Solana Labs and Jito Labs have been named as co-defendants in an amended federal lawsuit alleging their involvement in a $1.5 billion fraud connected to the Solana-based memecoin launchpad, Pump.Fun. The lawsuit, filed by Burwick Law in the Southern District of New York, claims that these firms were not just infrastructure providers but active participants in a scheme that included illegal gambling, wire fraud, and unlicensed money transmission.

Block Inc., the fintech company founded by Jack Dorsey, has officially joined the S&P 500 index as of July 23, 2025, replacing Hess Corporation after its acquisition by Chevron. This move marks Block as the third publicly listed company in the S&P 500 to hold Bitcoin on its balance sheet, alongside Tesla and Coinbase. Block currently holds 8,584 BTC, valued at approximately $1 billion, making it the 13th-largest corporate Bitcoin holder globally.

The U.S. Senate Banking Committee has released a new discussion draft called the “Responsible Financial Innovation Act,” aiming to overhaul the regulatory framework for digital assets in the United States. This draft, which follows the recent CLARITY Act, seeks to provide clearer definitions and regulatory boundaries for digital assets, with a strong focus on investor protection and regulatory clarity.