PANews reported on December 18th that, according to Decrypt, former Pump.fun developer Jarett Dunn has been sentenced to six years in prison by a British court for abuse of power and fraud. Prosecutors stated that Dunn transferred approximately $2 million in Solana assets from Pump.fun during his tenure , distributing the funds to multiple random addresses, and subsequently publicly admitted to the act on social media. The court found him guilty of fraud and transferring proceeds of crime, with the sentences to be served concurrently. Pump.fun subsequently experienced rapid growth, accumulating nearly $1 billion in revenue.



Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more