**News Flash: LIBRA Token Turmoil in Argentina**

KIP Protocol, a Web3 firm, recently revealed its involvement in Argentina's Libertad project, which included the LIBRA token. The token's value plummeted over 95% shortly after its launch. KIP Protocol's CEO, Julian Peh, clarified that the company was merely a tech consultant for fund distribution and did not create or profit from the token.

President Javier Milei initially endorsed the project but later withdrew his support, citing limited knowledge about it. Concerns arose over the project's legitimacy, with analysts pointing out its hastily created website and questionable domain registration.

**Bitcoin Eyes Record Highs Amid Bullish Patterns**

Bitcoin has broken out of a four-year bullish megaphone pattern, potentially setting the stage for record highs. Analyst Gert van Lagen suggests BTC could hit $270,000-$300,000 by 2025, driven by a parabolic rise following a breakout above the pattern's upper boundary.

- **Megaphone Pattern**: Characterized by higher highs and lower lows, signaling a potential price surge.
- **Elliott Wave Theory**: BTC is in Wave (5), the final phase, aligning with Fibonacci targets.
- **Gold Comparison**: Analyst apsk32 sees BTC following gold's trajectory, possibly reaching $400,000.

Institutional adoption is rising, with companies integrating BTC as a treasury asset, echoing gold's role as a value store.

Dan Morehead, founder of Pantera Capital, is under investigation by the US Senate Finance Committee for potential tax law violations after moving to Puerto Rico. The committee is examining if Morehead improperly claimed tax exemptions on over $850 million in investment profits. Morehead insists he complied with tax laws since relocating in 2021. This scrutiny highlights growing regulatory focus on crypto taxes. The IRS plans to enforce third-party reporting for crypto transactions by 2025, sparking industry backlash and a lawsuit from the Blockchain Association challenging the new rules.

Crypto markets are buzzing with a record-breaking surge in new cryptocurrencies. January saw over 600,000 new tokens launched, a 12-fold increase from last year, according to CoinGecko's Bobby Ong. Platforms like Pump.Fun are making token creation easier, fueling this growth.

However, this explosion of tokens is spreading investor attention and liquidity thin, leading to fragmented price movements. Established altcoins are struggling to regain their 2021 highs, with a delayed altcoin season predicted due to this token dispersion.

Institutional players are also reshaping liquidity flows, altering traditional market dynamics. As the crypto landscape evolves, analysts expect the number of tokens to potentially surpass one billion in the next five years.

**Libra Token Crashes After Insider Sell-Off**

The launch of Libra (LIBRA), a cryptocurrency backed by Argentine President Javier Milei, ended in disaster as insiders offloaded over $107 million, slashing the token's value by 94% within hours. Onchain intelligence firm Lookonchain reported that eight wallets linked to the Libra team withdrew liquidity, securing 57.6 million USDC and 249,671 SOL. Initially peaking at a $4.56 billion market cap, the token plummeted to $257 million. President Milei deleted his endorsement, blaming political rivals for exploiting the situation. Concerns about Libra's tokenomics were raised prior to the collapse.

A Las Vegas man, Brent Kovar, is facing serious charges for allegedly defrauding over 400 investors out of $24 million through a deceptive AI-driven crypto mining scheme. Kovar promised investors fixed annual returns of 15% to 30% and a 100% money-back guarantee, falsely claiming his company, Profit Connect, was backed by the FDIC. Instead, he reportedly used the funds for personal luxuries. Kovar is charged with multiple counts of wire and mail fraud, facing up to 330 years in prison if convicted. This case highlights ongoing concerns over crypto-linked Ponzi schemes.

**SEC Seeks More Time in Coinbase Lawsuit Amid New Crypto Task Force Developments**

The SEC has requested an extra 28 days to review Coinbase's appeal in their ongoing legal battle, now stretching over 20 months. This comes as the SEC's newly formed crypto task force could potentially resolve the dispute. Coinbase agreed to the extension, moving the deadline to March 14. The task force, led by Commissioner Hester Peirce, aims to create a digital asset framework, raising hopes for progress in the crypto industry. This follows a judge's recent decision to pause proceedings until an appeal is resolved.

Grayscale has filed with the SEC to allow staking in its spot Ethereum ETFs, potentially enabling the Grayscale Ethereum Trust ETF and Grayscale Ethereum Mini Trust ETF to stake Ether. This move aims to enhance the funds' efficiency and benefits for investors, though Grayscale won't guarantee specific returns. This follows a similar filing by 21Shares. Previously, the SEC required the removal of staking from Ether ETFs before their approval in 2024, but this stance may change under a more crypto-friendly administration. The estimated staking reward rate for Ether is 2.06%.

Goldman Sachs has made a surprising pivot towards cryptocurrencies, significantly boosting its Bitcoin and Ether ETF holdings. Recent SEC filings reveal the bank's purchase of $1.28 billion in Bitcoin and $476 million in Ether ETFs, marking a sharp increase in its crypto exposure. This move aligns with a broader trend of institutional adoption, despite February's crypto price dip.

Meanwhile, Japan's Metaplanet saw a 4,800% stock surge after acquiring Bitcoin, with plans to hold up to 21,000 BTC. Additionally, gaming studio Gumi invested 1 billion yen in Bitcoin, supporting its blockchain ambitions. Circle's USDC has also rebounded, doubling its market cap since late 2023.

Crypto businesses in El Salvador are hopeful that a potential Trump presidency could ease banking restrictions, aiding the crypto sector's growth. Despite El Salvador's pro-Bitcoin stance since 2021, local crypto firms still face hurdles in accessing traditional banking services due to fears of US regulatory repercussions. Optimism is rising, however, as US leaders push for clearer crypto regulations. Some US banks, like Morgan Stanley and Bank of America, are showing interest in crypto services, suggesting a possible shift in the financial landscape.

**News Flash: States Eye Digital Assets for Inflation Hedge**

West Virginia State Senator Chris Rose has introduced the Inflation Protection Act of 2025, proposing that the state's treasury invest in digital assets or precious metals. The bill allows investment in digital assets with a market cap over $750 billion, currently only Bitcoin. The proposal limits such investments to 10% of total funds, with options for onchain or ETF holdings.

This move aligns with a broader trend across US states, including Utah, Kentucky, and Michigan, exploring digital asset reserves as a hedge against inflation. These state-level initiatives could precede federal actions on digital asset reserves.

Coinbase and Robinhood have exceeded expectations in their Q4 earnings, driven by a surge in crypto trading volumes. Analysts have raised their price targets for Coinbase to $344 and $300, citing its impressive $2.3 billion revenue and $1.3 billion net income. Retail and institutional trading volumes hit new highs, boosting Coinbase's performance.

Robinhood's crypto revenue soared 700% year-on-year, contributing significantly to its profits. Analysts increased its price target to $45, highlighting the growing importance of crypto trading for the platform. Both companies are poised for further growth as they expand their crypto offerings.

Wisconsin's pension fund is diving deeper into Bitcoin, boosting its exposure to $321 million, as revealed in a recent SEC filing. This marks a significant increase from its previous $164 million investment in Bitcoin ETFs. The fund has shifted entirely to BlackRock’s iShares Bitcoin Trust, dropping its Grayscale Bitcoin Trust holdings. This move underscores a trend where pension funds are using Bitcoin to hedge against inflation and diversify portfolios. Despite Bitcoin's volatility, its long-term growth potential is appealing to funds with extended investment horizons.

XRP has seen a significant boost, climbing over 10% in the last two days. This surge follows the initial approval of exchange-traded funds (ETFs) and the introduction of real-world assets on the XRP ledger. The altcoin broke past its resistance at $2.50, reaching a high of $2.78.

The SEC has acknowledged Grayscale's application to list XRP and Dogecoin ETFs, with a final decision expected within 240 days. Betting odds on Polymarket suggest an 81% chance of XRP ETF approval by 2025. However, experts like Jeremy Hogan caution that full market availability might take 8-12 months due to regulatory processes.

**Crypto Regulatory Discussions Heat Up**

The SEC's Crypto Task Force recently engaged with key industry players to address pressing digital asset regulations. Meetings with the Blockchain Association emphasized the need for clear guidelines on staking and exchange-traded products (ETPs). The association urged the SEC to adopt a pro-innovation stance and correct past legal misinterpretations.

Further discussions with Jito Labs and Multicoin Capital explored integrating staking into ETPs, while Nasdaq representatives called for consistent trading rules for digital assets. The task force also met with Andreessen Horowitz and Sullivan & Cromwell to discuss token classification and securities law.

Bitcoin and Ether are showing signs of potential growth, with analysts predicting Bitcoin could hit $125,000 by June, while Ether might see a bullish reversal. Despite this optimism, institutional traders are cautious, as Bitcoin ETFs have seen outflows recently. Bitcoin's price is hovering below key moving averages, but a push above could lead to a rally. Ether is attempting a recovery, facing resistance at the 20-day EMA. Meanwhile, XRP, Solana, and other altcoins are experiencing mixed trading patterns, with potential for both upward and downward movements depending on market conditions.

**Crypto News Flash: Jupiter Exchange's Bold Move**

- Solana-based Jupiter Exchange is set to buy back up to $100 million worth of its JUP tokens annually, aiming to boost demand.

- Starting February 17, the DEX aggregator will use 50% of its protocol fees for this buyback, locking tokens for three years.

- Crypto analyst Aylo believes this strategy will attract new buyers and stabilize the market.

- Jupiter, leading in daily trading volumes, benefits from Solana's rising activity, especially in memecoins.

- This move aligns with a broader DeFi trend of sharing protocol revenues with tokenholders.

Ethereum is navigating a rocky path in 2025. Despite a bull market, Ether (ETH) lags behind its peak values and is losing ground to Bitcoin (BTC). With rising competition from newer blockchains, Ethereum's dominance in decentralized applications, smart contracts, and DeFi is under threat. Challenges like economic sustainability and usability are fueling doubts about its future. Experts weigh in on whether Ethereum can overcome these hurdles or if it's being overshadowed by rivals. For more insights, check out the full discussion on Cointelegraph's YouTube channel.

State lawmakers across the US are ramping up efforts to regulate cryptocurrency, with nine states introducing crypto-focused bills since February. These range from Bitcoin reserves to task forces aimed at shaping digital asset policies. North Carolina's proposed bill would allow investment in crypto ETPs, while Michigan is considering a crypto reserve. New York is pushing for a task force to assess crypto's impact, and Texas is expanding its Bitcoin reserve bill. As states vie for crypto leadership, the legislative landscape remains dynamic, with federal regulations potentially influencing future state policies.

Tether, the issuer of the world's largest stablecoin, USDT, has acquired a minority stake in Juventus FC, a historic Italian football club. This move aligns with Tether's strategy to integrate digital assets into daily life. The financial terms weren't disclosed, but Juventus is valued at $2.05 billion, with annual revenue of $459 million. Tether's investment follows a profitable year, with $13 billion in earnings and $113 billion in US Treasury holdings. This is part of a broader trend, as crypto firms increasingly partner with sports teams to boost digital asset visibility.