Web3đMonday Daily Buzz: Mileiâs Crypto Scandal, U.S. Bitcoin Reserve & Tetherâs Regulation Push!
1. Argentinaâs President Milei Faces Fraud Charges Over LIBRA Crypto
2. U.S. Crypto Task Force Eyes National Bitcoin Reserve
3. Tether Pushes for Role in U.S. Stablecoin Regulations
4. Binance Founder CZ Donates 150 BNB to LIBRA Scam Victims
Read ahead for more insights! âš
The Web3 space is buzzing with major developments today! From Argentinaâs President Javier Milei facing fraud charges over the LIBRA cryptocurrency to the U.S. forming a crypto task force focused on a national Bitcoin reserve, the landscape is shifting fast. Meanwhile, Tether is making moves to influence U.S. stablecoin regulations, and Binance founder CZ is stepping up with a donation to victims of the LIBRA scam. As the crypto world evolves, these headlines signal major regulatory and market shifts. Stay ahead of the curve and dive into todayâs biggest Web3 updates!
1. Argentinaâs President Milei Faces Fraud Charges Over LIBRA Crypto
Argentine President Javier Milei is facing fraud charges after his promotion of the LIBRA cryptocurrency, which skyrocketed past a $4 billion market cap before collapsing by 96% within hours. The charges, filed in an Argentine criminal court, claim Milei played a key role in misleading investors. The controversy began when Milei endorsed LIBRA on X, driving its price up before major sell-offs wiped out millions. As accusations of insider manipulation surfaced, Milei deleted his post and distanced himself from the project, but legal actions continue. An Argentine court is now set to determine the next steps in the case.
Decrypt Staff
2. U.S. Crypto Task Force Eyes National Bitcoin Reserve
The U.S. crypto task force is advancing plans to create a national Bitcoin reserve, a move that could set off a global race among nations to adopt BTC as a reserve asset. A Bernstein report suggests the Federal Reserve or U.S. Treasury may need to issue debt or sell gold reserves to fund Bitcoin purchases. With $20 billion in seized BTC, the U.S. government already holds a significant amount. Additionally, a proposed sovereign wealth fund could invest in leading U.S. crypto firms. This shift signals growing institutional adoption, potentially fueling the next Bitcoin bull market and reshaping global financial strategies.
Will Canny
3. Tether Pushes for Role in U.S. Stablecoin Regulations
Tether has been actively engaging with U.S. lawmakers, including Rep. Bryan Steil and Rep. French Hill, over the STABLE Act, which focuses on regulating stablecoins. The firm aims to shape future stablecoin legislation, particularly in regard to transparency and accountability. CEO Paolo Ardoino has expressed Tether's commitment to complying with U.S. regulations, despite challenges that may arise. Under the proposed bill, stablecoin issuers would need permission from the Office of the Comptroller of the Currency and must back their coins with fiat currency or short-term U.S. Treasury bills. Tether has faced scrutiny for its lack of transparency and is expected to sell some of its Bitcoin holdings to meet these new requirements.
Trisha Husada
4. Binance Founder CZ Donates 150 BNB to LIBRA Scam Victims
On February 17, 2025, Binance's founder Changpeng Zhao (CZ) donated 150 BNB, valued at $100,000, to victims of the LIBRA scam. The donation was announced via a tweet, which sparked a positive market response. BNB's price rose 2% within 30 minutes, and trading volumes surged, indicating strong investor interest. The donation helped mitigate the negative market sentiment caused by the LIBRA scam. Additionally, on-chain metrics showed a spike in active addresses, reflecting increased engagement. Technical indicators, including the RSI and MACD, pointed to a bullish trend for BNB, with AI-driven trading possibly amplifying the market reaction.
As Web3 continues to evolve, today's headlines highlight the growing intersection of crypto, regulation, and market dynamics. From legal battles to policy shifts and industry leaders taking action, these developments will shape the future of digital assets. Whether itâs Argentinaâs high-profile crypto controversy, the U.S. governmentâs Bitcoin strategy, or Tetherâs regulatory push, one thing is clearâcrypto is at the center of global financial change. Stay informed, stay ahead, and keep exploring the ever-changing world of Web3.
