today’s edition of the weekly recap spotlights recent comments from Bitcoin investor Michael Saylor, in addition to the latest venture capital activity in the crypto sector.Strategy expands Bitcoin holdings The company formerly known as MicroStrategy acquired 7,633 BTC for $742.4 million at an average price of $97,255 per Bitcoin (BTC) during the week ending February 9. The acquisition brings Strategy’s total holdings to 478,740 BTC. On Saturday,Feb. 15, Strategy founder Michael Saylor told his over $4 million followers: “When you buy Bitcoin, you strengthen the network. When you sell bitcoin, you weaken it.” Singapore-based entrepreneur Julian Hosp clapped back: “this is literally the textbook definition of a Ponzi scheme. Reminds me of that scene in The Big Short: ‘why are they confessing?’ ‘They’re not confessing… they’re bragging.’” At last check Sunday, Bitcoin was down 0.8%. Source: CoinGecko Milei faces backlash over LIBRA token crash President Javier Milei’s endorsement of $LIBRA, a meme coin aimed at supporting Argentine small businesses, helped drive the project to $4.4 billion market capitalization before a 95% collapse. eight wallets connected to the LIBRA team withdrew $107 million shortly after the peak, according to Lookonchain analysis. Milei afterward deleted his endorsement and denied any connection to the project, condemning “filthy rats of the political caste” attempting to exploit the situation. Crypto VC funding shows strength in February HashKey Group secured $30 million at a $1.50 billion valuation, leading a week that saw total funding exceed $150 million. Payment solutions and infrastructure projects dominated the investment sector during the second week of February. NFT market records volume decline NFT sales volume dropped 35.15% to $112.7 million, according to CryptoSlam data, with notable changes across leading collections. Major collections, including Pudgy Penguins and Azuki, experienced sales drops of 55.29% and 79.17%,respectively. Pump.fun launches mobile app amid legal challenges The meme coin generator expanded its platform accessibility by releasing iOS and Android applications, offering features similar to its web interface, including free Solana-based token creation and trading capabilities. The mobile launch comes shortly after the platform faced a proposed class-action lawsuit over alleged U.S. securities law violations. Tether invests in Juventus soccer club Tether Investments acquired a minority stake in Italian Serie A team Juventus, though financial details remain undisclosed.The investment aims to create new connections between sports and digital assets. Ethereum developers debate network upgrade approach Ethereum (ETH) core developers face critical disagreements over the implementation of EVM Object Format (EOF). The proposed EOF system would perform safety checks on EVM bytecode before execution rather than during.Abu Dhabi fund makes major Bitcoin ETF investment Abu Dhabi’s sovereign wealth fund Mubadala Investment Company invested $436.9 million in BlackRock’s spot Bitcoin (BTC) ETF during Q4 2023. It coincides with BlackRock securing an Abu Dhabi commercial license. The investment supports BlackRock’s position as the largest spot Bitcoin ETF manager, with nearly $56 billion in assets under management. Bybit resolves regulatory concerns CEO Ben Zhou announced Bybit’s removal from France’s regulatory blacklist after more than two years of remediation efforts with the country’s financial regulator. Meme coin trader profits from Broccoli token surge A strategic trader earned over $10 million by quickly purchasing and selling newly launched Broccoli-themed tokens on Four.Meme, capitalizing on enthusiasm following Binance founder CZ’s reveal of his pet dog. The trader used a “sniping” strategy to acquire approximately 50% of each Broccoli token’s supply at launch.Pig butchering crypto scams show growth Chain

Unveiling the Crypto Landscape: Trends and Regulatory Updates

Illicit crypto Activities on the Rise

Recent analysis reveals a staggering 40% year-over-year surge in illicit revenue from romance-based scams in 2024, with crypto deposits into these fraudulent schemes soaring by 210%. these scams, predominantly originating from southeast Asian hubs, have expanded their reach globally. they exploit trust built through romantic connections to ensnare victims into dubious investment opportunities.

Grayscale XRP Trust proposal under SEC Scrutiny

The Securities and exchange Commission (SEC) has disclosed the details of NYSE Arca’s proposal to list shares of the Grayscale XRP Trust. This marks the beginning of a review process that could last up to 240 days,following an initial 45-day period. This growth underscores the ongoing efforts to integrate XRP into regulated financial markets.

Binance and SEC Agree to Legal Truce

Judge Amy Berman Jackson has sanctioned a 60-day hiatus in the legal battle between Binance and the SEC. Both parties are required to submit a joint status report by April 14. This pause is in response to the SEC’s newly established crypto task force, which aims to craft clearer regulatory guidelines for the industry.

Coinbase’s Remarkable Q4 Financials

The premier U.S. crypto exchange, Coinbase, has reported a robust fourth-quarter revenue of $2.27 billion, surpassing the projected $1.84 billion and marking a 138% year-over-year growth. The trading volume surged to $439 billion, a 185% increase from the previous year, with transaction revenue reaching $1.56 billion, up 194% year-over-year.

Doodles Set to Launch Solana-Based Token

The renowned NFT brand, Doodles, has unveiled plans for DOOD, a Solana (SOL)-based token with a total supply of 10 billion. This follows the accomplished launch of Pudgy Penguins’ Pengu (PENGU) token. The token distribution will allocate 30% to the Doodles community, 25% for ecosystem funding, and the remainder for various initiatives, liquidity, and company reserves.

OpenSea Introduces SEA Token and OS2 Marketplace

OpenSea, the leading NFT marketplace, has announced the launch of its SEA token via the OpenSea Foundation. Alongside this, the platform has introduced the OS2 open beta marketplace, which will support memecoins and other tokens. The SEA token is designed to reward active users and early adopters of the platform.

Metaplanet’s Bitcoin Accumulation Strategy

Tokyo-based Metaplanet has confirmed receiving funds from the EVO FUND bondholder,with plans to boost its Bitcoin reserves to 21,000 BTC by 2026. This initiative, part of ‘Asia’s Largest Ever’ fundraising, aims to redirect raised funds towards Bitcoin acquisition, reflecting the company’s strategic financial adjustments.

Worldcoin Faces Continued Brazilian Ban

Following the rejection of its appeal, Brazil’s National Data Protection Authority (ANPD) has upheld its ban on Worldcoin. The decision is based on concerns regarding biometric data consent and the potential influence on consumer behavior, highlighting the regulatory challenges faced by innovative projects.

Trump Nominates New CFTC Chair

According to Bloomberg, President Donald Trump intends to appoint Brian Quintenz, the head of global policy at a16z crypto, as the new chair of the Commodity Futures Trading Commission (CFTC). This nomination, as detailed in White House documents, signals a potential shift in the regulatory approach towards the crypto sector.

Goldman Sachs Expands Bitcoin ETF Holdings

The investment giant, Goldman Sachs, has considerably increased its position in the spot Bitcoin ETF during Q4 2024. The latest 13F filing indicates ownership of $1.27 billion (24.07 million shares) in BlackRock’s iShares Bitcoin Trust ETF, representing an 88% increase from the previous quarter.

BitGo Prepares for IPO

The U.S.-based crypto custodian, bitgo, is gearing up for an initial public offering by the second quarter of 2025. The company was valued at $1.75 billion during an $100 million Series C funding round in August 2023,reflecting investor confidence in its growth prospects.

Uniswap Unveils Unichain Layer-2 Network

Uniswap, a prominent Ethereum decentralized exchange, has launched Unichain, a new layer-2 blockchain that has already processed over 88 million test transactions. Marketed as “the fastest chain in the industry,” Unichain aims to enhance transaction speeds for traders and developers.

WazirX Announces Hack Recovery Plan

the crypto exchange WazirX has finalized its asset rebalancing plan, aiming to return 85% of users’ portfolio values as recorded on July 18. Initial distributions are scheduled for April, allowing users to view their lost assets in both USD and Indian rupees following the $230 million hack in July 2024.

bitcoin Hard Drive Searcher Explores Recovery Methods

James Howells, who reportedly lost 8 BTC, is exploring innovative approaches to recover his lost hard drive. His efforts highlight the ongoing challenges and creative solutions in the realm of cryptocurrency recovery.

Unearthing Crypto wealth: A New Chapter in Recovery Efforts

In a surprising turn of events, discussions are underway for a potential land acquisition in Newport, South Wales, aimed at recovering an estimated 000 Bitcoins valued at approximately $784 million. This buried treasure, lost in a landfill as 2013, has sparked renewed interest among investors. However, previous endeavors to secure approval from the Newport Council for retrieval have faced challenges.

Revisiting the Newport Council’s stance

despite the significant value of the lost bitcoins, obtaining the necessary permissions from the Newport Council has proven to be a complex process. The council’s reluctance to grant retrieval rights has hindered past recovery attempts. As the crypto community watches closely, the latest discussions with investors could potentially pave the way for a successful excavation.According to recent data, the value of such recoveries could have a significant impact on the global crypto market.

Industry Leaders’ Strategic Focus

Amidst these developments, Changpeng Zhao, the former CEO of Binance, has shared his investment philosophy. In a public statement, Zhao clarified that he has steered clear of meme coins and NFTs, emphasizing his commitment to the “fundamentals” of the crypto space. His portfolio is reportedly limited to Bitcoin and Binance Coin (BNB), reflecting a strategic approach to cryptocurrency investments.

Insights from Crypto Experts

Financial analysts have noted that Zhao’s stance aligns with a growing trend among seasoned investors who prioritize stable and established cryptocurrencies. This focus on fundamentals is seen as a prudent strategy in the volatile crypto market. As of the latest reports, Bitcoin continues to dominate the market, with its value showing resilience despite market fluctuations.

Exploring Alternatives to Meme Coins and NFTs

While some investors are drawn to the speculative nature of meme coins and NFTs,Zhao’s preference for Bitcoin and BNB underscores the importance of diversification and risk management. Instead of chasing trends,he advocates for a more grounded approach,which could serve as a valuable lesson for newcomers in the crypto space. By focusing on proven assets, investors can potentially mitigate risks and achieve long-term growth.

As the crypto landscape continues to evolve, the recovery efforts in Newport and the strategic insights from industry leaders like Zhao provide a compelling narrative.Whether it’s unearthing lost treasures or navigating the complexities of the market, the crypto community remains at the forefront of innovation and discovery.