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- 2/8/25: OpenSea Navigates The Fog ⛵️🇭🇰✋
2/8/25: OpenSea Navigates The Fog ⛵️🇭🇰✋

Today’s issue is brought to you by Safe — the world’s leading smart account provider on EVM, securing $100B+ in assets (including Vitalik’s).

Top News
OpenSea denies leaked airdrop details, calls rumors false
Hong Kong allows BTC & ETH as proof of assets for visa
SEC and Binance agree to pause case for 60 days

Specs’ Insights
1. OpenSea denies leaked airdrop details, calls rumors false
gm. none of the rumors on X today are true. tysm 💙
only trust links that we post from this account.
— OpenSea Foundation (@openseafdn)
3:23 PM • Feb 10, 2025
⌐◪-◪ → Is the OpenSea airdrop real?
The OpenSea Foundation is shutting down rumors about their upcoming airdrop. Specifically, they denied reports that the drop would require strict KYC, geo-block U.S. participants, and ban VPN usage—calling them completely false.
Even OpenSea’s CEO, Devin Finzer, chimed in, saying he was “disappointed to see false rumors spreading” and that “there’s a lot to be excited about, but we’ll share when we’re ready.”
The origin of these rumors is unclear, but it’s a good reminder to double-check sources—especially when the “facts” align too perfectly with our biases (i.e., most NFT collectors already hate OpenSea).
That said, an OpenSea airdrop still feels inevitable, though Polymarket odds of it happening before April have now dropped to 45%.
If you think you’re eligible, now might be a good time to turn on notifications for OpenSea and OpenSea Foundation on X.
2. Hong Kong allows BTC & ETH as proof of assets for visa
JUST IN: 🇭🇰 Hong Kong confirms #Bitcoin and ETH can be used as proof of assets for their new investment visa.
— Bitcoin Magazine (@BitcoinMagazine)
12:26 PM • Feb 11, 2025
⌐◪-◪ → The global battle for crypto rages on!
Hong Kong just announced that Bitcoin and Ethereum can now be used to meet asset requirements for its New Capital Investment Entrant Scheme visa. Applicants need to prove a net worth of HK$30 million ($3.8 million), and now, for the first time, cryptocurrency holdings count.
But here’s the catch: once granted a visa, the Bitcoin and Ethereum must be converted into other assets. On one hand, this is bullish—another government formally recognizing crypto as a legitimate asset class. On the other, it shows low conviction in Bitcoin’s long-term value.
Regardless, this move highlights a growing trend: countries aren’t just competing to accumulate Bitcoin—they’re competing for the people driving crypto innovation.
That said, the real Bitcoin believers wouldn’t sell their stack just to get a visa.
3. SEC and Binance agree to pause case for 60 days
🚨JUST IN: Binance and the US SEC have filed a joint motion to pause the case for 60 days, citing the new crypto task force under SEC may have an impact on the case.
— Cointelegraph (@Cointelegraph)
6:45 AM • Feb 11, 2025
⌐◪-◪ → The SEC is pulling off their dogs!
Binance and the U.S. Securities and Exchange Commission (SEC) just filed a joint motion to pause their legal battle for 60 days. This comes after the SEC announced its new Crypto Task Force, which both parties say is reason enough to put things on hold while regulators “reassess” crypto laws.
Translation: The SEC under new leadership is actually willing to talk instead of just suing everything in sight. It’s really starting to feel like the SEC is turning pro-crypto. Amazing what happens when you replace the head of the snake.
As a reminder, they already reassigned 50+ lawyers from crypto enforcement, and now they’re pressing pause on one of their biggest cases.
The vibe shift is undeniable.

Everything Else
⛓️ Crypto & DeFi
Ethereum gas fees hit 5-year low of $0.04
OpenSea denies airdrop-related talk of enforced KYC plans
Berachain controversy as co-founder sells BERA tokens
Solana DEX volume soars to $60M
Solo miner beats the odds, winning $310K BTC reward
BTC difficulty hits ATH as one metric signals miner capitulation
Elon Musk offers $97.4 billion to buy OpenAI
Klarna says it will look to integrate crypto
Binance corporate reserves shrink despite $7B rise in user balances
Proton rolls out self-custodial Bitcoin wallet to all users
Changpeng Zhao critiques Binance’s token listing process as 'a bit broken'
Yi He discusses Binance's token listing criteria after CZ's remark
Base defends moving sequencer fees to Coinbase custody for 'security'
Story Protocol to launch mainnet later this week
🏦 Wall Street & VC
Crypto investment products see $1.3 billion in weekly inflows
Strategy resumes bitcoin acquisitions with $742 million buy
Bitcoin supply shortage puts institutions in a tight spot
NYSE Arca files for Cardano ETF
Grayscale files for a Cardano ETF
Ethereum funds outpace Bitcoin ETFs in terms of inflows
ETF approval odds are high for XRP, SOL, DOGE, and LTC
Holonym acquires Gitcoin Passport
Drosera raises $3.25M, bringing total funding to $4.75M
🏛️ Legal & Regulatory
Maxine Waters releases draft proposal to regulate stablecoins
North Carolina joins growing list of states considering crypto reserves
Hacker pleads guilty to hacking SEC’s Twitter account
FTX begins $16B creditor repayments starting February 18th
🌎 Rest Of The World
British investor seeks to buy landfill to find for $768 in lost Bitcoin
Three arrested in Spain over plot to kidnap and extort crypto broker
Poland central bank won’t buy BTC “under any circumstances”
WazirX offers 85% of stolen funds back
Gumi, a Japanese game maker, announces $6.6M Bitcoin purchase
Thai police seize $2.5M USDT from alleged scam operation
South Korea lawmaker off the hook in crypto disclosure case
Hong Kong takes a patient approach to regulating crypto
🖼️ NFTs & Metaverse
Kaito announces Genesis NFTs can be used for voting power
Memecoin scams caused $500M in investor losses in 2024
Goblintown reveals 'really hard driving game'
Central African Republic meme coin surged to $900M before crashing
Oracle Red Bull Racing and Gate.io expand blockchain’s global reach
Barstool’s Dave Portnoy sells $550k in memecoins related to him
