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Most Trump Crypto Dinner VIPs Have Moved or Dumped Their Coins

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In brief

  • Most TRUMP token VIPs have moved their holdings to centralized exchanges, presumably to sell.
  • The average VIP holdings dropped from $4.78 million at the snapshot to $2.11 million as of Friday.
  • TRUMP is down more than 14% one day after the president’s crypto dinner.

The majority of TRUMP meme coin holders that earned VIP status for President Trump’s exclusive gala dinner held none of the tokens in those wallets by the time they arrived for dinner at Trump National Golf Course on Thursday night. 

On-chain data gathered from Solana block explorer Solscan shows that just eight of the top 25 VIPs maintain a balance of the president’s official Solana meme coin the day after the dinner, with the bulk of registered addresses having transferred tokens to centralized exchanges just days after the May 12 snapshot.

One of those eight wallets belongs to Justin Sun, the Tron network founder who confirmed he held the top spot on the Get Trump Memes leaderboard days before the event. Sun’s wallet, which held 1.43 million TRUMP at the time of the dinner snapshot, still holds just under 1.4 million TRUMP tokens valued at around $18.8 million. 

“As the top holder of TRUMP and proud supporter of President Trump, it was an honor to attend the Trump Gala Dinner,” Sun posted on X early Friday morning. 

The second registered address on the leaderboard, identified as being associated with layer-1 meme coin blockchain MemeCore, maintains its entire balance from the snapshot on May 12, but only three other wallets from the top 10 have any TRUMP tokens. 

The other five all transferred their balances to addresses labeled by Solscan as centralized exchanges like Coinbase and Binance, with one wallet transferring its TRUMP tokens to an account labeled as the Wintermute hot wallet.

While VIPs once held an average around $4.78 million worth of TRUMP tokens, the group’s average holdings now stand at approximately $2.11 million—buoyed in large part by the nearly $37.3 million in combined holdings from the top two holders.



By transferring or selling their tokens, the VIPs without balances will miss out on a limited edition “diamond hand” NFT, only earned by maintaining their leaderboard balances up until the dinner. 

Some VIPs’ willingness to part with their tokens right after the dinner snapshot may lend credence to the argument from lawmakers and other critics that their investments were purely a “pay-for-play” tactic to get close to the president. 

Fears of foreign influence and crypto corruption as a result of the dinner led to protests at the event, plus the introduction of a bill that would keep the president from profiting from crypto ventures. 

Even before the event, Democratic Senators sought an ethics probe over the dinner, citing “severe risk that President Trump and other officials may be engaging in ‘pay-to-play’ corruption by selling presidential access.”

TRUMP is down more than 14% in the last 24 hours to $13.22, nearly 82% off its January all-time high.

Edited by Andrew Hayward

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U.S. Is 'Going Big' on Crypto, Treasury Secretary Bessent Says
Crypto Trends

U.S. Is ‘Going Big’ on Crypto, Treasury Secretary Bessent Says

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U.S. Treasury Secretary Scott Bessent told Bloomberg earlier this Friday that the world’s largest economy is “going big” on digital assets. 

According to Bessent, a lot of companies were “starved” and almost pushed to extinction by the previous administration. 

The new administration is focused on promoting crypto growth while applying the highest regulatory standards, according to Bessent.

“So, what we want to do is to apply the highest US regulatory AML standards to digital assets, especially stablecoins,” he stressed. 

Speaking of stablecoins, Bessent said that stablecoins could create roughly $2 trillion worth of demand for U.S. Treasuries and Treasury bills over the short term. As of now, for comparison, the number is $300 billion. 

As reported by U.Today, Tether CEO Paolo Ardoino recently opined that the USDT stablecoin actually helps to bolster the hegemony of the US dollar. 

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The U.S. Senate also appears to be on track to pass key stablecoin legislation in the near future, which would be a major win for the industry. 

Meanwhile, according to recent reports, such big names as Fidelity and JPMorgan are considering joining the stablecoin bandwagon. 

Beyond stablecoins, the new crypto-friendly US admin is promoting Bitcoin. 

In March, the world’s largest economy made a trailblazing move by establishing a strategic Bitcoin reserve.

As reported by U.Today, Bessent previously opined that the U.S. could find some avenues for buying more coins on top of the forfeited ones. 



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Jamie Crawley
Crypto Trends

Crypto Lender Ledn Goes Full Bitcoin Maxi as It Seeks to Reduce Client Asset Risk

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Cryptocurrency lender Ledn is removing support for ether

and will begin offering a bitcoin-only loan model starting July 1 as it looks to simplify its product and sharpen its focus around bitcoin .

The Cayman Islands-registered company may be attempting to broaden its appeal among the corners of the crypto community that say BTC is the only cryptocurrency that is needed. Such BTC advocates are often referred to as “Bitcoin Maxis.”

“With our new hyper-focus on Bitcoin-only lending, we’re going back to our roots and principles that inspired Bitcoin to begin with,” co-founder Adam Reeds said in an emailed announcement on Friday.

Ledn will also stop lending client assets to generate yield as it seeks to remove risk from its business model. Bitcoin offered to Ledn as collateral for loans will remain fully in its custody or that of its partners, Ledn said.

“Traditional finance relies on constantly reusing client assets to create leverage and, ultimately, inflation,” Reeds said. “Bitcoiners instinctively reject that model.”

Cryptocurrency lending was a major casualty of crypto winter in 2022, with the companies including BlockFi, Voyager, Celsius and Genesis going to the wall.

Ledn managed to survive and is now attempting to resurrect the BTC-backed lending sector, with its simplified product offering and helped by the friendlier regulatory approach to crypto in the U.S, co-founder Mauricio Di Bartolomeo told CoinDesk in a recent interview.



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Tom Carreras
NFT Gaming

MSTR, SMLR Lead Crypto Names Lower

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Crypto stocks suffered a red day on Friday, especially bitcoin

treasury companies such as Strategy (MSTR) and Semler Scientific (SMLR) — each down roughly 6% even as bitcoin slipped only a bit more than 2%. Japan-listed Metaplanet is lower by 24%.

The picture looks even worse when zooming out: changing hands at $376 early Friday afternoon, MSTR shares are more than 30% below their all-time high hit late in 2024 even as bitcoin has pumped to a new record this week.

The price action comes amid a continuing debate taking place on social media about the sustainability of Michael Saylor’s (and those copycatting him) bitcoin-vacuuming playbook.

“Bitcoin treasury companies are all the rage this week. MSTR, Metaplanet, Twenty One, Nakamoto,” said modestly well-followed bitcoin twitter poster lowstrife. “I think they’re toxic leverage is the worst thing which has ever happened to bitcoin [and] what bitcoin stands for.”

The issue, according to lowstrife, is that the financial engineering that Strategy and other BTC treasury firms are employing to accumulate more bitcoin essentially rests on mNAV — a metric that compares a company’s valuation to its net asset value (in these cases, their bitcoin treasuries).

As long as their mNAV remains above 1.0, a given company can keep raising capital and buying more bitcoin, because investors are showing interest in paying a premium for exposure to the stock relative to the firm’s bitcoin holdings.

If mNAV dips below that level, however, it means the value of the company is even lower than the value of its holdings. This can create significant problems for a firm’s ability to raise capital and, say, pay dividends on some of the convertible notes or preferred stock it may have issued.

Shades of GBTC

Something similar happened to Grayscale’s bitcoin trust, GBTC, prior to its conversion into an ETF. A closed-end fund, GBTC during the bull market of 2020 and 2021 traded at an ever-growing premium to its net asset value as institutional investors sought quick exposure to bitcoin.

When prices turned south, however, that premium morphed into an abysmal discount, which contributed to a chain of blowups beginning with highly-leverage Three Arrows Capital and eventually spreading to FTX. The resultant selling pressure took bitcoin from a record high of $69,000 all the way down to $15,000 in just one year.

“Just like GBTC back in the day, the entire game now — the whole thing — is figuring out how much more BTC these access vehicles will scoop up, and when they will blow up and spit it all back out again,” Nic Carter, partner at Castle Island Ventures, posted in response to lowstrife’s thread.

The thread also triggered replies from MSTR bulls, among them Adam Back, Bitcoin OG and CEO of Blockstream.

“If mNAV < 1.0 they can sell BTC and buy back MSTR and increase BTC/share that way, which is in share-holder interests,” he posted. “Or people see that coming and don’t let it go there. Either way this is fine.”



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Crypto, NFTs are a lifeboat in the sinking fiat system: Finance Redefined
NFT Gaming

Crypto, NFTs are a lifeboat in the sinking fiat system: Finance Redefined

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Risk appetite across traditional and cryptocurrency markets saw a sharp rise this week, helping United States cryptocurrency funds recover the capital lost to the correction of February and March, amassing over $7.5 billion worth of weekly inflows.

Bitcoin (BTC) surpassed its old all-time high on May 21, two days after President Donald Trump confirmed ongoing ceasefire negotiations between Russia and Ukraine in a May 19 X post.

Meanwhile, popular analyst and Global Macro Investor CEO Raoul Pal warned of more fiat currency debasement, urging investors to gain more exposure to cryptocurrencies and non-fungible tokens (NFTs), as these assets “will never be this cheap again.”

Exponential currency debasement: “You don’t own enough crypto, NFTs”

Cryptocurrencies and NFTs can help investors protect their eroding purchasing power during an era of exponential currency debasement, according to analysts and industry leaders.

Investing in digital assets is becoming increasingly important in the “world of the exponential age and currency debasement,” according to Raoul Pal, founder and CEO of Global Macro Investor.

“You don’t own enough crypto. When you do, you don’t own enough NFT’s, as art is upstream of wealth. Both will never be this cheap again,” Pal said.

NFTs are “the single best long term store of wealth I know and you get to buy it before network effects kick in,” he added in another response.

Source: Raoul Pal

“There is some validity to the statement that NFTs, and in extension art, become a vehicle for the wealthy once a certain level of wealth is reached,” wrote Nicolai Sondergaard, research analyst at Nansen, calling it a “natural move” for asset diversification.

“For traders and investors, further down the wealth curve, NFTs are partially about speculating on future returns,” he told Cointelegraph, adding that NFTs also benefit from the allure of strong communities, beyond just wealth creation.

Continue reading

US crypto funds top $7.5 billion inflows in 2025 as investor appetite grows

Crypto investment products in the United States have attracted over $7.5 billion worth of investment in 2025, with a fifth week of net positive inflows last week signaling growing investor demand for digital assets.

US-based crypto investment products attracted $785 million worth of investment last week, pushing the year-to-date (YTD) total to over $7.5 billion, according to a May 19 report by digital asset manager CoinShares.

The latest figure marks the fifth consecutive week of net positive flows, following nearly $7 billion in outflows during February and March.

Weekly crypto asset flows, USD, million. Source: CoinShares

The United States accounted for the bulk of inflows, with $681 million, followed by Germany at $86.3 million and Hong Kong at $24.4 million.

Crypto flows by country. Source: CoinShares

Investor demand for risk assets such as cryptocurrencies staged a significant recovery after the White House announced a 90-day pause on additional tariffs on May 12, which marked a 24% cut for import tariffs for both the US and China.

A day after the announcement, Coinbase exchange saw 9,739 Bitcoin worth more than $1 billion withdrawn from the exchange — the highest net outflow recorded in 2025, signaling that institutional appetite was “accelerating,” according to Bitwise’s head of European research, André Dragosch.

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VanEck to launch Avalanche ecosystem fund

VanEck plans to launch a private digital assets fund in June targeting tokenized Web3 projects built on the Avalanche blockchain network, the asset manager said in a statement shared with Cointelegraph.

The VanEck PurposeBuilt Fund, available only to accredited investors, aims to invest in liquid tokens and venture-backed projects across Web3 sectors, including gaming, financial services, payments, and artificial intelligence. 

Idle capital will be deployed into Avalanche (AVAX) real-world asset (RWA) products, including tokenized money market funds, VanEck said.

The fund will be managed by the team behind VanEck’s Digital Assets Alpha Fund (DAAF), which oversees more than $100 million in net assets as of May 21. 

“The next wave of value in crypto will come from real businesses, not more infrastructure,” Pranav Kanade, portfolio manager for DAAF, said in a statement.

RWAs are among crypto’s fastest-growing segments. Source: RWA.xyz

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Yield-bearing stablecoins surge to $11 billion, now 4.5% of market: Report

Yield-bearing stablecoins have soared to $11 billion in circulation, representing 4.5% of the total stablecoin market, a steep climb from just $1.5 billion and a 1% market share at the start of 2024.

One of the biggest winners is Pendle, a decentralized protocol that enables users to lock in fixed yields or speculate on variable interest rates. Pendle now accounts for 30% of all yield-bearing stablecoin total value locked (TVL), roughly $3 billion, according to a report from Pendle compiled by analysts from Spartan Group and Modular Capital shared with Cointelegraph.

The report noted that stablecoins make up 83% of its $4 billion total value locked, a sharp rise from less than 20% just a year ago. In contrast, assets such as Ether (ETH), which historically contributed 80%–90% of Pendle’s TVL, have shrunk to less than 10%.

Traditional stablecoins like USDt (USDT) and USDC (USDC) do not pass on interest to holders. With over $200 billion in circulation and US Federal Reserve interest rates at 4.3%, Pendle estimates that stablecoin holders are missing out on more than $9 billion in annual yield.

Pendle TVL share by assets. Source: Pendle

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Tether surpasses Germany’s $111 billion of US Treasury holdings

Tether, the $151 billion stablecoin issuance giant, has surpassed Germany in United States Treasury bill holdings, showcasing the benefits of a diversified reserve strategy that has helped the firm navigate the volatility of the cryptocurrency market.

Tether, the issuer of the world’s largest stablecoin, USDT, has surpassed Germany’s $111.4 billion worth of US Treasurys, data from the US Department of the Treasury shows.

Foreign countries by US Treasury holdings. Source: Ticdata.treasury.gov

Tether has surpassed $120 billion worth of Treasury bills, the firm shared in its attestation report for the first quarter of 2025. That makes Tether the 19th largest entity among all counties in terms of T-bill investments.

“This milestone not only reinforces the company’s conservative reserve management strategy but also highlights Tether’s growing role in distributing dollar-denominated liquidity at scale,” wrote Tether in the report. 

During 2024, Tether was the seventh-largest buyer of US Treasurys across all countries, surpassing Canada, Taiwan, Mexico, Norway, Hong Kong and numerous other countries, Cointelegraph reported in March 2025.

Continue reading:

DeFi market overview

According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.

Worldcoin (WLD) rose over 32% as the week’s biggest gainer in the top 100, followed by the Hyperliquid (HYPE) token, up over 30% on the weekly chart.

Total value locked in DeFi. Source: DefiLlama

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.



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Liquidations across all digital assets (CoinGlass)
Crypto Trends

Crypto Market Sees $300M Liquidations as Trump Tariff Threats Flush Late Bulls

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Crypto traders betting on a steady bitcoin

rally got a sharp reminder of headline risk from Donald Trump’s latest tariff threats.

Over $300 million worth of leveraged derivatives positions were liquidated across centralized exchanges in the past four hours, according to CoinGlass data, as crypto prices plunged following the news.

Nearly all liquidations came from long positions—traders betting on higher prices. BTC longs accounted for $107 million of the total, while Ethereum’s ether

followed with close to $87 million. Other tokens, including Solana’s SOL , dogecoin , and SUI saw liquidations ranging between $10 million and $18 million.

Liquidations across all digital assets (CoinGlass)

“Nice aggregate flush of long leverage and de-risk selling from spot,” well-followed crypto trader Skew noted in an X post early Friday. “All driven by headlines once again.”

The sell-off came after Trump proposed a 50% tariff on imports from the European Union starting next month, along with a 25% tariff on iPhones manufactured outside the U.S., reigniting fears of an escalating trade war.

As a result, BTC and major altcoins such as Ether

, XRP , and Cardano fell 3% to 4%, while smaller-cap tokens like Uniswap and SUI dropped 5% to 7% over the past 24 hours.

Crypto trader named James Wynn, who gained attention recently opening a $1.1 billion BTC long bet with 40x leverage on the Hyperliquid exchange, also slipped underwater on the massive position. Currently, the trader is sitting on $7.5 million of unrealized losses, and the position could be liquidated if BTC slips to $102,000, according to a screenshot shared on X.

Interestingly, the long liquidations came amid a recent unusual tilt toward short positions in BTC derivatives despite record prices, CoinDesk reported on Thursday.

Read more: Why Are Bitcoin Traders Aggressively Shorting as BTC Hits New Record High?



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GameFi Guides

Trump’s Meme Coin Dinner Draws Protests Calling For End to ‘Crypto Corruption’

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In brief

  • Protesters carried signs like “Grift Gala” and “America is not for sale” as Trump dined with $TRUMP token holders.
  • The protest event was organized by Americans for Tax Fairness, Public Citizen, and Our Revolution.
  • Ahead of the dinner, democrats introduced a bill banning presidents from crypto ownership while serving their terms.

More than a hundred protestors gathered Thursday outside Trump National Golf Club in Sterling, Virginia, as President Donald Trump hosted a controversial private dinner for top holders of his meme cryptocurrency, $TRUMP.

Demonstrators waved placards reading “Stop Crypto Corruption” and chanted “Shame!” as the president arrived.

One group hoisted a giant golden coin bearing Trump’s scowling face, drawing attention to what they labeled a “Grift Gala”.

The protest was coordinated by advocacy groups, including Americans for Tax Fairness, Public Citizen, and Our Revolution, which denounced the event as political influence for sale.

“Trump is openly selling influence through his meme coins while selling out Medicaid to pay for tax cuts for his rich donors. It’s beyond corrupt,” said Our Revolution in a statement on X.

The White House press office has been contacted for comment.

The backlash adds to mounting scrutiny over Trump’s embrace of digital assets, which critics say blurs ethical lines between public office and personal gain. 

The dinner was held for the top 220 investors in the $TRUMP token, a meme coin launched by the president in January. According to organizers, the top 25 holders will also attend a cocktail reception Friday evening.

The complete guest list has not been disclosed. Confirmed attendees include crypto mogul Justin Sun, who was previously under U.S. investigation for his crypto dealings. 

Lamar Odom, the former NBA star and ex-husband of Khloé Kardashian, was also spotted entering the event.

Press access to the event was denied, and White House officials declined to release the attendee list as the president is “attending it in his personal time.”

As Trump and his family’s crypto ventures mount, legislators are seeking to temper his ability to profit from crypto hype he is in part driving himself. 

Ahead of the gala, Rep. Maxine Waters (D-CA) introduced the “Stop TRUMP in Crypto Act of 2025,” barring sitting presidents and close relatives from owning or profiting from cryptocurrencies.

“Enough is enough,” Waters previously said in a statement shared with Decrypt. “Congress can no longer ignore the biggest scam and abuse of power in American history.”

Criticism has also emerged from within the crypto community. Some developers and investors warned that Trump’s direct entanglement in meme coins damages legitimacy and invites regulatory blowback.

Edited by Sebastian Sinclair

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US big banks hold early talks on joint crypto stablecoin: WSJ
Crypto Trends

US big banks hold early talks on joint crypto stablecoin: WSJ

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Some of the biggest banking companies in the US are reportedly exploring a team-up to launch a crypto stablecoin.

Companies owned by JPMorgan, Bank of America, Citigroup and Wells Fargo have discussed the possibility of jointly issuing a stablecoin, The Wall Street Journal reported on May 22, citing people familiar with the matter.

Other financial institutions linked to the potential stablecoin include Early Warning Services, the parent company of digital payments network Zelle, and the payment network Clearing House.

The discussions are still in the early stages, and a final decision on the project could change depending on the regulatory environment and the demand for stablecoins.

A JPMorgan spokesperson told Cointelegraph the company had no comment. Bank of America, CitiGroup, and Wells Fargo did not immediately respond to requests for comment.

On May 20, the US Senate voted 66-32 in favor of advancing discussion on the stablecoin-regulating Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. 

The bill outlines a regulatory framework for stablecoin collateralization and mandates compliance with Anti-Money Laundering laws. The bill is now headed to debate on the Senate floor.

Earlier this week, White House crypto czar David Sacks said he expects the bill will be passed and that it will receive bipartisan support.

However, high-ranking Democrats plan to amend the bill to include a clause prohibiting President Donald Trump and other US officials from profiting from stablecoins.

Trump and his family launched the crypto platform World Liberty Financial, which created the USD1 stablecoin in March. Critics argue that President Trump stands to personally benefit from passing favorable stablecoin regulation.

Related: World Liberty Financial brushes off oversight concerns from Congress

Stablecoin demand surges

The demand for stablecoins has been on the rise, with nation states adopting and institutions wanting to incorporate stablecoins.

The total market capitalization of stablecoins has shot up to $245 billion from $205 billion at the start of the year, representing a 20% increase.

Earlier this week, it was reported that yield-bearing stablecoins now account for nearly 4.5% of the entire stablecoin market, with a circulating supply of $11 billion.

Austin Campbell, a New York University professor and founder of Zero Knowledge Consulting, said the American banking lobby is “panicking,” as stablecoins can disrupt the traditional banking business model.

Earlier this month, it was reported that tech giant Meta is exploring ways to incorporate stablecoin payments into its platforms.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight



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Toobit: Unpacking A Full-Service Crypto Exchange For Modern Traders
GameFi Guides

Toobit: Unpacking A Full-Service Crypto Exchange For Modern Traders

by admin


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Although Toobit is a relatively new entrant in crypto trading, it’s already making a great impression in the crypto trading industry. Launched in 2022 and backed by big investors such as Bybit and Huobi Ventures, the platform now has over 3 million active users, 200,000+ community members, and more than $15 billion in daily trading volume. And it’s not just hype—Toobit is trying not to be merely a crypto exchange. So, what exactly sets Toobit apart from other crypto exchanges?

Split or Merge? Flexible Trading And Real Utility

One of the standout features of Toobit is its position management tools. While most platforms offer a one-dimensional approach, Toobit gives users a choice between split mode or merged mode. In the split mode, every trade is handled independently, making it ideal for multi-strategies and multi-directional trading. Merged mode, on the other hand, streamlines the process by consolidating trades in the same direction into a single position — perfect for traders who prefer a cleaner interface and minimal micromanagement.

For high-volume or institutional traders, Toobit offers API integrations for algorithmic trading and portfolio management, as well as high-liquidity trading environments. Users can access over 450 tools, including cryptocurrencies, derivatives, trading bots, and demo trading. Institutional traders can also apply for customized withdrawal limits and other tailored services.

Being able to run both long and short positions simultaneously is also an advantage on Toobit, especially for more advanced trading strategies. This level of flexibility is uncommon among retail-facing exchanges and will undoubtedly appeal to traders who value greater control and customization.

Copy trading is another standout feature, offering over 40 zero-slippage trading pairs. Combined with automated tools such as Futures Grid and DCA (Martingale), Toobit provides a well-equipped toolkit for users looking to streamline and optimize their trading strategies.

Simple But Practical

The user experience is quick and friction-free. New users can sign up and deposit in under two minutes. Both the desktop and mobile interfaces are well-designed and functional, offering features such as alerts, trade volume notifications, and customizable portfolio views.

For those who need guidance, Toobit provides a range of educational resources, including tutorials, FAQs, and a help center. Customer support is available 24/7 through multiple channels, including Telegram and WhatsApp. It may not be groundbreaking, but it delivers the level of convenience users now expect in 2025.

Fees That Make Sense

Fees are often the dealbreaker for crypto traders, especially high-frequency ones. Toobit keeps it simple. No charges to open or maintain an account, no inactivity or portfolio transfer fees. Buying crypto incurs a 0.1% fee, and selling is slightly cheaper at 0.075%. Deposit fees? Zero. Withdrawal costs vary by blockchain network.

Crypto swaps incur no fees, which is a rare and valuable advantage. While fiat on-ramp services do carry fees, these are charged by third-party providers such as Simplex—not by Toobit itself.

Security And Trust

Toobit takes security seriously. There has been no record of a data breach. No evidence of customer information being sold or misused, and it employs standard features such as 2FA (via SMS, email, or third-party apps), security PINs, and device recognition. The platform stores cold wallets on air-gapped devices and protects hot wallets with AES-256 encryption and AI-powered surveillance tools. Standard stuff, but well-executed.

To minimize risks, the platform’s Bee-Safe technology incorporates multi-layered security, including hardware security modules and multi-party computation wallets. Toobit also partners with top blockchain security firms such as Beosin and Elliptic for regular audits.

Community And Global Reach

Toobit is creating a global community. With over 200,000 community members and 3,000 active influencers across major regions, such as in the US, UK, East Asia, and CIS countries, the exchange is rapidly expanding. The platform’s interface is available in 11 languages, making it accessible and user-friendly for international users.

The referral and affiliate programs provide an added layer of engagement, rewarding users with commissions and bonuses for bringing new traders to the platform.

Beyond Trading: Toobit’s Ecosystem In The Making

Toobit goes beyond traditional features by offering a Telegram Mini App that allows users to send and receive crypto gifts. Gifts can be sent as “Standard” (equal split) or “Lucky” (random distribution), and claimed funds are deposited directly into users’ Spot accounts.

Its partnership with NovaMeme also shows Toobit’s commitment to bridge the gap between centralized and decentralized finance. This integration offers early access to IDOs, cross-chain token swaps, and DEX services across ecosystems such as Solana, Ethereum, and Binance Smart Chain.

Final Take

Toobit doesn’t reinvent crypto trading but enhances many core features while offering greater flexibility than most platforms. With split and merged position options, zero-slippage copy trading, robust security, and low fees, it delivers a well-rounded trading experience.

There’s no NFT support, and some features might be underutilized by casual traders. But overall, Toobit is definitely worth checking out—especially for traders seeking a customizable, low-fee, high-performance trading environment.

 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Crypto Trends

Ethereum’s ‘Ember Sword’ Is the Latest in a Growing Wave of Crypto Game Shutdowns

by admin



In brief

  • Ethereum-based game Ember Sword generated $203 million in metaverse land sales in 2021.
  • Four years later, the game has been discontinued due to a lack of funding.
  • Numerous crypto games have already shut down this year, including Nyan Heroes and Deadrop.

Four years after attracting $203 million in NFT land sales, Ethereum game Ember Sword has shut down, with developer Bright Star Studios citing a lack of funding required to continue its operations. It’s the latest example of a growing trend of crypto games closing up shop.

“We were ultimately unable to secure the funding needed to continue,” the game’s official site now reads. “We explored every possible way forward. But in today’s market—where even some of the most promising projects are shutting down—we couldn’t find a path to keep building.”

Massively multiplayer online role-playing game (MMORPG) Ember Sword rose to prominence in 2021 amid the metaverse boom—around the time that Facebook rebranded to Meta. It had completed a number of funding rounds, with one disclosed to total $2 million, attracting investment from the likes of video game streamer Dr. Disrespect, The Sandbox co-founder Sebastien Borget, and Twitch co-founder Kevin Lin.

The project also attracted prominent gaming veterans as advisors, including Rob Pardo, former chief creative officer at Blizzard Entertainment and lead designer of the enormously popular World of Warcraft, as well as retired esports player Dennis “Thresh” Fong.

As metaverse mania hit its peak in 2021, there was a virtual land grab, prompting high-value NFT sales in games like The Sandbox and Decentraland. Amid this explosion of interest, Ember Sword itself attracted $203 million worth of NFT land purchases via 35,000 players.

Ember Sword eventually entered closed beta in July 2024, but the gameplay footage was met with a slew of commenters disappointed with the product.

Late in the year, the game entered public early access after moving to Ethereum layer-2 network Mantle—its second move after previously jumping from Polygon to Immutable X.

Now, the game is shutting down for good, with its servers going offline and Discord access being limited. The EMBER token has meanwhile plunged to near-worthlessness, with a market cap of just $82,000 and a price down more than 99% from peak.

“This isn’t the ending any of us wanted,” the site reads. “But we wanted to sincerely thank you for being here, for believing in this vision, and for helping make Ember Sword something we’ll never forget.”



Unfortunately, this isn’t an isolated incident, but rather part of a much broader trend of crypto games closing this month.

Last week, cat-themed Solana shooter Nyan Heroes shut down, with developer 9 Lives Interactive also citing an inability to secure funding as the reason it had to close shop. The hero shooter had just completed its fourth play test via the Epic Games Store, with the studio claiming more than one million players across the four periods. A full version of the game was planned to launch next winter.

That same day, it was announced via Discord that mobile game Blast Royale’s development is set to be discontinued, although the game will become open-source for other developers to pick up. On Monday, Ronin role-playing game Tatsumeeko was also discontinued as its creators said they were shifting focus onto their Discord-based fantasy life simulator called Project: Wander.

Other notable game closures in recent months include Deadrop and The Mystery Society, with Gala Games’ The Walking Dead: Empires also announced to shut down at the end of July.

Edited by Andrew Hayward

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