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- 7/31/24: Pump To The Moon 💊🚗❄️
7/31/24: Pump To The Moon 💊🚗❄️
Top News
Pump.Fun hits new daily revenue all-time-high of $2.36M
California DMV digitizes 42M car titles on the Avalanche Network
Icebreaker raises $5M for decentralized professional network

Specs’ Breakdown
1. Pump.Fun hits new daily revenue all-time-high of $2.36M
BREAKING: @pumpdotfun BECOMES THE PROTOCOL WITH THE HIGHEST 24H REVENUE
— DEGEN NEWS (@DegenerateNews)
9:19 AM • Jul 31, 2024
⌐◪-◪ → Pump.Fun just hit a new daily revenue all-time-high of $2.36M, making it the #1 protocol by 24-hour revenue.
Yes, that’s right, it outpaced every protocol, including Ethereum, Lido, and Maker.
For context: that’s 3x their average daily revenue over the past week, and 18% higher than their previous record of $2M on July 1st.
Impressive numbers for a company only 6 months old.
Meanwhile, Dumpy.Fun launched a platform for shorting memecoins on Solana, you can join for early access here.
Pump.Fun’s success reminds me of the early days of NFT infra, when companies like OpenSea were making money hand over fist helping new artists launch and distribute their NFTs.
Do you think Pump.Fun’s dominance will last, or will it fizzle out? Let me know in Specs.Chat!
2. California DMV digitizes 42M car titles on the Avalanche Network
Just In: Avalanche is bringing the California DMV onchain
The DMV is launching its own chain on Avax and have already digitized 42M car titles onchain.
Massive real-world blockchain application, happening on Avax.
— TylerD 🧙♂️ (@Tyler_Did_It)
4:27 PM • Jul 30, 2024
⌐◪-◪ → The California DMV just launched its own chain using Avalanche to modernize vehicle title transfers.
They’ve already put 42M car titles on-chain for California’s 39M residents.
This is a significant step in modernizing public records and blockchain adoption. I hope it’s a successful case study for other states considering blockchain tech.
You can see how this could apply to other public records like land ownership, zoning, crime, voting, and more.
I wonder how reversible these transactions are. For example, what happens if someone accidentally transfers their title to the wrong address or loses access to their account? The DMV likely retains “total system control” here, eliminating blockchain’s “trustlessness”, but hopefully that’s offset with aggressive transparency, making all changes easily trackable.
Can you think of any other states with public records on-chain? Let me know in Specs.Chat!
3. Icebreaker raises $5M for decentralized professional network
We’re thrilled to announce that CoinFund has led the $5M seed round of @icebreaker_xyz.
A brief of our investment thesis + how the team is building the premier open professional network:
— CoinFund (@coinfund_io)
11:15 AM • Jul 31, 2024
⌐◪-◪ → Congratulations to Icebreaker for raising a $5M seed round, led by CoinFund. Icebreaker is an open and decentralized professional network founded by my friend and fellow CryptoPunk, Jack Dille.
Now that they’ve achieved product-market fit, they’re focused on growing to 1M users by the end of the year. For context: LinkedIn has 1B users worldwide, so while Icebreaker has a long way to go, the total addressable market is huge.
If you haven’t checked out Icebreaker:
I really believe in their team and their alignment with the web3 ethos, they are building things the “right” way.
Bonus: Jack reads Specs daily and says it’s his “favorite news source” — so please join me in congratulating Jack below!

Everything Else
⛓️ Crypto & DeFi
Terra Blockchain restarts after $4M exploit using IBC hooks
Elon Musk says there’s 'some Merit' in Bitcoin
Blackbird introduces crypto payments at NYC’s hottest restaurants
ZKX Protocol shuts down amid ‘economic challenges’
Telegram CEO says he has over 100 biological children
Lava Networks launches mainnet and airdrops 55M tokens
Movement Labs joins Polygon’s AggLayer, testnet attacks $160M TVL
Crypto losses due to hacks and scams surpass $1B year-to-date
Router Protocol launches mainnet designed for chain abstraction
Animoca Brands partners with Layer Zero Labs on interoperability
🏦 Wallstreet & VC
Grayscale Bitcoin Mini Trust starts trading today
Nvidia becomes more volatile than Bitcoin and Ether
Circle’s stock valued over $5B on secondary market ahead of IPO
Goldman Sachs CEO says Bitcoin could be a 'store of value
Bernstein says mining hardware is a $20B opportunity
QCP Capital forecasts greater volatility for Ethereum vs. Bitcoin
Hyperbolic raises $7M for AI cloud startup powered by blockchain
Mintify raises $3.4M in additional funding for NFT infrastructure
🏛️ Legal & Regulatory
Trump campaign raises $21M at Bitcoin Conference in Nashville
Paul Krugman calls Bitcoin ‘economically useless’
SEC posts information page for investors harmed by Terraform fraud
Dem Congressman says Harris is better for crypto than Biden
BitClout founder charged with wire fraud and civil securities charge
🌎 Rest of the World
Coinbase concerned over ongoing regulation by enforcement
Worldcoin launches World ID verification in Australia
Dunkin’ Donuts is giving out free BTC with donuts in South Korea
Russia passes bill to legalize crypto in attempt to dodge sanctions
🖼️ NFTs & Metaverse
Doodles launches its own streaming platform with exclusive content
'Hamster Kombat' hits 300M players, reveals token allocation plans
TON Game ‘BANANA’ hits 1M users in less than 72-hour
DumpyDotFun lanches memecoin shorting platform on Solana
Draft Kings kills NFT business citing 'legal developments’