Pump.fun once rose to prominence by "triggering a wave of one-click coin issuance," but is now facing severe challenges due to a Crisis of Confidence, declining market share, and legal issues. The founder's promises have been questioned, the Token price has experienced a big dump, and market confidence has been severely impacted. At the same time, regulatory pressure and internal governance deficiencies have further exacerbated its predicament, reflecting the complex relationship between innovation and legal boundaries in the encryption industry.

On August 14, 【Block Rhythm】 announced that the blockchain game Shrapnel has raised $19.5 million in two rounds of financing, with the latest round led by a gaming company and other investment institutions participating. The funds raised will be used for game development and to support Shrapnel's global launch and entry into the Chinese market.
It is reported that the game will start closed testing later in 2025 and open testing in early 2026. Shrapnel developer Neon Machine had a net loss of 11.4 million dollars in 2024.

Recently, a multi-chain trading platform suffered an asset theft, exposing the security risks of its centralized accomplice accounts. User assets are facing huge risks, reminding everyone to pay attention to self-custody security and take measures to protect digital assets, learning relevant knowledge to prevent potential risks.

The rapid development of artificial intelligence has spawned the Bittensor network, which creates a machine learning platform through a decentralized incentive mechanism to address issues such as data monopolization. The supply of Bittensor's TAO Token is limited, and its network structure is unique, facilitating AI projects and resource sharing. The market outlook is optimistic, but challenges remain.

The subDAO model provides a new path for the expansion of Web3 projects, combining independent tokens, mutually beneficial relationships, and efficient execution capabilities, significantly enhancing the success rate of project launches, resource sharing, and governance efficiency. However, success still requires strong execution support, which may drive the industry towards decentralization.

Are SBET coin stocks an innovative narrative or Ethereum leverage?
Introduction
The trend of publicly traded companies shifting to cryptocurrency reserve strategies shows no signs of fading. Some companies see this as a last-ditch effort to save their business, while others simply replicate MicroStrategy's approach, but there are also a few truly innovative projects that have emerged.
This article will explore the leaders in the strategic reserve space of Bitcoin and Ethereum, analyzing how they provide alternatives to spot ETFs, deploy complex financing structures, achieve tax optimization, create staking yields, integrate the DeFi ecosystem, and leverage unique competitive advantages.
Bitcoin
Panoramic Overview
According to the data, among the entities that publicly disclose their holdings, MicroStrategy has rapidly risen to become the largest corporate holder, second only to iShares Bitcoin Trust, controlling

The decentralized ETH staking platform is facing a turning point, with layoffs reflecting changes in the industry. Institutional investors tend to prefer centralized staking solutions, leading to a contraction of the platform's survival space. Although regulatory easing brings short-term favourable information, the entry of traditional financial giants will intensify competition. Decentralized platforms need to integrate the DeFi ecosystem and improve user experience to meet challenges, as there is still room for development in the future.

The MEV Windfall on Solana: Unveiling the Capital Power Game in the Dark Forest
In the past year, the Memecoin craze has turned Solana into a gold mine in the eyes of traders. Countless people have chased the soaring and plummeting Meme coins, trying to gain the upper hand with trading bots. However, the truly risk-free lucrative business does not dance on the candlestick charts, but is hidden deep in the dark forest of the blockchain—this is MEV (Maximal Extractable Value).
Compared to the publicly visible profits of trading bots, the profits from MEV are often hidden within the mechanisms of block construction and ordering, controlled by the "invisible hand" that holds on-chain power and infrastructure. Many people know little about this because the barriers to entry are high, information is extremely asymmetrical, and control is highly concentrated.
When ordinary users use bots to front-run the order book and avoid being squeezed, MEV catchers are manipulating transaction ordering behind the scenes, accurately capturing arbitrage opportunities. Retail investors are competing with their hands.

[Coin World] According to reports, Circle has minted a total of 750 million USDC on Solana today.

On August 14, according to monitoring by [Block Rhythm], two newly created addresses withdrew 71 trillion Tokens (worth 8.67 million USD) from a certain trading platform in the past 6 hours, with an average withdrawal price of 0.0000122 USD.

Guest and Host
Host: Alex, Research Partner
Guest:
- Louie, a professional on-chain investor
- Stakeholder, professional individual investor and on-chain studio manager
- Lawrence, Researcher
Interpretation of the meme concept
Louie: A meme is the monetization of attention and hot topics on the blockchain. Hot topics from the Web2 world are mapped to Web3, corresponding to a token, which monetizes attention and hot topics.
Stakeholder: Memes are carriers of values and emotions. By buying, selling, and holding a token, one can advocate for values and express emotions. The wider the spread and the more people buying, the more money can be made. At the same time, it is possible to find like-minded groups and gain a sense of belonging. The token itself has no function and can easily lead to losses, so one should use funds they can afford to play with.
Lawrence: mem