
• U.S. and Canadian authorities joined forces in “Operation Avalanche” to trace $4.3M in stolen Ethereum from an approval phishing scam targeting compromised wallets.
• Binance's consideration of delisting Zcash sparked backlash from crypto leaders, who say privacy coins are essential to user rights and decentralization.
• Sony’s Soneium will use EigenLayer and AltLayer tech to cut transaction finality from 15 minutes to under 10 seconds, boosting UX and DeFi performance.
• Auradine raised $153M in Series C funding to expand its US Bitcoin mining and AI infrastructure business, bringing its total capital to over $300M.
• The team behind Trump’s TRUMP token withdrew $4.6M to Coinbase just days before a $309M token unlock, raising eyebrows over market timing.
• South Korean presidential candidate Hong Joon-pyo vowed to deregulate crypto “like Trump,” proposing national blockchain adoption and reserve integration.
• Bitwise listed four crypto ETPs on the London Stock Exchange for institutional investors, expanding its European footprint as ETF demand continues rising.

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