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THE BLOCK: Pump.fun offers up to $5 million salary for chief legal officer role

Baton Corporation, the development company behind memecoin launchpad Pump.fun, is seeking a Chief Legal Officer at a base salary of $1M to $5M, a compensation band that puts the hire among the best-paid legal executives in crypto.

Baton Corporation, the UK-headquartered development company behind Pump.fun, is recruiting a Chief Legal Officer at a base salary of $1M to $5M, co-founder Alon Cohen posted Wednesday on X.

A $1M base floor for a CLO is well above the median for senior in-house legal executives at most crypto firms; the $5M ceiling rivals packages at major US investment banks. Per the job posting, the hire will lead regulatory engagement, respond to agency inquiries, and represent the company in proceedings alongside outside counsel.

The job posting describes Pump.fun as processing "$300M+ daily volume" and says the platform generated "more than $500M in profit" last year "with a team of fewer than 100 people."

Baton describes itself as "one of the fastest growing crypto platforms in history" and cites ambitions to build a "global consumer brand that tokenizes the world's highest potential, early-stage ideas."

The CLO will sit alongside an existing General Counsel and take on four core domains: US digital-asset regulatory affairs covering SEC, CFTC, FinCEN and OFAC; product and commercial counsel; corporate governance across Baton's UK parent and any US or international subsidiaries; and cross-border compliance spanning UK FCA, EU MiCA and APAC jurisdictions.

The posting also calls for oversight of AML/KYC programmes and management of litigation, class actions and law enforcement requests.

Pump.fun has previously drawn attention for its content policies after its GO Bounty platform launched to immediate backlash. The Defiant has also covered the platform's revenue model, including a 50% revenue buyback-and-burn initiative announced earlier. The new CLO hire adds a legal infrastructure layer to what has, until now, been a lean headcount operation.

Aster has overhauled its tokenomics model, directing nearly all platform revenue toward ASTER buybacks while introducing a long-term burn mechanism that could remove up to 5 billion tokens from supply.

The protocol announced on June 17 that 99% of daily platform fees will now be automatically used to purchase ASTER on the open market. All bought-back tokens will be distributed to veASTER stakers as additional rewards. At the same time, an equal amount of ASTER will be burned from reserve allocations.

The change links protocol activity directly to token demand and introduces a supply-reduction strategy that continues until ASTER’s total supply falls to 3 billion tokens.

Buybacks now tied directly to platform revenue Under the new model, Aster will use 99% of daily platform fees to buy ASTER through an automated time-weighted average price [TWAP] mechanism.

The purchased tokens will be sent to a public buyback wallet before being distributed to veASTER holders during reward epochs.

The buyback rewards will be added to the protocol’s existing 300,000 ASTER base loyalty rewards, increasing staking incentives as platform activity grows.

Aster also said revenue generated from permissionless spot listings will contribute to the program. Every listing incurs a 50,000 USDT fee, which will be used to purchase additional ASTER for staking rewards.

Burn program targets supply reduction The protocol simultaneously introduced a burn mechanism tied directly to buyback activity.

For every ASTER token purchased through the revenue-backed buyback system, an equal amount will be burned from reserve allocations.

According to the update, tokens from the team allocation will be burned first before other reserve categories are used.

Burns will be executed every two weeks and continue until ASTER’s total supply reaches 3 billion.

Based on Aster’s current maximum supply of 8 billion ASTER, the long-term target implies a potential reduction of up to 5 billion tokens.

Community remains largest allocation The update also reaffirmed Aster’s broader token allocation structure.

According to the project, 53.5% of ASTER’s supply remains allocated to community rewards and airdrops. 30% is reserved for ecosystem growth, partnerships, liquidity incentives, and staking programs.

The treasury allocation accounts for 7% of supply, with 5% reserved for team contributors and advisors and 4.5% allocated to liquidity and exchange listings.

The team allocation remains subject to a 12-month cliff followed by 40 months of linear vesting.

Final Summary Aster will use 99% of daily platform fees to buy back ASTER, with purchased tokens distributed to veASTER stakers. The protocol will burn an equal number of reserve tokens for every ASTER bought back, aiming to reduce the long-term supply from 8 billion to 3 billion tokens.

Decentralized Finance (DeFi) tokens exhibit mixed signals on Wednesday, with Uniswap (UNI) slightly pulling back from an early-week rally to highs around $3.73, while Aster (ASTER) extends its recovery near $0.80. Bitcoin (BTC) holds above $65,000 following a rejection at June highs around $67,000.

The segment’s total market capitalization remains just under $70 billion, up 5% over the past 24 hours. Block Street (BSB), Magma Finance (MAGMA), and TRIA (TRIA) are also among the best-performing tokens, according to CoinGecko.

In the meantime, investors remain cautious ahead of the Federal Reserve’s (Fed) interest rate decision later in the day, which is widely expected to leave rates unchanged in the 3.50%-3.75% range.

Traders will be closely monitoring Fed Chair Kevin Warsh’s post-meeting press conference for forward guidance, as surging inflation, now at a three-year high, heightens sensitivity to any signals on future monetary policy.

On the bright side, the United States (US) and Iran are scheduled to sign the Memorandum of Understanding (MoU) on Friday to end the war in the Middle East. The expected reopening of the Strait of Hormuz and the removal of the naval blockade on Iranian ports would ease pressure on global Oil and Gas prices, which had stayed high since the war started. West Texas Intermediate (WTI) Crude Oil is priced at $76, down from June’s high of $95 and $113 recorded in March.

WTI Oil price chart1. Uniswap holds higher support as derivatives scale upUniswap trades above the $3.00 short-term support following a correction from highs around $3.73. The DEX token exploded following Standard Chartered’s prediction that institutional adoption of its blockchain infrastructure could push it above $6.00 by the end of this year and to $100 by 2030.

Retail appetite for UNI derivatives returned, amounting to a perpetual Open Interest (OI) of $212 million on Wednesday, up from $168 million the day before. CoinGlass data shows a narrowing to $144 million on Friday, underscoring the surge in retail demand. If investors continue to increase risk exposure by opening new positions, UNI may resume its uptrend, targeting highs above $4.00.

Uniswap Futures OI | Source: CoinGlassUniswap remains capped in the short term, holding below the 100-day Exponential Moving Average (EMA) at $3.37 and the 200-day EMA at $4.18, keeping the broader bias tilted to the downside despite the recent rebound. The Moving Average Convergence Divergence (MACD) histogram is in positive territory on the daily chart, while a firm Money Flow Index (MFI) near 63 suggests improving upside momentum within this still constrained setup.

UNI/USDT daily chartOn the topside, initial resistance comes at the 100-day EMA near $3.37, and a sustained break above this barrier would expose the 200-day EMA around $4.18 as the next medium-term cap. Looking down, immediate support lies at the 50-day EMA close to $3.06, with the Parabolic SAR level near $2.49 acting as a deeper floor if selling pressure resumes.

2. Aster bulls build momentumAster has staged an impressive breakout, rallying over 15% on Wednesday to approach the critical $0.80 mark at the time of writing. As the native token of a leading perpetual trading platform, ASTR is holding above key technical levels, including key moving averages, indicating strong bullish momentum and increasing the probability of a continued move toward the $1.00 threshold.

The derivatives market is showing signs of strengthening, with futures open interest rising to $372 million on Wednesday from $365 million the previous day. Sustained growth in the OI will be crucial to confirm the uptrend as investor confidence continues to build.

Aster Futures OI | Source: CoinGlassAster holds above the 50-day, 100-day and 200-day EMAs, suggesting a constructive near-term bias as price is supported by the broader trend structure. The Parabolic SAR has flipped below price at $0.59, adding to the bullish tone, while the MACD histogram has turned positive on the daily chart, hinting at recovering upside momentum. Moreover, the MFI lingers near the lower band, implying modest buying pressure so far.

ASTR/USDT daily chartOn the downside, immediate support is seen at the recent breakout and pivot area near $0.76, with stronger demand likely emerging at the 200-day EMA around $0.72 if a deeper pullback unfolds. The 100-day EMA at $0.68 and the 50-day EMA at $0.67 line up as additional layers of trend support, ahead of the Parabolic SAR level near $0.59, which guards the broader bullish structure.

(The technical analysis of this story was written with the help of an AI tool.)

Cryptocurrency prices FAQs Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.

A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.

Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.

Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.

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@Aster_DEX activated a major tokenomics upgrade on June 17, sending its native token $ASTER sharply higher within hours. Crypto Briefing reported that the token climbed near $0.80 after the announcement before settling around $0.74, still up roughly 12% on the day, with trading volume surging 317% to nearly $500 million.

How the 198% buyback-and-burn model works Starting at 12:00 UTC on June 17, Aster raised its buyback-and-burn ratio to 198%. Under the new structure, 99% of daily platform fees are used to buy back $ASTER from the open market, while an equal amount is simultaneously burned from reserves, creating what the protocol describes as a paired mechanism. The bought-back tokens are not destroyed. Instead, they flow to stakers through Aster's Loyalty Rewards program, with each epoch distributing a 300,000 $ASTER base reward plus the full buyback amount, allocated to veASTER holders by lock weight.

The reserve burn targets the team allocation first and will continue until total supply falls from 8 billion to a floor of 3 billion tokens. Buybacks run automatically through a daily TWAP process and settle on-chain, with the buyback wallet published publicly so users can verify activity in real time.

Aster also tied permissionless spot listing fees to additional buybacks: each new project listing on Aster Spot carries a 50,000 USDT fee, with proceeds going toward further $ASTER repurchases and additional staking rewards.

Context: a supply model already under pressure Today's upgrade is the latest in a series of supply-side moves. The Block noted earlier this year that Aster, the perps DEX backed by Binance founder Changpeng Zhao, cut monthly token emissions by 97%, replacing a linear unlock schedule with staking-only rewards. The protocol has also completed multiple staged buyback-and-burn rounds since launch. According to CryptoNews, the protocol has already completed over $214 million in cumulative buybacks, reclaiming more than 143 million $ASTER tokens in under a month ahead of today's upgrade. Insider token unlocks remain frozen until September 2026, which removes near-term dilution pressure.

The market has priced in the supply squeeze quickly. Whether the model delivers lasting results depends on one variable: sustained fee volume. Higher trading activity means larger daily buybacks, faster reserve burns, and bigger staking rewards.

Sources
Crypto Briefing: Aster climbs as DEX rolls out 198% buyback and burn update
Crypto Economy: Aster sets 198% ASTER buyback and burn model
The Block: Aster perps DEX switches to staking-only token emission model

Key Highlights Starting June 17, Aster will allocate 99% of all platform fees toward purchasing ASTER tokens from the open market. Every token buyback triggers an equivalent burn from reserve supplies, generating a dual 198% deflationary mechanism. The initiative aims to reduce ASTER’s total supply from 8 billion down to 3 billion tokens through systematic burns. Tokens acquired through buybacks flow directly to veASTER stakers through the platform’s Loyalty Rewards system. ASTER pierced the $0.65 resistance barrier and is now testing the $0.81 threshold. On June 17, 2026, Aster unveiled a transformative tokenomics restructuring that propelled its native ASTER token upward by more than 20% within 24 hours.

Aster Price The mechanism behind this surge is clear-cut: virtually all daily platform revenue—99% to be exact—will now fuel direct ASTER token purchases from secondary markets.

These buyback operations run automatically through a time-weighted average pricing mechanism, with all transactions recorded on-chain for full transparency. The protocol has made public the dedicated wallet address (0xa0edBaBcb48034e368de286b49F9603C7AfA1b60) to enable community verification of all purchases.

[Tokenomics Update] $ASTER Buyback and Burn Steps Up to 198%

Aster is upgrading its buyback so the platform's own activity both rewards stakers and sets $ASTER on a deflationary path.

Starting from 12:00 PM UTC today, 99% of Aster's daily platform fees buy back $ASTER. An equal…

— Aster 🥷 (@Aster_DEX) June 17, 2026

In a unique twist, each ASTER token repurchased from the market triggers the permanent destruction of an equivalent token amount from the project’s reserve wallet, beginning with team-allocated holdings.

This dual-action approach creates what the protocol terms a “198% combined deflationary pressure,” simultaneously reducing circulating supply through market removal and total supply through permanent burns.

Aggressive Supply Contraction Plan Token burns occur every two weeks and will persist until the maximum supply contracts from its current 8 billion to a final target of 3 billion ASTER.

As of the June 17 implementation date, the total supply registered at roughly 7.82 billion tokens, while circulating supply hovered between 2.68 and 2.70 billion.

Every ASTER token acquired via buybacks enters the Loyalty Rewards distribution pool. Each reward cycle features a baseline allocation of 300,000 ASTER tokens, supplemented by all tokens purchased during that period’s buyback operations, then distributed proportionally to veASTER holders according to their lock-up weights.

Additional buying pressure stems from Aster Spot’s listing mechanism. Each permissionless token listing carries a 50,000 USDT listing fee, with 100% of these proceeds channeled into the same buyback infrastructure.

Market Reaction and Technical Analysis ASTER peaked near $0.80 immediately following the announcement before encountering profit-taking activity. At last check, the token traded around $0.74, representing a roughly 13% daily gain.

Source: TradingView Examining the daily timeframe, ASTER successfully breached the $0.65 price level that had served as a ceiling since April.

The Relative Strength Index climbed beyond 65, while the MACD indicator generated a bullish signal with expanding green histogram bars.

The critical resistance zone now lies at $0.81, a level that has previously rejected multiple advance attempts. A decisive break above this barrier would push ASTER into price ranges unseen since the final months of 2025.

Should the price retrace, the former resistance at $0.65 is expected to provide support.

This enhanced program represents a significant evolution from earlier iterations that directed between 70–80% of platform fees toward buybacks, now capturing nearly total revenue for token economics optimization.

On June 17, 2026, Aster rolled out a sweeping tokenomics overhaul for its native asset ASTER, triggering a surge of more than 20 percent in the coin’s price within 24 hours. The protocol announced that it will allocate 99 percent of daily platform revenue to repurchase ASTER on the secondary market.

Automatic buyback and burn mechanismAccording to the details shared, all buybacks will be executed automatically using the time-weighted average price (TWAP) method. Transaction records will be kept fully on-chain, and the relevant wallet address has been made publicly available, supporting community verification. As a decentralized finance protocol, Aster aims to restructure the incentive scheme surrounding ASTER with this new approach.

Mini glossary: The time-weighted average price method spreads large purchases over time instead of executing them at once. This approach seeks to limit sharp price swings and balance transaction costs.

As of June 17, Aster stated that 99 percent of daily platform fees will be dedicated to ASTER buybacks, and for each token purchased on the market, an equivalent amount will be permanently burned from reserves.

A standout feature of this model is that for every ASTER bought back on the market, an equal number of tokens will be permanently burned from the project reserves. In the initial phase, token burns will focus on team allocations. The protocol describes this model as creating a combined deflationary impact of 198 percent in total.

This strategy is designed to reduce circulating supply through buybacks while bringing total supply down via permanent burns. According to Aster, token burns will take place biweekly and continue until the maximum supply decreases from 8 billion to 3 billion ASTER.

Supply target and reward distributionAs of June 17, total supply stood at approximately 7.82 billion tokens, while circulating supply was between 2.68 and 2.70 billion. All ASTER collected through buybacks will be transferred into the Loyalty Rewards pool.

Each reward period will guarantee a minimum distribution of 300,000 ASTER. In addition, any tokens accumulated via buybacks during that period will be added to the total rewards. These distributions will be proportional to veASTER holders based on their token lock-up weights.

Further buy-side pressure will come from the listing mechanism on Aster Spot. The entire 50,000 USDT fee collected for each unrestricted token listing will also be allocated to the same buyback infrastructure.

Market reaction and technical outlookFollowing the announcement, ASTER price briefly approached $0.80 before retreating slightly amid profit-taking. Most recently, the token traded around $0.74, registering a daily gain of about 13 percent.

On the daily chart, ASTER broke above the $0.65 barrier that had persisted since April. Technical indicators show a Relative Strength Index climbing above 65, and a positive signal emerging on the MACD. In the near term, resistance around $0.81 stands out as a crucial level. Surpassing that could send the price into zones not seen since late 2025, while any pullbacks may find support at $0.65.

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.

A whale wallet identified as 0x5f91 has opened a new 5x leveraged long position on Aster DEX, accumulating 3.86 million $ASTER tokens with a notional value of roughly $2.61 million. The move comes shortly after the same address suffered a complete wipeout, raising fresh questions about whether history is about to repeat itself.

A Costly Re-Entry The wallet's previous position was considerably larger. The trader had held a 5x leveraged long on 5.33 million $ASTER, valued at approximately $3.97 million, which was fully liquidated during a sharp market pullback, resulting in a loss of $530,600. Rather than stepping away, the address has returned with a scaled-back but still highly leveraged bet on the same token.

High-leverage positions on $ASTER carry well-documented risks. Leverage turns small price moves into large account swings, and with 5x exposure, even a modest correction can push a position past its liquidation threshold before a trader can react.

The Tokenomics Backdrop The aggressive re-entry follows a significant protocol update. Aster DEX announced a sweeping tokenomics upgrade on June 17, 2026, directing 99% of daily platform fees into automatic $ASTER buybacks for veASTER stakers while triggering matching burns to slash total supply toward 3 billion.

This dual action, buyback and burn, is set to continue biweekly until the total token supply shrinks from 8 billion to 3 billion. Notably, the burn sequence starts with the team's own holdings, and in an environment where insider allocations often survive untouched, Aster is putting its treasury on the line first.

The protocol has already completed over $214 million in cumulative buybacks, reclaiming more than 143.38 million ASTER (7.11% of supply) in under a month. The latest upgrade escalates that commitment further. The 198% mechanism (99% buyback plus 99% equivalent burn) creates a self-reinforcing loop: higher platform usage drives stronger buy pressure and accelerated deflation.

Whether the tokenomics upgrade can sustain upward price momentum, and spare the whale from another liquidation, remains to be seen. The speed of the supply reduction depends on daily fee generation, and Aster has not disclosed its full fee revenue history, so the timeline remains unclear.

Sources:
BeInCrypto: Aster Expands its Token Buyback Program, Price Jumps 10%
CryptoNews: Aster Crypto Explodes, Buyback and Burn News Sends Hyperliquid Rival Up 10%
Blockchain Reporter: Aster Overhauls ASTER Tokenomics, 99% of Fees to Buybacks, Supply Cut to 3B

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ASTER gives up 28% rally: Is it time to buy after the tokenomics update? 

TLDRGet bStocks via Binance or onchain through PancakeSwap and Trust WalletPut them to work across BNB Chain by trading, supplying liquidity, or using them as collateralShare $300K+ in rewards across live ecosystem campaignsWhat are bStocks?bStocks are 1:1-backed tokenized U.S. securities, issued under an FSRA-approved Prospectus with a daily public proof of collateral, available to verify at any time.

Unlike Binance direct stocks, bStocks are BEP-20 tokens on BNB Smart Chain and tradable around the clock, with transactions taking under a few seconds. You can hold bStocks in any of your BSC-compatible wallets.

At the time of writing, six of the world’s largest companies are supported as bStocks: SpaceX (SPCXB), Circle (CRCLB), Micron (MUB), NVIDIA (NVDAB), Sandisk (SNDKB), Tesla (TSLAB), with more to come.

Where to Obtain bStocks?Via BinanceIf you already have a Binance account, you can go straight to bStocks and either tokenize your Binance direct stocks at zero conversion fee, or buy bStocks on Spot. For the former, enjoy the liberty to convert bStocks back to direct stocks with no lock-up, holding period or conversion fees.

Via OnchainIf you prefer to pick up bStocks directly onchain, simply swap your existing assets through platforms that are already supporting bStocks, like PancakeSwap and Trust Wallet, with more integrations coming.

Watch the tutorial on how to obtain some bStocks.

If you’re already holding bStocks, put them to work while continuing to earn dividends on your underlying equity position, plus earn a share of $300K+ with the live competitions across the BNB ecosystem.

Date: 17 June 2026, 12:00 UTC to 1 July 2026, 12:00 UTCHow to participate: Buy, sell, or swap $SPCXB and accumulate $500 in volume to qualify for leaderboard rewardsPrize pool: $100KJoin Trust Wallet's Trading campaign here

PancakeSwap: Add Liquidity to $SPCXB/USDT PoolHow to participate: Add liquidity to the $SPCXB/USDT pool*Prize pool: ~90% APR on PancakeSwap and ~30% APR on MerklJoin PancakeSwap’s LP campaign here

*Note: APR is variable and may differ in real time.

To celebrate the listing of $SPCXB on Aster Spot, a $100K trading competition is open for participation.

Date: 18 June 2026 10:00 UTC to 2 July 2026 14:00 UTCHow to participate: Trade $SPCXB on Aster Spot and rank the trading volume leaderboardPrize pool: $100K prize pool in $ASTER and $BNBJoin Aster's Trading Campaign here

Besides trading, you can also use supported bStocks as collateral on Aster. Find out more here.

ListaDAO now supports all six bStocks as collateral. Borrow against your equity positions without selling them, keeping your stock exposure intact while accessing liquidity onchain. A $100K competition is open for collateral depositors.

Dates:Phase 1: 22 June 2026 to 5 July 2026Phase 2: 6 July 2026 to 20 July 2026How to participate:Phase 1: Deposit any bStocks as collateral Phase 2: Deposit any bStocks as collateral Prize pool: $50K USDT in Phase 1, $50K USDT in Phase 2Join ListaDAO’s Campaign here

Venus ProtocolVenus Protocol has added supported bStocks in its collateral markets, allowing you to to supply bStocks as collateral within the Venus market.

An incentive program is launching soon. Follow Venus’s X to know when it goes live.

NativeNative is supporting 24/7 liquidity for bStocks, allowing tighter spreads and more reliable execution.

Supply bStocks in Native’s Credit Pool to earn APYs on your assets with zero impermanent loss.

Disclaimer:

This is not financial advice. Always do your own research and assess potential financial or security risks before interacting with any project mentioned.

bStocks are tokenized securities issued by BTECH Holdings Ltd (ADGM). They are not available to U.S. Persons or in restricted jurisdictions. A bStock does not constitute an offer, investment advice, or direct ownership of the underlying stock.