Scenius Sync (Issue #140)
Argentinean President Javier Millei Accused of Fraud For Crypto Endorsement, Coinbase Revenues Surge Amid Bitcoin Boom and Retail Return, Doodles To Launch $DOOD Token On Solana, Yuga Sells Meebits
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Essential News 🗞
Javier Milei accused of fraud over promotion of cryptocurrency
Lawyers in Argentina have brought a fraud case against the country’s President Javier Milei for promoting a cryptocurrency whose value soon plummeted. The libertarian leader wrote about a digital currency called $LIBRA in a tweet on Friday. The cryptocurrency was aimed at “encouraging economic growth by funding small businesses and startups”, he said, before deleting his social media post a few hours later. His message included a link to a website where the digital coins could be obtained. The domain name, vivalalibertadproject.com, is a reference to a well-known phrase Milei uses at the end of his speeches, which translates as “long live freedom”.
Additional coverage from CoinTelegraph here.
Coinbase Revenue Surges to $2.3 Billion as Bitcoin Booms and Retail Returns
The election of a new commander-in-chief benefited Coinbase's bottom line last quarter, with the exchange reporting a stronger-than-expected profit on Wednesday as transaction revenue surged 270% alongside last year’s presidential election. Revenue derived from transaction fees, which typically accounts for a majority of Coinbase sales, reached $1.56 billion in Q4, up from $572.5 million the previous quarter, when the exchange’s customers had apparently grown less engaged over the summer. Amid the recent trading boom, Coinbase’s total revenue rose to $2.3 billion, up from $954 million a year ago and surpassing Wall Street expectations of $1.84 billion, according to FactSet data. Posting an earnings per share mark of $4.68, Coinbase disclosed $1.3 billion in Q4 profit, more than doubling analysts’ $2.11 estimate.
More on Coinbase here : Coinbase's full-year revenue reaches $6.1 billion, more than double from 2023
Binance co-founder CZ dismisses crypto exchange sale rumors
Binance co-founder and former CEO Changpeng Zhao denied rumors that the cryptocurrency exchange is up for sale. “Some lowly self-perceived competitor in Asia fudding about Binance (CEX) for sale,” Zhao said on Feb. 17 on X. “As a shareholder, Binance is not for sale.”
But, CZ says Binance could sell a minority stake in the company 'over time'
Strategy Could Be Eligible for S&P 500 Inclusion in June if Bitcoin Closes Q1 Above $96K
Strategy could qualify for S&P 500 inclusion as early as June 20, if Q1 2025 earnings are strong enough to offset prior bitcoin-driven losses. For that, bitcoin would need a Q1 closing price above the company's average purchase price of $96,337 during those three months. A close below that level would force Strategy to book losses, perhaps impeding S&P inclusion.
In related news, CalSTRS pension fund reports holding $83 million in MSTR shares
BitGo plans to go public as early as Q2 2025: Bloomberg
Major U.S.-based crypto custodian BitGo plans to go public via an initial public offering as early as the second half of this year, according to Bloomberg.
Innovation & Adoption 💡📈
Ethereum NFT Brand Doodles Reveals Solana Token Amid Pivot Away From 'Extractive' Corporate Deals
With crypto markets surging and once-existential regulatory concerns melting away hour by hour under the Trump Administration, industry leaders are tacking hard to aggressive growth strategies unthinkable even months ago. Enter Doodles, one of the struggling NFT sector’s top brands. Under the stewardship of former Billboard executive Julian Holguin, Doodles weathered the yearslong crypto bear market by building out one of the most prominent awareness campaigns in crypto— snagging partnerships with the likes of McDonald’s, Adidas, and pop music sensation Pharrell Williams. But now, the company is changing course, replacing its seasoned top executive with the NFT collection’s original artist, disavowing convoluted corporate tie-ins, and launching its own token.
OpenSea to Launch SEA Token And New Platform, Can NFTs Come Back?
The platform is embracing cross-chain trading, launching an airdrop, and slashing fees as part of its ambitious overhaul. The OpenSea Foundation has officially announced the upcoming launch of the SEA token, a long-speculated digital asset designed to reward the marketplace’s most active, loyal, and historical users. This marks a significant milestone for OpenSea as it seeks to reclaim dominance in the NFT ecosystem while reinforcing its commitment to decentralization and interoperability. While specific details about token distribution remain undisclosed, the OpenSea Foundation confirmed that the airdrop will not require know your customer (KYC) verification, and U.S. users will be eligible to participate.
Ahead of Their Time': Meebits Ethereum NFT IP Sold as New Owner Reveals Bits Rewards
Ownership of Meebits, the tokenized metaverse avatar IP launched by CryptoPunks creator Larva Labs in 2021, has changed hands for a second time. The Meebit Company (aka MeebCo), a new firm backed by crypto venture fund 1confirmation, announced Friday that it has acquired the Ethereum NFT IP and collection from Yuga Labs, the previous owner and creator of the Bored Ape Yacht Club.
Solana memecoin launchpad Pump.fun launches mobile app
The Solana memecoin launchpad Pump.fun unveiled Friday a mobile app supporting iOS and Android devices. The launch allows users to buy, sell and create coins for free from their mobile device. In addition, Pump.fun users can make watchlists and manage their digital portfolio in-app, the platform wrote on the social media platform X.
Standard Chartered, Animoca Brands and HKT establish joint venture to issue HKD-backed stablecoin
Standard Chartered Bank (Hong Kong) Limited (“SCBHK”), Animoca Brands, and HKT have entered into agreements to establish a joint venture (“JV”) with the intention to apply for a license from the Hong Kong Monetary Authority (“HKMA”) in the new regulatory regime(1) in order to issue a Hong Kong dollar-backed stablecoin.