Today's Top Crypto Headlines:

Coinbase Slammed for Army Parade | ZKJ Token Crashes | X Suspends Pump.fun | Bitcoin Nears $104K Risk and more...

Author

King Fatrick Gil Añasco
June 18, 2025

Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

  1. Coinbase Criticized for Army Parade: Coinbase is facing backlash for sponsoring a US Army parade coinciding with Trump’s birthday.

  2. ZKJ Token Suffers 80% Crash: Polyhedra Network’s ZKJ token plummeted over 80% following what the team calls a coordinated liquidity attack.

  3. Pump.fun Suspended by X: X suspended 20+ crypto accounts, including memecoin launcher Pump.fun and its co-founder, without explanation. The bans disrupted several platforms and may relate to API policy violations.

  4. 💡Feature of the Day - Bitcoin Drops Near $104K Danger: Bitcoin dipped below $105K, approaching a critical $104K support level, raising fears of a larger correction.


    All this and more in today’s headlines!

📰 News Highlights:

Coinbase Slammed for Army Parade [Source][Source][Source][Source]

Coinbase is under fire from the crypto community for sponsoring a military parade celebrating the US Army’s 250th anniversary.

Critics, including VC partner Adam Cochran, say this sponsorship contradicts Coinbase’s previously stated neutral political stance.

"Special thanks to our sponsor coinbase" This parade is so tacky

— Farrukh (@implausibleblog.bsky.social)2025-06-14T23:10:03.310Z

Cochran exited all Coinbase positions and called the move “bad marketing” that risks hurting crypto adoption.

Crypto users argue that sponsoring a military event undermines the industry’s anti-establishment origins.

🎁Freebie:

Download your free ebook now and take the first step toward mastering CRYPTO IN UNDER 60 MINS!

ZKJ Token Crashes [Source][Source]

Polyhedra Network’s ZKJ token dropped over 80% in value—from $1.92 to $0.32—after what the team called a coordinated liquidity attack.

The incident involved mass token dumps, including more than 3.3 million ZKJ transferred by Wintermute to centralized exchanges during the crash.

The primary liquidity pool, ZKJ/KOGE on PancakeSwap, was reportedly fragile, leading to a cascading selloff into ZKJ’s USDT pool, wiping out nearly $500 million in market value.

X Suspends Pump.fun [Source][Source][Source][Source]

X (formerly Twitter) suspended over 20 crypto-related accounts, including those belonging to memecoin platform Pump.fun and its co-founder Alon Cohen, without providing specific reasons.

The crackdown has disrupted communication for platforms like GMGN and Bloom Trading, which are now working to restore access.

Speculation suggests the bans might be related to third-party API usage—previously prohibited by X in early 2023 due to cost and control concerns.

Pump.fun’s suspension reignited debate around its controversial role in facilitating quick memecoin launches, some of which are accused of being pump-and-dump schemes.

💡 Feature of the Day: 

Bitcoin Nears $104K Risk [Source][Source][Source]

Bitcoin dipped below $105,000 after Wall Street opened on June 17, triggering fears of a potential “rug pull” if it falls through the $104,000 support level.

Analysts flagged suspicious activity in order book liquidity, noting that bid orders appeared to be manipulated—a tactic known as spoofing.

Eleven consecutive red hourly candles confirmed ongoing weakness, though traders remained cautious rather than panicked, expecting further volatility to come.

While some analysts warned of a larger move brewing, others saw hope if Bitcoin could break above $108,000.

😂 Crypto Meme of the Day: 

Meme of the day provided by @Seaworthiness-Klutzy

And that’s it for this today.

See you all tomorrow’s edition!


Jonathan Gibson
UseTheBitcoin.com