Dave Portnoy launched GREED on Solana, bought 35% of the supply, and later sold for a $258K profit, triggering a 90% price drop. He then launched GREED2, which briefly hit $28M market cap before collapsing below $750K.
Portnoy claims the project exposes memecoin greed, while critics accuse him of market manipulation.
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Strategy, formerly MicroStrategy, is issuing $2 billion in convertible senior notes at 0% interest, aiming to use the funds for additional Bitcoin purchases. The offering comes just hours after the company warned of a $1.79 billion impairment loss on its BTC holdings, raising concerns about future profitability. Despite the financial hit, Strategy continues to double down on Bitcoin, now holding 478,740 BTC worth over $46 billion.
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Binance.US is reintroducing U.S. dollar deposits and withdrawals for the first time since June 2023, following regulatory challenges with the SEC. The exchange, which had been operating as a crypto-only platform, will gradually roll out ACH bank transfers to eligible users starting today. Despite Binance.US seeing its market share drop from 10% to 0.1% over this period, the company views this fiat reinstatement as a major step toward recovery.
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DeFi platform MANTRA has obtained a VASP license from Dubaiβs regulator VARA, allowing it to operate as a trading platform in the UAE. The project plans to expand into real-world asset tokenization, targeting institutional clients.
Following the news, $OM surged 3.1% in 24h and nearly 30% this week, trading at $7.60 with a $7.3B market cap.
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Mark Cuban has scrapped his plans to launch a meme coin, citing a lack of transparency and fairness in the space. The decision comes after the LIBRA scandal, where Argentinaβs President Mileiβs endorsement led to a $4.5B pump before crashing. Cuban now says "a lot has to change" before he gets involved.
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Popular Telegram game Zoo has begun its ZOO token airdrop ahead of its official listing on KuCoin and Bitget on February 25. Players can now claim tokens off-chain for free, with on-chain claims opening the same day for a 0.1 TON fee.
With 66% of the supply allocated to players, Zoo follows the path of previous TON gaming hits like Notcoin and Hamster Kombat. However, the tokenβs market value remains unknown until trading begins.
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Bittensor (TAO) surged 20% after Coinbase announced its listing today on February 20. Already on Binance and Kraken, the AI-focused token could gain further traction with this addition. Backed by Pantera Capital and Digital Currency Group, Bittensor is seen as a key player in decentralizing AI.
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Ethereum's 7-day average transaction fee plummeted 70% to $0.77, marking its lowest level in over four years. Median gas prices also hit record lows, with a reading of 1.19 GWEI on Feb. 15. While lower fees often drive activity, the decline reflects weak demand, as Ethereumβs onchain volume dropped 46% to $4.19B, its lowest since November 2024.
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Pi Networkβs PI token is now live for spot trading on OKX, marking a key milestone in its transition to the Open Network. The listing initially drove a 10% price increase, but PI quickly dropped 21%, raising concerns about market readiness. While the move boosts liquidity and adoption, extreme volatility suggests uncertainty among investors.
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Ondo Finance (ONDO) dominates the real-world asset sector, maintaining the highest transaction volume despite a market downturn. Its volume peaked at $400M in January before dipping below $300M. Ondo recently expanded into tokenized U.S. securities and holds a $650M share in tokenized Treasuries. With whales owning 88% of ONDO, the token saw $1.2B in large transactions this week and is up 4%, trading at $1.22.
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Kraken's plan to acquire crypto options exchange Deribit remains intact, with ongoing talks confirming the dealβs potential. Deribit, a leader in crypto options trading, saw a 99% growth in 2024 and is a hot commodity for major firms like Kraken and Coinbase, both exploring acquisition opportunities. Deribitβs recent move to the UAE and strong market performance further increase its appeal. The deal, still under discussion, could mark a significant move in the crypto M&A landscape.
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Acre, a bitcoin staking platform, has raised $4 million in funding at a $90 million token valuation. Investors include Draper Dragon, Big Brain Holdings, and Orange DAO, along with angel investors from firms like Lido and Thesis. Acre allows users to earn rewards and "compound" their bitcoin holdings through staking and DeFi integrations. The platform, a spin-out from Thesis, has already collected over $100 million in BTC deposits and plans to expand its team and partner integrations.
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Vitalik Buterin expressed disappointment with the Ethereum communityβs embrace of blockchain βcasinos,β referring to gambling applications on the network. During an AMA, he criticized the ecosystem for being too welcoming to such projects, suggesting it hurt Ethereumβs integrity. Buterin warned that if the community continues to prioritize these types of applications, he may withdraw his participation. His comments reflect growing concerns about Ethereumβs competitive edge as rivals like Solana attract more developers.
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LIBRA Memecoin Scandal Erases $251M in Investor Losses
The LIBRA memecoin, tied to Argentinaβs political scene, caused a massive loss for traders, with 86% of participants losing $251 million, according to Nansenβs on-chain data. The token surged to a $4.5 billion market cap after being promoted by President Javier Milei, but quickly crashed as insiders sold off their holdings, wiping out 90% of the value. Despite some making substantial profits, the event left the majority of traders in the red, highlighting the risks of politically-linked tokens.
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The LIBRA memecoin, tied to Argentinaβs political scene, caused a massive loss for traders, with 86% of participants losing $251 million, according to Nansenβs on-chain data. The token surged to a $4.5 billion market cap after being promoted by President Javier Milei, but quickly crashed as insiders sold off their holdings, wiping out 90% of the value. Despite some making substantial profits, the event left the majority of traders in the red, highlighting the risks of politically-linked tokens.
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In his first interview from prison, Sam Bankman-Fried criticized the Biden administration and sought a pardon from President Trump. He reiterated FTX's solvency but blamed mishandling of its bankruptcy. Bankman-Fried also distanced himself from his past political views, now aligning more with the Republican Party. As FTX begins customer repayments, he insists there was no theft, only mismanagement, and is appealing for clemency.
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Ye (formerly Kanye West) plans to launch the YZY token, with 70% of it reserved for himself. The token will bypass platforms like Shopify, serving as the official currency for his Yeezy brand. Despite controversy, the project mirrors other celebrity-driven crypto ventures, raising concerns about insider control and fan exploitation.
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Rising USDT and USDC supply is fueling speculation of an impending altcoin rally, with analysts viewing stablecoins as βdry powderβ ready to re-enter the market. CryptoQuant CEO Ki Young Ju declared the start of an altcoin season, noting that stablecoin holders are favoring altcoins over Bitcoin. Altcoin trading volume now surpasses Bitcoinβs by 2.7 times, reinforcing the shift. Analysts highlight that stablecoin inflows often precede major market moves, and current trends suggest growing investor interest in altcoins.
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Bybit has suffered a major security breach, with hackers draining $1.46 billion worth of ETH and stETH from its cold wallet. CEO Ben Zhou confirmed the attack, stating that other wallets remain secure and withdrawals are functioning normally. The stolen assets are being liquidated on decentralized exchanges, with around $200 million already sold. This marks one of the largest crypto hacks in history, surpassing past exploits like Mt. Gox and CoinCheck. ETH and BTC prices have dropped following the incident.
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Ethereum security experts believe North Koreaβs Lazarus Group executed the largest crypto exchange hack in history, stealing over $1.5 billion from Bybit. The attack reportedly involved infecting multi-signature wallet signers' devices, tricking them into approving malicious transactions. Blockchain analysis shows that the stolen funds are being laundered through decentralized exchanges. Security researchers warn that these types of sophisticated attacks are becoming more frequent, with potential risks extending to other platforms.
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BitMEX co-founder Arthur Hayes proposed rolling back the Ethereum network to reverse the Bybit hack, arguing that Ethereum had already abandoned immutability with the 2016 DAO hard fork. However, many in the community warn that such a move would disrupt DeFi, bridges, stablecoins, and the broader Ethereum ecosystem. While Hayes supports the idea, critics believe it could damage Ethereumβs credibility, forcing it to choose between decentralization and preventing bad actors from keeping $1.4 billion in stolen funds.
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