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Quick Take Barstool Sports founder Dave Portnoy appears to have mistakenly invested nearly $170,000 worth of Solana buying a random LIBRA token, not the one grabbing headlines in recent days. The LIBRA token Portnoy purchased, which has a different contract address than the memecoin famously linked to Argentinian President Javier Milei, shot up in price after the memecoin trader bought it. Portnoy could lose more than half of what he paid for the illiquid token if he liquidates his position.
Quick Take Buyers of Trump-branded watches, fragrances, sneakers or digital collectible cards may be eligible for a TRUMP memecoin airdrop. Users will get three TRUMP tokens no matter how many products they purchased, as long as they bought the items before Feb. 15.
Quick Take Argentinian President Javier Milei faces fraud charges over his involvement in the Solana-based LIBRA memecoin, which collapsed 95% from its peak. An Ethereum user burned 500 ETH ($1.38 million) on Monday and 603.38 ETH ($1.67 million) in total over the past seven days to spread bizarre warnings about alleged “brain control” technology via onchain messages.
Quick Take Standard Chartered, Animoca Brands and HKT have teamed up to issue a Hong Kong dollar-backed stablecoin. The initiative comes as Hong Kong prepares to pass a bill regulating stablecoins.
About 500 ETH ($1.37 million) was sent to the Ethereum burn address. An accompanying cryptic message accused Kuande Investment executives of misconduct. The same address previously made significant donations to WikiLeaks and a Ukraine donation address.
SOL is predicted to soar to as much as $1,000 in the near future. XRP and ETH have also formed technically bullish setups in their price action. ADA is also forecasted to claim $1 as the broader market remains sluggish.
Fed’s hawkish stance and unexpected inflation data drove digital asset outflows, with Bitcoin and Ethereum taking major hits.
- 12:44The Bitcoin whale "Spoofy" increased its holdings of BTC worth about $340 million during the market downturnThe Bitcoin whale "Spoofy" increased his holdings by $344 million in Bitcoin on CEX during the market downturn. It is reported that he bought 4,000 Bitcoins when the price fell to the range of $82,000-$85,000. Spoofy has influenced the Bitcoin market multiple times. In 2017, this trader was accused of illegal market manipulation.
- 12:43Bloomberg: Suspected outflow of Bitcoin ETF funds injected into traditional US stock trust fundsAccording to data compiled by Bloomberg, Bitcoin ETFs have seen an outflow of about $2.1 billion for six consecutive days, marking the longest period of capital outflows since June last year. Fidelity Wise Origin Bitcoin Fund (FBTC) and iShares Bitcoin Trust ETF (IBIT) are the two funds with the most capital outflows. Despite the capital outflow from Bitcoin ETFs, investors took advantage of recent sell-offs in the U.S. stock market to inject nearly $7 billion into Invesco QQQ Trust (QQQ) and SPDR SP 500 ETF Trust (SPY) in a single day.
- 12:42The UK is introducing a new crime bill, expanding the power to seize cryptocurrenciesAccording to Decrypt, the UK government has proposed a new bill that expands its power to seize and destroy cryptocurrencies associated with criminal activities. Following the first reading of the "Crime and Policing Bill" in the House of Commons, this bill is currently undergoing a second reading and will soon enter committee review. The new legislation aims to enhance law enforcement's ability to confiscate illegal crypto assets and return them to victims while strengthening the country's overall means of combating economic crimes. A key provision of this bill grants expanded powers for Royal Courts to handle seizure orders involving cryptocurrencies. The bill also outlines how assets that must be destroyed are handled, ensuring their value is correctly assessed based on market prices at time of destruction. In addition to expanding seizure powers, it includes provisions simplifying asset recovery procedures allowing law enforcement agencies recover stolen funds and return them back to victims. The aim is ensuring those responsible for criminal acts involving digital assets do not retain benefits from their illegal activities.