This coin operates on the Solana network and is integrated with Solana Pay infrastructure, drawing attention as a meme coin. Thanks to Solana-supported payment systems, the shopping process has become fast and low-cost in terms of transaction fees. 

Crypto Data Space and other major crypto media outlets described this development as “an important step for the tangible commercial use of crypto assets.” However, choosing a meme coin instead of a stablecoin for the payment infrastructure sparked debates on whether this is a marketing strategy or a political message. 

$TRUMP Coin Usage Comes with Privileges 

Offering exclusive benefits to token holders has intensified the debates. For example, users holding a certain amount of $TRUMP earned the right to attend a special dinner at the Trump National Golf Club in Washington DC. This raised ethical concerns in the US Senate. 

Senator Elizabeth Warren reacted strongly, calling this development a “corruption feast.” Meanwhile, Senator Jeff Merkley introduced a bill to prevent crypto earnings from becoming a revenue source for politicians. However, Trump’s allies blocked this bill from passing into law. 

Additionally, internal family conflicts surfaced. The “Trump Wallet” wallet project, promoted on the Magic Eden platform, was openly opposed by Trump Jr., Eric Trump, and Barron Trump. They stated that this project has no official connection to them and their names were used without permission. 

Trump’s Influence in the Crypto World is Growing 

This move by Trump could mark a significant turning point in integrating cryptocurrencies into mainstream commerce. It also serves as a notable example to watch closely regarding political figures’ direct involvement in blockchain projects. 

Meanwhile, some crypto analysts predict that the $TRUMP coin may appreciate in value in the short term. However, how the project will evolve depends on public reaction and legal developments. 

The resulting picture shows that the $TRUMP coin is positioned not only as an investment tool but also as the digital extension of the Trump brand. 

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The post Donald Trump’s $TRUMP Coin as Payment in Official Stores! appeared first on Coin Engineer.

Third-Party Review Underway

According to internal Slack messages obtained by Blockworks, Movement co-founder Cooper Scanlon said the team is still “exploring various routes” of the investigation, with nothing definitive yet. A spokesperson confirmed that an external firm is involved but didn’t reveal its identity.

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Movement said the review is “a standard best practice to ensure full transparency and accountability.”

Co-Founder Manche Takes Temporary Leave

Multiple sources confirmed that co-founder Rushi Manche has taken a temporary leave of absence. He missed the company’s recent San Francisco onsite and was reportedly absent from Slack for a few days.

However, Manche told Blockworks he’s still active and conducting ecosystem meetings, claiming his Slack access was restored by Monday evening.

Binance Offboards Market Maker Over MOVE Token

This situation escalates just weeks after Binance removed a market maker over “misconduct” tied to the MOVE token. Although the exchange didn’t reveal the party’s name, crypto sleuth ZachXBT pointed toward Web3Port. Blockworks’ analysis shows Web3Port had recently engaged with Movement Labs’ content online.

The ongoing investigation marks a pivotal moment for Movement Labs. In a volatile industry like crypto, restoring trust through third-party reviews and transparent communication is crucial. Investors and community members should closely monitor developments as the investigation progresses.

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In an official statement shared with Cointelegraph, Dohrnii Labs revealed that it deposited 12,649.99 Dohrnii (DHN) tokens, valued at over $500,000, with Blynex. On March 23, the company agreed to use 8,650 DHN tokens as collateral for a 30-day loan in exchange for 80,000 USDT. However, Dohrnii claims Blynex never delivered the USDT funds.

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Furthermore, Dohrnii alleges that Blynex liquidated the entire 8,650 DHN collateral on Uniswap, receiving 149,151 USDT. This liquidation reportedly caused a significant decline in the token’s market value. Dohrnii Labs also stated that they were unable to withdraw the remaining 4,000 DHN tokens from the exchange.

Blynex Defends Actions as Automated Risk Management

Mike Baskes, co-founder of Blynex, defended the exchange’s actions, claiming they were part of an “automated risk management system.” Baskes explained that their system detected a high risk of significant collateral devaluation, which triggered an immediate liquidation. He also pointed to the limited liquidity of DHN tokens, which he estimated to be around $315,000 at the time of the sale.

Despite these explanations, Dohrnii Labs argued that Blynex’s justification was misleading, emphasizing that the liquidated collateral was nearly double the loan value.

Legal Action in Progress Against Blynex

In response to the incident, Dohrnii Labs has initiated legal proceedings in the UAE and contacted local regulatory bodies such as VARA and ADGM. The company is also considering joint legal action alongside other affected projects.

Dohrnii Labs disclosed that Blynex later offered a settlement, including 80,000 USDT and the withdrawal of 4,000 DHN tokens, on the condition that all legal actions be dropped. Dohrnii Labs rejected this proposal, stating that user funds are not negotiable and the right to withdraw them should never be contingent upon legal agreements.

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The post Dohrnii Labs Accuses Blynex of Unauthorized Token Liquidation! appeared first on Coin Engineer.

Sharp Decline in Revenue

Pump.fun’s revenue started November on an upward trajectory, peaking during the week of November 18–24. According to DefiLlama data, the platform generated $33.83 million in revenue during that week, marking a 60% increase from the previous week and an almost 400% rise compared to the start of the month.

However, for the week of November 25 to December 1, the platform’s revenue dropped significantly. DefiLlama data shows weekly revenue fell to $11.31 million, reversing its upward trend. This figure represents a 66% decline compared to the previous week.

Livestream Feature Sparks Backlash

The revenue drop followed community calls to disable the livestream feature, as users were reportedly engaging in violent acts to boost their token values.

On November 25, Pudgy Penguins safety manager Beau reported that a user had threatened to commit suicide during a livestream if their token didn’t reach a specific market cap. Beau tagged Pump.fun on X, urging the platform to intervene, disable the stream, and provide support to the individual.

Other social media users shared similar incidents. One reported that a man threatened to shoot a dog during a stream, while another mentioned a streamer making threats about a school shooting.

In response to these incidents, the Pump.fun team disabled the livestream feature. In a community note on November 25, the platform acknowledged that these events had “caused concern” and announced the feature would be paused indefinitely until proper moderation could be implemented.

Legal Concerns Emerge

Yuriy Brisov, a partner at Digital and Analogue Partners, stated that the Pump.fun controversy is “a legitimate reason for a criminal investigation and civil lawsuits.”

Meanwhile, Mikko Ohtamaa, co-founder of trading firm Trading Strategy, predicted that Pump.fun could either be shut down quickly by law enforcement or face eventual closure as regulators take years to fully understand the situation.

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