Circle, the publicly traded issuer of the USDC stablecoin, is considering a fundamental shift that could reshape its role in digital finance: enabling reversible transactions. This exploration, confirmed by Circle President Heath Tarber to the Financial Times, directly challenges the blockchain principle of immutability—the idea that finalized transactions cannot be altered. The move is aimed squarely at making USDC more palatable and functional for traditional finance players who rely on chargeback and fraud reversal mechanisms, potentially catalyzing deeper integration between the two worlds.
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Hayden Davis Accused of $12M YZY Token Snipe Operation
Bubblemaps’ investigation alleges Hayden Davis (aka Kelsier) executed a coordinated sniping operation on Kanye West’s YZY token just minutes after its launch, using 14 interconnected wallets that purchased tokens beginning at 1:54 AM UTC. The operation generated approximately $12 million in profits through precisely timed transactions funded from centralized exchanges. This occurred just days after a US judge unfroze $57.6 million in USDC stablecoins tied to Davis’s previous LIBRA token scandal. The YZY token experienced extreme volatility, reaching nearly $3 billion market capitalization before collapsing over 90% within hours, with independent analysis suggesting 94% of initial supply was controlled by insiders. While Bubblemaps couldn’t confirm insider information, they documented clear coordination patterns resembling Davis’s previous involvement in MELANIA and LIBRA token launches.
read moreLibra Token Soars 400% After Court Unfreezes $57M USDC
A federal judge in New York has lifted a freeze on $57 million worth of USDC connected to the Libra token lawsuit, finding that the defendants—meme coin promoter Hayden Davis and former Meteora CEO Ben Chow—complied with court restrictions and didn’t attempt to conceal the assets. Although the underlying lawsuit continues, the decision immediately fueled a 393% rally in LIBRA’s price as traders reacted to the unexpected liquidity release. The token, which collapsed in February after briefly reaching a $4.56 billion market cap amid speculation fueled by an Argentine presidential post, remains under legal scrutiny, but the court’s move has reintroduced volatility and speculative interest.
read moreJudge Unfreezes $57.6M in Libra Meme Coin Scandal Case
Manhattan federal judge Jennifer Rochon has unfrozen $57.6 million in USDC that was frozen in June as part of the Libra meme coin scandal case. The judge determined that defendants Hayden Davis (CEO of Kelsier Labs) and Ben Chow (founder of Meteora) were not acting as “evasive actors” given their compliance with legal proceedings. Rochon expressed skepticism about the plaintiffs’ likelihood of success in their $100 million damages claim, noting that money damages would be available if plaintiffs prevailed and that they hadn’t shown irreparable harm. The Libra token, promoted by Argentine President Javier Milei in February, reached a $1.17 billion market cap before crashing 97% within 24 hours amid allegations of misleading investors and insider trading.
read moreJudge Unfreezes $57.6M USDC in Libra Token Scandal
US District Judge Jennifer L. Rochon has unfrozen $57.6 million in USDC stablecoins that were previously frozen in May as part of a class-action lawsuit related to the Libra token scandal. The funds belong to memecoin promoter Hayden Davis and former Meteora decentralized exchange CEO Ben Chow. Judge Rochon determined that the defendants demonstrated sufficient cooperation and noted that victim reimbursement funds remain available. The ruling also highlighted that the defendants had made no attempts to move the frozen assets, reducing concerns about irreparable harm. This development marks a significant turn in the ongoing legal proceedings involving KIP Protocol and its co-founder Julian Peh.
read moreJupiter Exchange Surpasses Major DeFi Platforms in Daily Revenue and Fees
Jupiter Exchange has emerged as a leading player in decentralized finance, generating $2.73 million in revenue over 24 hours, surpassing competitors like Pump.fun and PancakeSwap. With total fee earnings of $10.88 million, it ranks second only to Tether, which earned $18.19 million. Despite recent turbulence in Solana’s DeFi space, Jupiter’s JUP token has shown resilience, gaining 9.5% in price over the last day.
read moreCrypto Market Growth Driven by Ethereum ETFs and Corporate Bitcoin Accumulation
The cryptocurrency market in early 2025 is witnessing notable growth, highlighted by a resurgence in Ethereum ETFs, which have seen $393 million in net inflows, contrasting with Bitcoin ETFs’ $376 million outflows. Corporate entities like Strategy are aggressively accumulating Bitcoin, raising $2 billion to enhance their holdings, while the NFT market shows signs of revival with a significant $3 million sale. Despite these developments, challenges such as Ethereum’s declining transaction fees and ongoing regulatory uncertainties persist, indicating a complex landscape for the crypto ecosystem.
read moreJupiter Token Faces Decline Amid LIBRA Controversy and Market Reactions
Jupiter Token (JUP) has seen a 12% decline amid the fallout from the LIBRA controversy, linked to its association with Meteora, the DEX where LIBRA traded. Despite a 4% recovery today, concerns linger over reputational damage, especially after co-founder Ben Chow stepped down amid allegations of prior knowledge of LIBRA’s legitimacy. The token’s price remains volatile, with hopes for recovery contingent on avoiding further scandal connections.
read moreBarstool Founder Launches and Sells GREED Meme Coin in One Hour
Barstool Sports founder Dave Portnoy launched the $GREED meme coin as a social experiment, only to sell his entire position within an hour, causing its value to plummet over 90% and netting him approximately $258,000. This move comes amid controversy in the meme coin space, particularly surrounding the LIBRA token, which faced allegations of insider trading and market manipulation. Following the $GREED incident, Portnoy introduced another token, GREED2, while emphasizing his freedom to sell other coins despite previous claims.
read moreSolana Faces Negative Sentiment Amid Allegations of Meme Coin Misconduct
Sentiment towards Solana has turned negative following allegations of it becoming a “meme coin casino,” exacerbated by the recent Libra incident involving Argentine President Javier Milei. Analysts criticize the network for numerous rug pulls and insider trading claims linked to the meme coin platform Meteora. Despite a 15% price drop and declining fee burn, some believe Solana’s challenges are temporary, emphasizing its broader use cases beyond meme coins.
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