GuShiio.com Binance Alpha launched six projects including BROCCOLI (f2b), CZ’S DOG and Broccoli (f3b); former Coinbase CTO: Traditional IPOs and mergers and acquisitions have been blocked, and securities token issuance (STO) on the blockchain may become a new financing path; the US SEC confirmed receipt of Bitwise’s spot XRP ETF application.
Today’s top news tips:
Google is exploring using the “Google Login” feature to log in to Bitcoin Wallet
Strategy announces the issuance of $2 billion in convertible bonds to support future Bitcoin purchases
US SEC confirms receipt of Bitwise’s spot XRP ETF application
Curve founders ‘new project, Yield Basis, raises $5 million with a $50 million token valuation
Binance Alpha launches BROCCOLI (f2b), CZ S DOG and Broccoli (f3b)
FTX’s next round of repayment allocation will begin on May 30
Former Coinbase CTO: Traditional IPOs and mergers and acquisitions are blocked, securities token issuance (STO) on blockchain may become a new financing path
Zhao Changpeng: Will donate all tokens received in his wallet
Regulation/macro
The Hong Kong Securities and Futures Commission releases the “A-S-P-I-Re” roadmap to plan the regulatory framework for the virtual asset market
According to the latest regulatory roadmap “A-S-P-I-Re” released by the Hong Kong Securities and Futures Commission (SFC), Hong Kong will further improve the supervision of the virtual asset market to balance innovation and risk management. The global virtual asset market will exceed US$3 trillion in 2024. SFC has established a series of regulatory mechanisms since 2018, including virtual asset trading platform (VATP) licenses and the first batch of spot ETFs in Asia. However, the market still faces liquidity fragmentation, regulatory arbitrage and investor protection issues. The roadmap includes five pillars: Market Access (Access), Safeguards (Safeguards), Product Innovation (Products), Infrastructure (Infrastructure) and Relationship Management (Relationships), and proposes 12 measures, such as optimizing the licensing system, promoting the supervision of OTC and custody services, studying allowing professional investors to trade derivatives and Staking, strengthening market monitoring and cross-border cooperation. SFC emphasized that the framework will promote Hong Kong as a trusted virtual asset liquidity center while ensuring market stability and investor protection.
Coinbase executives have been sued by shareholders, accused of misleading investors about the company’s bankruptcy risks and violating securities laws
Dave Portnoy sold the Greed token he created, causing the price to plummet, and the Greed2 token he created was also at risk.
According to Lookonchain monitoring, Dave Portnoy (@stoolpresidente) created and purchased 357.92 million Greed units (35.79% of the total supply). He sold all 357.92 million Greed units in one deal, causing the price of Greed to plummet 99%. He made approximately $258,000 through Greed. Next, Dave Portnoy created Greed2, which currently holds 268.25 million Greed 2s (26.8% of the total supply). Please ensure the safety of your funds and pay attention to risks.
Schwab Financial establishes the position of director of digital assets to provide cryptocurrency services
According to The Daily Hodl’s signing to Barron’s Weekly, financial services giant Charles Schwab is creating a new executive position as the company expands its business reach into crypto-asset investment. This new position is Director of Digital Assets and will be responsible for Schwab’s overall crypto asset strategy. Joe Viettri, who was the head of network at the financial services giant’s branch offices, will become its first director of digital assets. Schwab, which manages total assets of approximately US$10.33 trillion in customers, has provided customers with access to cryptocurrencies through regulated products such as the Bitcoin Spot ETF, which were approved in the United States in January 2024. Under Vietri’s leadership, the financial services giant is planning to expand the range of its cryptocurrency products. During a fourth-quarter earnings conference call last month, Voster said Schwab’s clients are increasingly interested in crypto assets.
Google is exploring using the “Google Login” feature to log in to Bitcoin Wallet
According to Crypto Briefing, Kyle Song, a Google Cloud Asia-Pacific Web3 expert, revealed in his speech at the Hong Kong Bitcoin Technology Carnival that Google is committed to making Bitcoin wallets as user-friendly as Web2 applications. Google’s vision is to allow users to use existing Google accounts to log in to Bitcoin wallets. The purpose of this goal is to bring Bitcoin closer to mainstream users. Song said that the launch of the spot Bitcoin ETF in 2024 will open up a more convenient path for large Web2 companies such as Google to enter the Bitcoin industry. Since last year, the technology giant has been working with companies and developers in the Bitcoin space. “We are exploring ways to lower the entry barrier so Web2 users can easily use Bitcoin,” Song said. When talking about bridging the technological gap between traditional finance and blockchain-based finance, Song pointed out that Google is focusing on improving security. Song said: “We are also working on solutions to address the trust issue between on-chain and off-chain systems. Google is particularly considering how to use advanced encryption technologies such as zero-knowledge proof (ZKP) to improve reliability.”
Former US SEC official: SEC may end litigation against Coinbase, Binance, Ripple and other crypto companies
John Reed Stark, a former U.S. SEC official, posted on Platform X that the SEC’s lawsuit against Coinbase may have ended because the regulator’s newly established cryptocurrency working group is seeking to resolve previous enforcement actions against the exchange. Stark explained why the SEC requested a 28-day extension to respond to Coinbase’s petition for permission to appeal. It said: “According to the three-page joint motion, the SEC’s review of cryptocurrency-related issues is ‘ongoing’ and the extension will give the SEC time to conduct ‘appropriate review’ as it prepares its response to Coinbase’s petition. In other words, the SEC’s lawsuit against Coinbase may be over.” Stark estimates that the SEC’s lawsuit against Binance will see the same outcome. He cited a joint motion filed Feb. 11 in which both sides argued that the SEC’s cryptocurrency task force “may influence and facilitate a potential resolution of the case.” The same goes for Ripple, which has been mired in litigation with the SEC since 2020, and “expects that all cryptocurrency-related appeals, including the Ripple case, will be suspended and may even be withdrawn completely.”
Pro-cryptocurrency Howard Lutnick has been confirmed by the Senate as U.S. Commerce Secretary
Cointelegraph reports that pro-cryptocurrency Howard Lutnick has been approved by the Senate as U.S. Commerce Secretary. He has hundreds of millions of dollars in Bitcoin exposure.
Crypto hosting company BitGo adds over-the-counter trading business and is considering IPO
According to Bloomberg, crypto hosting company BitGo Inc. has launched a global over-the-counter trading platform for digital assets as it plans to go public. BitGo expanded its business as cryptocurrency prices rose and institutional investors such as hedge funds increased demand for cryptocurrencies. Earlier this month, people familiar with the matter revealed that the company was considering an initial public offering. BitGo said in a statement on Tuesday that the over-the-counter trading service desk will provide institutional investors with spot and options trading services as well as loan services to facilitate margin trading. Since the beginning of last year, the company has begun serving selected customers, with billions of dollars in transaction volume and a loan book exceeding $100 million. In addition to the United States, the transaction service desk can also be used in other jurisdictions, including Hong Kong and countries in the Middle East.
Bullish obtains Hong Kong virtual asset trading platform license
According to the Hong Kong Economic Journal, the Hong Kong Securities and Futures Commission has approved another virtual asset trading platform license. The latest approval is the virtual asset trading platform Bullish, increasing the number of licensed virtual asset trading platforms in Hong Kong to 10. Liu Dehao, senior vice president and head of global sales at Bullish, said in an earlier interview with this newspaper that Hong Kong is an important business location and currently has more than 100 employees in Hong Kong. He hopes to focus on institutional business after receiving the license. It is worth noting that Bullish has previously acquired CoinDesk, a comprehensive media, event and index platform. At present, there are 8 platforms on the list of applicants for virtual asset trading platforms. Ye Zhiheng, executive director of the Intermediary Department of the Securities and Futures Commission, recently said that the market’s licensing standards for the Securities and Futures Commission are becoming clearer and new licenses will be issued. However, whether all applicants are licensed depends on whether they meet the requirements.
US SEC confirms receipt of Bitwise’s spot XRP ETF application
According to The Block, the U.S. Securities and Exchange Commission (SEC) confirmed on Tuesday that the Cboe BZX exchange, a unit of the Chicago Options Exchange Group, submitted an application on behalf of Bitwise to list and trade shares on the Bitwise XRP Spot ETF. In a document confirming the proposal, the SEC required comments to be submitted within 21 days of the document’s publication in the Federal Register. The agency can then decide to approve, disapprove or “initiate the process.” The 19b-4 document is the second step in a two-step process of proposing a crypto ETF to the SEC. Once confirmed, the document will be published in the Federal Register, initiating the SEC’s approval process. The SEC has previously confirmed XRP spot ETF applications filed by 21Shares and Grayscale, but has not yet confirmed applications from Canary Capital and WisdomTree. According to Bloomberg ETF analysts James Seyffart and Eric Balchunas, there is a 65% chance of an XRP-based ETF being approved.
LIBRA token co-founder Hayden Davis claims he bribed Argentina’s president’s sister
According to CoinDesk, a key figure behind the Libra token boasted that he had spent money to gain access to Argentine President Javier Milei’s inner circle months before the meme coin was riddled with scandal and failed to launch. According to text messages reviewed, Kelsier Ventures CEO Hayden Davis claimed that he could “control” Milei because he had been making payments to Karina Milei, a heavyweight figure in Javier Milei’s administration and the president’s sister. Davis claimed in a text message in mid-December last year that “I controlled the guy” and added,”I wire money to his sister, and he would sign anything I said and do as I wished.” It is unclear whether there were monetary transactions between Davis and Milei’s inner circle before the Libra release. In a text message last December, Davis claimed that he could get Milei to promote the project on social media. Two months later, Milei’s tweet about Libra helped its price soar. But after discovering evidence on the chain that showed suspicious transactions, Milei deleted the tweet just five hours after it was posted, when Libra’s price had plummeted. In response, Libra token co-founder Hayden Davis denied in a statement that he had paid bribes to Argentina’s president, calling media reports “politically motivated.” When asked if he denied making such allegations via text message, his public relations representative said Hayden had no memories or records on his mobile phone.
Strategy announces the issuance of $2 billion in convertible bonds to support future Bitcoin purchases
Hours after issuing a profit warning, Strategy (formerly MicroStrategy) said on Tuesday it plans to issue $2 billion in zero-interest convertible senior bonds, The Block reported. Strategy intends to use the proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin. Unless repurchased, redeemed or converted early, these bonds will mature on March 1, 2030. According to the announcement, Strategy will settle the conversion in cash, Class A common stock or a combination of both. Strategy also plans to grant initial buyers the option to purchase up to $300 million in additional bonds within five business days of the offering. Earlier on Tuesday, Strategy issued a profit warning in a 10-K filing with the U.S. SEC, citing potential tax increases. Strategy reviewed its net loss for the fiscal year ended December 31, 2024, mainly due to $1.79 billion in digital asset impairment losses. The company warned that “profitability may not be restored in the future,” especially if there is a significant fair value loss on its Bitcoin holdings. It added that a significant decline in the market value of Bitcoin could have an adverse impact on the company’s solvency. Strategy said its corporate analytics software business will not generate positive cash flow in 2024 and the company may need to rely on equity or debt financing to meet its financial obligations. Success in obtaining such financing depends largely on the market value of its Bitcoin holdings, and a significant drop in the value of Bitcoin could trigger liquidity risk, which in turn could force companies to sell Bitcoin at unfavorable prices. The company explained that this could have a significant impact on its financial results and future financing prospects. Strategy acquired approximately 258,320 BTC units in 2024. After its latest acquisition between February 3 and 9, 2025, the company currently holds 478,740 BTC units worth more than US$46 billion.
financing
Modular revenue layer Cygnus completes a US$20 million Pre-Seed round of financing, with Manifold and others participating
According to official news, modular revenue layer Cygnus announced the completion of a US$20 million Pre-Seed round of financing, with Manifold, OKX Ventures, Mirana Ventures, Optimism Retro Funding and others participating. The financing will accelerate Cygnus ‘growth and expand its product range. According to reports, Cygnus is a modular actual revenue layer that enables blockchains to customize their own re-pledge networks and achieve shared security. In addition, Cygnus is building the first Web3 Instagram application layer that integrates on-chain and off-chain assets to power the creator economy.
Curve founders ‘new project, Yield Basis, raises $5 million with a $50 million token valuation
According to The Block, Michael Egorov, founder of decentralized exchange Curve Finance, is working on a new project called Yield Basis and has raised funds for it. According to a presentation dated January 11, 2025, Yield Basis aims to initially help tokenized Bitcoin and Ethereum holders earn profits through market-making by mitigating immutable losses. The presentation wrote that Yield Basis was raising $5 million in a token round financing at a fully diluted valuation of $50 million. The project will sell investors 10% of its supply of “YB” tokens, or 100 million of a total of 1 billion tokens. Investors ‘token unlocking schedule includes a six-month lock-up period, followed by two years of linear unlocking. People familiar with the matter said Yield Basis began the fundraising process last month and raised funds within two weeks; investor interest was “huge” and the round was “oversubscribed by 15 times.” When contacted for comment, Egorov confirmed that he was working on the Yield Basis project and had raised funds based on the above valuation. He also verified the details in the presentation. The project’s token YB will be allocated to different categories. According to the presentation, 30% of the total supply will be allocated to community incentives, which will be allocated through liquidity mining. Other allocations include 25% for teams, 15% for development reserves, 10% for Curve technical licensing, and 10% for collaboration. Egorov said: “Curve technology licenses are likely to be used to vote for the crvUSD stable pool. This seems to fit best with the Curve ecosystem and help YB.” Egorov also revealed that Yield Basis is currently in a “production testing” stage and is undergoing testing and auditing before the full launch of the liquidity pool, although the entire system, including tokens, will take longer to launch.
AI
People familiar with the matter: Musk’s X is negotiating financing, valued at $44 billion
Elon Musk’s social media company X is in talks with investors to raise funds at a valuation of US$44 billion, the same price Musk would pay for the company in 2022, according to people familiar with the Golden Ten recruitment. The round of financing will be a major turnaround for the social media giant after Musk’s acquisitions and reforms caused many users and advertisers to flee. The above-mentioned person said that negotiations for a new round of Series X financing are still in progress and details may change. These people asked not to be named because they involved private information. The company may also abandon financing negotiations. This is the first known round of investment since Musk took the social media company private.
project dynamics
Binance Alpha launches Perry, SIREN and BNBXBT
Binance Alpha announced the launch of Perry (PERRY), SIREN (SIREN), and BNBXBT (BNBXBT). However, it should be noted that this does not mean that the token has been officially listed on the Binance platform. Specific information is as follows: Perry (PERRY): the PERREY dog discarded by CZ;SIREN (SIREN): AI analyst fully deployed on the chain;BNBXBT (BNBXBT): AI agent on the BSC chain, focusing on analyzing social data to find investment opportunities in Alpha. Previously, Binance Alpha announced the launch of Broccoli (BROCCOLI), CZ S DOG (Broccoli) and Broccoli (Broccoli).
Binance Alpha launches BROCCOLI (f2b), CZ S DOG and Broccoli (f3b)
Binance Alpha announced the launch of Broccoli (BROCCOLI), CZ S DOG (Broccoli) and Broccoli (Broccoli), but it should be noted that this does not mean that these tokens have been officially listed on the Binance platform. Specifically: Broccoli (BROCCOLI): The contract address ends in f2b. It is said that CZ named his dog “broccoli”, inspired by a name with a green element and beginning with a B. CZ S DOG (Broccoli): The contract address ends in 714, the project is community-owned and launched through the four.meme platform. Broccoli (Broccoli): The contract address ends in f3b, which is the first Broccoli project on the four.meme platform.
Arbitrum DAO has approved proposal to “allocate 35 million ARBs to RWA investments”
Arbitrum DAO announced that the community has approved the allocation of 35 million ARBs among various stable assets, with a total investment value of approximately $15.5 million. The funds came from the project’s Stable Treasury Grant Program (STEP), which previously allocated 35 million ARBs to investments in six products in June 2024. It is understood that STEP is a plan to invest 1% of Arbitrum DAO funds in tokenized RWA, aiming to diversify DAO funds while leveraging industry growth to generate revenue. The latest allocation is part of the Arbitrum DAO STEP 2.0 plan. Coupled with the 35 million ARBs from STEP 1.0 and the 15 million ARBs managed by Treasury, RWA’s total investment reaches 85 million ARBs. Arbitrum DAO said the investment is currently one of the DAO’s largest investments.
Bithumb will launch GNO in the Korean won market
According to an official announcement, South Korean crypto exchange Bithumb will launch GNO tokens in the Korean won market.
Kraken completes first fund allocation at FTX estate, paying out more than 46,000 creditors
According to Bitcoin News, Kraken has completed the first allocation of funds from FTX estate, paying out payments to more than 46,000 creditors. According to previous news, FTX will start repaying creditors from February 18, 2025, and the first phase of repayment will repay US$6.5 billion to US$7 billion.
The former CEO of Tether is developing the income-based stablecoin project Pi Protocol, which is expected to be launched in the second half of this year
According to Bloomberg, Reeve Collins, one of Tether’s original founders, is launching its own stablecoin. Collins ‘Pi Protocol will provide holders with the benefits they may get from tokenized real-world assets. This is different from earlier stablecoins such as the USDT and USDC pegged to fiat currencies, and algorithmically backed DAI, which only tracked the value of the U.S. dollar. The stablecoin agreement will be launched on the Ethereum and Solana blockchains in the second half of 2025. It is unclear how the stablecoin will generate benefits, although some existing tokens will be distributed through income generated by tokenized “real-world assets” such as U.S. Treasury bonds. It is reported that Collins served as CEO of Tether from 2013 to 2015 after co-founding Tether with Brock Pierce and Craig Sellars.
FTX’s next round of repayment allocation will begin on May 30
According to FTX creditor Sunil, the registration date for FTX’s next round of distribution is April 11, 2025, and the distribution start time is May 30, 2025. Payments for this allocation are made for claims exceeding US$50,000, and claims less than US$50,000 that have been approved but have not been received in the first allocation.
views
Vitalik: Has held a seat on the three-member Ethereum Foundation board of directors since 2017
According to Vitalik Buterin’s response, the statement that he holds three-fifths of the seats on the Ethereum Foundation (EF) board of directors is inaccurate. He clarified that since 2017, he has only held one seat on the three-member board. The response was in response to Ameen Soleimani’s discussion on social media that Vitalik’s role in the Ethereum ecosystem is closer to a “king” or a “prophet”, with most voters believing he prefers the latter.
WLFI Joint Venture: In the early stage of financing difficulties, Sun Yuchen ushered in a turning point after buying US$30 million in WLFI
According to Zak Folkman, co-founder of World Liberty Financial, Trump-backed crypto project World Liberty Financial (WLFI) saw a turning point due to Sun Yuchen’s intervention despite early funding difficulties. After Sun Yuchen purchased WLFI tokens for US$30 million, he became an official consultant on the project. Folkman said at the Consensus Hong Kong conference that the project’s goal is to integrate traditional financial institutions with decentralized finance. Folkman emphasized that WLFI does not rely on venture capital support for its success and does not provide special treatment to any token purchaser. It is worth noting that World Liberty also purchased $10 million in TRX (Sun Yuchen’s TRON blockchain native token) and WBTC.
Former Coinbase CTO: Traditional IPOs and mergers and acquisitions are blocked, securities token issuance (STO) on blockchain may become a new financing path
Balaji, former chief technology officer of Coinbase, said that as traditional IPO and M & A (M & A) paths are blocked, securities token issuance (STO) on the blockchain may become a new window for technology companies to raise funds. He pointed out that the SEC’s regulatory rules make it difficult for small company IPOs, and that the recent U.S. Federal Trade Commission’s (FTC) tough stance on large-scale mergers and acquisitions has further limited the exit paths for startups. This policy environment may weaken the flow of funds and competitiveness of entrepreneurial ecosystems. However, he believes that policy changes in the crypto field have opened the door for STO, and that the new government’s support for cryptocurrencies makes blockchain-based financing models more attractive. STO not only reduces the cost of listing small businesses, but also provides start-ups with a source of capital independent of large technology companies. Balaji emphasized that this model is in line with the government’s goal of small businesses to remain independent, while also providing global investors with the opportunity to participate without having direct control of the business.
CryptoQuant CEO: BTC will not enter a bear market this year, Strategy’s BTC cost benchmark is $65,033
CryptoQuant CEO Ki Young Ju said he believes Bitcoin will not enter a bear market this year and is still in a bull cycle. He pointed out that Bitcoin prices will eventually move higher, but the range of fluctuations may be large. He personally believes that even if prices fall 30% from historical highs such as $110,000 to $77,000, the bull market cycle is likely to continue, which is consistent with past market cycles. In addition, he mentioned Strategy (formerly MicroStrategy)’s Bitcoin cost benchmark of $65,033. Earlier today, it was announced that CryptoQuant CEO: The cost base of BTC in an ETF or escrow wallet is US$89,000.
Zhao Changpeng: Will donate all tokens received in his wallet
Binance founder Zhao Changpeng (CZ) said in a post on platform X: “When you try to make money quickly, you tend to lose money. When you donate generously, you get more in return. I donated 150BNB (about $100,000) to a college student, who himself gave up $50,000 to help Libra victims. (The student seems to be making a lot of money on BNB.) Now, this address has received more BNB donations than I have donated, and has also received more tokens. I won’t leave a penny behind. I will donate it again, probably to people who have suffered losses on TST or some Broccoli tokens. This is not support for any token. Don’t over-interpret this.”
Galaxy: LIBRA’s “running away” incident further hits investors ‘demand for SOL
Galaxy Research said in a report on Monday that the apparent LIBRA token scam is the latest incident to have a negative impact on the Solana Meme coin ecosystem, CoinDesk reported. This trend has begun to deteriorate since the launch of TRUMP tokens in January and the subsequent “liquidity dryness”. The report stated that LIBRA may cause more damage to the Meme coin system. Galaxy said this could reduce investor demand to hold Solana’s SOL tokens, noting that the rise in SOL is mainly driven by demand for SOL-denominated assets such as Meme coins; the LIBRA token scam is the “latest dirty incident” in the Solana Meme coin system, which has fallen sharply since TRUMP was launched in January and briefly rose to the peak of a fully diluted valuation (FDV) of $75 billion.
K33 Research: Bitcoin market in ‘downturn’ since U.S. election
According to The Block, Vetle Lunde, research director at K33 Research, analyzed in a report that Bitcoin is still in a low volatility range. Bitcoin fell slightly this week by 2% as risk-averse traders depressed yields, volatility and trading volume to multiple-month lows. Lunde wrote that while the Trump administration that supports cryptocurrencies is a long-term positive factor for Bitcoin and the entire crypto industry, short-term uncertainty has led to sluggish market activity. Bitcoin indicators are weakening across the market. Trading volumes, yields, options premiums and ETF inflows have all fallen to pre-election levels in the U.S. dollar. Alongside these downturns, volatility has fallen to multi-month lows. Lunde emphasized that 37% of the top 100 U.S. companies currently have a 30-day volatility higher than Bitcoin, a situation unseen since October 2023. But he also warned that such periods of low volatility rarely last for long and traders should be prepared for sudden changes. “Overall risk aversion suggests traders are ready for downward volatility, while current moderate leverage levels suggest there is less hanging risk in a liquidation wave,” Lunde said. Lunde’s analysis of Bitcoin futures on the Chicago Mercantile Exchange shows that premiums have fallen below 5% recently, which he points out rarely happens. When looking at data from 2021 to 2025, Lund found that low premiums generally coincide with weaker market performance, a situation that could be affected by a prolonged bear market in 2022. Lunde emphasized that Bitcoin often performs best under strong basis regimes and called for caution amid current market uncertainty.
important data
A giant whale was again liquidated for 7511 cWBTC, or approximately US$14.43 million
According to Lookonchain monitoring, during the recent market decline, a giant whale was cleared again for 7511 cWBTC (approximately US$14.43 million). Previously, during the 2022 plunge, the giant whale was liquidated three times, totaling 74426 cWBTC (US$32.82 million).
Abraxas Capital Mgmt related address has charged 24810 ETH to the exchange in the past 24 hours
According to monitoring by online analyst@ai_9684xtpa, the associated address of Abraxas Capital Mgmt is 0xEd0… a4312 has charged a total of 24810 ETH pieces to the exchange in the past 24 hours, with a total value of US$66.04 million, and an average recharge price of US$2661. The address currently holds a total of 110,224 ETH units in agreements such as Lido, ether.fi, Aave, Compound, etc., with a total value of US$295 million.
The ETH/BTC exchange rate has dropped to 0.028, and there are still giant whales who are still bearish on the ETH/BTC exchange rate
According to Chain analyst Ember Monitoring, although the ETH/BTC exchange rate has dropped to 0.028, there are still giant whales that are bearish on the ETH/BTC exchange rate: a giant whale has withdrawn a total of 1,444 cbBTC(approximately US$138 million) from Coinbase in the past two weeks, and then deposited Aave as collateral to borrow 29,025 ETH(approximately US$77.6 million) and transferred it to Coinbase.
Bubblemaps: A trader turned $1.09 million into $109 million by trading Meme coins TRUMP
According to The Block, blockchain analysis platform Bubblemaps claimed in a social media post on Tuesday that according to its analysis, anonymous cryptocurrency trader Naseem was an account that made a profit of US$109 million from trading Meme coins TRUMP. According to research conducted with YouTube blogger Coffeezilla, Naseem successfully “sniped” the TRUMP token shortly after its launch. On-chain data showed that $1.09 million worth of tokens were first purchased using an address beginning with 6QSc2, and then the tokens were spread across at least nine wallets. Although the study could not conclusively prove that Naseem was ultimately behind these trading activities, the Bubblemaps team wrote in the report that circumstantial evidence suggests that “there are too many connections that cannot be ignored.” Bubblemaps allowed Naseem to respond to potential insider trading issues, which Naseem denied. Although he was able to purchase more than $1 million worth of TRUMP tokens in the first second of the transaction, in part because of paying a $84,000 priority transaction fee, Naseem said he was not directly told when the tokens would be issued.
