Web3🌕Monday Frenzy: Trump’s Crypto Moves, Solana’s Record Fees, and SEC’s Nova Labs Crackdown

The Web3 world is buzzing with drama, innovation, and headlines that are shaking up the crypto space. From Trump-linked DeFi ventures making bold Ethereum moves to Solana shattering records with $35M in daily fees, the spotlight is on! Meanwhile, meme tokens spark chaos as Trump’s coin drops 40%, and the SEC targets Nova Labs over alleged false claims about Helium partnerships. It’s a whirlwind of developments that highlight the unpredictable and dynamic nature of the crypto industry. Dive into the latest updates and discover what’s driving the excitement in Web3 today!

1. Trump-linked DeFi buys $48M ETH as Eric drops a hint

World Liberty Financial (WLF), a Trump-linked platform, has shaken the crypto world with a massive Ethereum acquisition, purchasing 14,403 ETH worth $48 million in just eight hours. This brings its total Ethereum holdings to 28,612 ETH, valued at $109 million. The move follows a weekend of meme coin launches tied to the Trump family, with Eric Trump hinting at major developments ahead. WLF’s total assets, including ETH, USDC, and USDT, have surged to $235 million. With growing market activity and speculation, WLF appears poised for a significant move, keeping the crypto world buzzing.

Trump-Linked DeFi Venture Buys $48M in ETH as Son Eric Drops Hint - Decrypt

The platform has acquired 14,403 ETH, raising its total Ethereum holdings to 28,612, valued at approximately $109 million.

DecryptVince Dioquino

2. MELANIA meme token sends Trump’s coin plunging 40%

The sudden launch of Melania Meme (MELANIA) disrupted the market, causing Trump’s meme coin (TRUMP) to lose over 40% of its value, wiping out $6 billion in market cap. MELANIA’s $12B valuation sparked skepticism, as blockchain experts highlighted poor development, lack of coordination with TRUMP, and questionable token allocation. Critics labeled MELANIA as a "grift," citing security flaws and unprofessional execution compared to TRUMP’s project. The crypto community backlash has intensified, with calls for regulatory scrutiny, casting doubt on the legitimacy and future of both meme coin ventures.

Trump’s coin plunges 40% after his wife drops MELANIA meme token

TRUMP coin plunge by 40% after Melania launches her MELANIA token leading to market losses and shifts in meme coin rankings.

Crypto BriefingVivian Nguyen

3. SEC accuses Nova Labs of Helium partnership misclaims

The SEC filed a lawsuit against Nova Labs, accusing the Helium Network creator of selling unregistered securities, including crypto-mining devices and data-trading programs. Alleged false claims about partnerships with major companies further raised concerns. This comes days before SEC Chair Gary Gensler, a known crypto critic, steps down. Under new leadership, the SEC may reconsider certain crypto cases, focusing on fraud-related issues only. Despite past crypto victories like Ripple's XRP ruling, uncertainty looms over the agency's approach to enforcement and its evolving stance under the incoming administration.

SEC sues Nova Labs over alleged unregistered crypto securities offerings

According to a Jan. 17 statement, the SEC alleged that Nova Labs, the firm behind the open-source Helium Network, sold unregistered securities through its electronic devices, which mined crypto assets.

CointelegraphCiaran Lyons

4. Solana hits $35M daily fees amid memecoin craze

Solana achieved a remarkable milestone, recording over $35 million in daily fees this weekend, driven by the launch of Donald Trump’s official token, TRUMP. The high trading volumes surged to $3 billion on Saturday and Sunday, significantly boosting Solana’s SOL token, which saw its trading volumes rise from $3 billion to over $26 billion. This surge marked a 46% weekly gain for SOL, which has seen a nearly 3,000% increase from its three-year low in December 2022. However, the excitement surrounding the TRUMP token caused a brief 50% drop in its value after First Lady Melania Trump launched her own memecoin, adding to the network’s high transaction volumes and temporarily causing delays in ecosystem apps like Jito and Phantom. Despite these hiccups, the Solana network’s performance continues to attract attention and demand.

SOL News: Solana Network Makes $35 Million on Donald Trump Meme Frenzy

Such fees are remarkably high for a low-cost blockchain, when transactions typically take fractions of a cent to settle.

CoinDeskShaurya Malwa

As the Web3 ecosystem evolves, each headline reminds us of the constant innovation and occasional turbulence shaping the crypto landscape. From Trump-linked ventures and Solana’s record-breaking success to regulatory crackdowns, the crypto world proves it’s never short on surprises. As investors, enthusiasts, and builders, staying informed is key to navigating these exciting times. Whether it’s meme coins or major Ethereum moves, there’s always something to watch. Be sure to follow along, as the next big shift could be just around the corner. Subscribe to our newsletter for more updates and insights into the ever-changing world of Web3.

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