Bitcoin Blasts Past $118K, GMX Hack Sees Rare Recovery, and PumpFun ICO Goes Bonkers!

Bitcoin hits a new high, GMX recovers from a $42M hack, and PumpFun's ICO sells out in minutes. Crypto's been wild!

Bitcoin Blasts Past $118K, GMX Hack Sees Rare Recovery, and PumpFun ICO Goes Bonkers!

Hold onto your hats, folks! The crypto world's been on a rollercoaster. Bitcoin smashed records, a major DeFi hack saw a surprising twist, and a memecoin launchpad went absolutely bananas. Let's dive in!

Bitcoin's New High: To the Moon!

Bitcoin's been showing off, hitting a new all-time high above $118,000 on July 11th! Institutional investors are fueling the fire, along with whispers of crypto-friendly regulations coming down the pipeline from Washington. Market confidence is sky-high, but are we getting ahead of ourselves? Some analysts are warning that miner selling and leveraged short positions could lead to volatility.

GMX Hack: A DeFi Redemption Story?

GMX, a decentralized exchange, got hit hard by a $42 million hack on July 9th. Hackers exploited a vulnerability in the GMX V1 protocol. But here's the kicker: after some negotiation, the hacker returned nearly all the stolen funds! GMX offered a 10% 'white-hat bounty', and the attacker took the deal. It's a rare win in the DeFi world, where recovered funds are scarcer than a rational memecoin investor. However, the attacker did launder some ETH through Tornado Cash.

PumpFun ICO: Memecoin Mania!

Speaking of memecoins, PumpFun's PUMP token ICO sold out in just 14 minutes! This Solana-based launchpad raised over $500 million. The demand was insane, with some accounts dropping up to $1 million each. Pump.fun is dominating the memecoin space, proving that sometimes, the most ridiculous ideas are the most profitable. The PumpFun ICO excludes U.S. and UK participants, and requires KYC verification.

Ethereum's Institutional Moment

Ethereum is also attracting institutional attention, with companies like GameSquare and SharpLink diving deeper into ETH investments. This signals a growing belief in Ethereum as a key digital asset for corporate treasuries.

Other News You Might Have Missed

• Vitalik Buterin wants to lower Ethereum's gas cap to boost network security.
• Jack Dorsey launched Bitchat, a decentralized messaging app.
• Trump Media filed for a crypto ETF.
• Ripple's RLUSD stablecoin surpassed $500 million in market cap.
• Justin Sun pledged $100 million to buy TRUMP meme coin.

What's Next?

The crypto market's set for another wild ride. Keep an eye on the SEC's decision on the Cardano ETF and the U.S. House's 'Crypto Week' debates. Bitcoin is eyeing $120,000, but be ready for anything!

So, there you have it! Bitcoin's soaring, hackers are (sometimes) returning funds, and memecoins are still making headlines. What a time to be alive (and invested)!