Top Headlines: Fraud Charges Against Argentine President, Binance on Sale, JP Morgan Buys $MSTR

Summary

• Some Argentine lawyers filed a lawsuit against the country’s president over his involvement in crypto meme token scam.
• Melania token 3% unlock date coming on 19/20 Feb.
• The X (formerly Twitter) account of ai16z founder Shaw was hacked.
• Rumours around Binance crypto exchange sale.
• Bitcoin dominance hits 60%, a record all-time high over the last 4 years.
• JP Morgan acquires $100 million worth of $MSTR shares.

Fraud Charge Against Argentine President

Lawyers in Argentina reportedly filed a lawsuit against Argentine president Javier Milei over his involvement in the $Libra token, a meme crypto token on the Solana network, which badly crashed when the liquidity was rugged by the project team. However, the project team & Argentine president distanced each other from direct involvement, but the crypto investors are not ready to admit such claims.

Melania Token 3% Supply Unlock

As per the plan, on 19 or 20 Feb, 3% new Melania tokens will be injected into the market, nearly 30 million MELANIA, worth about 39 million US dollars. Following this news, the panic among the $Melania token Investors can be seen easily. The current trade price of the $Melania token is $1.27 & this price level is 3% down over the last 24 hours trading period.

The current trade price of $Melania token. Source: CoinMarketCap (CMC)

Ai16z Founder Shaw’s X Account Hacked

Reportedly an unknown hacker hacked ai16z founder Shaw’s X account. A hacker has posted a fake Eliza scam link. Many Crypto X users suddenly noticed this suspicious activity & warned people to stay away from any unauthorised link. Today, Shaw also talked on this matter via his X account and claimed that his X account hack was proof that telecom companies are compromised because he used 2FA, a password manager, and a strong password.

Rumours Around Binance on Sale

In the last 24 hours, some crypto X users claimed that the world’s biggest crypto exchange, Binance, is on sale. In response to such rumours, Binance co-founder He Yi said that all these rumours are made by Binance competitors. Yi also said that the Binance team always shows interest in Institutions for investment purposes.

Bitcoin (Btc) Dominance in the Crypto Sector

The current dominance of Bitcoin (BTC) in the whole crypto market is nearly 60%, the highest over the last 4 years. This BTC Market dominance is a very big hint that Bitcoin investors are unfazed by the recent downturns. This also shows that the crypto options market is waiting for real policy changes instead of just pro-crypto statements.

Bitcoin Maximalists Shifted From Bitcoin to Bitcoin Spot ETF

A popular Crypto X user, “PlantB”, a Bitcoin maximalist who is known for promoting Bitcoin, said that he shifted his Bitcoin investment to Bitcoin spot ETF. He admitted that he believes in the “not your key, not your coin” concept, but he feels safer with Bitcoin spot ETF investments because now he doesn’t need to keep his private key safe & no tension of a hacking incident.

JP Morgan Increases $MSTR Stakes

JP Morgan recently purchased $100 million worth of Bitcoin bull firm Strategy ($MSTR) stocks. Now, this bank holds a net $300 million worth of $MSTR stocks. It is worth it to know that its CEO Jamie Dimon didn’t forget to ditch Bitcoin, but still, JP Morgan has been engaged in Bitcoin-related activities deeply, e.g. since last year, this has been one of two authorized participants for Bitcoin ETF issuers, meaning it facilitates capital flows in and out of the fund.

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.