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BlockBeats News, January 14, YZi Labs member Siyuan (@cyodyssey) launched the purely charitable project Happy-Sci at the end of 2024. The purpose is to provide unconditional small donations (usually about 200 USDT per person) to PhD students and young researchers worldwide via BNB Chain, aiming to alleviate research pressure and spread "happiness" and support. Recently, the community issued an unofficial meme token called HAPPY-SCI based on this initiative. This meme coin has a 3% transaction tax, which is claimed to be fully donated to the original charity address (a wallet controlled by Siyuan). The community quickly hyped it up, with some users comparing it to "the second GIGGLE." Its market cap once approached 4 million USD, and the donation address received a cumulative equivalent of about 420,000 USD in BNB. Afterwards, Siyuan reiterated that Happy-Sci is a non-public fundraising charity project and will not issue tokens, and destroyed approximately 420,000 USD worth of BNB. Subsequently, the unofficial meme token HAPPY-SCI dropped in market cap to 160,000 USD due to the lack of official endorsement. BlockBeats reminds users that most meme coins have no real use cases and their prices are highly volatile, so investment should be approached with caution.

PANews, January 14 — According to DL News, the law firm Burwick Law has recently filed another lawsuit against the Pump.fun platform and Solana-related parties, accusing them of operating a "manipulated, unlicensed gambling operation." The complaint states that although Pump.fun is packaged as a game of chance, it is in fact a "rigged casino," with its leaders "secretly pre-determining winners and losers and extracting huge profits from retail participants." The lawsuit cites information allegedly obtained from the private messages of Pump.fun's founder, in which co-founder Alon Cohen admits that most investors will "lose money" when investing on the platform, and claims the platform "greatly democratized low market cap token trading, exposing everyone to the extremely low odds associated with gambling on such low market cap assets." The complaint also references allegations from anonymous KOLs, stating that they or their peers were paid to promote meme coins without disclosing the arrangement, and were given advance notice of token information to buy in before promotional campaigns launched. However, the complaint does not provide conclusive evidence that Pump.fun coordinated these so-called pump-and-dump activities, nor does it prove that its executives directly profited from them. The core logic of the complaint lies in accusing the platform of failing to implement fair safeguards, such as not introducing random entry windows to reduce the advantage of bots and insiders in building positions first. Regarding the accusations against Solana, the complaint claims that its network speed, priority fee system, and congestion update in March 2024 enabled meme coin trading at scale, but this connection is considered tenuous by outsiders.

The dispute between Aave DAO and Labs has resulted in a market capitalization decrease of approximately $500 million, while whales increased their holdings during this period. Recently, market sentiment has turned optimistic, and both parties are seeking solutions. The open interest of AAVE has grown significantly. (Santiment)