Crypto Morning Brief: Some users have received FTX payouts, Monad testnet to launch on February 19
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Crypto Morning Brief: Some users have received FTX payouts, Monad testnet to launch on February 19
Grayscale announces the launch of the PYTH trust fund Grayscale Pyth Trust.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Market News: Some users report receiving FTX payouts on Kraken platform
According to AggrNews, multiple Reddit users claimed they have received FTX payouts and transferred them into their Kraken accounts.
Grayscale announces launch of PYTH Trust Fund – Grayscale Pyth Trust
Per official announcement, Grayscale has launched a new single-asset cryptocurrency investment fund, the Grayscale Pyth Trust ($PYTH). This trust allows accredited investors to gain exposure to PYTH tokens through securities without needing to directly purchase, store, or safeguard PYTH tokens.
The trust share price will track the market price of PYTH, minus applicable fees. PYTH is a digital asset issued on Pyth Network, a decentralized computing network operating on cryptographic protocols that enables users to trade PYTH tokens on blockchains.
Japanese listed company Metaplanet announces 10-for-1 stock split effective April 1
Japanese publicly traded company Metaplanet announced it will implement a 10-for-1 stock split on April 1. The company began purchasing Bitcoin in April 2024 and currently holds 2,031 BTC, worth nearly $200 million.
Bolstered by its Bitcoin allocation strategy, the company’s stock price has surged 3,900% over the past 12 months, making it Japan’s top-performing stock. In its announcement, Metaplanet stated that the current share price has created a "substantial financial burden" for investors. The stock split aims to lower the per-lot trading cost, improve stock liquidity, expand its shareholder base, and strengthen engagement with a broader investor community.
Hyperliquid announces mainnet launch of HyperEVM
According to an official announcement from Hyper Foundation, the HyperEVM mainnet has officially launched.
This version introduces general-purpose programmability to Hyperliquid’s high-performance financial system, with key features including:
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HyperEVM blocks function as part of Layer-1 execution, inheriting the security of HyperBFT consensus;
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Support for transfers between native spot HYPE and HyperEVM HYPE, with HYPE serving as the native gas token on HyperEVM;
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Standardized WHYPE system contracts for deploying decentralized finance applications.
Jupiter co-founder: Meteora lead Ben resigns
Jupiter co-founder meow announced that Ben, project lead of decentralized exchange Meteora, has chosen to resign. Meow stated that while he has full confidence in Ben’s character, Ben’s insufficient judgment and lack of focus on core project aspects over recent months are unacceptable for a project leader.
Regarding recent controversies, meow reiterated that neither Jupiter nor Meteora engaged in insider trading or financial misconduct. He noted that the company has hired renowned law firm Fenwick & West as an independent third party to conduct an investigation and issue a report. He also emphasized that JUP token operations have maintained high transparency standards, being the only major protocol to provide detailed explanations for every token type across three audits, with no off-exchange transactions conducted.
Monad announces testnet launch on February 19
Ethereum-compatible Layer 1 blockchain Monad announced on social media that its testnet will launch on February 19, 2025.
Libra co-founder claims he bribed Argentine president’s sister to influence presidential decisions
According to CoinDesk, Hayden Davis, a key figure behind the Libra token and CEO of Kelsier Ventures, previously claimed in text messages that he paid funds to Argentine President Javier Milei’s sister Karina Milei, enabling him to "control" the president’s decisions.
After the Libra token launched and sharply declined, Davis denied these claims through a spokesperson, stating he never paid any money to the president or his sister and calling it a political attack.
During the initial phase of the token launch, wallets controlled by Hayden Davis and Kelsier Ventures profited over $100 million. The token plunged more than 95% after peaking at $5, causing massive losses for speculative investors. Currently, Argentina’s opposition party threatens to initiate impeachment proceedings against the president over the matter.
Market Movements
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Focusing on Allora’s Structure and Vision: How Can Blockchain Solve AI’s Long-Tail Problem?
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