Circle Breaks Up With Justin Sun

🔄 Circle Ends USDC on TRON

Immediate USDC Minting Halt: Circle has announced the immediate stop of USDC minting on the TRON blockchain, beginning a phased transition.

Support Until February 2025: Circle will assist business clients in transferring USDC to other blockchains until February 2025. Retail users must use other services.

Risk Management and Trust: This move aligns with Circle's risk management strategy to ensure USDC's trust, transparency, and safety. Read More.

️ On today's Top Picks:

  1. ⚖️ Do Kwon to be extradited to the US.
  2. 🚀 Linea launches Linea Park campaign.
  3. 🪂 Optimism drops $OP Airdrop #4.
  4. 💰 Hack VC closes $150M for new venture fund.

Read time: ⏰ 7 minutes


Crypto News


• ⭐️ Circle discontinues $USDC on TRON $TRX blockchain citing risk management.

Justin Sun reportedly buys an additional ~$36.9M worth of Ethereum $ETH.

• ⭐️ Do Kwon set to be extradited to the US following nullification of previous ruling.

Yuga Labs co-founder Greg Solano resumes role as CEO.

Fairshake Crypto Super PAC raises an additional $4.9M in funding to support pro-crypto political candidates.

Hong Kong plans to submit bills for stablecoins and OTC crypto trading.

Alpha


Rio Network testnet is live by Earndrop.

• ⭐️ Linea launches Linea Park campaign where users can earn Linea LXP.

Taiko launches Beyond Mainnet: The Road to Taiko’s BBR quest on Galxe.

Fuel unveils The Rollup OS, a modular vision for rollup technology.

Bebop releases new collection of achievements for Arbitrum traders.

Bebop commemorates support of BNB Chain with a special achievement.

Holograph releases free Holograph x Polygon Labs NFT.

DeBank releases ZKF Airdrop Hunter Web3 Badge.

Airdrops


• ⭐️ Optimism $OP Airdrop #4 for NFT creators by Olimpio.

Starknet $STRK Airdrop goes live by Olimpio.

Starknet partners with OpenBlock to distribute 40M $STRK to participating DeFi protocols.

Starknet airdrop hunters reportedly receive millions of dollars worth of $STRK via 1K+ wallets.

Finance News


Michael Saylor states he does not plan to sell any Bitcoin held by MicroStrategy $MSTR in the short term.

Marathon $MARA Bitcoin mining firm looking to acquire additional mining facilities & companies.

Capital One $COF to acquire Discover Financial Services $DFS for $35.3B.

eBay $EBAY lays off 30% of its Web3 team and suspends all digital art initiatives.

Jeff Bezos sells an additional $2.37B worth of Amazon $AMZN shares.

Thoma Bravo considers sale of JD Power for $8B.

President Biden to forgive $1.2B in student debt for nearly 153K borrowers.

Security and Exploits


US OFAC adds wallets associated with Lockbit to its blacklist.

ZachXBT exposes Crypto Rover for reportedly ghosting projects, misleading followers, and shilling pump and dump coins.

Blockaid security now enabled by default for MetaMask users.

WalletGuard illustrates how attackers are leveraging Uniswap contracts to drain assets.

Token Unlocks


• Avalanche / 9.54M $AVAX / ~$368M / FEB 21
• Space ID / 18.49M $ID / ~$12M / FEB 21
• Immutable / 34.18M $IMX / ~$121M / FEB 22
• Acala / 4.66M $ACA / ~$488K / FEB 24


Funding


• ⭐️ Hack VC closes $150M for new venture fund focusing on security, DeFi, and Web3-AI

MonkeyTilt, an adult playground for degens; raises $21M in funding.

Inco, a universal confidentiality layer for Web3; raises $4.5M in Seed funding led by 1kx.

INIT Capital, a liquidity hook money market; raises $3.1M in Seed funding.

ZeroLend, a lending market; raises $3M in Seed funding.

MATR1X FIRE, a FPS Mobile Game in metaverse; raises an undisclosed amount in Strategic funding from Animoca Brands.

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PROTOCOLASSETSAPY
Turbos logoTurbos (Sui)USDTUSDC64.49%
Notional V3 logoNotional V3 (Arbitrum)NUSDT50.36%
Umami Finance logoUmami Finance (Arbitrum)GMUSDC39.62%
Aerodrome logoAerodrome (Base)DOLAUSDC38.30%
Cetus logoCetus (Sui)USDTUSDC35.84%
Merkl logoMerkl (Arbitrum)GUSDCGDAI32.73%
Vela Exchange logoVela Exchange (Arbitrum)USDC32.48%
Conic Finance logoConic Finance (Ethereum)USDC27.54%
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. . .

That’s it for today’s edition! See you soon.

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