A memecoin platform named Pump Fun successfully raised $600 million in just 12 minutes during its fundraising round, showcasing the growing interest and investment in cryptocurrency-based projects. The rapid influx of capital highlights the popularity and speculative nature of memecoins in the current market.

President Trump is facing criticism over potential conflicts of interest related to his family's cryptocurrency ventures as he announces two fundraising dinners for TRUMP memecoin holders. Lawmakers have raised ethical concerns regarding these events, which promise exclusive access to the presidency in exchange for significant investments.