July 2025 was a busy month in the cryptocurrency world, featuring lawsuits, Ethereum growth, and other important news.
Lawsuit Against Pump.fun and Other Legal News
Pump.fun and its affiliates are facing serious legal scrutiny as a class-action lawsuit was filed in the Southern District of New York. The complaint accuses the platform of operating like an unlicensed digital casino that allegedly siphoned over $5.5 billion from users through deceptive schemes. The pseudonymous developer named Bernie, the parent company Baton Corp., and key partners such as Solana Labs are named in the lawsuit. Plaintiffs argue the platform mimicked a 'rigged slot machine,' where early participants profited by dumping worthless tokens on unsuspecting investors.
Market Trends
This month, Ethereum soared over 50%, driven by increased demand for ETPs and corporate investments. Other key events include the FBI closing its investigation into Kraken's founder Jesse Powell without finding wrongdoing and a Denver pastor being indicted for allegedly defrauding $3 million through the worthless INDXcoin cryptocurrency.
Global Actions and Crypto Regulations
Countries are taking steps to regulate cryptocurrencies. Ghana is drafting a comprehensive crypto regulatory framework to stabilize its economy, while Hong Kong plans to enforce a new law criminalizing the sale of unlicensed stablecoins. South Korea continues to limit crypto investments, and the UK is proposing a ban on ransom payments related to cybercrime to strengthen cyber resilience.
July 2025 was a significant month for the cryptocurrency industry, and we can expect ongoing impacts from legal actions and market trends on the growth and regulation of the space.
