❕ Dave Portnoy Reveals New Details on $LIBRA, Returns 6M Tokens

Barstool Sports founder Dave Portnoy disclosed new insights into the $LIBRA token launch, stating he returned 6 million tokens after being advised not to disclose the gift. The project's advisor, Hayden Davis, allegedly shifted stance after Argentinian President Javier Milei withdrew his endorsement, triggering panic selling. Davis has pledged to use up to $100M from collected fees to buy and burn the token. Meanwhile, Milei faces impeachment threats and an anti-corruption investigation over his involvement.

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❕ Bubblemaps Links $LIBRA and MELANIA to Same Entity

Bubblemaps claims the same entity orchestrated both $LIBRA and MELANIA, with onchain data showing linked wallets engaged in sniping and profit-taking. $LIBRA’s collapse after $107M insider cashouts mirrors MELANIA’s January drop. Investigations are ongoing, with fraud allegations against President Milei.

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❕ Bitcoin Network Activity Drops 55% to 12-Month Lows

Bitcoin's 7-day transaction average has fallen to 330,000, down 55% from its peak. Speculative activity has shifted to Solana (memecoins) and Base (AI tokens), while Runes and Ordinals now make up just 1% of transactions, with fee revenue plunging to $20K from $60M. The network is reverting to monetary transfers, raising concerns about long-term fee sustainability.

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Tether Engages U.S. Lawmakers on Stablecoin Regulations

Tether, issuer of $USDT, is actively working with U.S. lawmakers to shape upcoming stablecoin regulations. Despite past scrutiny over transparency issues, CEO Paolo Ardoino stated that Tether aims to comply with new laws while ensuring its voice is heard. The company is engaging with policymakers on three proposed stablecoin bills, including the STABLE Act, which could require monthly audits and stricter reserve requirements. Lawmakers aim to finalize regulations by April.

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🙏 Analyst Defends Pi Network Amid Scam Allegations

Analyst Kim Wong has defended Pi Network, citing its global adoption, decentralized blockchain, and KYC compliance as proof of legitimacy. However, critics point to referral-based mining, past data breach claims, and regulatory risks. Despite skepticism, Pi coin has secured listings on OKX, Bitget, MEXC, and HTX, with rumors of a Binance listing fueling further speculation.

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Over $649 million worth of tokens are set to be unlocked this week.

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❕ FTX Begins $18B Repayments Tomorrow, Small Creditors to Get 120.5%

FTX will start repaying creditors on February 18, with claims under $50K receiving 120.5% within three days, while larger claims (up to 175%) begin in Q2 2025. 98% of BTC holders face losses due to a $20K cap, despite Bitcoin trading at $96,500. FTX raised funds through 41M SOL token sales, with Galaxy Digital leading purchases. The repayment process, overseen by BitGo, must be completed within 60 days.

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❕ Milei’s Crypto Scandal Isn’t His First

Argentinian President Javier Milei faces criminal charges over his promotion of $LIBRA, which surged to $4B before collapsing. This isn't his first crypto controversy—in 2021, he endorsed CoinX, an investment platform later shut down by regulators, leading to investor losses. Now, Milei faces lawsuits and impeachment calls, raising concerns over his credibility amid Argentina’s economic turmoil.

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📣 Hyperliquid Launches HyperEVM on Mainnet for Enhanced Programmability

Hyperliquid has launched HyperEVM on mainnet, introducing Ethereum-compatible smart contracts to its Layer 1 blockchain. The initial release supports spot transfers between native HYPE and HyperEVM HYPE, with ERC-20 transfers set for a future update. A bug bounty program has been introduced to ensure security. Hyperliquid’s perpetual swap trading volume reached $197.88B in January, far surpassing competitors.

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🔥 HK Asia’s 1 BTC Purchase Triggers 93% Stock Surge

HK Asia Holdings purchased 1 Bitcoin for $96,150 as a symbolic move toward digital asset adoption, causing its stock to surge 92.98% to HK$5.50. The purchase follows a leadership overhaul, with new executives signaling plans to explore Bitcoin investments, Web3, and financial innovation. While small, the move aligns with broader institutional Bitcoin adoption trends.

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💰 Trump’s TRUMP Token Airdrop Offers $50 to Supporters

Donald Trump’s TRUMP memecoin is offering a free airdrop of three tokens (~$50) to eligible supporters who purchased Trump-branded merchandise. The claim window closes on March 1. While aimed at boosting adoption, the move has drawn criticism from lawmakers accusing Trump and Musk of weakening consumer protections. Analysts remain divided on whether the airdrop will drive interest or increase selling pressure, as TRUMP has dropped 8% in 24 hours, continuing its decline from a $75 peak.

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❕ Abstract Chain Investigates Wallet Drains Linked to Cardex

Ethereum Layer 2 Abstract Chain is investigating wallet drain reports, with the issue seemingly linked to Cardex, an onchain fantasy game. Abstract assured users that this is not a network-wide breach but advised against interacting with Cardex for now. Users reported losses from a few hundred dollars to over $100K, sparking concerns and accusations of a rug pull. The investigation is ongoing.

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📣 Monad to Launch Public Testnet on February 19

Monad, an EVM-compatible Layer 1 blockchain, will launch its public testnet on February 19, featuring 10,000 TPS and 1-second block times. Following a successful closed testnet in 2024, the mainnet is expected later this year. Backed by $225M from Paradigm, Monad aims to enhance scalability and developer accessibility.

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⏬ Solana Extends Losses, Underperforms Bitcoin Amid Meme Coin Collapse

Solana (SOL) has dropped 32% in the past 30 days, significantly underperforming Bitcoin (-8%) and Ethereum (-17%). The decline is linked to the fading meme coin hype, with concerns over pump-and-dump schemes on the network. At $169.74, SOL is down 8.47% in 24 hours and 16.16% over the past week, fueling skepticism about its market stability.

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📄 Daily Recap: Curve Finance Founder Raises $5M, Libra Fallout Continues

▻ Curve Finance founder Michael Egorov raised $5M for his new project, Yield Basis, at a $50M valuation, aiming to optimize liquidity for BTC and ETH holders.
▻ Meteora co-founder Ben Chow resigned following backlash over his involvement with the LIBRA memecoin, while the platform launched an insider trading investigation.
▻ Argentina’s President Milei denied promoting LIBRA, claiming he only intended to "spread the word." The token collapsed 95%, and Milei now faces fraud charges.
▻ Hyperliquid launched HyperEVM on mainnet, introducing Ethereum-compatible smart contracts to its Layer 1 blockchain.
▻ Dave Portnoy mistakenly bought $170K of a fake LIBRA token, causing its price to spike 3,000%, before warning followers it would eventually go to zero.

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🐋 Chainlink (LINK) Whales Accumulate $19M Amid Market Drop

Despite a 9% drop in the past 24 hours, pushing LINK to $17.51, whales have accumulated 1.1M LINK ($19M), signaling confidence in the asset. Cardano’s Charles Hoskinson hinted at potential Chainlink integration, reinforcing its importance in bridging on-chain and off-chain assets. With $15.72 as support and $19.75 as resistance, a breakout could push LINK toward $20–$25 in the coming weeks.

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⏬ Pi Network (PI) IOU Price Drops Ahead of Official Launch

Pi Network’s IOU price has fallen 8% in the past 24 hours as anticipation builds for its February 20 Open Network launch. Technical indicators suggest weakening bullish momentum, with RSI dropping from 86.2 to 40.5 and ADX declining, signaling a possible trend reversal. If the downtrend continues, PI IOU could test $53.3 support, while a rebound could push it toward $100 resistance.

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📣 Ex-Tether CEO Plans New Stablecoin to Rival USDT

Former Tether CEO Reeve Collins is set to launch a new yield-bearing stablecoin, UPS, under the Pi Protocol on Ethereum and Solana by late 2025. Unlike USDT and USDC, UPS will generate passive income through tokenized real-world assets like bonds. Governance token holders will also share in protocol revenue. Collins, who co-founded Tether in 2013, aims to challenge USDT’s $141B dominance in the stablecoin market

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