Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Pump.fun Raises $500,000,000 After Initial Coin Offering Sells Out in Just 12 Minutes

The memecoin launchpad Pump.fun has completed one of the fastest-selling initial coin offerings (ICOs) to date. In a post on the social media platform X, the Solana ( SOL )-based platform says that its official native token, PUMP, sold out in just minutes during the ICO event on July 12th, generating millions of dollars in sales. “The PUMP public sale has now ended. We are delighted to reveal that the PUMP public sale was able to sell out in only 12 minutes. We would like to thank our entire community for participating! The PUMP tokens will now enter the distribution phase.” All the tokens that were sold through the Pump.fun website and participating crypto exchanges will be transferred 48 to 72 hours after the sale. The tokens will become tradable and transferable once the protocol announces that the process is completed. In an earlier statement, Pump.fun said that 33% of PUMP’s maximum supply of 1 trillion will be sold in the ICO, 24% is reserved for community and ecosystem initiatives, 20% is allocated for the team, 13% for the existing investors, 2.4% for the ecosystem fund, 2% for the foundation, 3% for livestreaming and 2.6% for liquidity and exchanges. Source: Pump.fun/X According to data from the crypto exchange Gate, the public token sale sold 125 billion PUMP at 0.004 USDT each, raising a total of $500 million . Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Pump.fun Raises $500,000,000 After Initial Coin Offering Sells Out in Just 12 Minutes appeared first on The Daily Hodl . CoinOtag

---

$1,000,000,000,000 in T-Bills About To Flood Money Markets As Treasury Looks To Replenish Cash Balance: Report

Money market funds are reportedly gearing up for a big wave of new Treasuries to hit the market as the US government looks to stock up on cash. Over a trillion dollars worth of T-bills are expected to be issued in the next one to one and a half years as the Treasury positions itself to address a massive fiscal deficit, Reuters reports . On the demand side, money market funds reached a record $7.4 trillion in assets last month as investors looked to lock in higher returns before a potential rate cut from the Federal Reserve later this year or next year. As Deborah Cunningham, CIO for global liquidity markets at Federated Hermes told Bloomberg, “Five-percent-plus rates were nirvana, four-percent-plus is still very good — and if we dip down into the high threes, that’s quite acceptable as well.” According to Reuters, J.P. Morgan Chase, Barclays, and TD Securities have estimated new issuance of T-bills to hit somewhere between $900 billion and $1.6 trillion over the next 18 months, a jump in forecast after the recent debt ceiling resolution. However, in a new CNBC Television interview, ex-Bridgewater Associates chief investment strategist Rebecca Patterson warned that the market for US debt will soon hit a rough spot. “I think there are three main things driving the dollar [devaluation]. One is slightly lower frontend rates, interest rates over this period because currencies trade on rate differentials. But I think more importantly and what’s different this time is that you’re seeing both re-allocation out of the US both by Americans diversifying and foreigners pulling back slightly. And then third and really importantly is hedging. So let’s say I’m a large overseas pension fund, and I have a tech equity exposure, and I want to keep it because I believe in the structural story, but I’m nervous about the dollar, I’m nervous about the Fed’s independence, I can hedge out that currency risk. So even if money stays in US equities, which helps explain where we are today, you can still see that dollar weakness.” Susan Hill, senior portfolio manager and head of the government liquidity group at Federated Hermes, said that while the expected T-bill issuance appears large, the firm welcomes it and “feel that we will have no trouble accommodating it.” Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post $1,000,000,000,000 in T-Bills About To Flood Money Markets As Treasury Looks To Replenish Cash Balance: Report appeared first on The Daily Hodl . CoinOtag