📣 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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⚠️ Dave Portnoy Profits $258K from ‘Greed’ Memecoin Before It Crashes

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 Announces $2B Convertible Note Offering to Buy More Bitcoin

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 Restores USD Deposits and Withdrawals After Nearly Two Years

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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📣 MANTRA Secures VARA License in UAE

DeFi platform MANTRA has obtained a VASP license from Dubai’s 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 Drops Meme Coin Plans After Market Chaos

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 Argentina’s President Milei’s 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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🔥 Telegram Game ‘Zoo’ Opens Airdrop Claims Ahead of TON Token Launch

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 token’s market value remains unknown until trading begins.

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⚡️ Bittensor (TAO) Jumps 20% on Coinbase Listing News

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 Transaction Fees Drop 70%, Lowest Since 2020

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 Ethereum’s onchain volume dropped 46% to $4.19B, its lowest since November 2024.

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⏬ Pi Network (PI) Lists on OKX, Drops 21% After Initial Surge

Pi Network’s 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 Leads RWA Sector in Transaction Volume

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 Acquisition Deal for Deribit Still On Track

Kraken's plan to acquire crypto options exchange Deribit remains intact, with ongoing talks confirming the deal’s 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. Deribit’s 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 Raises $4M at $90M Valuation for Bitcoin Staking Platform

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 Criticizes Ethereum's "Casino" Culture

Vitalik Buterin expressed disappointment with the Ethereum community’s embrace of blockchain “casinos,” referring to gambling applications on the network. During an AMA, he criticized the ecosystem for being too welcoming to such projects, suggesting it hurt Ethereum’s 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 Ethereum’s 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 Argentina’s political scene, caused a massive loss for traders, with 86% of participants losing $251 million, according to Nansen’s 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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