Here’s what happened in crypto today

Today in crypto, Bitcoin retail interest is lagging despite the asset reaching new all-time highs, Pump.fun ICO raises $500 million. Meanwhile, BlockFi’s bankruptcy administrator and the DOJ have settled a $35 million crypto asset transfer lawsuit.Bitcoin retail interest ‘almost nowhere to be found’ as BTC taps highsBitcoin has reached consecutive record highs this week, yet retail investors seem reluctant to jump back into the market, according to a crypto researcher.However, demand for spot Bitcoin exchange-traded funds (ETFs) is surging, with Thursday and Friday recording daily inflows of over $1 billion, the first time this has happened on two consecutive days.Bitwise head of research André Dragosch said in an X post on Friday, “Bitcoin is at new all-time highs but retail is almost nowhere to be found,” pointing to the lack of Google search interest in “Bitcoin” despite the asset setting consecutive all-time highs this week.Memecoin launch platform Pump.fun raises $500M in ICOPump.fun, a memecoin launch platform, raised $500 million in an initial coin offering (ICO) on Saturday, with an 18% allocation for institutional investors, and 15% set aside for retail traders.The PUMP token sold out in a matter of 12 minutes, according to Pump.fun, drawing praise from investors, venture capitalists, and industry professionals for showcasing the power of internet capital markets to raise large sums in a short period of time.“Today you learned that you can launch a business onchain, become massively successful, and scale it without requiring traditional finance,” CEO of Helius Labs Mert Mumtaz wrote.The platform’s successful ICO could signal the return of the capital formation strategy that peaked in 2018 before facing regulatory headwinds under Gary Gensler’s Securities and Exchange Commission (SEC).BlockFi bankruptcy administrator and DOJ settle $35M lawsuitThe administrator overseeing BlockFi’s bankruptcy wind-down and the US Department of Justice (DOJ) have reached a settlement to dismiss a $35 million crypto asset transfer lawsuit involving the crypto lender.The agreement was approved by Judge Michael B. Kaplan of the US Bankruptcy Court for the District of New Jersey on Friday, according to court filings.The lawsuit, filed in May 2023, sought to transfer over $35 million in crypto assets from BlockFi to the US government. The DOJ said it had warrants to seize the funds from the BlockFi accounts of two Estonian citizens in a criminal fraud case unrelated to BlockFi’s bankruptcy.At the time, the DOJ argued that the US Bankruptcy Court for the District of New Jersey did not have the jurisdiction to prevent BlockFi from transferring the assets. The dispute arose during BlockFi's bankruptcy proceedings.