Gm Degens,

Today’s crypto rollercoaster is very interesting, we have seen a lot of price action and many due to memes. 

AVAX wallets are exploding with activity, memecoins are still sending, and Bybit just took a $280M hit from hackers. 

Meanwhile, Reddit’s founder is plotting a TikTok takeover – on-chain.

Oh, and Solana? Let’s just say the numbers aren’t looking too hot.

Put on your hachimaki for here's a recap of what went down in the last 24 hours 👇

🐱 An AI-powered memecoin on the rise!

💥 Don’t miss – $PWEASE memecoin skyrockets 400%

🏆 Senate throwing IRS’ DeFi rule out the window!?

🚀 AVAX wallets hit a yearly high—350K active users, memecoin presales going crazy. 

📉 Solana’s February numbers are rough—DEX volumes and app revenue down over 50%

👀 Reddit’s founder wants to put TikTok on-chain—Web3 social media revolution incoming?

🔒 Bybit hacked for $280M—funds spread across nearly 7,000 wallets. Stay safe! 

🚨 IMF orders El-Salvador to chill out on the Bitcoin buys.

🖐️ SEC Backs Off & Ohanian’s Crypto Moves

📖 NCA launches crypto education platform from $50M funding from Ripple

A U.S. politician asked for a “Thank you,” and the internet gave him a memecoin instead. WAGMI. 🚀

$PWEASE went +400% in a day, hitting a $30M peak market cap and $35M in trading volume.

Classic Solana memecoin madness.

But what the heck is $PWEASE?

It's a memecoin inspired by the parody of Vance.

It all started with J.D. Vance. Yep, the U.S. VP was in a heated convo with Ukrainian President Zelenskyy when he hit him with: “Have you said ‘Thank you’ once?” 💀

The internet did what it does best – ran with the joke. Memes, copypastas, and then BOOM: $PWEASE was born.

So, is $PWEASE legit?

Meme strength? ✅ Strong

Community hype? ✅ Huge

Utility? ❌ LOL, it’s a memecoin, what do you expect?

Chance it 100xs? 🤷‍♂️ It’s crypto. Anything can happen.

Here’s the catch ▶️ Memecoins can pump hard and nuke even harder.

If you’re holding, set stops, take profits, and don’t get greedy. 👁️👄👁️

Move over, Doge and Shiba Inu – there's a new player in town. Meet $MERK.

We all know how DeFi + AI went. Now, image Memecoin + AI. 🥶

MERK isn’t just about vibes – it’s got The Burrow, an AI-driven hub for:

🔥 AI-generated memes: Because degens need fresh copypastas 24/7

🐸 Meme AI Agents: Tokenized meme bots that interact & evolve

🎯 Earn MERK: Meme, engage, and stack tokens

📢 AI-powered viral marketing: Because if it ain't trending, it ain’t sending

What’s better than memecoins? Memecoins that pay you to hold.

🤑 300% APY for early stakers

⚖️ On-chain governance – Because "decentralization"

🔑 VIP access to AI tools

👀 Is MERK Legit or Just Another AI Buzzword?

It’s already making moves before launch 👇

✅ CoinMarketCap listing: For max visibility 📊

✅ AscendEX exchange listing: Liquidity = check 📈

✅ CertiK audit: No rug, only hugs 🛡️

The U.S. Senate just said “nah” to a controversial IRS rule that would’ve made DeFi platforms snitch on users’ transactions like traditional brokers.

The vote? 70-27 in favor of repealing the regulation. BOOM 🧨💥

What was the IRS trying to do?

🔎 They wanted DeFi platforms to report who’s buying, selling, and trading. Just like CEXs.

⁉️ This meant, DeFi = Centralized Stock Brokers

😡 The degens were having none of it! Said it would kill motivation and force platforms offshore.

Now what?

👍 The House of Representatives needs to give it the thumbs-up next.

🖊️ If they do, the bill goes to Trump’s desk, and word on the street is he’s ready to sign it.

If the repeal sticks, it’ll be a big W for DeFi and privacy-focused crypto users.

AVAX just hit 350k unique active wallets – the highest in a year. 

That’s 3x the local average, and guess what’s fueling it? Memecoin presales.

$KET, $WINK, $BLUB – these names sound not so cool, but degens are aping in hard. The liquidity surge is real.

Presales = high risk, high reward. Some of these might be moon tickets, others will be rug-pull masterclasses. Play smart. 🎢

The numbers don’t lie: Solana’s economic value, app revenue, and DEX volumes all took a -50%+ hit last month.

Yeah, the market is cooling… but memecoins?

They never sleep despite the downturn of Pump.fun it’s surprising to see such memecoin stats

Alexis Ohanian, aka Mr. Reddit, wants to buy TikTok U.S. and put it on-chain using the Frequency blockchain.

If this happens, it’s a game-changer for Web3 social media. 

Imagine owning your TikTok content and getting paid for it—no middlemen, no shadow bans.

If this move gains traction, Web3 social could finally go mainstream. Keep an eye on Ohanian’s next steps. 🕹️

Bybit's CEO Ben Zhou confirmed that $280M of the stolen funds have “gone dark”—mixed, laundered, or sent to obscure platforms. 

20% of the total hacked amount has no track!

The hackers, allegedly linked to North Korea’s Lazarus Group, stole 500K ETH (~$1.4B) last month.

🔷 83% of the stolen ETH (~$1B) has been converted into BTC, spread across 6,954 wallets (averaging 1.71 BTC each).

🔷 Only 3% of the stolen funds have been frozen—the rest are still on the move.

🔷 This week is critical, as funds might start clearing through exchanges and OTC desks.

Bybit isn’t sitting still. They’ve paid over $2.1M in bounties and launched a $140M bounty program to track down the hackers. 

Safe wallet infrastructure was the attack vector, making this one of the biggest crypto hacks ever.

SEC dropping investigations like hot potatoes 🎉

The SEC has dropped investigations into Yuga Labs & Kraken, signaling a shift in regulatory pressure. 

Meanwhile, the agency is offering employees $50K to resign amid budget cuts.

On the investor side, Alexis Ohanian’s crypto bets keep paying off—from buying 50,000 ETH at $0.30 in 2014 to funding blockchain startups through Seven Seven Six. 

Oh, and he even bought Serena Williams’ $3M engagement ring with crypto! 💎🚀

The International Monetary Fund (IMF) is laying down the law in its $1.4 billion deal with El Salvador, telling the country to chill on the Bitcoin buys – at least when it comes to public funds.

They've made it clear: "no voluntary accumulation of BTC by the public sector in El Salvador."

El Salvador's government is also barred from issuing debt or tokenized instruments linked to Bitcoin.

Despite the IMF's position, President Nayib Bukele remains bullish on Bitcoin, continuing to add to the country's crypto stash.

Crypto is confusing? 

The newly launched National Cryptocurrency Association (NCA) thinks so – and it's here to help.

Fueled by a $50M grant from Ripple, the non-profit is rolling out a consumer education platform packed with "how-to" guides, real-life stories to help Americans actually understand crypto.

Despite Ripple footing the bill, the NCA swears it's not just a corporate mouthpiece and is all about neutral, independent education (no lobbying, no hype). 

Next up? A massive survey drop with insights from 10,000 U.S. crypto holders later this month.

Market is still in extreme fear range and is super volatile, there are huge opportunities as well as risks

Stay sharp, manage your risk, and don’t let FOMO take the wheel.

Catch you in the next Degen Digest. Stay safe, stay degen, and don’t get rekt. 🚀🔥

– Your degen for the day 🥷