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  • 2/17/25: Yuga Sells Meebits IP 🔥🇦🇷🇨🇳

2/17/25: Yuga Sells Meebits IP 🔥🇦🇷🇨🇳

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Top News

  1. Yuga Labs sells Meebits IP, shifts focus to BAYC and Otherside

  2. Javier Milei hit with fraud charges over LIBRA cryptocurrency

  3. Hu Lezhi burns $1.4M ETH and accuses Kuande of mind control

Specs’ Insights

1. Yuga Labs sells Meebits IP, shifts focus to BAYC and Otherside

⌐◪-◪ → All hail Sergito, King of Meebits!

Yuga Labs has officially sold Meebits IP to MeebCo, run by fellow CryptoPunk Sergito Silva. If anyone was gonna take the torch, it had to be Sergito—dude has been waving the Meebits flag for years, even when nobody else cared. His conviction never wavered, and now he finally gets the chance to build Meebits the way he always envisioned.

MeebCo isn’t wasting any time. They’re rolling out “Bits”, a participation-driven rewards system, and they’ve already locked in an official third-party marketplace partnership with OpenSea. Big moves out the gate.

This sale is a huge moment, not just for Meebits but for Yuga’s IP strategy overall. If you remember, Meebits was originally sold to Yuga by Larva Labs—the same company that created CryptoPunks. Naturally, this raises the question: what happens to Punks?

Last month, Yuga’s lead dev 0xQuit said they’d consider selling Punks, but only to the "right" buyer at the "right" price—and only if that buyer is a community member who will do absolutely nothing with the brand. That’s a wild requirement, but it seems Yuga is willing to part ways with legacy projects under the right conditions.

For reference, here’s how the Larva Labs IP has changed hands so far:

  • CryptoPunks → Larva → Yuga

  • AutoGlyphs → Larva (never sold)

  • Meebits → Larva → Yuga → MeebCo

Does this mean CryptoPunks could finally land in the hands of the community? No idea. But for now, let’s take a moment to congratulate Sergito—this is a huge win for him and the Meebits community. Go show him some love on Twitter.

2. Javier Milei hit with fraud charges over LIBRA cryptocurrency

⌐◪-◪ → Javier Milei is in trouble.

Argentinian President Javier Milei is facing fraud charges and possible impeachment over his $LIBRA rug pull.

Last week, Milei personally endorsed $LIBRA in a now-deleted tweet, causing the market cap to skyrocket to $4.4B before insiders dumped it into oblivion—wiping out 95% of its value. The token was launched with Kelsier Ventures and promised to “fund Argentina’s development,” but instead, it became one of the biggest memecoin scandals in recent history.

Turns out, a bunch of KOLs knew about it beforehand, and now allegations of insider trading are flying left and right. Dave Portnoy even revealed he was given a massive allocation, but unlike others, he refunded it out of integrity.

Meanwhile, Kelsier Ventures made $110M on the launch, and their founder Hayden Davis just self-incriminated on Coffeezilla, which is about as dumb as it gets. To make matters worse, the same team that issued $LIBRA also launched $MELANIA, another memecoin with similar shady mechanics.

The zero-sum memecoin PVP game is spiraling out of control—so much so that some folks are actually wishing Gary Gensler was still in charge.

Meanwhile, r/Buttcoin is absolutely losing its mind over this one. Not a good look for crypto at all.

3. Hu Lezhi burns $1.4M ETH and accuses Kuande of mind control

⌐◪-◪ → What the actual FUCK is going on?

A Chinese programmer claiming to be Hu Lezhi just burned 500 ETH ($1.37M) to send a message accusing Kuande Investments of brain control experiments.

His message? That the bosses of Kuande Investment, Feng Xin and Xu Yuzhi, used brain-computer weapons to persecute all employees—past and present. And according to him, even they were being controlled.

Yeah. What. The. Hell.

If this is real, it’s terrifying. If it’s fake, that’s one hell of an expensive prank. Naturally, $HULEZHI memecoins are already flying. I love/hate crypto. some days.

Everything Else

⛓️ Crypto & DeFi

  • Bitcoin network activity hits 12-month lows, transactions down 55%

  • Bubblemaps links single entity to LIBRA and Melania memecoins

  • Wrapped AVAX sees accumulation amid Bybit card cashback adoption

  • Blockchain.com takes step toward IPO with new executive appointments

  • Ethereum devs clash over looming upgrades

🏦 Wall Street & VC

  • MicroStrategy could qualify for S&P 500 if BTC stays above $96K

  • Gold-backed tokens underperform despite Wall Street dip buying

  • CalSTRS pension fund reports $83M in MicroStrategy holdings

  • Coinbase targets USDT with an $86B ‘stretch goal’ for USDC

  • Ledn navigated being debanked multiple times, here’s how

  • Wisconsin goes all-in on BlackRock’s Bitcoin ETF

  • State Street to launch digital asset custody in 2026

  • NYSE asks SEC to allow staking for Grayscale's Ethereum ETFs

🏛️ Legal & Regulatory

  • Bernstein says US could sell some of its reserves for BTC

  • IRS announces massive layoffs amid tax season

  • SEC seeks Coinbase case deadline extension for ‘potential resolution’

  • SEC meets with Jito and Multicoin to discuss staking in crypto ETFs

  • XRP ETF one step closer after SEC acknowledges filing

  • FBI says ‘Operation Level Up’ prevented $285M in crypto fraud losses

  • Crypto task force to focus on national Bitcoin reserve

  • Las Vegas man indicted for $24M crypto Ponzi scheme

  • DPN3 CluCoin founder sentenced to 27 months in prison

  • Mysten Labs president Kevin Boon on how crypto policy will evolve in 2025

  • Elon Musk’s DOGE identifies 5M people over 140 yro on Social Security

🌎 Rest Of The World

  • Binance denies sales rumors, open for strategic investments

  • Standard Chartered launches HKD stablecoin

  • Bybit is no longer operating illegally in France

  • Dave Portnoy returns 6M LIBRA tokens to project founder

  • India seizes $190M in BitConnect Ponzi case

  • Metaplanet spends another 4B yen buying Bitcoin

  • Abu Dhabi sovereign wealth fund buys $437M of BlackRock's Bitcoin ETF

  • Saudi hackers promote fake ‘official’ memecoins

🖼️ NFTs & Metaverse

  • BNB Chain prioritizes memecoin transactions as gas fees surge 400%

  • Coinbase partners with Aston Martin's F1 team

  • Pump.fun launches mobile app for Solana memecoins

  • SafeMoon to launch memecoin on Solana after burning most of SFM supply

  • Trump memecoin surges 30% as Solana tokens lead the market

  • Broccoli memecoin sniper nets $10M following CZ’s dog reveal

  • Sahil Arora ‘rugs’ fake dog coin using Caitlyn Jenner deployer wallet

  • Tether purchases minority stake in Juventus soccer team

  • $KAITO yaps snapshot completed, Genesis NFTs next

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