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- Milei’s Promises to Davis 👀
Milei’s Promises to Davis 👀
Plus, 🤯 Would the real Satoshi please stand up?, 🤡 CZ’s memecoin flood, and more!
Hi! In today’s edition:
🇦🇷 Milei and LIBRA: Calling in favors?
🤔 Jack “Satoshi” Dorsey, huh?
😂 CZ: Drowning in memecoins
🎤 LIBRA scandal: The inside story
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By Tikta
Hayden Davis, the CEO of LIBRA’s main market maker, Kelsier Ventures, and Argentinian President Javier Milei have reportedly held secret conversations over the past two days to come up with a strategy to contain the scandal surrounding the token, which soared after being promoted by Milei then crashed, leaving many investors nursing losses and fueling talk of insider trading.
People reportedly privy to the conversations both inside and outside Argentina told national newspaper La Nacion that Davis had been given assurances by the Casa Rosada, Milei’s official office, that in an upcoming television interview, the president would not accuse him of having committed illicit acts.
Davis also claimed to have significant influence over Milei through financial contributions to his sister, Karina Milei.
A screenshot of leaked messages published by CoinDesk purports to show that Davis, seeking capital for the launch of a memecoin linked to Milei, told an executive at an unnamed crypto investment firm that he could “have Milei tweet, do in-person meetings, and do a promotion.”
“I control that n***a. I send $$ to his sister and he signs what I say and does what I want. Craziest shit,” Davis reportedly wrote, using an expletive, in texts dated Dec. 11.
CoinDesk reported that Davis did not initially respond to a request for comment on the matter, but that he reached out after the article was published to deny he had a record on his phone of sending such a message as well as that he had paid Milei or his sister to launch LIBRA.
Davis’s firm, Kelsier, has been accused by DeFi Tuna founder Moty Povolotski of involvement in a structured scheme to extract funds on M3M3, a memecoin staking platform operated by liquidity protocol Meteora.
Meteora co-founder Ben Chow has also been named by Povolotski for allegedly facilitating a network of influencers who profited significantly by extracting value from retail investors. The schemes reportedly date back to several previous memecoin launches, including those of MELANIA, MATES and ENRON.
By Povolotski’s estimate, more than $200 million was siphoned off by insiders who had prior knowledge of token mint addresses ahead of the launches, allowing them to pre-buy them and profit.
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VanEck’s head of digital assets, Matthew Sigel, says he has come to believe a theory published Sunday by deBanked CEO Sean Murray that Block CEO and Twitter co-founder Jack Dorsey is Bitcoin’s pseudonymous creator, Satoshi Nakamoto.
Sigel cited Dorsey’s early involvement with Bitcoin, technical expertise with cryptography, and a few uncanny coincidences as some of the reasons why he is convinced of Dorsey’s shadowy identity as the most mysterious, inaccessible, legendary figure in crypto.
Sigel, who emphasized that he was sharing his personal opinion and not that of the investment management firm he works for, laid out his theory on X. He said his thinking had been informed by Murray’s research, alongside input from British cryptographer Adam Back and even Australian computer scientist and businessman Craig Wright, who has publicly claimed to be the mainstay of the team that created bitcoin and the identity behind the Satoshi pseudonym.
One of the pieces of what Sigel describes as evidence linking Dorsey and Satoshi is the latter’s use of “brute force” to create Bitcoin addresses, including one beginning with “jD2m”. Murray suggests that stands for “Jack Dorsey 2 Mint” — a reference to Dorsey’s former residence at 2 Mint Plaza in San Francisco.
A number of Bitcoin proponents are not convinced, with some arguing that pointing the finger at someone only puts a target on their back. Others’ counter-arguments have been more light-hearted.
“You think the real satoshi [sic] would wear a satoshi shirt to the Super Bowl??” one X user wrote.
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Former Binance CEO Changpeng “CZ” Zhao is facing the unintended consequences of exposing his wallet address to the public — an influx of memecoins worth hundreds of thousands of dollars.
Zhao donated 150 BNB tokens to a student raising funds to compensate those who had lost funds trading LIBRA. But when he shared details of that transaction on X, he also made one of his wallet addresses public.
Crypto users began sending Zhao large volumes of memecoins over the following 24 hours. His wallet held $828,000 worth of memecoins at press time, far more than the $97,800-equivalent he donated to the student.
The biggest holding is the “Broccoli” token, a coin based on Zhao’s pet dog, which he himself encouraged users to create last week.
“Funny things in crypto,” Zhao said on X. “When you try to make quick money, you often lose. When you give money away, you get more back.
“I won't be keeping a penny of it,” he said. “Will donated [sic] it away, most likely to people who had a loss on TST or some of the Broccolis.”
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How the Libra Scandal Exposed Memecoin Insider Trading on the World Stage
Was Argentina’s president used to pump a memecoin? The launch of $LIBRA has turned into a political and financial scandal, with accusations of insider trading, bribes, price manipulation, and government ties to crypto influencers.
In this Unchained episode, Diogenes Casares, a crypto trader with deep connections in both memecoins and Argentina’s crypto market, exposes what really happened behind the scenes. He explains how a network of market makers, influencers, and political insiders orchestrated the launch, how the token’s price was manipulated from the start, and why he believes the entire operation was illegal.
Casares also outlines the potential legal consequences for those involved, the impact on President Javier Milei’s administration, and what it all means for the future of Solana memecoins.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
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📤 FTX has begun distributing $1.2 billion in repayments to creditors with claims under $50,000, with payouts processed in U.S. dollars via Kraken and BitGo, including 9% interest accrued since November 2022.
📈 Hours after warning of a $1.79 billion bitcoin-related impairment loss, Strategy — formerly MicroStrategy — on Tuesday announced a $2 billion convertible note offering at an interest rate of 0%, planning to use the funds for more bitcoin acquisitions.
💵 Former Tether CEO Reeve Collins is launching a a yield-generating stablecoin named Pi Protocol on Ethereum and Solana, aiming to differentiate it from USDT by offering returns likely derived from tokenized real-world assets.
🚀 Echo founder Cobie, A.K.A Jordan Fish, hinted that the private funding platform is working on an ICO product aimed at providing a better alternative to existing launch sales, potentially changing how community investors access new crypto projects.
🛠️ A security flaw in the Abstract Chain’s Cardex game enabled hackers to drain users’ assets, with some victims losing more than $100,000 of Ethereum, although its developers insist the breach was unrelated to their newly launched Abstract Global Wallets.
⚠️ Ethereum’s Geth developers have urged validators to update from version 1.15.1 to 1.15.2 immediately, warning that a regression in the older version could cause block creation failures and result in financial losses due to missed rewards.
🎭 A fraudster allegedly used AI deepfake technology to steal more than $5.6 million by impersonating FTX claimants on video calls, duping trading firms into purchasing fake bankruptcy claims, according to an investigation by data analytics firm Inca Digital.
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🌏 Brokerage firm Robinhood is set to introduce crypto products in Singapore later this year, leveraging Bitstamp’s regulatory licenses, once it finalizes its $200 million acquisition of the crypto exchange.
🏛️ Utah’s proposed Bitcoin reserve bill, which could allow the state treasurer to invest up to 5% of public funds in qualifying digital assets, on Tuesday advanced to the Senate Revenue and Taxation Committee after passing the House in an 8-1 vote.
🔐 Onchain security firm Blockaid secured $50 million in a series-B round led by Ribbit Capital to expand its machine learning-based threat detection, which has already blocked more than 71 million attacks on platforms such as Coinbase and MetaMask.
📊 Curve Finance founder Michael Egorov raised $5 million at a $50 million token valuation for Yield Basis, a new DeFi project that aims to eliminate impermanent loss by leveraging Curve’s technology and modifying automated market makers to make liquidity provision more profitable.
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Why are so many shocked by devs not playing by the rules?
Let me just remind you of this:
— DeFi Warhol (@Defi_Warhol)
10:50 AM • Feb 17, 2025
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