🐶📰Weekend Update

BTC $96,027 (-1.9%) | ETH $2,607 (-5.5%) | SOL $193 (-2.7%)

Welcome to the Daily Bone Weekend Update where we recap the top stories from the week. Be sure to check out our daily newsletter to get all of your news hot off the press each and every weekday!

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Headlines

• Dave Portnoy publicly traded memecoins, mulled trading crypto full time, and released a video justifying his “pump and dumps”

• Kanye West denied rumors of launching a memecoin

• Haliey Welch podcast with Faze Banks, Threadguy, and Frank was leaked — Insider trading on the HAWK token was revealed

• Crypto Czar David Sacks held a U.S. government conference on digital assets

• FTX repayments will begin on February 18th

• Trump signed an executive order to create a Sovereign Wealth Fund which could hold crypto assets

• The crypto fear and greed index dropped to 35 (Fear), the lowest level since September 2024

• Berachain launched and the BERA was listed on Coinbase — BERA is at a $3.2B FDV

Off Chain

• SEC acknowledged Grayscale’s Solana ETF filing and Nasdaq’s filing to allow for in kind redemptions on BlackRock’s Bitcoin ETF

• BlackRock announced a Bitcoin ETP to launch in Europe

• SEC Commissioner Hester Peirce stated that people should be free to invest in tokens without clear value proposition

• U.S. representatives introduced the NFT Act which would designate some NFTs as non-securities

• Tornado Cash developer was released out of prison into house arrest

• MicroStrategy changed their name to Strategy 

On Chain

• Ondo finance announced Ondo Chain, an L1 built for institutional-grade RWAs

• The average Ethereum gas price dropped below 1 GWEI

• Solana hit 1 year without a major outage

• Elon Musk wants to put the US Treasury transactions on a blockchain

• Ethereum supply flipped to inflationary since “The Merge”

• Taproot Wizards announced a $30M series A raise

• The XRP ledger experienced an hour long outage

• MegaETH announced details of a 10K soulbound NFT collection with a 1 ETH mint price

Tokens

• CZ highlighted a $500K market cap BNB token released by the Binance team causing it to surge to $48M

• Memeland’s PAIN token presale raised over $40M then announced an 80% refund

• PENGU burned 13% of supply as Kaito added a PENGU mindshare board

• Jupiter’s twitter account got hacked, released multiple contract addresses, and the hacker hosted a twitter space

• ENRON parody twitter account launched a token

• Total AI token market cap fell over 65% on the month