Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Today in crypto, Libra token founder Hayden Davis claimed memecoin critics are just upset they missed insider deals, defending the controversial practice in a Coffeezilla interview, 12 US states reported holding shares in Michael Saylor’s Strategy, and a Trump administration adviser said the president is meeting regularly with US Federal Reserve Chair Jerome Powell.

Libra founder: Memecoin critics only “bitch” when left out of insider deals

Davis, founder of the controversial Libra (LIBRA) memecoin project, claimed that complaints about memecoin trading stem from investors frustrated over not being part of insider deals.

Davis made the remarks during an interview with YouTube investigator Stephen Findeisen, better known as “Coffeezilla,” where he defended the Libra token’s collapse as a failure rather than a scam.

“The vast majority of people betting on memecoins, especially at the beginning — and I think there’s a separate conversation — like, that is the game for everyone. And people that get mad are the people that aren’t insiders,” Davis said. He added:

“All the bitching on socials is all the people that don’t get into the deals. You’ll never hear them bitch if they’re in the deal.”

Pressed on the ethics of insider advantages in memecoin trading, Davis questioned what alternative path exists. 

“So what do you do then? You don’t launch the project? How do you make money then?” he asked, prompting Coffeezilla to tilt his head in apparent disbelief.

Investigator Coffeezilla documents his discussion with Libra founder Hayden Davis. Source: Coffeezilla

The Libra token initially gained traction after receiving social media backing from Argentine President Javier Milei, whose now-deleted post on X helped propel the token’s market capitalization to over $4 billion before it crashed. At least eight insider wallets linked to the Libra team reportedly cashed out significant funds before the collapse.

12 US states hold $330 million stake in Saylor’s Strategy

Twelve US states have together reported holding $330 million worth of shares in the Bitcoin BTC$95,381

buying firm Strategy (MSTR), formerly MicroStrategy, through their state pension funds or treasury as of the end of 2024.

Bitcoin analyst Julian Fahrer wrote to X on Feb. 17 that retirement funds and treasuries in California, Florida, Wisconsin, and North Carolina have the most Strategy exposure, followed by Wisconsin, New Jersey, Texas, Arizona, Colorado, Louisiana, Maryland, Utah and Illinois.

US state MSTR holdings. Source: Julian Fahrer

California’s teacher retirement fund has the largest holdings in the Michael Saylor-led firm, with 285,785 shares worth around $83 million at the time of its regulatoryfiling on Feb. 14. 

Strategy is the world’s largest corporate holder of Bitcoin, with 478,740 BTC currently worth around $46 billion, and its shares are seen as a way of gaining exposure to the cryptocurrency by proxy. 

Trump admin adviser now regularly meeting with Jerome Powell

Kevin Hassett, the director of the National Economic Council — a White House advisory board to President Trump — said he is now meeting regularly with Federal Reserve chairman Jerome Powell to discuss interest rates.

President Trump previously said that he wants rates to drop to spur the United States economy and lower the federal government’s annual interest payments on the $36 trillion national debt.

Federal Reserve chairman Jerome Powell testifying to the Senate Banking Committee on Feb. 11, 2025. Source: Senate Banking Committee

Chairman Powell recently told the Senate Banking Committee that the central bank does not need to rush to cut interest rates — much to the chagrin of investors hoping for a lower rate environment in 2025.

Low interest rates are a positive catalyst for crypto prices as access to cheap credit encourages investors to borrow money and buy assets, thus propping up market prices.