Author: Ujunwa Juliet Ihiasota

Article written by Ujunwa Juliet Ihiasota

$99 million was withdrawn from the liquidity pool of the Libra token

12 hours ago 1 min read

A significant crypto scandal has emerged in Argentina involving the Libra token (LIBRA). Around $99 million worth of cryptocurrency was withdrawn from its liquidity pool, raising suspicions of insider involvement. Blockchain analytics firms, Chainalysis and Nansen traced these withdrawals to wallets associated with the token’s creator. Chainalysis found that eight wallets withdrew around $99 million from the liquidity pool. These wallets received tokens directly from the creator, showing a close

Coinbase CEO Brian Armstrong weighs in on meme coins

February 20, 2025 2 mins read

Coinbase CEO Brian Armstrong has shared his views on the growing trend of meme coins. He likens them to early internet fads, such as animated GIFs. While he warns about illegal activities in the sector, he supports a free-market approach. This allows users to make their own investment decisions. Armstrong mentioned on X (formerly Twitter) that he does not actively invest in meme coins, aside from a few test trades.

Hong Kong now accepts Bitcoin and Ethereum as proof of asset

February 10, 2025 1 min read

Hong Kong has taken a significant step by officially recognizing Bitcoin and Ethereum as valid proof of assets for investment immigration applications. This change signals the region’s growing acceptance of digital finance. Reports indicate that at least two applicants have successfully used their crypto holdings to meet the HK$30 million (approximately $3.8 million) requirement for investment immigration. This development shows Hong Kong’s increasing openness to cryptocurrencies within its financial and

Florida proposes a bill to invest state funds in Bitcoin

February 8, 2025 1 min read

Florida Senator Joe Gruters has introduced a bill to include Bitcoin in the state’s investment strategy. If approved, the state could invest up to 10% of its public funds in Bitcoin. This move aligns Florida with other states like Texas, Wyoming, and Ohio, which are also exploring Bitcoin as a financial reserve. Senator Gruters believes Bitcoin can help protect against inflation and stabilize Florida’s finances. He stated, “The state should

Hackers promote crypto scam through Malaysian PM Mahathir Mohamad’s X account

February 7, 2025 1 min read

Hackers recently took control of the X account belonging to former Malaysian Prime Minister Mahathir Mohamad. They used it to promote a fake cryptocurrency called MALAYSIA, which led to a loss of $1.7 million for investors. This incident is part of a troubling trend involving fraudulent political meme coins. A similar scam occurred with the TRUMP token, which defrauded investors of $857 million. The hackers posted that MALAYSIA was the

The SEC reassigns 50 staff, scaling back crypto enforcement

February 6, 2025 2 mins read

The SEC is making significant changes to its crypto enforcement team. Over 50 lawyers and staff members are being reassigned to different roles. This decision reflects a new approach to digital asset regulation under President Trump’s administration. The downsizing follows an executive order aimed at promoting digital asset growth by reducing regulatory barriers. Some SEC lawyers who worked on crypto cases are being moved to other positions. A report from

The US SEC has fast-tracked approval for Bitwise’s Bitcoin and Ethereum ETF in just 45 days

February 1, 2025 1 min read

The U.S. Securities and Exchange Commission (SEC) has quickly approved Bitwise’s spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Fund (ETF). This approval came just 45 days after Bitwise filed the necessary paperwork, a significant reduction from the usual 240-day review period. On January 30, the SEC approved NYSE Arca’s 19b-4 filing, allowing the ETF to be listed and traded. The fund will invest based on the market capitalization of Bitcoin

Coinbase secures a license to operate in Argentina

January 30, 2025 2 mins read

Coinbase has obtained a Virtual Asset Services Provider license in Argentina. This allows the exchange to operate legally in the country’s growing crypto market. With this license, Coinbase can compete with Binance, which received the same license in October. Instead of expanding throughout Latin America, Coinbase is focusing on community engagement and building local business relationships. The company is dedicated to regulatory compliance globally. Recently, it delisted Tether in the

Grayscale and CoinShares file for Litecoin, Solana, and XRP ETFs

January 25, 2025 1 min read

Grayscale Investments and CoinShares are expanding their offerings by filing for multiple crypto exchange-traded funds (ETFs). They are focusing on assets like Litecoin, Solana, and XRP to provide more regulated investment options. Grayscale has applied for ETFs that will track Litecoin and Solana. The Litecoin ETF will follow the price of LTC without requiring direct ownership, building on Grayscale’s existing Litecoin Trust. Additionally, Grayscale has sought to convert its Grayscale

Utah introduces a bill allowing public fund investments in crypto

January 23, 2025 2 mins read

Utah has proposed a new bill, the Blockchain and Digital Innovation Amendments (H.B. 230), which could allow the state treasurer to invest public funds in digital assets such as cryptocurrencies, stablecoins, and NFTs. Introduced by State Representative Jordan Teuscher, the bill aims to create a clear framework for these investments while ensuring regulatory oversight and financial responsibility. The proposal allows for up to 10% of public funds to be invested

Trump-backed World Liberty Financial sells 20% of its token supply

January 20, 2025 1 min read

World Liberty Financial, a DeFi project linked to President-elect Donald Trump, experienced a significant increase in governance token sales after Trump and Melania Trump introduced their memecoins. The project announced on X that it has successfully sold 20 billion tokens, which is 20% of its total supply of 100 billion tokens. Due to high demand, an additional 5 billion tokens (5% of the supply) are now available for sale. As

Malaysia plans to adopt crypto and blockchain technology

January 16, 2025 1 min read

Malaysia’s Prime Minister, Datuk Seri Anwar Ibrahim, is focused on incorporating crypto and blockchain technology into the country’s financial systems. He is collaborating with Binance and learning from the United Arab Emirates (UAE) to establish Malaysia as a regional fintech leader. During a recent three-day visit to Abu Dhabi, Anwar met with UAE officials and Binance co-founder Changpeng Zhao (CZ) to discuss strategies for cryptocurrency adoption. He emphasized the need