It was a turbulent week for the crypto market. A Reuters investigation found that Donald Trump and his family quietly pocketed at least $2.3 billion from their crypto ventures, while outside investors absorbed similar losses.
Elsewhere, the Siren token imploded 96% from its peak in what looks like a textbook pump-and-dump, and Robinhood rattled Wall Street by winning regulatory approval to underwrite IPOs, putting it in direct competition with Goldman Sachs and Morgan Stanley. Those are just the headlines. Read the full recap to catch everything that moved the market this week.
Siren Token Collapses 96% From Peak in Suspected Pump-and-Dump
Siren’s SIREN token has crashed over 70% in 24 hours, down 96% from its yearly high, with market cap shrinking from $1.7 billion to $102 million. Whales are actively dumping; one made $7.5 million offloading tokens. The coin has no utility or website, fueling suspicions of a classic pump-and-dump scheme.
TRUMP Coin Jumps 31% on Iran Diplomacy News, But Skeptics Warn It Won’t Last
TRUMP Coin surged 31% to $2.29 Friday, with trading volume spiking 335% to $848 million, after Donald Trump signaled a potential diplomatic deal with Iran. The token broke an eight-month downtrend, but analysts remain divided. Some see a genuine breakout, others call it a short-lived “scam bounce” on a coin still down 53% in 2026.
Humanity Protocol Bounces 345% After Hack – But Is It a Trap?
Humanity Protocol’s H token surged 345% after a hacker stole $30 million by compromising a director’s private keys through a phishing attack. The BSC chain remains permanently exposed as the attacker can still mint tokens. Analysts warn that the rally looks like a dead-cat bounce, citing Mantra’s similar post-hack rebound, which ultimately collapsed to near zero.
Coinbase Brings Ethena’s High-Yield DeFi to Its App
Coinbase and Ethena have launched the Steakhouse High Yield Vault, giving Coinbase users access to DeFi yields through Ethena’s synthetic dollar, USDe, via the Morpho lending protocol, all within the Coinbase app. Steakhouse Financial curates the vault, while Morpho handles on-chain lending, targeting higher returns than standard stablecoin products without requiring users to use separate DeFi tools.
Dogecoin Down 82% With More Pain Possibly Ahead
Dogecoin has crashed 82% from its peak, falling below $0.0845 as demand for meme coins dries up across spot, futures, and ETF markets. Open interest has collapsed from $6 billion to under $1 billion. With a bearish flag forming on the chart and the RSI near oversold territory, analysts see $0.057 as the next target.
Bithumb CEO Named Bribery Suspect in South Korean Political Scandal
South Korean police have named Bithumb CEO Lee Jae-won a bribery suspect, alleging he arranged a job for a lawmaker’s son in exchange for political favors. Investigators are also probing whether that lawmaker then used parliamentary sessions to pressure rival exchange Upbit, raising serious questions about political interference in South Korea’s crypto market.
Saylor’s Two Metrics for Judging Strategy Stock
Michael Saylor wants investors to evaluate Strategy using two distinct measures: Net Assets per Share, which reflects traditional balance-sheet strength after deducting debt, and BTC per Share, which tracks how much Bitcoin exposure each share carries. He views the latter as the Bitcoin-native version of earnings per share, and Strategy’s primary goal is to grow it.
Audiera’s 8-Day Rally Looks Like a Trap, Analysts Warn
Audiera’s BEAT token has surged to a $1.87 billion market cap over eight consecutive days, but analysts are skeptical. With no major catalyst, an RSI of 98, and a pattern mirroring Humanity token’s recent 90% collapse, technicals suggest a sharp reversal could be coming.
Crypto Hacks Surge as Humanity Protocol and Mantra Collapse
Crypto hacks are accelerating, with investors losing $1.48 billion over the past year. Humanity Protocol lost $30 million to a private key breach after its token surged 1,700%. Mantra, once valued at $7.8 billion, now sits at $11 million following a suspicious April collapse, deepening an already brutal crypto winter.
Robinhood Gets Underwriting Approval, Takes Aim at Wall Street IPO Giants
Robinhood has received regulatory approval to underwrite IPOs, not just distribute shares. The move lets the company help structure deals and negotiate retail allocations directly, putting it in competition with Goldman Sachs and Morgan Stanley. CEO Vlad Tenev says the goal is to give retail investors earlier, fairer access to offerings that have historically been dominated by institutions.
Morpho Raises $175M, Eyes $2.10 Breakout
Morpho secured a record $175 million DeFi funding round led by Paradigm, a16z, and Ribbit Capital, sending MORPHO up 8.5% to $1.93 against a fearful broader market. The protocol now holds $11 billion in deposits and is closing the gap on Aave. Technically, $2.10 is the key breakout level to watch.
Kalshi Requires Employer Disclosure to Fight Insider Trading
Kalshi, the CFTC-regulated prediction market, will soon require certain traders to disclose their employers before betting on sensitive markets like elections and corporate events. The move is part of a broader compliance push that includes a surveillance advisory committee and a partnership with Solidus Labs to monitor over 4,000 markets for suspicious activity.
Trump Crypto Empire: $2.3B Gained, Billions Lost by Backers
A Reuters investigation found that Donald Trump and his sons made at least $2.3 billion from crypto ventures, including World Liberty Financial and branded memecoins, while risking little of their own money. Outside investors in the same projects have lost roughly the same amount on paper. The White House denies any wrongdoing.
Worldcoin Bucks the Trend With 31% Weekly Gain, and a 710% Target in Play
Worldcoin is up 31% this week and 70% this month, trading near $0.49 while most crypto assets slide. The rally is fueled by Arthur Hayes’s backing of WLD and growing excitement around Sam Altman’s plans for OpenAI’s IPO. Technically, WLD is pressing against a multi-year descending triangle; a breakout could target gains of up to 710%.
Zcash Bounces 16%, But Recovery Looks Fragile
Zcash has clawed back to around $420 after last week’s 50% crash, triggered by a counterfeiting flaw in its Orchard privacy pool. Developers patched it fast, but doubts about supply integrity linger. Analysts see the rebound as a relief rally, with $500 as the key resistance level to watch.
