Web3🌗Wednesday Market Shifts: Meme Coins, ETF Hurdles, and Crypto Controversies Unfold

The Web3 world never sleeps, and today’s headlines are proof of that. From the team behind Milei’s Libra meme coin to BlackRock’s Bitcoin ETF facing hurdles, the crypto landscape is buzzing with developments. Meanwhile, Dave Portnoy’s dramatic $GREED crash and relaunch, along with Dior’s coin plummeting after a security breach, highlight the volatile nature of digital assets. Whether you're an investor, a trader, or just a crypto enthusiast, staying informed is key. Let’s dive into the biggest stories shaping the future of blockchain and decentralized finance.

1. Inside the team behind Milei’s Libra Meme Coin

Argentine President Javier Milei faces controversy after promoting and then distancing himself from the Solana-based meme coin LIBRA. The token crashed, sparking a lawsuit and a blame game among key figures linked to its launch. Allegedly involved are Julian Peh of KIP Protocol, Hayden Davis of Kelsier, and traders Mauricio Novelli and Manuel Godoy. While KIP Protocol denies involvement, Davis claims control over $100 million in LIBRA-related funds. The unfolding scandal raises questions about accountability, with each party deflecting responsibility as scrutiny intensifies. The crypto world watches closely to see who, if anyone, will take the fall.

Everything You Need to Know About the Team Behind Milei’s Libra Meme Coin - Decrypt

Argentine President Javier Milei has found himself in a meme coin mess. These four men are allegedly behind the Solana token, Libra.

DecryptRyan S. Gladwin

2. BlackRock’s Bitcoin ETF faces roadblocks – Bloomberg

BlackRock’s iShares Bitcoin Trust ETF (IBIT) has surged past $50 billion in assets within a year, but challenges loom, according to Bloomberg’s Eric Balchunas. He highlights Bitcoin’s correlation with stock market declines as a key hurdle for broader ETF adoption. Despite market volatility, IBIT continues to attract major investors like Abu Dhabi’s Mubadala Sovereign Wealth Fund, which recently invested $436 million. However, Bitcoin ETFs saw their first net outflows in 2025, totaling $585 million last week. With institutional interest rising but market momentum slowing, investors remain cautious amid Jerome Powell’s stance on rate cuts and inflation concerns.

BlackRock’s Bitcoin ETF Faces Headwinds Due to Stock Market Correlation

Eric Balchunas highlights challenges for IBIT Bitcoin ETF, including stock correlation and slowing institutional momentum in 2025.

BeInCryptoKamina Bashir

3. Dave Portnoy tanks $GREED 99%, then launches $GREED2

Dave Portnoy, founder of Barstool Sports, has sparked controversy in the crypto space after launching and abruptly dumping the meme coin $GREED, causing a 99% crash before introducing $GREED2. Holding over 35% of the supply, his sudden sell-off wiped out nearly $358 million in value, netting him around $258,000. He defended the move, calling the meme coin market driven by pure greed. Despite the backlash, he now holds $268 million worth of $GREED2 and has also backed $JAILSTOOL. This follows a $170,000 investment mistake in a fake LIBRA token, which saw a 3,000% surge due to his involvement.

Dave Portnoy crashes $GREED by 99%, then launches $GREED2 amid controversies

Dave Portnoy crashes $GREED by 99% after selling all holdings, sparking crypto controversies, then launches $GREED2 amid backlash.

Crypto BriefingVivian Nguyen

4. Dior Coin drops 90% after hack recovery

Dior’s official Instagram account was hacked on Feb. 19, promoting a fake Solana-based meme coin called Dior Official Coin to its 46.8 million followers. The fraudulent post, which included a link to the Pump.fun launchpad, quickly raised suspicion, with users questioning whether Dior’s account was compromised. The token initially surged 138% in value and amassed over $1 million in trading volume before crashing 90% after the post was deleted. Despite the breach, Dior has yet to release an official statement. This follows a similar hack earlier this month targeting Solana DEX aggregator Jupiter, used to promote another scam coin.

Dior coin crashes 90% after Dior recovers hacked account

The Dior coin fell more than 90% after it was revealed to be a fake Solana meme coin promoted by a hacker on the Dior official account

crypto.newsTrisha Husada

The Web3 space is evolving at lightning speed, with new opportunities and risks emerging daily. From meme coin controversies to major ETF predictions, today’s headlines remind us that crypto remains as unpredictable as ever. Whether it’s market shake-ups or security concerns, staying informed is the key to navigating this fast-paced industry. Keep an eye on these developments, and don’t forget to follow us for more insights into the world of blockchain, DeFi, and digital assets. The next big shift in Web3 could be just around the corner—are you ready?

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