Pump.fun is introducing a new creator fee sharing system that lets teams and CTO admins split fees across up to 10 wallets, transfer coin ownership and revoke update authority. Pump.fun co-founder Alon Cohen said the Solana-based memecoin launchpad is overhauling its creator fee system after concluding that the existing model may have skewed incentives. “Creator fees need change,” Cohen wrote in a Friday post on X, acknowledging that the Dynamic Fees V1 system, introduced several months ago, succeeded in driving activity but failed to produce sustainable market behavior. According to Cohen, the mechanism encouraged low-risk token creation at the expense of high-risk trading, which he described as “dangerous” because traders are the core source of liquidity and volume on the platform. Read more
United States Treasury Secretary Scott Bessent said Australia and several other countries would join a meeting of finance ministers from the Group of Seven (G7) advanced economies that he is hosting in Washington on Monday to discuss critical minerals. Bessent said he had been pressing for a separate meeting on the issue since last summer’s summit of G7 leaders, and finance ministers had already held a virtual meeting in December. India was also invited to attend the meeting, Bessent told Reuters in an interview after touring the Minneapolis-area engineering lab of RV and boat maker Winnebago Industries. He said he was unsure if it had accepted the invitation. It was not immediately clear which other countries had been invited. The G7 includes the United States, Britain, Japan, France, Germany, Italy and Canada, as well as the European Union, most of whom are heavily dependent on rare earth supplies from China. The group last June agreed on an action plan to secure their supply chains and boost their economie...
A series of ads reportedly aired on Fox News, calling on the public to contact their senators to remove DeFi provisions from the CLARITY Act bill. An anti-decentralized finance group is reportedly running advertisements on Fox News encouraging the public to pressure their Senators into passing crypto market structure legislation that excludes DeFi provisions perceived to be threatening to the banking industry. According to two screenshots shared Friday on X by Crypto in America host Eleanor Terrett, the Investors For Transparency members wrote: "Tell Your Senator: Pass Crypto Legislation Without DeFi Provisions,” sharing a hotline number to contact their local Senators. “Don’t Let DeFi Stall Innovation,” another snippet of the ad said, which appears to echo concerns from banking lobbyists over the CLARITY Act permitting stablecoin issuers to offer interest-bearing products that could be disguised as bank-like deposits and potentially draw trillions of dollars from the traditional banking system. Read more