Lionel Messi Promoted Solana Memecoin On Instagram
Football legend Lionel Messi has jumped on the meme wave and promoted WaterCoin, a Solana memecoin using his Instagram account. The memecoin aims to raise awareness for water-related issues and has celebrity partnerships to become a charity-focused token. However, the details to reach its goals are limited and the price action of the token has depicted a pump and dump nature, with some critics viewing it as another get rich quick scheme with no real use case in Web3. Despite this, celebrities have been recently endorsing memecoins and launching their own due to the popularity and ease of access to rake in money.
Report Reveals $723M In Stolen Electricity By Malaysian Crypto Miners
The Malaysian Deputy Minister of Energy Transition and Water Transformation, Akmal Nasrullah Mohd Nasir announced that $724 million worth of electricity was stolen by illegal crypto mining operators between 2018 and 2023. The announcement was made during an event where more than 2,000 mining machines and equipment were seized and disposed of valued at around $467,000. The illegal operators bypass electricity meters or divert power directly from lines, believing they cannot be detected, but energy companies have solutions to spot unusual consumption. The Malaysian Ministry continues to crack down on illegal mining and put the issue as a priority.
Nashville Bitcoin Conference To Host Speech By Trump
Former President Donald Trump is set to speak at the Nashville Bitcoin Conference later this month, joining independent candidate Robet F. Kennedy Jr. and other notable speakers. Trump has been supporting crypto recently and has set out on a campaign strategy to attract Bitcoin supporters, following his acceptance of crypto donations for his presidential campaign. With Trump's support of cryptocurrency, we can expect strong market sentiment if he is elected for U.S. president this year.
Germany’s Bitcoin Dump Adds To Crypto Market Volatility
The German government recently sold off roughly $615 million worth of Bitcoin, accumulated from seizures related to a piracy website. This follows the transfer of about 50,000 Bitcoin, valued at $2.1 billion, seized earlier this year. With 75% of the seized Bitcoin sold, concerns have risen on the impact of Bitcoin’s price, which saw a 19% drop with Germany’s sell-off. However, experts see these sell-offs as short-term volatility, and the long-term broader impact needs to remain monitored among constantly changing dynamics with Bitcoin.
Uniswap Uses Chevron Case To Challenge SEC's DeFi Authority
Uniswap Labs has requested the SEC to drop its proposal to regulate DeFi, pointing out that a recent Supreme Court decision invalidates the legal basis of the amendments. The SEC aims to expand the definition of an exchange to include DeFi participants, but Uniswap contends this would waste resources and fail in court. The Supreme Court’s Chevron decision now prevents federal agencies from interpreting unclear laws which is a setback for the SEC’s efforts. With the SEC prying deeper into regulating cryptocurrency, we can expect more legal battles soon.
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