Crypto
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Donald Trump Jr.-backed Thumzup Media entering dogecoin mining game in a big way

Thumzup estimates its planned 3,500 dogecoin mining rigs will fetch $22.7 million in annual revenue.

Sage D. Young

On Thursday, Thumzup Media Corporation, backed by Donald Trump Jr., announced plans to increase the total number of dogecoin mining rigs in its operations to 3,500 units, according to its shareholder letter. 

Thumzup’s pending acquisition of dogecoin mining rigs “marks the company’s entry into the rapidly growing $10.5 billion cryptocurrency mining market, which is projected to reach $22.6 billion by 2035, which is an 8.9% CAGR,” the announcement stated. “Importantly, it should diversify our revenue streams while positioning us as one of the few publicly traded, utility-scale Dogecoin miners.”

Year to date, dogecoin has dropped nearly 32% to trade around the $0.22 level. At this price level and with 3,500 mining rigs, the company is estimated to make $22.7 million in annual revenue. Thumzup Media’s stock dropped on the news and is down nearly 3% as of 11:45 a.m. ET.

The announcement comes as senior Bloomberg ETF analyst Eric Balchunas predicts REX Shares and Osprey will be the first to roll out a spot dogecoin ETF by as early as next week. 

REX Shares posted that its spot dogecoin ETF, which will trade under the ticker “DOJE,” is “coming soon” and will be the first ETF to provide exposure to the cryptocurrency that started off as a satirical joke but has since turned into a massive financial instrument with a market capitalization of nearly $32.9 billion.  

The “40 Act” Balchunas referenced is short for the Investment Company Act of 1940, which focuses on the “disclosure to the investing public of information about the fund and its investment objectives, as well as on investment company structure and operations,” per a blog post from the SEC. 

Meanwhile, CleanCore Solutions started a dogecoin treasury. The firm announced earlier this week a $175 million private placement to adopt dogecoin as its primary treasury reserve. 

The firm also said Alex Spiro, a partner of New York law firm Quinn Emanuel Urquhart & Sullivan who has represented dogecoin enthusiast Elon Musk, will join as the company’s board chairman. 

Shares of CleanCore have dropped more than 56% in the last five days.

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Sage D. Young

Ethereum hits highest price in over a month as BlackRock joins the fray of ethereum staking ETFs

Ethereum climbed to its highest level in over a month, briefly touching $2,200 on Friday. The price swing comes amidst a new change among ETFs focused on the second-largest cryptocurrency by market capitalization. 

Yesterday, ETHB — BlackRock’s iShares Staked Ethereum Trust ETF Shares — started trading on Nasdaq, making the investment vehicle the first from the financial titan to include staking, the process of locking up tokens to help secure the network’s consensus mechanism in exchange for rewards. 

The nascent staking ETF has nearly $150 million in net assets, drawing in $43.5 million in inflows on its first day, data from SoSoValue shows. “Pretty good start for any ETF,” Bloomberg ETF analyst James Seyffart noted in a social media post.

While ETHB is BlackRock’s first ethereum staking ETF, it’s not first to market. The Grayscale Ethereum Staking Mini ETF launched in 2024, while the REX-Osprey ETH Staking ETF rolled out last year. 

Ethereum ETFs have seen nearly $157.7 million of inflows in March, on track to record their first monthly inflow since October. 

Meanwhile, the Ethereum Foundation published its mandate, “a document that serves as part constitution, part manifesto, and part guide for the Ethereum Foundation,” on Friday. 

“Our Mandate to EF states what must be cherished to protect the ultimate reason for Ethereum’s existence: user self-sovereignty,” the Ethereum Foundation Board wrote. “To be a part of EF, our own teams must remember that Ethereum must, above all, remain censorship resistant, open source, private, and secure (CROPS).”

The mandate is a new chapter in how the organization views its position in the world, according to ethereum cofounder Vitalik Buterin. “We must see ourselves not just as the Ethereum community, but also as  maintainers of the Ethereum tool within what you might call the CROPS community,” Buterin said. “This means open-mindedness to new conceptions of what things in the world are our natural allies.”

crypto
Sage D. Young

Trump meme coin skyrockets following new gala luncheon invitation for largest holders

President Trump’s meme coin has risen 54.6% in the last 24 hours to trade at a more than one-month high. The token’s price performance is outpacing an overall rise throughout the wider crypto industry, boosting its total market capitalization 4.3%.

What’s driving it? Something we’ve seen before: on Thursday, GetTrumpMemes announced that the top 297 holders of $TRUMP will have the opportunity to attend a gala luncheon next month at Mar-a-Lago, where the president will be a keynote speaker.

Last year a similar competition was announced, and the top $TRUMP whales attended a dinner with him at the Trump National Golf Club in Washington, DC, drawing supporters, critics, and protestors to the event.

Despite the recent spike, the cryptocurrency is down 94.2% from its all-time high of $73.43, set the day before Trump’s inauguration last year, when it topped a $70 billion valuation.

Yaël Bizouati-Kennedy
7h
Bitcoin hits its highest level in a week, crossing $73,000

“A firm break above 73K will set us up for a nice rally,” one analyst noted.

Bitcoin Medals Manufactured At Sakamoto Metal
$1B
Sage D. Young

Meme coin factory Pump.fun has surpassed $1 billion in revenue, making it the first protocol built on the solana blockchain to reach the milestone. 

The platform launched two years ago and has gained immense popularity in part for jump-starting viral cryptocurrencies such as fartcoin, pnut, and Moo Deng.

The solana-based token launchpad has seen around $98 million in revenue so far this year and is on pace to generate $476 million in annualized revenue, a drawdown from 2025’s figure of nearly $651 million, data from DefiLlama shows. 

Pump.fun’s revenue in the last 24 hours, 7 days, and 30 days places the platform among the top earners in the entire crypto ecosystem, trailing only perpetuals venue Hyperliquid as well as stablecoin issuers Tether and Circle. 

The platform uses the vast majority of its revenue to buy back its native token, PUMP, a program aimed at reducing the circulating supply of the token and absorbing sell pressure. Over $323.5 million worth of PUMP has been purchased since the start of the program, offsetting 28.8% of the cryptocurrency’s circulating supply. 

Currently, the price of PUMP is down 77% from its all-time high set in September 2025, per CoinGecko. 

Yaël Bizouati-Kennedy
Bear case
3/12/26
Bloomberg Intelligence analyst keeps prediction for bitcoin to fall to $10,000

Many disagree, saying bitcoin is “too big to fail” and that such a fall would require an “extreme systemic shock.”

Bitcoin Continues Months-Long Steep Decline In Value

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