Daily Report | Strategy announces the issuance of $2 billion convertible bonds; approximately $1 billion in financial assets and two private jets belonging to SBF have been seized by the U.S. District Court for the Southern District of New York;
February 19 News OverviewOrganizer: Luan Peng, ChainCatcher
Important News:
- Binance HODLer Airdrop Launches KAITO
- FTX: Next Round of Repayment Distribution Expected to Start on May 30, 2025
- Kaito AI Will Open KAITO Claims Tomorrow
- Vitalik: Has Held a Seat on the Ethereum Foundation's Three-Person Board Since 2017
- Strategy Announces $2 Billion Convertible Bond Issuance to Support Future Bitcoin Purchases
- Libra Co-Founder Hayden Davis Denies Bribing Argentine President Milei's Sister
- Sun Yuchen: The Potential of AI and Blockchain Integration is Huge, AI Products Based on DeepSeek Will Be Launched Soon
- Binance to Update Leverage and Margin for Multiple U-Based Perpetual Contracts
"What Important Events Happened in the Last 24 Hours"
Binance HODLer Airdrop Launches KAITO
According to the official announcement, the Binance HODLer airdrop has launched the 9th project, KAITO. From February 6, 2025, 08:00 to February 11, 2025, 07:59 (UTC+8), users who purchase regular and/or flexible products on the Earn platform using BNB will receive airdrop allocations. HODLer airdrop information is expected to go live within 12 hours, and the new tokens will be distributed to users' spot wallets one hour before trading begins.
Binance will list KAITO on February 20, 2025, at 21:00 (UTC+8) and will open trading pairs against BTC, USDT, USDC, BNB, FDUSD, and TRY. Applicable seed label trading rules will apply.
FTX: Next Round of Repayment Distribution Expected to Start on May 30, 2025
FTX announced that it has begun the first repayment distribution to approved claim holders in the Convenience Classes of FTX's Chapter 11 restructuring plan. Customers are expected to receive funds within 1 to 3 business days.
The expected registration date for the next round of distributions is April 11, 2025, applicable to holders of approved FTX Class 5 customer equity claims and Class 6 general unsecured claims, as defined in the restructuring plan.
For Convenience Claims approved after the initial registration date but not yet received distributions, the next registration date is also set for April 11, 2025. The next round of distributions is expected to start on May 30, 2025.
Kaito AI Will Open KAITO Claims Tomorrow
The AI-based cryptocurrency data analysis platform Kaito AI announced that it will open KAITO claims tomorrow (February 20) at 20:00. The KAITO token economic model will be released before the token claims, and trading will open at 21:00 on the same day.
Vitalik: Has Held a Seat on the Ethereum Foundation's Three-Person Board Since 2017
Vitalik stated that the claim that he holds 3 out of 5 seats on the Ethereum Foundation (EF) board is inaccurate. He clarified that since 2017, he has only held one seat on the three-person board.
Strategy Announces $2 Billion Convertible Bond Issuance to Support Future Bitcoin Purchases
According to The Block, Strategy (formerly MicroStrategy) plans to issue $2 billion in zero-coupon convertible senior bonds for general corporate purposes, including acquiring Bitcoin. These bonds will mature on March 1, 2030, and can be settled in cash, Class A common stock, or a combination of both. The company also grants initial purchasers an option to buy an additional $300 million in bonds.
Previously, Strategy issued a profit warning in its 10-K filing, primarily due to a $1.79 billion impairment loss on digital assets. The company warned that a significant decline in the market value of Bitcoin could affect its ability to repay debts and liquidity, forcing it to sell Bitcoin at unfavorable prices.
In 2024, Strategy acquired approximately 258,320 BTC and currently holds 478,740 BTC, valued at over $46 billion. The company stated that it may rely on equity or debt financing to meet its financial obligations in the future, with success depending on the market value of Bitcoin.
Libra Co-Founder Hayden Davis Denies Bribing Argentine President Milei's Sister
According to CoinDesk, Libra token co-founder Hayden Davis claimed in a text message last December that he influenced President Javier Milei's decisions by bribing his sister, Karina Milei, stating, "I gave his sister money, and he signed according to my wishes."
Karina Milei is a key figure in Milei's government, currently serving as the Secretary-General of the Argentine Presidency and is the sister of the current Argentine President Javier Milei.
In response, Hayden Davis's spokesperson Michael Padovano stated that Davis does not recall sending such a message, and there is no record of it on his phone.
Davis stated, "Recent media reports that I paid President Javier Milei or his sister Karina Milei to launch the Libra memecoin are completely false. I have never paid them any fees, nor have they asked me to pay any fees. Their only concern is to ensure that the benefits of Libra can benefit the people and economy of Argentina."
Huobi HTX global advisor and TRON founder Sun Yuchen was invited to attend the Hong Kong Consensus Conference's roundtable forum themed "Unlocking DeFi for the Public: A Dialogue with World Liberty Financial and TRON." He stated that the entire cryptocurrency industry has spent a lot of time and effort over the past five years to enter the mainstream financial world. The role of WLFI in connecting traditional finance with cryptocurrency and the Trump administration's support for cryptocurrency is what the industry needs, so the collaboration with WLFI is swift and smooth.
Regarding the current Meme market, Sun Yuchen stated that meme coins are the future of cryptocurrency but need to be operated in the right way. "Recently, we have seen some meme coins' prices plummet significantly, one reason being that they were not launched in the right way. The most successful meme coins, such as Dogecoin and Shiba, developed from communities rather than being overvalued at launch. Currently, many meme coins are overvalued through VC investments, leading to price crashes and loss of market trust."
Sun Yuchen also revealed future development plans at the forum:
The decentralized stablecoin USDD currently has a market value of $200 million, with plans to double its market value in the short term. Meanwhile, it will continue to offer a high yield return of 20%, with ongoing monitoring and optimization.
The potential for AI and blockchain integration is huge, with plans to launch AI products based on DeepSeek in Q2 2025.
Binance to Update Leverage and Margin for Multiple U-Based Perpetual Contracts
According to the official announcement, Binance contracts will update the leverage and margin tiers for BADGERUSDT, BOMEUSDT, 1000FLOKIUSDT, GOATUSDT, OMUSDT, and BNXUSDT U-based perpetual contracts on February 19, 2025, at 17:30 (Beijing time). Existing positions held by users before the update will be affected, and users are advised to prepare accordingly before the adjustment.
The modular real yield layer and Instagram application chain Cygnus has completed a $20 million Pre-Seed round of financing, with participation from Manifold Trading, OKX Ventures, Mirana Ventures, and Optimism Foundation Retro Funding. This financing will enable Cygnus to expand its product range and strengthen its influence in key markets, pushing the crypto industry into the era of super applications.
Cygnus aims to build a modular real yield layer, allowing any blockchain to easily customize its own re-staking network and achieve shared security. Assets from both on-chain and off-chain can be deposited into Cygnus LVS to become liquidity validators, promoting seamless coordination and economic security.
Cygnus aims to build a transparent and decentralized economic network in emerging ecosystems and establish sustainable models to promote real-world utility and support mass adoption.
Report: Bitcoin Mining Contributes $4 Billion and 31,000 Jobs to the U.S. Economy
According to TheMinerMag, a recent report by the Perryman Group shows that Bitcoin mining has created over 31,000 jobs in the U.S., generating over $4.1 billion in total output annually. The U.S. accounts for about 40% of the global Bitcoin hash rate.
The report emphasizes that Texas is the biggest beneficiary of Bitcoin mining, with estimated annual economic activity of $1.7 billion, creating over 12,200 jobs. Georgia has an annual total output of $316.8 million, while New York contributes $225.9 million.
The report was commissioned by the Texas Blockchain Council and the Digital Chamber, both industry non-profits.
According to Cointelegraph, Hong Kong Financial Secretary Paul Chan stated during a keynote speech at the "Consensus Hong Kong 2025" conference that Hong Kong will maintain a stable, open, and vibrant digital asset market as the Web3 ecosystem continues to develop.
Paul Chan pointed out that Hong Kong is investing heavily in related infrastructure and talent development. Currently, Hong Kong's Cyberport has gathered over 270 blockchain companies, with more than 120 added in the past 17 months.
Insiders: X Platform is Negotiating Financing at a $44 Billion Valuation
According to insiders, Elon Musk's social media company X is negotiating with investors to raise funds at a $44 billion valuation, the same price Musk paid to acquire the company in 2022.
This round of financing will be a significant turning point for the social media giant after Musk's acquisition and reforms led to many users and advertisers fleeing. The sources stated that negotiations for the new round of X financing are still ongoing, and details may change.
The company may also abandon the financing negotiations. This is the first known investment round since Musk privatized the social media company.
According to CoinDesk, the U.S. federal court detailed the scale of assets SBF owned before being tried and imprisoned for fraud, as well as how the U.S. government quickly intervened to seize approximately $1 billion in financial assets and two jets.
The final forfeiture order issued by the U.S. Southern District Court of New York on Tuesday formally stripped SBF of ownership of all assets listed in a lengthy property list. Alameda's assets on Binance include: $56 million XRP, $3.6 million TRX, $3.4 million ADA, $2.3 million BTC, and dozens of other tokens.
The most significant asset is the proceeds from the sale of Robinhood stock—$606 million held by SBF's Emergent Fidelity Technologies.
Other financial assets include:
- 119 million USDT held by Alameda Research on Binance;
- $21 million held by Emergent Fidelity Technologies at Marex;
- $50 million held by FTX Digital Markets at Moonstone Bank;
- $101 million held by FTX Digital Markets at Silvergate;
- $7 million held by SBF and another individual at Flagstar Bank.
The list of seized assets also includes two private jets: a 2009 Bombardier Global 5000 and a 2006 Embraer Legacy.
Court documents also detail over 250 political donations that have been withdrawn from the recipients' campaign activities and organizations, including amounts donated by FTX executives under SBF's direction.
Zhao Changpeng: All Tokens Received Will Be Donated, Possibly to Those Who Lost on TST or Broccolis
Zhao Changpeng posted on the X platform, "When you try to make money quickly, you often lose everything. When you are generous, you will get more in return.
I donated 150 BNB (about $100,000) to a college student who invested $50,000 of his own money to help Libra victims.
Now, the address has received more BNB than I donated and has also received more tokens.
I will not keep a single cent of it. I will continue to donate, likely to those who lost on TST or some Broccolis. This is not an endorsement of any token, so please do not overinterpret."
"What Are the Exciting Articles Worth Reading in the Last 24 Hours"
On February 12, former ParaFi Capital partner Santiago Roel Santos announced Inversion Chain on social media. He stated that Inversion will focus on "on-chain real GDP," allowing businesses to fundamentally improve their operations and performance through on-chain integration. Inversion Chain will drive the world's first crypto-native private equity strategy, specifically through acquiring traditional businesses and anchoring them on the Inversion chain.
Previously, in November last year, Santiago Roel Santos announced the launch of the private equity fund Inversion Capital, which was also the embryonic stage of the Inversion Chain concept. At that time, Santiago had already decided to acquire traditional businesses and adopt crypto technology to transform their operations, emphasizing "acquisition" rather than collaboration and acceptance, indicating that Inversion Chain will be a customized, sovereign L1.
It is reported that Inversion Chain will adopt Avalanche L1's customized chain technology. Besides the founder and the project's initial concept, Inversion currently has nothing else, and in Santos's recent posts, he is also recruiting a CTO and other team members. However, this seemingly ambitious project has already taken root.
From Q4 2024 to early 2025, the competitive landscape of Solana's DeFi ecosystem is gradually emerging, mainly reflected in the rise of aggregators, the abstraction of user experience (UX), significant integrations, and evolving token economic standards. Although these changes were not initially apparent, recent data has clearly shown their impact, particularly in liquidity redistribution, fee generation, and market share changes.
This analysis delves into the liquidity positioning of major decentralized exchanges (DEXs) based on Solana—Raydium, Jupiter, Orca, and Meteora—highlighting their advantages, disadvantages, and potential investment impacts relative to existing and emerging competitors.
New BROCCOLI Hits 50M in Half an Hour, Reviewing the "Broccoli War" Triggered by This Donation
On February 18 afternoon, the previously quiet narrative of "CZ's Dog" suddenly became active, with a new $BROCCOLI issuance around 6 PM, rapidly rising in a short time to hit a market cap of 50M within an hour and stabilizing around 10M. The explosive popularity of this token is not only a renaissance but also closely related to the recent $LIBRA and "charity relief."
From a holding strategy perspective, various institutions have different market expectations and asset allocation directions, with several institutions significantly increasing their holdings in Q4 2024, particularly BlackRock's IBIT being the most attractive.
OpenSea's Seven-Year Journey, Once the "King" of NFT Exchanges, Now Chooses to Issue Tokens
On the evening of February 13, OpenSea announced the launch of the OS2 public beta version on X and will introduce the platform token SEA, hinting at an upcoming airdrop. Although the specific timeline and details have not been disclosed, this announcement undoubtedly stirred the hearts of many veteran players in the crypto space, with the tweet's comments and retweets surpassing a thousand within an hour, and community discussion heated up.
OpenSea CEO Devin Finzer also emphasized in a tweet, "The OS2 being launched is not just a new product, and SEA is not just a token, but a completely new OpenSea built from scratch." There have also been rumors that OpenSea's new version will reference Blur's trading-centric UI.
Meme Popularity Ranking
According to the meme token tracking and analysis platform GMGN, as of February 19, 19:50:
The top five popular Ethereum tokens in the past 24 hours are: LINK, SHIB, UNI, USDe, PEPE
The top five popular Solana tokens in the past 24 hours are: TRUMP, PEPEAI, XAI, RAY, KMNO
The top five popular Base tokens in the past 24 hours are: AI, GPS, AERO, B3, VIRTUAL
