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Crypto

Hunter Biden memecoin hits $144 billion then plunges 95 percent in 30 minutes

A memecoin called LAPTOP, which Hunter Biden helped found, surged immediately after trading began and then fell more than 95 percent in about 30 minutes. Cryptopolitan reported the token started trading on Coinbase-built Base and peaked within minutes. Arkham estimated fully diluted value briefly hit $144 billion before dropping to $5 billion. Large token transfers were detected, and one tracked wallet suffered heavy losses. Analysts also warned about concentrated, recently created top holder wallets.

Crypto

Zcash hits $1,290, highest since November 2016; 1-year return 2,413%

Zcash (ZEC) rose to $1,290, its highest level since November 2016, blockchain outlet U.Today reported. The token posted a 1-year return of 2,413% and was up 10.55% on the day at $1,282, with weekly gains of 57.23% and a 30-day rise of 154% on CoinGecko data. Large holders bought ZEC, open interest rose to $2.91 billion, and options began trading for a U.S.-listed privacy-asset ETP.

Crypto

BitMine builds 5.9 million ether; 5 percent stake possible without further buys

BitMine, led by Tom Lee (톰 리), has lifted its ether holdings to 5.9 million, nearing a goal of securing 5 percent of circulating supply. Most of its holdings are staked, and an analysis suggests staking rewards alone could cover the remaining shortfall under current assumptions. Calculations vary with changes in overall ether supply and staking yields. The firm also faces choices on whether to hold or convert staking rewards into dollars.