Solana News on July 9th, 2025

a pretty eventful Wednesday, more news than expected!

1. Pump.fun – Pump.fun officially announced its PUMP token ICO, set for July 12, aiming to capitalize on its momentum in the memecoin sector.

2. Bullish x Solana – Crypto exchange Bullish has partnered with the Solana Foundation to use Solana-native stablecoins for institutional-grade custody, payments, and settlements.

3. Franklin Templeton – Franklin Templeton’s innovation head revealed plans to move the entire product suite onchain over the next decade, expecting traditional institutions to issue their own stablecoins and tokenized assets.

4. Phantom Wallet – Phantom integrated Hyperliquid perpetuals directly into its interface, surprising many by choosing a non-Solana-native perps DEX, and raising questions about alignment within the ecosystem.

5. Solana (SOL) – Solana futures funding rates turned negative amid concerns about L2 competition and institutional MEV worries, though the chain still leads in revenue and staking metrics.

6. Solana ETFs – Solana ETFs saw $78M in inflows, signaling rising institutional interest in altcoin investment products and suggesting broader market confidence in SOL.

7. Eigen Labs – Eigen Labs laid off 25% of its staff to focus efforts on its EigenCloud initiative, restructuring to pursue long-term strategic goals more sustainabl.

8. Trump Media & Technology Group - Filed with the SEC on July 8, 2025, to launch the Truth Social Crypto Blue Chip ETF, holding 70% BTC, 15% ETH, 8% SOL, 5% CRO, and 2% XRP, aiming for NYSE Arca listing.

9. DeFi Development Corp. - Increased its SOL holdings by 64% over 60 days to 690,420 SOL, reaching a market value of approximately $103 million as of July 8, 2025.

10. Jupiter Exchange - Joined the xStocks Alliance to promote financial democratization, aggregating liquidity pools on Solana and integrating with the upcoming Jupiter Lend platform.

11. Cloud Mining (CRYPTO MINING FIRM) - Gained investor attention with a simplified cloud mining platform supporting BTC, XRP, DOGE, SOL, and ETH, offering efficient operations and technical support.

12. Fidelity - Delayed its Solana ETF launch due to SEC review, raising concerns about market stability and investor protection.

13. Pump.fun & LetsBonk - Face concerns over bot-generated meme coins, with Pump.fun planning updates and possible Ethereum expansion amid LetsBonk’s $1.04M daily revenue lead.