💸 How Javier Milei Became the Face of the $4.5B LIBRA Scam

GM Defiers!

Argentine President Javier Milei faced intense scrutiny after an X post sent the LIBRA token soaring—only for it to collapse soon after. In other news, the crypto market rebounded as Trump’s tariff stance boosted investor confidence.

BNB Chain also overtook Solana in daily transaction fees for the first time since October 2024, hitting $5.8 million as memecoin activity surged. Elsewhere, Arthur Hayes argues that Donald Trump’s memecoin, TRUMP, could upend politics.

✍️ In today’s newsletter:

• How Javier Milei ended up as the face of the $4.5B LIBRA scam
• Pig butchering crypto scams surged nearly 33% in 2024
• Arthur Hayes says Trump’s memecoin could disrupt politics
• Two Estonians plead guilty to running $577M crypto scheme
• LIBRA token soars to $4B market cap minutes after Milei X post
• Vitalik Buterin calls for 10x increase in Ethereum’s gas limit
• Tariff clarity calms investors, sparking crypto market rebound
• BNB Chain surpasses Solana in daily transaction fees
• Liquity Protocol records millions in outflows after disclosing bug
• XRP jumps as SEC acknowledges Grayscale’s ETF application
• Akash Network founder reveals plan to scale GPU supply
• Polymarket volume dips in February

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• The Stellar Community Fund Evolves to Bring more Projects to Mainnet
• What are Based Applications?

📈 Markets in the last 24 hrs:

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💸 How Incompetence and Greed Led Argentina’s Javier Milei to Become the Face of the $4.5B LIBRA Scam

On Valentine’s Day, Argentina’s President Javier Milei become entangled in the $4.5 billion LIBRA scam. Milei promoted the token on X before quickly backtracking following the token’s collapse.

🏷️ Pig Butchering Crypto Scams Rose By Nearly 33% in 2024: Chainalysis

Pig butchering crypto scams surged 33.2% in 2024, raking in a massive share of the $9.9 billion lost to crypto fraud, according to Chainalysis.

✍️ Arthur Hayes Argues Donald Trump’s Memecoin Will Upend Politics

BitMEX founder Arthur Hayes says Donald Trump’s memecoin, TRUMP, will revolutionize politics by serving as a real-time global opinion poll and boosting campaign engagement.

👩‍⚖️ Two Estonians Plead Guilty to Running $577M Crypto Ponzi Scheme

Two Estonian nationals have pleaded guilty to running a $577 million crypto fraud scheme through their fake mining service, HashFlare, the DOJ announced.

💲 LIBRA Token Soars to $4B Market Cap Minutes After Milei X Post

Argentine President Javier Milei’s X post endorsing LIBRA sent the token’s market cap soaring past $4 billion within 30 minutes.

🔇 Vitalik Buterin Argues for 10x Gas Limit Hike on Ethereum

Ethereum co-founder Vitalik Buterin is pushing for a 10x increase in the blockchain’s gas limit, arguing it would boost censorship resistance and lower fees.

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📢 Crypto Market Rebounds as Tariff Clarity Eases Investor Fears

The crypto market climbed Friday as investor sentiment improved following clarity on Trump’s tariff stance. Bitcoin hit $97,300 while Ethereum surged 4% to $2,700.

🥊 BNB Chain Beats Solana in Daily Transaction Fees

BNB Chain surpassed Solana in daily transaction fees, hitting $5.8M on Feb. 13 as memecoin activity surged. This marks the first time since October 2024 that BNB Chain led daily fees.

📉 Liquity Protocol Suffers $30 Million of Outflows After Disclosing V2 Bug

Liquity Protocol saw $30 million in outflows after warning users of a Liquity V2 Stability Pool bug, DeFiLlama data found.

💰 XRP Surges as SEC Acknowledges Grayscale’s XRP ETF Application

XRP surged to $2.76 on Friday, its highest since Feb. 3, after the SEC acknowledged Grayscale’s XRP ETF application. The 14% rally pushed XRP’s market cap to $160B.

🗣️ Akash Network Founder Unveils Plan to Scale GPU Supply

Akash Network is scaling its GPU supply to meet rising demand while maintaining a 70% utilization rate, CEO Greg Osuri shared.

📊 Polymarket Volume Drops in February, But Active Users Remain Healthy

Polymarket’s volume has dipped in February, reaching just $341 million midway through the month, according to Dune Analytics.

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🌍 ELSEWHERE

• Bitcoin headed for $2 million, says Jan3 CEO revising $1 million forecast (TheStreet)
• Milei’s Crypto Defense Backfires After Aide Interrupts Interview (Bloomberg)
• Grayscale Rolls Out Crypto Fund for Pyth, Expanding Investor Access in Solana Ecosystem (CoinDesk)

🔥TRENDING

• How Incompetence and Greed Led Argentina’s Javier Milei to Become the Face of the $4.5B LIBRA Scam
• Pig Butchering Crypto Scams Rose By Nearly 33% in 2024: Chainalysis
• LIBRA Token Soars to $4B Market Cap Minutes After Milei X Post
• Vitalik Buterin Argues for 10x Gas Limit Hike on Ethereum
• Crypto Market Rebounds as Tariff Clarity Eases Investor Fears
• BNB Chain Beats Solana in Daily Transaction Fees