By Kapil Rajyaguru
Argentinian Lawyers sue President Javier over Libra Token Scam.
A group of lawyers in Argentina have sued President Javier Milei over fraud charges related to him promoting a cryptocurrency, $LIBRA, on the social media platform X (formerly Twitter) and later denying any involvement after the token resulted in a classic rug pull scam of $107 million.
The lawyers have claimed in their petition that the Argentinian president was not directly involved in the Libra crypto token, but he facilitated a criminal activity by promoting it. On Friday last weekend, Javier Milei had promoted the Libra token on his official X account, claiming it was aimed at “encouraging economic growth by funding small businesses and startups.”
The X post by President Javier was later deleted after the crypto token resulted in a rug pull scam as the project developers brought down the liquidity by $107 million. The Libra token project snowballed into a major political controversy in Argentina, with the opposition leaders demanding impeachment of President Javier.
Grok Token Soars 54% as Elon Musk Confirms Grok 3 Launch.
Grok (GROK) tokens increased by 54% on Sunday when Elon Musk confirmed that Grok 3 from his AI startup, xAI, would launch on Monday. The current market value of GROK tokens stands at $0.005305, and its total market capitalization reaches $33.6 million.
Grok 3 will launch at 8:00 PM Pacific time during a direct competition with OpenAI’s ChatGPT and Google’s Gemini AI systems. Musk described Grok 3 as the “smartest AI on Earth” through his X (formerly Twitter) social media post. The product needs to overcome substantial competition from existing market leaders.
Fed Could Sell Gold, Issue Debt to Fund Bitcoin Reserve: Bernstein.
The U.S. crypto task force will focus on starting up a national bitcoin (BTC) reserve, a move that is likely to spur similar efforts worldwide, broker Bernstein said in a research report Monday.
The formation of a strategic reserve poses a number of structural questions, the report said. Will the U.S. Federal Reserve or the Treasury buy bitcoin? If it were the Fed, that would require legislative approval, the report noted. How would the Fed fund cryptocurrency purchases?
Bernstein said it could issue debt or sell some of its gold reserves. The U.S. government could add the $20 billion in bitcoin it has seized from criminal enterprises to any national reserve, the report added.
Hong Kong Crypto Unicorn Hashkey Secures $30mn Investment, Now Valued At $1.5bn.
Gaorong Ventures has invested US$30 million in HashKey Group, a Hong Kong-based cryptocurrency firm. This investment values HashKey at nearly US$1.5 billion after the funding, according to a company spokesperson.
HashKey operates one of Hong Kong’s first licensed crypto exchanges and offers services like crypto trading, venture funding, and asset management. Since its founding in 2018, it has expanded to Singapore, Japan, and Bermuda.
The investment reflects growing interest from Chinese investors in crypto, despite the 2021 mainland Chinese ban.
In 2024, global funding for crypto startups reached US$10 billion, slightly down from US$10.3 billion in 2023, according to PitchBook.
MEXC Launches Zero-Fee Trading Zone to Maximize Profits for Traders.
MEXC, a leading global cryptocurrency exchange, is excited to announce the launch of its Zero-Fee Trading Zone, offering traders the chance to enjoy 0% Maker and Taker fees on hot trading pairs for a limited time.
This initiative allows traders to take full advantage of market opportunities without incurring the usual fees, optimizing their potential profits. By creating this dedicated Zero-Fee Trading Zone, MEXC eliminates the hassle of searching for specific zero-fee pairs, allowing traders to focus on capitalizing on market movements without worrying about trading costs.
Coinbase Partners With Aston Martin’s Formula One Team, Taking On F1 Partner Crypto.com.
On February 12, Aston Martin Aramco’s AMR25 racing car took its first breaths, and while the car’s full look will be revealed on the 18th, we know now what logo will grace its rear wing: Coinbase.
Aston Martin’s Formula One team has signed Coinbase as its Official Crypto Partner for an undisclosed sum paid entirely in USDC stablecoins. Aston Martin’s upcoming AMR25 racing car, which will be revealed in the coming weeks, will sport Coinbase’s logo on its halo and rear-wing end plate. Drivers Fernando Alonso and Lance Stroll will also bear the logo on their racing suits.
With the partnership, Coinbase takes on rival exchange and longtime Formula One partner Crypto.com, which has been working with the racing organization since 2021 and recently extended its partnership deal into 2030, becoming one of the organization’s longest-term partners.
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