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🌙 Solana Crashes as Argentina President Milei’s Libra Rugpull Hits Credibility

Solana is taking a hit in the reputation and in the wallet in the fallout of the Libra memecoin launch, which has been widely criticized as a rug pull.

Author

Mike Gavela
February 19, 2025

Crypto Roundup - February 18

Recent developments in the cryptocurrency sector have highlighted significant events impacting blockchain stability, regulatory concerns, and community engagement. Solana's network faced instability as Argentina's President Javier Milei was accused of a misleading promotion involving the Libra cryptocurrency, causing a notable hit to its credibility. Meanwhile, a report by Chainalysis revealed that sanctioned nations like Iran are increasingly using cryptocurrencies to circumvent global regulations, posing challenges for international oversight. In the NFT space, OpenSea has announced changes to its points program following significant community backlash, reflecting the platform's responsiveness to user feedback and the evolving dynamics of Web3 engagement.

Top Stories

  • Solana faces instability: Argentina's President allegedly involved in a cryptocurrency scheme affecting Solana's network reliability.

  • Crypto and sanctions: Nations like Iran use digital currencies to bypass international sanctions, raising regulatory and ethical concerns.

  • OpenSea adjusts program: After community backlash, OpenSea revises its points system to better align with user expectations in the NFT market.

TOP STORIES

Solana Crashes as Argentina President Milei’s Libra Rugpull Hits Credibility - "The Defiant"

Solana is taking a hit in the reputation and in the wallet in the fallout of the Libra memecoin launch, which has been widely criticized as a rug pull.

thedefiant.io/news/blockchains/solana-crashes-as-argentina-president-milei-s-libra-rugpull-hits-credibility

Iran and Other Sanctioned Nations Are Using Crypto to Skirt Global Regulations: Chainalysis - "The Defiant"

U.S.-sanctioned countries accounted for nearly 39% of illicit crypto transactions in 2024, according to Chainalysis.

thedefiant.io/news/regulation/iran-and-other-sanctioned-nations-are-using-crypto-to-skirt-global-regulations-chainalysis

OpenSea to Modify Points Program Amid Community Backlash - "The Defiant"

The legacy NFT platform just launched its OS2 product to the public, but has already rescinded part of its points distribution mechanism.

thedefiant.io/news/nfts-and-web3/opensea-to-modify-points-program-amid-community-backlash

FUNDRAISING

OTHER HEADLINES

Bitcoin Lightning bug allows remote theft of bitcoin via LND nodes

A bug in relatively recent versions of Bitcoin Lightning node software LND could allow hackers to remotely drain bitcoin from victims.

protos.com/bitcoin-lightning-bug-allows-remote-theft-of-bitcoin-via-lnd-nodes

Coinbase to list Bittensor's TAO token tomorrow

Coinbase lists Bittensor's TAO on Feb 20, 2025, pending liquidity. TAO trading phases to begin PA-USD pairing with restrictions.

cryptobriefing.com/coinbase-lists-bittensor-tao

Binance.US restores USD access, aims for market resurgence amid SEC's legal troubles

Crypto exchange Binance.US resumes USD transactions, signaling a revival strategy post-regulatory challenges.

cryptoslate.com/binance-us-restores-usd-access-aims-for-market-resurgence-amid-secs-legal-troubles

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