Mile clarifies LIBRA incident Musk's DOGE will audit SEC

Headlines

▌Argentine President Mile clarified: There was no promotion but just sharing LIBRA information

Argentine President Mile said on a TV show, "I acted in goodwill and got hit. Did the country lose money? No. Did the Argentines lose money? At most four or five. The vast majority of investors are Chinese and the United States." people.

I share this information like hundreds of things I've shared. My tweet was sent three minutes after the currency was created because I was passionate about these things and got to know it. These people are volatile traders who know what they are doing.

It is false to say that 44,000 people were affected, with a maximum of only 5,000. The possibility of involvement of Argentines is very small. These are people who are very professional in this kind of financial instrument. Those involved are very aware of the risks they take—they are volatile traders. This is a private matter between individuals and they participate voluntarily.

I did not promote LIBRA, I just shared LIBRA information. I do this because I am a firm tech optimist. Any initiative that improves financing for tech entrepreneurs appeals to me. I made no mistakes because I acted in goodwill. But when I saw the consequences, I realized that I still have a lot to learn. I need to understand that after becoming president, I still act like I used to be. Unfortunately, this situation made me realize that I needed to raise my screening standards and was no longer so easy to access. ”

▌Musk ' s DOGE will audit the US SEC to investigate its potential fraud, abuse and waste

According to an official announcement, Elon Musk's government efficiency department DOGE will conduct an audit of the U.S. Securities and Exchange Commission (SEC) to investigate its potential waste, fraud and abuse.

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Quotes

As of press time, according to Coingecko data:

BTC's recent transaction price is US$95,970.42, with an increase of -0.3% intraday;

ETH's latest transaction price is US$2,750.07, with an intraday increase of +3.2% ;

BNB's recent transaction price is US$667.69, with an intraday increase and decline of -0.9% ;

SOL's recent transaction price is US$177.69, with an intraday increase and decrease of -5.8 % ;

DOGE's recent transaction price is US$0.2587, with an intraday increase and decrease of -2.6% ;

XPR's recent transaction price is US$2.66, with an intraday increase and decrease of -2.7 % .

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policy

▌Argentine lawyer filed criminal complaints with the FBI and the U.S. Department of Justice for LIBRA incident

An Argentine law firm filed a criminal complaint with the U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) on February 17, accusing the LIBRA token crash and demanding an investigation into the role of Argentine President Mile.

On another legal front, Civic Coalition ARI also filed a criminal complaint on February 17, demanding that the Justice Department investigate Mile's alleged allegations of bribery and fraud.

LIBRA tokens rose sharply on February 14 as President Mile posted a post about the project on X platform (formerly Twitter). The post has now been deleted, with the content highlighting that the project will be used to fund "small businesses and startups in Argentina" and includes a contract address, causing the token's market value to soar to $4.56 billion at one point, but then in a few hours The company quickly fell to $257 million. These new legal challenges are based on previous criminal charges in Argentina, accusing Mile of participating in fraud by supporting the token.

▌US Stock Exchange MEMX applies to SEC to approve its listing of 21Shares XRP ETF

US Stock Exchange MEMX has applied to the Securities and Exchange Commission (SEC) to request approval to list the 21Shares XRP ETF as a "commodity trust", and the relevant documents have been submitted to the regulatory authorities. The move marks another effort by the U.S. exchange to list ETFs containing spot XRP. This application also highlights the SEC's shift in its cryptocurrency stance.

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Blockchain application

▌ Linea completes the witch’s appeal review and removes 3,500 misjudgment addresses

Linea officially announced that it has completed the review of the Sybil Attack complaint against the ecosystem and updated the list of witches. A total of 3,500 misjudgment addresses were confirmed and removed from the list. Users can check the account status through the official link.

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Cryptocurrency

▌ Barstool Sports founder mistakenly bought LIBRA Meme coin with the same name caused it to soar by 3,000%

Barstool Sports founder Dave Portnoy appears to have mistakenly invested nearly $170,000 to buy a random LIBRA token — not a controversial token associated with Argentina’s President Mile.

Portnoy purchased nearly $170,000 in poorly liquid LIBRA tokens, causing its price to soar by more than 3,000%. The LIBRA token he purchased is a different contract address with the tokens related to Mile in recent days.

If Portnoy sells the random LIBRA tokens he holds at the current price, he will lose more than half of his investment. The approximately $170,000 LIBRA token invested by Portnoy is now worth only about $62,000.

▌Analysts : Ethereum’s key support level is $2425

On-chain analyst Ali said on the X platform that the latest on-chain data shows that the most critical support level for Ethereum (ETH) is at $2,425. In this price range, about 62.43 million ETH accumulated from 10.33 million wallet addresses, indicating that this price is an important holding cost area for a large number of investors.

▌Analysis : As the backlog of pardon applications continues to increase, SBF 's chances of obtaining conviction forgiveness remain slim

With the arrival of U.S. President Donald Trump, more and more white-collar criminals, including former FTX CEO SBF, are exploring ways to get forgiveness. However, William Livolsi, executive director of the White Collar Support Group, a national support group that advocates a more fair post-penal policy, said the chances of obtaining conviction forgiveness remain slim as the backlog of pardon applications continues to increase.

Compared to Ross Ulbricht, founder of the Dark Web Silk Road, Livolsi said: "The comparison between Ulbricht and SBF is not entirely direct. Of course, both are well-known figures in the crypto field, but their personal cases and Their verdicts were widely different. In addition, Ulbricht's forgiveness was openly linked to President Trump's campaign commitments to his political supporters."

The Office of the Parliament Lawyer has established a formal application process for the Parliament request, which begins with the application for pardon and finally the formal advice of the Parliament Lawyer. Then, it is up to the president to make a decision on each case. However, after the application is submitted, what seemed simple process becomes extremely opaque. According to Livolsi, the backlog of applications for pardon lawyers’ offices is about 10,000; the role of pardon lawyers’ offices has long been “seriously ignored”, and instead, presidents have granted pardons based on political relations, media pressure or personal interests. .

▌Trump family project WLFI withdraws 10 million USDC from Binance and purchases 200 million WLFIs

According to Onchain Lens monitoring, six hours ago, the newly created multi- signature wallet of the Trump family project World Liberty Finance (WLFI) had withdrawn 10 million USDC from Binance and purchased 200 million WLFIs.

▌ Polymarket predicts Argentine President Mile 's probability of resigning this year rises to 20%.

Forecast Market Polymarket data shows that the probability of Argentine President Javier Milei's resignation in 2025 rises to 20%.

Previous news, Argentine President Mile was charged with fraud for his association with the $LIBRA token project. The project was once promoted by it, but the token value plummeted 95% from its highs.

▌ Redstone Chief Operating Officer: Libra and other meme coins are extremely harmful to the entire crypto industry

"Meme coins such as Libra are a huge harm to the entire cryptocurrency industry. Hundreds of teams invest resources to build unique projects with real applications, but Their work is overshadowed by these short-term, scam- driven games. Research shows that every dollar spent on gambling is a dollar taken from long-term investments.”

He also said: "I think the market is getting more and more tired of these events - ironically, it may be a good thing, and as people get tired of the constant Rug, we may see more attention turning to DeFi , Crypto x AI and SocialFi have good fundamental developments. I actually see memecoin as a stress test of the infrastructure we are building.”

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Important economic trends

▌Federal Director Waller: Inflation falls and interest rate cuts are expected this year

Fed governor Waller said inflation is expected to continue to decline and rate cuts this year. The recent consumer price index has been disappointing, but this may be caused by seasonal adjustment issues. The impact of tariffs on prices is expected to be moderate and non-lasting, and the Fed should try to ignore this impact when formulating policies.

▌The probability of the Federal Reserve keeping interest rates unchanged in March is 97.5%

According to CME's "Federal Observation", the probability of the Fed keeping interest rates unchanged in March is 97.5%, and the probability of cutting interest rates by 25 basis points is 2.5%. The probability of maintaining the current interest rate unchanged by May is 79.2%, the probability of a cumulative interest rate cut of 25 basis points is 20.3%, and the probability of a cumulative interest rate cut of 50 basis points is 0.5%.

Bank of America : ECB interest rates are expected to drop to 1.5% by September

A survey of U.S. Bank Credit Investors showed that investment-grade credit investors expect the ECB to cut interest rates slightly lower than that of high-yield credit investors. The survey shows that up to 41% of investment- grade credit investors expect the final value of the ECB deposit rate to be 2%, and 37% of high-yield credit investors expect the final value to be 1.75%. Bank of America analysts expect deposit rates to fall to a low of 1.5% by September. The ECB deposit rate is currently 2.75%.

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Golden Encyclopedia

▌What is fractal Bitcoin

Fractal Bitcoin is an innovative blockchain expansion solution based on recursive virtualization technology that enhances Bitcoin’s scalability by creating multi-layer network structures while maintaining a secure connection to the main network. The creative background of fractal Bitcoin originated from the emergence of the Ordinals protocol and related applications in 2023. For security reasons, Bitcoin imposed restrictions on opcode and block storage space in its iteration. When the Bitcoin chain ecosystem was developing rapidly, there were limitations in on-chain computing power and block space, so the developers proposed that The concept of fractal Bitcoin is expected to solve the shortcomings of the Bitcoin network.

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