Hey everyone, Will here—Chief Analyst at Phenom Ventures. This week, we're witnessing two significant events in the crypto world: Circle's IPO and Pump.fun's rumored token sale.

Circle's IPO:

Circle Internet Group, the issuer of the USDC stablecoin, is set to go public on the New York Stock Exchange under the ticker "CRCL." The company plans to offer 32 million shares at a price range of $27 to $28, aiming to raise up to $880 million and achieve a valuation of approximately $7.2 billion. The IPO is reportedly oversubscribed by 25 times, indicating strong investor interest. This IPO could be a great trade judging by the over subscription and the stablecoin legislation currently going through congress.

Pump.fun's Rumored Token Sale:

Pump.fun, a Solana-based memecoin launchpad, is reportedly planning a token sale to raise $1 billion at a $4 billion valuation. The platform has facilitated the creation of nearly 11 million tokens and generated over $700 million in revenue. While the token sale has not been officially confirmed, speculation suggests it could occur within the next two weeks, potentially including an airdrop for users. This development could significantly impact the memecoin ecosystem and the broader crypto market. Pump was a huge success over the last year but their revenue has cratered over the last few months. This could be a last ditch for the founders to extract money.

As always, we'll keep a close eye on these developments and provide insights into their implications. Now scroll down for more of this weeks crypto news.

Cheers,

Will

READING CORNER

A collection of longer form content we are consuming this week 

Check out our mining sector newsletter Gold Investment Letter 

NEWS

Quick Hitters from the week

1. Pump.fun Targets $1B Raise at $4B Valuation With Token Sale
   Meme coin launchpad Pump.fun is reportedly looking to raise $1 billion via token sale, pegging its valuation at $4 billion. Yes, even the meme factories are unicorns now.
   🔗 Read more

2. Tiny Fintech Firm Launches $100M Crypto Treasury Strategy
   A little-known fintech player is rolling out a $100 million treasury strategy centered around BTC and ETH, marking another step in institutional crypto adoption from unlikely places.
   🔗 Read more

3. Trump’s Crypto Wallet Gets Namechecked in Magic Eden Listing
   A wallet linked to Trump’s crypto holdings was referenced in a Magic Eden listing, as crypto sleuths try to trace the former president’s growing memecoin empire.
   🔗 Read more

4. World Liberty Financial Airdrops $1 Stablecoins to WLFi Holders
   The Trump-adjacent crypto project is giving away $1 worth of stablecoins to each WLFi holder, as it tests new mechanics for its proposed airdrop platform.
   🔗 Read more

5. US Military Backs Strategic Bitcoin Reserve, Says Sen. Lummis
   According to Sen. Cynthia Lummis, US military leadership now supports the idea of a national Bitcoin reserve — a shift that could signal serious institutional backing for BTC at the highest levels of government.
   🔗 Read more

6. Crypto’s Most Watched Whale Gets Wrecked After Risky Bets
   One of crypto’s most followed whales was fully liquidated after making billions in high-risk trades. The wipeout underscores just how unforgiving leverage can be — even for the whales.
   🔗 Read more

7. Circle IPO Pricing Could Exceed $28 Amid Soaring Investor Demand
   Circle, the issuer of the USDC stablecoin, is experiencing overwhelming investor interest in its upcoming IPO. The company has received orders exceeding 25 times the number of shares available, prompting expectations that the IPO pricing could surpass the initial $27–$28 range. Major institutional investors like BlackRock and Ark Invest are reportedly among the buyers.
   🔗 Read more

8. Meta Shareholders Overwhelmingly Reject Bitcoin Treasury Proposal
   Meta Platforms Inc. shareholders have decisively voted against a proposal to add Bitcoin to the company's balance sheet. The proposal garnered only 3.92 million votes in favor, representing a mere 0.08% of the total, while nearly 5 billion votes were cast against it. The initiative was introduced by Bitcoin advocate Ethan Peck, who has also targeted other tech giants with similar proposals.
   🔗 Read more

9. French Crypto Kidnapping Mastermind Nabbed in Morocco
   The 24-year-old alleged leader of a brutal crypto kidnapping ring in France was arrested in Morocco, following a spree of violent abductions targeting crypto holders. The group reportedly extorted victims using physical mutilation and ransom demands.
   🔗 Read more

10. JPMorgan Eyes Crypto Collateral and ETF Financing
    JPMorgan is reportedly preparing to offer financing for crypto ETFs and is considering letting clients use crypto assets as collateral for loans — a notable shift in attitude for the banking giant.
    🔗 Read more

THE TWITTERVERSE

A collection of the most interesting stuff on Crypto Twitter this week

MEMES

For the (crypto) Culture

📣 Share with your friends and get free stuff! 📣

If you like Phenom Crypto maybe someone you know would as well.

As a way to say thank you in case you refer someone, we’ve built a referral program. Check out our current reward milestones below!