What Happened in the Web3 World This Week?

Argentine president Milei sued for fraud over crypto investor losses.

PI Token Trading Begins, Gains Massive Interest

PI Token quickly reached a trading volume of $60 million after being listed on exchanges. It recorded the highest volume on OKX and was trading at $1.74 at the time of publication.

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LIBRA Scandal: Argentine President Milei Accused of Fraud

Argentine President Javier Milei has been sued after the collapse of the $LIBRA cryptocurrency, which he had promoted, allegedly causing investor losses. While Milei claims he was not involved in the project, lawyers argue that he facilitated the fraud.

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SEC Approves First Interest-Bearing Stablecoin in the U.S.

The U.S. Securities and Exchange Commission (SEC) has approved Figure Markets' interest-bearing stablecoin, YLDS. Offering a 3.85% yield, YLDS has been registered as a security in the U.S.

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Crypto App Downloads in the UAE Surge by 41% in 2024

According to AppsFlyer data, crypto app downloads in the United Arab Emirates reached 15 million in 2024. December saw a record-breaking 2.8 million downloads.

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Tether Co-Founder Launches Yield-Bearing Rival Stablecoin

Reeve Collins, a co-founder of Tether, is launching USP, a new decentralized stablecoin, positioning it as a competitor to the USDT he originally helped create.

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OpenSea Suspends Airdrop Reward System After User Backlash

NFT marketplace OpenSea suspended its XP rewards following user criticism. The XP system, introduced in the OS2 beta release on January 28, was designed to determine eligibility for airdrops of the platform’s native token, SEA.

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Donald Trump's XRP Post

Donald Trump shared an old news article about XRP on his Truth Social account, drawing the attention of investors.

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