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Jason Derulo Memecoin Promo Spikes JASON 400% – Scam Allegations as Token Plummets Over 50%

Hassan Shittu

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Hassan Shittu

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Jun 2023

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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

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June 24, 2024

Pop icon Jason Derulo is embroiled in controversy after promoting a meme coin, JASON, that plummeted in value shortly after its release. Known for his musical performances, Derulo’s involvement in the volatile meme coin market has initiated a broader debate about celebrity endorsements in cryptocurrency.This incident has sparked more discussion than there has been before about the potential risks and ethical concerns associated with celebrities promoting financial products, leading to both monetary losses for investors and reputational damage for the celebrities involved.

Sahil Arora Gets The Blame, But Derulo Is Caught In CrossfireRecently, Derulo took to X to announce the launch of the meme coin JASON to his 3.5 million followers. Regrettably, the coin’s value dipped by more than 72% minutes after its release, causing widespread dismay among investors and fans.

Damn Sahil got me 🤦🏾‍♂️! That’s ok, that’s motivation to take this all the way! I just bought 20k worth. In this for my fans for the long hall, going to do everything in my power to send this shit to the moon. Updating dex screener shortly. pic.twitter.com/eCJtZlo5yt

— Jason Derulo (@jasonderulo) June 24, 2024

In response to the fallout, Derulo pointed fingers at Sahil Arora, a figure previously linked to cryptocurrency scandals. Derulo, attempting to rectify the situation, tweeted:

“Damn Sahil got me! That’s ok, that’s motivation to take this all the way! I just bought $20,000 worth. In this for my fans for the long haul, going to do everything in my power to send this sh*t to the moon”.

Following that, Derulo addressed the issue in an apology video, expressing his commitment to making the coin’s recovery his “life’s goal.“

❤️‍🔥 pic.twitter.com/UFPbaFSUeH

— Jason Derulo (@jasonderulo) June 24, 2024

Despite his proactive stance, skepticism surrounds Jason Derulo’s involvement with the JASON meme coin. Influential crypto figures, such as SlumDOGE Millionaire and on-chain detective ZachXBT, have cast doubt on Derulo’s claims.

SlumDOGE Millionaire criticized Derulo, stating,

“Bro made $1 million off his rug and put $20,000 back in the chart lol. You’re not stupid or new to crypto, Jason; you know exactly what was happening. Don’t play dumb now.”

The liquidity of the JASON meme coin is alarmingly low, at approximately $211,000, with around 3,190 holders. This situation mirrors other high-profile crypto scams where initial excitement leads to significant financial losses for ordinary investors.

Projects will throw them high 5 fig – low 6 fig for <10 min of work

— ZachXBT (@zachxbt) June 24, 2024

The crypto community’s reaction has been critical. ZachXBT, known for exposing crypto scams, responded to Derulo’s apology video, saying,

“You are not sorry at all. You have promoted so many crypto scams over the years I have lost track.”

ZachXBT further added, “Projects will throw them high 5 fig – low 6 fig for <10 min of work,” in response to a user questioning why artists, who presumably earn from their music, engage in crypto projects. The user expressed hope for legal consequences for such actions.

This incident involving Derulo is not the first of its kind. The accused developer, Sahil, has launched several other celebrity-associated meme coins.

Notably, Sahil Arora, the alleged fraudster behind recent meme coin scams involving celebrities Caitlyn Jenner and Rich The Kid, has reportedly been banned from X (formerly Twitter). Arora’s handle, “@Habibi_Comm,” was suspended following news of his involvement in pump-and-dump and rug-pull schemes through celebrity crypto tokens.

Both Jenner and Rich The Kid have publicly condemned Arora, with Jenner announcing plans to pursue legal action against him both criminally and civilly.

Shiba Inu’s (SHIB) price is down more than 6% on Friday following notable whale profit-taking activity and controversies surrounding the WATER meme coin and American singer Jason Derulo.

SHIB’s decline potentially caused whale sale SHIB whales could be selling their holdings following the recent decline in the crypto market. Data from Lookonchain shows that a whale wallet moved its entire holdings of 1.08 trillion SHIB (worth $18.4 million) to Binance, potentially making a profit of $8.3 million. The whale initially withdrew the 1.08 trillion SHIB stash from Binance between November and December at an average price of $10.07 million.

Read more: Pepe poised for 20% crash

If the whale wallet had sold during SHIB's yearly high in March, its total profit would have been around $29 million. SHIB's 54% decline in the past four months may have prompted the sale.

However, SHIB is trading close to the key price level of $0.0000018, where investors purchased about 417.43 trillion SHIB tokens. Reclaiming this level could serve as a crucial support for the meme coin.

SHIB Global In/Out of the Money

Lookonchain data also reveals that the team behind the meme coin WATER could be dumping the token. The WATER developer moved 844.44 million WATER to 11 new wallets that didn't participate in the token's pre-sale. These wallets have been selling the token, making about 18,600 SOL worth $2.35 million.

Also reads: Is this the end of the Solana meme coin experiment?

Crypto trader @WazzCrypto earlier revealed that the WATER team was behind the BEER meme coin, which crashed over 80% after insiders began dumping the token.

Meanwhile, celebrity artist Jason Derulo appeared to be showing interest in cryptocurrency again following several celebrity meme coin projects launched in the past two months. A recent video on X in which the celebrity indicated his interest in crypto has come under serious criticism, with crypto analyst ZachXBT commenting with screenshots of past "crypto scams" that Derulo had allegedly promoted.

Read more: Controversy surrounding DJT meme coin continues, Martin Shkreli claims Stone “does not know Barron Trump”

A community note under Durelo's post reads:

"This user is a scammer and has participated in many crypto pumps and dumps."

This information comes from analytics firm Bubblemaps, which has been tracking the token’s transactions.

The controversy started when Derulo, whose real name is Jason Desrouleaux, shared the contract address for the Solana-based JASON token on X (formerly Twitter) on June 23. This announcement led to a surge in trading activity, causing the token’s price to rise sharply and then fall quickly, according to DEX Screener.

Sahil Arora, the token’s co-creator, said the events were part of a planned strategy. However, Derulo’s social media posts suggest a different story. On June 24, Derulo tweeted that he had been scammed by Arora but was still committed to the project, stating:

“Damn Sahil got me 🤦🏾‍♂️! That’s ok, that’s motivation to take this all the way! I just bought 20k worth. In this for my fans for the long haul, going to do everything in my power to send this shit to the moon. Updating dex screener shortly.”

Bubblemaps’ Findings Bubblemaps presented evidence that contradicts Derulo’s claims of being deceived. The analytics firm found wallets, allegedly linked to Arora, that held half of JASON’s supply and sold almost everything, making a $180,000 profit after Derulo’s initial post about the token.

1/ Jason Derulo (@jasonderulo) has sold $JASON 🚨

Despite his claims, we doubt Jason Derulo got fooled by Sahil

Let’s look at the on-chain evidence 🧵 ↓ pic.twitter.com/e8PebBDRaO

— Bubblemaps (@bubblemaps) June 24, 2024

Bubblemaps also identified a wallet they believe belongs to Derulo, which received tokens directly from Arora’s wallet and sold about $20,000 worth of the token, despite Derulo’s repeated assurances on social media that he wouldn’t sell.

Arora confirmed Bubblemaps’ claim about the wallet linked to Derulo. When asked about Derulo selling his token, Arora responded with a GIF of influencer Hasbulla saying “business, business”, suggesting the sales were part of a larger plan.

Though Derulo didn’t comment on the issue, he continued to promote the token. Bubblemaps noted that he actively engaged his community, hinted at token burns, and started buy competitions after the initial controversy.

The controversy has had a significant impact on the token’s market performance. JASON’s value increased by 175% over the last day, reaching a market capitalization of $7.7 million. However, it has since dropped by 40% from its peak on June 24, which was slightly over one cent.

Rise of “Celebcoins” The cryptocurrency market has seen a rise in “celebcoins”, digital tokens launched or promoted by celebrities. Andrew Tate, Iggy Azalea, and Caitlyn Jenner are among the celebrities who have created their own digital tokens.

Vitalik Buterin, the co-founder of Ethereum, has criticized the trend, warning that these practices can mislead investors and harm the integrity of the cryptocurrency market.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Doraemon Developer Reportedly Rugs $1.45 Million

Singer-songwriter Jason Derulo got into an online spat with crypto bros this weekend over whether his crypto token is a scam.

“$JASON to a billy,” Derulo tweeted late Saturday, predicting that the value of the Solana-based meme coin inspired by the celebrity would skyrocket. Despite rallying by many multiples in its opening week, the token has since plunged 80% from its June 27 peak, including another 21% on Monday.

JASON wasn’t originally launched by Derulo, but was deployed on Pump.fun, a Solana-based marketplace that claims to prevent rugpulls “by making sure that all created tokens are safe,” with “no presale and no team allocation.”

That hasn’t stopped the JASON token from collapsing lately, nor has it quieted critics in Derulo’s replies, who accuse him of a classic crypto grift.

Rather than quelling their concerns, the superstar said that critics are “spewing nonsense,” spreading fear, uncertainty, and doubt (FUD) and preventing “normal people” from onboarding the space.

This space needs a cleanup crew,” he wrote on Sunday. “My game plan is to onboard and brand build, your game plan is to jerk off in your room and FUD.”

Derulo initially claimed that he was duped into promoting the meme coin by Sahil Arora, who is the alleged mastermind behind a string of celebrity meme coins pump and dumps over the past several weeks. However, Derulo was quickly inspired to “take this all the way,” claiming to buy $20,000 worth of the coin “for the long haul” and purporting to build utility around the token.

“I’m not here to take liquidity out of the market, I'm here to build and bring liquidity into the market,” he said.

The conversation quickly pivoted towards the celebrity’s net worth, and whether this was all still just a pump and dump for a singer in need of more cash. That’s where things got spicy.

“You’re a literal scrub!” Derulo told crypto influencer Crypto Bitlord, who claimed he owned “forgotten altcoin dust” that surpassed the singer’s net worth. “If you met me, I’d either slap the shit outta you or you’d ask for a pic.”

Bitlord then accused Derulo of promoting an “unregistered security” that he got caught dumping on followers.

Derulo maintains that Crypto Twitter is “just hating” on his effort to bring liquidity into the market.

“The grind never stops—if people only knew what we are cooking behind the scenes,” he tweeted on Monday.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

JASON, the Solana-based meme coin of famous R&B artist Jason Derulo, has lost an eye-popping 97%   

In July, Derulo implied that the meme cryptocurrency could end up reaching a market capitalization of $1 billion. 

However, the token's actual market cap currently stands at just a minuscule $1.23 million. 

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It is worth noting that the token was originally launched on Solana-based meme coin factory Pump.fun. Following its launch, the token managed to experience substantial gains. Unsurprisingly, its momentum quickly faded. 

The singer wrote an entire essay about how he saw JASON as a way of building "a true community" for the first time in his career. 

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Derulo himself has attracted backlash from some members of the cryptocurrency community who are convinced that the singer tried to pull off a typical pump-and-dump scheme. 

After being confronted by some cryptocurrency influencers, Derulo urged them to stop spewing "nonsense," adding that he is already rich.    

"Humbly speaking I’m rich af and have a name and brand to protect," he said in a social media post.  

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The personal net worth of the "Whatcha Say" singer is estimated to be $16 million. He has a total of 14 platinum singles in the U.S. 

Derulo is, of course, far from being a crypto newcomer. As reported by U.Today, the famous hip-hop artist claimed that he was "early" to the Shiba Inu craze back in 2021. 

During the same year, Derulo joined the "CryptoPunks gang" when the NFT frenzy was reaching its peak. 

However, Derulo's foray into the celebrity meme coin scene proved to be quite disastrous. 

Hailey Welch’s Hawk Tuah Meme Coin Crashes Minutes After Launch

Crypto-powered gaming platform BC.GAME has seen "a year of unprecedented growth"—and now boasts more than nine million users, according to a report shared with Decrypt.

BC.GAME unveiled a "complete overhaul" of its user interface in 2024, while building upon strategic partnerships with Leicester City FC and Jason Derulo. More developments are set to come, with the launch of the site’s BC token unlocking "even greater rewards and benefits" for players.

Per its report, the site claims to have surpassed 500,000 monthly active users, and now accepts more than 100 cryptocurrencies as a payment method.

Executives say platform activity was given a further boost by the addition of five brand-new games, as well as the launch of the BC Lottery and Telegram-based mini-app Coco Rush.

BC.GAME has also been building momentum in real life, bringing together more than 1,500 players for its Untamed Moments event in Dubai.

The exclusive event "showcased our commitment to creating memorable, immersive experiences for our community and solidified our presence as a leader in the gaming and entertainment sectors," a BC.GAME spokesperson told Decrypt.

BC use casesAccording to BC.GAME, 200 million BC tokens were airdropped to early adopters and loyal users, with a dedicated dashboard offering real-time on-chain data. A further airdrop of 400 million BC tokens to 100,000 wallets on Pump.fun took place on February 18, targeting users who had completed at least 10 transactions on the BC.GAME platform.

Meanwhile, a rewards system means players can earn tokens for logging in on a daily basis, getting involved in their favorite games, and referring friends.

A staking program was also recently launched—giving BC owners the chance to lock up their tokens and receive rewards along the way.

"BC is not just a token—it's a bridge to a more rewarding and inclusive experience for our users," the site's spokesperson told Decrypt.

They added that community support is at the heart of the platform’s offering—meaning that "every advancement, every milestone, and every new feature is driven by our commitment to users."

Looking ahead to 2025Over the coming year, BC.GAME says top priorities include unveiling new use cases for the BC token and making it a part of a wider decentralized ecosystem that extends beyond gaming. DeFi, NFTs and metaverse applications are planned as part of efforts to turn BC GAME into a hub for Web3 entertainment.

Executives added that token distribution will extend further through a second mining campaign, unveiling new benefits for BC token holders and a World Cup Festival packed with exclusive rewards, new games, and VIP privileges for existing users.

Limited-edition items launched in conjunction with BC.GAME's partners—including the Japanese artist Takashi Murakami and Leicester City FC—will also be distributed to the community, including exclusive products that can't be bought in shops.

"With BC Token now in the spotlight, the future has never looked brighter,” a spokesperson said, adding that the platform will “pave the way for the next era of Web3 entertainment."

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Five regional lenders in the United States—Huntington Bancshares, First Horizon, M&T Bank, KeyCorp, and Old National Bancorp—have initiated a major shift in digital finance infrastructure by becoming design partners on Cari Network, leveraging Prividium atop the ZKsync platform. Together, these institutions manage more than $600 billion in total deposits, and their combined move signals evolving priorities in programmable settlement technologies for regulated entities.

Regulated Banks Confront Longstanding Settlement ChallengesThe ongoing transformation in financial markets has exposed persistent issues for banks navigating demands from both regulators and the marketplace. Regulatory agencies require control over participant data and governance, while increasingly digital markets expect instant, round-the-clock settlement. As stablecoin volume climbed to $5.7 trillion in 2024, analysis from the U.S. Treasury suggested this trend could drain up to $6.6 trillion from the banking sector, intensifying pressures on medium-sized lenders whose stability often hinges on deposit retention.

How Prividium and ZKsync Address Privacy and TrustLegacy attempts to modernize settlement have run into trade-offs. Permissioned chains such as JPMorgan Coin preserved internal oversight but lacked connectivity. Public blockchains offered broad access but placed sensitive data on public ledgers, while shared protocols introduced third-party intermediaries, which imposed trust models unsuited for high-stakes financial networks. Recognizing these limitations, network participants are adopting zero-knowledge (ZK) proofs, a cryptographic advance that confirms transactions without revealing underlying details. This eliminates the need for a trusted operator and shifts the source of settlement assurance to transparent mathematical proofs.

Prividium provides the technical framework for banks to each operate their own chain, setting governance and compliance policies internally, while all settlement proof is posted to Ethereum. The design ensures no centralized authority oversees the process, preserving institutional autonomy and maintaining network consensus based on verifiable cryptography rather than contractual obligations.

Cari Network describes itself as an infrastructure initiative for tokenized deposit settlement, designed for regulated banking, and led by founder Eugene Ludwig, who served as the 27th U.S. Comptroller of the Currency. His leadership brings a regulatory lens to network architecture and priorities.

In highlighting the significance of the development, Alex Gluchowski noted,

“Regulated finance is moving to ZKsync.”

By participating as design partners, the five regional lenders position themselves at the forefront of deploying zero-knowledge technology in regulated banking. The decision to avoid closed proprietary systems and instead interface directly with public infrastructure reflects a consensus that mathematical validity, rather than centralized influence, should underpin future settlement operations.

The adoption of ZKsync and Prividium is seen as a response to both market competition from digital assets and the heightened need for verifiable, privacy-preserving settlement. As regional banks respond to shrinking deposit bases and stricter oversight, programmable networks anchored by cryptographic guarantees may become a central feature of the sector’s digital evolution.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

BitGo, a leading provider of crypto asset custody, has teamed up with Ethereum-based scaling protocol ZKsync to create a new infrastructure solution targeting the banking sector. The collaboration aims to empower financial institutions to adopt blockchain-based money transfer processes within a fully regulated framework, bridging the gap between traditional banking and digital assets.

Tokenized Deposits Open New Digital Channels for BanksTokenized deposits have recently taken center stage within the crypto ecosystem, providing banks with an innovative way to manage deposits as digital assets on blockchain networks. This approach keeps funds within the existing banking system, while enabling banks to take advantage of programmable transaction features typically associated with cryptocurrencies. Unlike stablecoins, tokenized deposits allow for the creation of new financial products while operating under current regulatory structures, paving the way for further innovation in the sector.

According to a joint announcement, the platform is already undergoing pilot tests in collaboration with regulated financial institutions. The solution enables banks to offer payment services over blockchain technology without having to independently build or manage complex infrastructure, while ensuring full compliance with regulatory oversight requirements.

Comprehensive Compliance-Driven Digital TransformationThe financial industry has been actively seeking robust solutions to integrate traditional assets with blockchain technology. The stack developed by BitGo and ZKsync provides a comprehensive suite of services tailored to banks and other financial institutions, streamlining the process of adopting blockchain-compatible systems. This allows institutions to accelerate their digital transformation without needing large-scale changes to their existing operations.

Regulatory compliance stands out as one of the primary features of the new infrastructure. The platform is also designed to offer the scalability and transaction throughput necessary to accommodate the high volumes typical of mainstream financial applications, addressing a key challenge for blockchain adoption in the banking sector.

The companies have stated that the new platform is on track to enter broader production environments by the end of the year, aiming for wider deployment and adoption across the industry.

Management from BitGo and ZKsync noted that some financial institutions are already piloting the solution and the goal is to achieve widespread use in the near future.

Bank partnerships for crypto-based payment applications are becoming increasingly visible across the sector. This collaboration could serve as a significant example of how financial institutions are adapting to new technologies and integrating blockchain solutions into their existing business models.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Digital asset infrastructure company BitGo is partnering with ZKsync, a leading Ethereum Layer 2 scaling protocol, to develop fiat tokenization infrastructure for banks. 

The resulting products will be regulatory-compliant and institutional-grade settlements, with all the benefits of blockchain technology – 24/7 availability, instant settlements, security, and privacy.

BitGo brings fiat to blockchainBitGo has been at the forefront of developments in the crypto space since its launch in 2013. One of its best creations is multi-sig wallet technology, which has greatly improved security in the ecosystem and even encouraged institutional uptake of said wallets.

Its latest partnership now addresses the need for banks to tokenize fiat deposits to enable faster settlements and underpin new financial products.

Unlike asset tokenization led by Ripple Labs, this infrastructure will bridge fiat and blockchain without requiring stablecoins.

The project is currently in its testing phase, with high expectations of massive institutional uptake following its official deployment later this year.

The stablecoin dilemmaThere has been a long-standing disagreement between banks and stablecoin issuers on the grounds that stablecoin yields diminish bank deposits.

A draft of the Clarity Act attempted to address this situation, but the latest challenge emerged when Coinbase rejected a ban on stablecoin yields.

While the BitGo-ZKsync partnership does not resolve this issue, it brings a whopping $450 trillion in traditional finance funds to blockchain.

Banks have wanted to modernize settlement and treasury ops for years. The infrastructure just wasn't there.@BitGo x @zksync changes that. Tokenized deposits, institutional custody, always-on settlement. Built for regulated banks, ready to deploy.

👇 https://t.co/Fj7hWo4cpV

— BitGo (@BitGo) March 25, 2026 BitGo stock (NYSE: BTGO) was trading at $10.00 at the time of writing, 2.16% higher than the previous day’s closing price.

Source: MarketWatch

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BitGo and ZKsync build tokenized deposit rails to move banks onchain

Custody specialist BitGo has joined forces with ZKsync to launch a tokenization platform designed to serve banking and regulated financial institutions. The project centers on converting traditional fiat deposits into blockchain-based tokens, aiming to deliver quicker transaction settlement while retaining oversight and security required by compliance-focused enterprises.

Collaboration Targets Next-Generation Banking NeedsBitGo is a well-established provider of digital asset custody solutions, safeguarding crypto and tokenized holdings with a focus on security and regulatory compliance. ZKsync, on the other hand, is a Layer 2 blockchain protocol designed to scale the Ethereum network by offering high-throughput, low-cost transactions secured by zero-knowledge proofs. This alliance blends secure institutional custody with advanced blockchain infrastructure.

The newly unveiled tokenization platform enables banks to issue and manage digital tokens representing fiat deposits directly on blockchain rails. Rather than relying on stablecoins as intermediaries, this model allows banks to process and settle transactions in real time. The system is engineered to function within existing frameworks without forcing banks to undergo disruptive technology migrations, making adoption less burdensome for traditional institutions.

Compliance and Control Central to Network DesignA distinguishing feature of the platform is its compliance-oriented architecture. Permission-based access controls are built into the system, letting financial institutions carefully govern who participates within their networks and aligning the platform with current legal and data protection standards. Unlike open public ledgers, this permissioned approach is expected to satisfy institutional demands for regulatory certainty.

Direct deposit tokenization increases operational transparency and settlement speed, granting banks the ability to process payments at any time while maintaining established controls. By holding custody of client assets within their infrastructure, participating banks avoid the liquidity fragmentation often associated with stablecoins and external crypto vehicles. This approach is designed to reduce potential conflicts between blockchain providers and conventional banking systems.

Testing Phase and Expansion PlansThe platform is currently being piloted with select regulated banks to assess its technical and legal resilience. After the verification phase, both BitGo and ZKsync anticipate expanding the solution for broader institutional access throughout the year. This move comes at a time when financial authorities are reevaluating how blockchain and asset tokenization can fit within established policy regimes.

Layer 2 blockchain technology underpins the system’s ability to process large transaction volumes cost-effectively. This positions the infrastructure as a potential backbone for cross-border payments or new financial instruments, helping banks build programmable finance capabilities while operating within existing regulatory parameters. The measured approach adopted by BitGo and ZKsync may facilitate the entry of more traditional financial institutions into digital asset markets, bridging the gap between conventional banking and blockchain technology.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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5 hours ago

US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

5 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

5 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

5 hours ago

Leadership says the layoffs were driven by changing technical requirements rather than any cost-cutting pressure.

Matter Labs is reshuffling its team as the company moves to a permissioned privacy chain called Prividium.

The layoffs will include senior engineers, designers, and operators who are no longer aligned with the new direction.

Founder Explains Layoff Decision. Alex Gluchowski, the company’s CEO, confirmed the news on social media, noting that the decision followed the company’s 2024 shift toward building products for regulated financial institutions.

“Today we reduced the size of the Matter Labs team. This was my decision, and I want to explain it,” he wrote.

According to him, Prividium has since become Matter Labs’ main focus, with the firm now fully committed to building tools that help businesses move on-chain.

The founder added that as the project developed, the company gained a clearer understanding of what customers needed, which heavily influenced the direction of Prividium and the type of talent required to move it forward. As a result, some roles that made sense during earlier stages of building were no longer the best fit for the firm’s current priorities. This, he said, is what prompted the restructuring decision.

The firm’s website states that Prividium is an Ethereum-based blockchain platform for financial institutions and fintech companies that gives organizations a way to do transactions securely while being compliant. Additionally, the product is built on a privacy-focused, permissioned Layer-2 blockchain powered by zero-knowledge technology.

“To everyone leaving, thank you for what you built here, and for the standard you set,” he concluded.

Alex said the move wasn’t a reflection on the employee’s abilities and contributions, adding that the engineers, designers, and operators impacted were some of the best he has worked with. The workers who left have also reportedly been offered financial help and support as they go through the transition.

You may also like: New XRPL Startup Initiative Launched by Seoul FinTech and XRPL Korea (Report) Vitalik Buterin Reconsiders 2017 View on Full Chain Validation Crypto in 2026: a16z Predicts Major Shifts in Privacy, Security, and Messaging Community Remains Divided Over Job Cuts The community’s reaction to the news has been mixed, with some excited about the project and others asking where the $450 million that Matter Labs raised to develop the product had gone.

“Could you please explain? You raised $450 million in investment to develop the product. Where’s the money? And why are you asking for more and laying people off?” they wrote.

Meanwhile, this isn’t the first time the firm has had to let go of its employees. The company also downsized its team in the midst of a pivot toward privacy-focused tools in 2024, with the firm saying that the restructuring was necessary to align its workforce with new priorities rather than a short-term cost-cutting measure.

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Banana Gun, the popular crypto trading bot, surged to its highest point in almost two months as the volume in its ecosystem rose.

Banana Gun (BANANA) token rose for two consecutive days, reaching an intraday high of $55, up 68% from its lowest level in September.

This rally occurred in a high-volume environment, with most of the action happening on Binance, the largest exchange in the industry. Its 24-hour volume increased by 87% to $56 million.

More data shows that Banana Gun’s open interest in the futures market continued rising, reaching a record high of $30 million. That was a big increase since its futures open interest bottomed at $13 million in September.

The rally is likely due to the platform seeing strong volume. In an X post on Monday, the developers noted that the network had over $137 million in volume last week. It recorded an impressive $23 million in volume on Sunday, indicating that its ecosystem is booming.

https://twitter.com/BananaGunBot/status/1843239812595073096

Banana Gun has become one of the biggest Telegram bot in the crypto industry, handling over $6.7 billion in volume, according to its website. Most of this trading happens on its Ethereum (ETH) ecosystem, followed by Solana (SOL), Blast, and Base. 

Data by Dune shows that Banana Gun has had over 294,000 lifetime users who have executed 11 million trades. Another data by DappRadar shows that the number of unique active wallets rose by 22% in the last 30 days, while volume jumped by 72% to $584 million.

Banana Gun price is soaring Banana Gun chart by TradingView The 4-hour chart shows that the Banana Gun token has been in a strong bull run over the past few days. It flipped the important resistance point at $52.15 on Friday, marking its highest point on Oct. 8.

The token has also remained above the 50-period and 25-period moving averages. Additionally, oscillators like the Money Flow Index and the MACD have pointed upwards.

Therefore, the token will likely continue rising as bulls target the all-time high of $63.45, which is about 12% above the current level.

5 Token Unlocks to Watch This Week

New York, New York--(Newsfile Corp. - June 24, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Zoetis Inc. (NYSE: ZTS) between January 14, 2025 and May 6, 2026, inclusive (the "Class Period"), of the important July 27, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Zoetis securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Zoetis class action, go to https://rosenlegal.com/cases/zoetis-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 27, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and touted growing market share, strong veterinarian adoption, and accelerating sales growth across Zoetis' flagship Companion Animal products and/or failed to disclose that: (1) veterinarian prescription growth and adoption of Zoetis' Librela, a canine pain treatment, were sharply weakening as clinicians became more cautious following FDA safety warnings concerning serious neurological complications in dogs; (2) Zoetis' Simparica Trio was losing significant market share to a lower priced competing canine parasiticide with broader indicated use in a slowing overall market; and (3) Zoetis' dermatology products, Apoquel and Cytopoint, were losing substantial market share to a newly launched competing canine treatment. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Zoetis class action, go to https://rosenlegal.com/cases/zoetis-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302767

Source: The Rosen Law Firm PA

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Justin Sun Invests $30 Million in Trump-Backed World Liberty Financial (WLFI)

INDIANAPOLIS--(BUSINESS WIRE)--Thomas Carr Howe Middle School today celebrated the unveiling of a newly transformed fitness and strength training space made possible through a partnership with Elevance Health and the Impact Fitness Foundation (IFF).

“Strong communities are built when young people have the support and opportunity they need to thrive,” Gail K. Boudreaux, President and Chief Executive Officer of Elevance Health

Share The project marks the fifth consecutive year that Elevance Health and IFF have invested in Indianapolis schools through community fitness initiatives connected to the Elevance Health Women’s Fort Myers Tipoff, a premier collegiate basketball tournament that celebrates the impact of women in sports.

More than 40 Elevance Health volunteers worked alongside representatives from the Impact Fitness Foundation to renovate the school’s fitness and athletic training areas, creating a modern, welcoming environment designed specifically for middle school students. The project included installation of new flooring, fitness equipment, storage systems, and organizational improvements that will support year-round student wellness and athletic development.

But school leaders say the true impact will be measured not by the equipment installed, but by the opportunities it creates.

The renovated facility will serve as the home for expanded strength and conditioning programming, open gym opportunities, and student-athlete development activities throughout the summer and school year. “This space opens the door to opportunities our students simply didn’t have before,” said William Clay, Athletic Director at Thomas Carr Howe Middle School. “We're excited to provide structured strength and conditioning opportunities, create new experiences for our female student-athletes, and help students build habits that support their health, confidence, and success both on and off the field of play.”

The initiative reflects Elevance Health’s commitment to improving whole health by investing in the places where young people live, learn, and play.

“Strong communities are built when young people have the support and opportunity they need to thrive,” said Gail K. Boudreaux, President and Chief Executive Officer of Elevance Health. “Over the past five years, our partnership with the Impact Fitness Foundation and the Elevance Health Women’s Fort Myers Tipoff has helped schools create spaces that promote movement, well-being, and connection. We are proud of the impact we’ve made together and look forward to continuing to empower the next generation to lead healthier, brighter lives.”

The connection to the Women’s Fort Myers Tipoff is especially meaningful this year as Elevance Health and the Impact Fitness Foundation celebrate their fifth year of a partnership dedicated to helping young people thrive through sports and fitness, while advancing the tournament’s commitment to supporting and empowering young women both on and off the court.

“Research consistently shows that girls are more likely to leave sports and organized fitness programs during adolescence,” said Chris Welsh, Founder and President of the Impact Fitness Foundation. “Creating welcoming spaces and intentional programming can make a tremendous difference. We’re excited to see Howe use this facility not only to support athletics, but also to help young people—especially young women—discover confidence, leadership, and a lifelong connection to health and wellness.”

Following the ribbon-cutting ceremony, coaches, staff members, and student-athletes participated in an instructional clinic led by Impact Fitness Foundation trainers to learn proper equipment use, strength-training fundamentals, and best practices for maintaining the new facility.

About Elevance Health
Elevance Health is a lifetime, trusted health partner whose purpose is to improve the health of humanity. The company supports consumers, families, and communities across the entire healthcare journey – connecting them to the care, support, and resources they need to lead better lives. Elevance Health’s companies serve approximately 105 million consumers through a diverse portfolio of industry-leading medical, pharmacy, behavioral, clinical, home health, and complex care solutions. For more information, please visit www.elevancehealth.com or follow us @ElevanceHealth on X and Elevance Health on LinkedIn.

About Impact Fitness Foundation
The Impact Fitness Foundation is a national nonprofit organization dedicated to creating fitness and movement opportunities in underserved communities. Through facility transformations, programming, education, and training, IFF helps individuals of all ages build healthier futures through movement and wellness.

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