Latest news with #Blockworks
Yahoo
4 days ago
- Business
- Yahoo
Top Pump.Fun Ecosystem Tokens Tumble Amid Reports of $1B Fundraise
Fart-powered joke tokens suddenly weren't so funny for crypto traders on Tuesday. A basket of the largest ecosystem tokens faded from recent highs after Blockworks reported the Solana-based launchpad is pitching a $1 billion token sale that would value the project at roughly $4 billion. Sources told Blockworks the sale could close within weeks, though details on tokenomics remain launched on the platform slipped amid the news. Fartcoin (FARTCOIN), the largest Pump-launched token by market capitalization, dropped 7%. Peanut the Squirrel (PNUT), Moo Deng (MOODENG) and Goatseus Maximus (GOAT) gave back as much as 6%, while Alchemist AI (ALCH) — the big gainer on Monday — flipped red after an early 25% pop. The moves wiped about $150 million in aggregate value, trimming but not erasing the sector's outsized weekly gains. A billion-dollar raise means a new Pump token and, potentially, a fresh supply. Even if the deal channels cash back to users later, traders worry about a flood of 'farm-and-dump' flows hitting the very memecoins the platform helped create. Deeper concerns, however, spread across crypto circles on X as developers and traders questioned the need of a mammoth fundraise. 'Why does pump need to raise 1bn tho? how is it gonna invest that for growth if it already has made 675m and hasnt spent that either what are they planning to do with 1bn?,' DeFiLlama founder @0xngmi wrote. 'The Pump guys went through an accelerator, raised a small round, then proceeded to make almost a BILLION in revenue in 1 year and got a 4B valuation to raise another 1B,' said Mert Mumtaz, founder at Helius, 'Those are simply insane numbers in an insane amount of time.' Only three weeks ago tried to sweeten the pot users looking to issue tokens using the platform by handing 50% of PumpSwap fees — or five basis points of every trade — straight to token creators. At the time, founder Alon Cohen pitched the change as a way to eliminate rinse-and-dump behavior: If developers earn recurring fees, they don't have to dump their own coin on the community. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
5 days ago
- Business
- Business Times
Memecoin platform Pump.fun pursues US$1 billion token sale
[NEW YORK] A platform dedicated to highly speculative cryptoassets is planning to raise US$1 billion by selling tokens, taking advantage of the current wave of positive sentiment buoying digital-asset markets. which has been compared to the edgy 4chan social media network, allows users to quickly create, promote and sell memecoins, a type of token often associated with jokes and memes and sometimes with celebrities and US presidents. The platform, which is based on the Solana blockchain, is still in the early stages of the raise, according to a source familiar with the plans who asked not to be named, discussing private company information. Blockworks first reported on the fundraising effort. If successful, the raise would rank among the largest this year involving crypto firms, trailing only MGX's US$2 billion investment in Binance. Venture capital investment in the sector slowed in the first quarter of 2025 even as a friendlier environment for digital assets emerged in the US under President Donald Trump. Memecoins debuted by Trump and his wife Melania in January have drawn scrutiny in the US, with Democrats calling for an investigation into a dinner put on for top holders of the president's token. In May, Senator Richard Blumenthal of Connecticut, the top Democrat on the Permanent Subcommittee on Investigations, sent letters to Trump-affiliated crypto project World Liberty Financial as well as Fight, Fight, Fight, LLC – which launched his memecoin – seeking information and raising concerns over conflicts of interest. Attorneys for World Liberty pushed back against those claims. has been one of the biggest drivers of the explosive growth in memecoins and the attendant burst in activity on the Solana blockchain in the past year. Retail and professional investors alike have poured billions of US dollars into the sector, and their quest for quick profits has led to lucrative fee streams for founders. Alon Cohen, co-founder of did not immediately respond to a request for comment. Cohen had previously sought to dismiss rumours about a potential token. Memecoins have been at the centre of political controversies in other countries, too. Argentina President Javier Milei publicly promoted a token named Libra in February ahead of a sharp rise and fall in its price. In May, Milei dismantled a task force created to probe allegations of irregularities around that incident. BLOOMBERG
Yahoo
08-04-2025
- Business
- Yahoo
Inside Blockworks' plans to build the Bloomberg of crypto by packaging data and media
The media business is tough: entrepreneurs must navigate fierce competition, fickle tastes and an audience that expects content to be free. Despite all this, Jason Yanowitz believes he has figured out how to build a profitable media business around the niche of crypto, even at a time when leading rivals have stumbled. He says the firm he co-founded, Blockworks, is pursuing a growth strategy that is on track to pull in over $30 million in revenue this year, while adding a new business line of selling data in addition to its existing ones of news, events, research, consulting and podcasts. Since it was founded in 2017, Blockworks has been profitable every year but one. A natural salesman, Yanowitz touts the integrity of the Blockworks brand though at times it combines journalism and sales operations in a way frowned on by traditional media outlets. But even as some may have qualms about its journalistic principles, few would dispute Blockworks is riding high right now—and that it is fast becoming the dominant brand in crypto media. Like other founders in the industry, Yanowitz's ties to crypto are personal. While living in Eastern Europe in 2015, he spent time with Hungarian friends whose parents had seen their savings destroyed by government misrule, and become enamored with the idea of a self-sovereign currency: Bitcoin. While the appeal of Bitcoin was intuitive in Eastern Europe, Yanowitz discovered this was not the case when he returned to the U.S. Working as a venture capitalist, he sought to sell the ideals of crypto to institutions. It did not go well. "I got laughed out of the room every time I brought up crypto," he recalls. At this juncture, he says he realized that, if the traditional finance world was going to take crypto seriously, he needed to build a media brand that felt familiar to those that Wall Street knew already. Yanowitz then launched Blockworks with co-founder, Mike Ippolito, beginning with conferences where bankers and crypto entrepreneurs could meet on the same level. The business got off to a promising start but, after the pandemic decimated Blockworks' revenue by 82%, the founders moved to diversify with podcasts. The decision paid off as Yanowitz says the company's roster of podcasts notched 21 million downloads last year, and became part of a larger flywheel of crypto-focused events, research and a news website. He boasts Blockworks doesn't spend a dime on marketing and has "reverse CAC" (an acronym for customer acquisition costs). Some of Blockworks' journalistic choices, though, raise eyebrows. Those include charging speakers to appear on stage at its conferences: A rate card viewed by Fortune shows that speaking slots range from around $20,000 to appear on a panel to over $100,000 to be the exclusive guest at a fireside chat. While such arrangements are not unheard of in some corners of the media industry, they go against traditional norms since they give rise to conflict of interest concerns, and are derided by some as "pay to play." Meanwhile, a former Blockworks employee, who spoke on the condition of anonymity, said journalists at the company were dismayed that podcast guests have been given the option to excise portions of the recordings before they are released—a practice more in keeping with public relations than journalism. Yanowitz defended the paid stage appearances by saying they account for no more than 20% of conference programming, and that the opportunity was only available to a small pool of credible companies. He added that podcasts had only been edited on five occasions, and that this opportunity had only been offered to financial firms that would otherwise have declined to be interviewed. Yanowitz also emphasized that Blockworks' editorial operations, which numbers around 15 people in a staff of 85, are independent and that audience trust is foundational to its business strategy. The former employee confirmed that the Blockworks' cofounders did not interfere in the day-to-day decisions of the news side. Yanowitz displays a passion bordering on obsession typical of startup founders. When he is not on the ground at the company's Manhattan office or at its conferences across the country, he is constantly online, talking up the virtues of crypto to a large following on X. "I would not bet against Yano, who is a very smart guy," says Josh Quittner, founder of the competing crypto media brand, Decrypt, which has been quick to adopt cutting edge technologies like AI and prediction markets in its news operations. Decrypt appears on solid footing, but other crypto brands have encountered recent headwinds. That includes Coindesk, an industry fixture since 2013 that has been roiled by a recent controversy that saw its owners force editors to take down an article about billionaire Justin Sun, leading to firings and resignations in the newsroom. Meanwhile, Coindesk announced it would move its flagship conference from Austin to Toronto for 2025. The decision to shift venue appears to have a response to the tough regulatory climate in the U.S.—but one that now seems less strategic in light of a pro-crypto shift in Washington, DC. Coindesk's decision to move its main event to Canada comes as another big media brand, Messari, appears to have pulled the plug on Mainnet, a major crypto event in New York City. For Blockworks, whose own events have grown in popularity—the most recent featured a video address from President Donald Trump—these developments offer an opportunity to consolidate its influence. Coindesk and Messari did not reply to a request for comment. Even as Blockworks remains best known for its events and podcast, Yanowitz believes it will be the company's newest business—data—that will become its biggest money maker. The service is an add-on to the firm's existing Blockworks Research service, and comes with a total price tag of $4,500 for an annual license. Yanowitz says Blockworks boosted the price from $2,500 due to hefty demand, which he says came from institutional customers looking for the crypto equivalent of Bloomberg financial data. Blockworks is hardly the first media company that has sought to boost revenue with a data business, nor is Yanowitz the first to aspire to be Bloomberg—whose terminal and messaging service, which costs around $35,000 a year, is the envy of every other media outlet. Yanowitz, though, says Blockworks's data service can succeed in a way other crypto firms' offerings have not by supplying financial institutions with familiar metrics. He claims widely-touted metrics in crypto—such as "total value locked" on a blockchain or active addresses—are highly gameable, and so are not particularly useful. Blockworks, in his view, offers more practical tools based on real world financial and user activity. "There's a reason that the information the whole industry trades on is based on narratives, and it's because the good data is lacking," says Yanowitz. "If you are a ... hedge fund, venture firm, sovereign wealth fund of a big country, and you are buying something like Solana or arbitrum, you need the data behind it, and that data was lacking until Blockworks came around." Yanowitz added that major institutions will have the option to obtain data on Blockworks, or else use APIs to integrate the data with their in-house platforms. He also noted that recent advances in AI have dramatically lowered the cost of building a data service, and that Blockworks Research is the company's fastest growing business segment. This story was originally featured on Sign in to access your portfolio
Yahoo
05-04-2025
- Business
- Yahoo
'Something that looks more like Bloomberg:' Blockworks founder on data, DAS, and the next crypto wave
The modern age is (at least in theory) largely data-driven. Every day, corporations collect billions of data points worldwide from people's age, sex, race, to their favorite brands, foods, and artists. Crypto, still fairly young, provides even more opportunities for data collection and offers new ways to leverage founder, Jason Yanowitz sat down with TheStreet Roundtable during Blockworks' Digital Action Summit (DAS) in New York to discuss how data can be used to help crypto traders and investors. Bloomberg is well known for products like the Bloomberg Terminal, which is used by hundreds of thousands of individuals and businesses for unparalleled insight into stocks, bonds, and other financial systems. For a long time, there hasn't been a comparative tool available to crypto enthusiasts. Blockworks believed that once institutional players entered the market, 'the number of people — especially professionals, investors, and executives—would grow exponentially, and they'd need a better source of information, something that looks and feels more like Bloomberg or the Wall Street Journal, less like 'CryptoPanda' on Twitter,' Yanowitz explained. They have been largely vindicated in that belief, 'It's the fastest-growing area of the business. A couple of years ago, it made up none of the revenue. Last year, about 10% came from data, and this year, about a third of all our revenue will come from the research and data side,' he added. 'We have no retail customers—it's all institutional.' Outside of their data business, Blockworks operates their own media website and puts on multiple events throughout the year, including multiple DAS events around the world. In New York, over 2,500 attendees from mostly, financial institutions. 'You can tell by all the suits; you never wear a suit at a crypto event, 'Yanowitz joked. They also own the largest crypto podcast network in the world, with 25 million downloads across their 10 different podcasts. Sign in to access your portfolio
Yahoo
21-03-2025
- Business
- Yahoo
Donald Trump Reportedly Making 'Big Announcement' For 'Next Steps In Crypto Policy' At Digital Asset Summit On Thursday
President Donald Trump is set to address the Digital Asset Summit (DAS) in New York City later today and is expected to make key announcements related to crypto policies in the United States. This marks the first time a sitting U.S. president will speak at a cryptocurrency conference. What Happened: Hosted by Blockworks, the event has drawn significant attention from the crypto community, with expectations of a major announcement on Trump's next steps for crypto policy. The summit follows Trump's recent pro-crypto actions, including the establishment of a Strategic Bitcoin Reserve, as the industry seeks clarity on regulatory frameworks and economic policies impacting digital assets. Don't Miss: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.26/share with a $1000 minimum. Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — this is your last chance to become an investor for $0.80 per share. Eleanor Terrett, a former Fox Business reporter, shared on X that Trump's appearance might be either a livestream or a pre-recorded speech, noting the fluid nature of the president's schedule. "I'm told this may yet happen but could also be done via a taped recording," Terrett stated, adding, "A big announcement regarding [Trump's] plans for next steps in crypto policy is coming imminently out of the [Blockworks DAS]." The anticipation stems from Trump's earlier moves, such as signing an executive order on March 7 to create a Strategic Bitcoin Reserve using 200,000 seized Bitcoin, valued at approximately $17 billion, and a separate Digital Asset Stockpile for other cryptocurrencies. Hunter Horsley, CEO of Bitwise Asset Management, highlighted the significance of the event on X, stating, "The year America woke up and started to lead in fostering Bitcoin & crypto." The lack of new Bitcoin purchases disappointed some investors, with Bitcoin's price dropping to $86,400 levels on March It Matters: This sentiment aligns with Trump's recent rhetoric, including a Truth Social post on March 20, where he urged the Federal Reserve to cut interest rates to support economic transitions, writing, "The Fed would be MUCH better off CUTTING RATES as U.S. Tariffs start to transition (ease!) their way into the economy. Do the right thing." While not directly mentioning crypto, the post reflects Trump's focus on economic policies that could indirectly influence digital asset markets, especially as the industry looks for signals on capital gains tax adjustments or regulatory clarity. Sources indicate that attendees at the summit, including Ripple (CRYPTO: XRP) CEO Brad Garlinghouse and Strategy (NASDAQ:MSTR) executive chairman Michael Saylor, expect discussions on regulatory frameworks, U.S. competitiveness in the digital asset space, and Bitcoin's (CRYPTO: BTC) role as a store of value. The industry also expects potential announcements, such as eliminating capital gains tax on Bitcoin or expanding government-backed crypto reserves, though these remain unconfirmed. The summit follows Trump's White House Crypto Summit on March 7, where he pledged to make the U.S. the "crypto capital of the world," a promise that has fueled industry optimism despite recent market volatility. Read Next: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share! These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Donald Trump Reportedly Making 'Big Announcement' For 'Next Steps In Crypto Policy' At Digital Asset Summit On Thursday originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
