Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Nayib Bukele's Party Wins Supermajority Amid Controversies: New Ideas, led by President Nayib Bukele, secures a supermajority in El Salvador's legislature with 54 out of 60 seats. Opposition groups allege voter fraud, citing anomalies in the electoral process.

2. StarkWare Adjusts STRK Token Unlock Schedule: StarkWare modifies its token unlock schedule for Starknet (STRK) tokens after community feedback. The revised plan implements a more gradual release of tokens over three years to address concerns of potential dumping by early investors and ensure fair distribution.

3. FTX Approved to Sell $1B Stake in AI Startup Anthropic: FTX receives approval to proceed with selling its 8% stake in AI startup Anthropic, potentially fetching over $1 billion. The move is part of FTX's efforts to repay creditors following its collapse, contributing to covering customer and creditor claims.

4. Pixels Reaches $2.7B Valuation After Migration to Ronin: Pixel, a Web3 game, surges in value to $2.7 billion following its token listing on Binance and migration to the Ronin blockchain. The project witnesses increased user engagement and wallet interactions, reflecting strong investor interest.

5.  💡Feature of the Day - Blueberry Halts Lending Amid Mystery Exploit: Blueberry, a DeFi protocol, pauses lending operations after discovering an ongoing exploit. Users are urged to withdraw funds immediately, and the protocol works to mitigate potential damage and safeguard deposited funds.
   
   All this and more in today’s headlines!

📰 News Highlights:

🗳️ Nayib Bukele's Party Secures Supermajority Amid Allegations of Voter Fraud [Source][Source][Source]

New Ideas, the ruling party led by El Salvador's President Nayib Bukele, has clinched a supermajority in the country's legislature, winning 54 out of 60 seats in the Feb. 4 elections. Despite opposition allegations of voter fraud and manipulation, the results have given Bukele significant political leverage to advance his agenda.

While Bukele claimed victory with 58 seats before official results were released, opposition groups, including Vamos, Nuestro Tiempo, and the Nationalist Republican Alliance, have raised concerns, citing 69 "anomalies" in the electoral process. The Farabundo Marti National Liberation Front party echoed these allegations.

Bukele, known for his pro-Bitcoin stance, has faced criticism for his authoritarian leadership style, with reports of human rights violations and mass detentions since 2022.

Despite resigning from office in December 2023 to focus on his reelection campaign, Bukele remains a controversial figure, set to speak at the Conservative Political Action Conference in Washington DC alongside far-right members of the Republican Party and former President Donald Trump.

🔄 StarkWare Adjusts STRK Token Unlock Schedule Following Controversy [Source][Source][Source]

StarkWare, the developer behind Starknet (STRK) tokens, has modified its token unlock schedule in response to community feedback and concerns over potential dumping by early investors.

The revised plan implements a more gradual release of tokens over three years, with smaller periodic drops replacing the original two-month timeline.

The adjustment comes after criticism that the initial schedule, which saw a large portion of tokens set for release just two months after launch, could disadvantage retail investors.

Despite initial market volatility, with STRK dropping nearly 60% shortly after launch, the revised unlock schedule has brought some stability.

💰 FTX Approved to Sell $1B Stake in AI Startup Anthropic [Source][Source][Source]

FTX, the crypto exchange, has received approval from a U.S. bankruptcy judge to proceed with the sale of its 8% stake in AI startup Anthropic.

The move is part of FTX's efforts to repay creditors following its collapse, with the stake potentially fetching over $1 billion based on Anthropic's latest valuation.

The decision comes after a hearing where creditors raised concerns over their rights and the sale process. Ultimately, the judge deemed the proposed sale appropriate, providing a path for FTX to liquidate its holdings and expedite the reimbursement process for creditors.

The sale of FTX's stake in Anthropic represents a significant step in the exchange's restructuring efforts, with the proceeds expected to contribute to covering customer and creditor claims in full.

🎮 Pixels Reaches $2.7B Valuation After Migration to Ronin [Source][Source][Source]

Pixel, a Web3 game, has surged in value to approximately $2.7 billion following its token listing on Binance and migration to the Ronin blockchain. The project, known for its laid-back adventure gameplay and active user community, has witnessed a substantial increase in daily active users and wallet interactions.

The PIXEL token's listing on Binance saw a remarkable 1,246% gain from its launch price, reflecting strong investor interest in the project. With over 531,850 wallets interacting with the game, Pixel continues to attract users and drive engagement on the Ronin blockchain.

Despite challenges, including a previous hack and subsequent recovery, Ronin's resilience and growing ecosystem bode well for Pixel and other Web3 games looking to integrate with the platform.

💡 Feature of the Day: 

🔒 Blueberry Halts Lending Amid Mystery Exploit [Source][Source]

Blueberry, a decentralized finance protocol, has temporarily paused its lending operations following the discovery of an ongoing exploit.

The protocol urged users to withdraw funds immediately, working swiftly to mitigate potential damage and safeguard deposited funds.

Despite initial challenges, including website downtime and withdrawal issues, Blueberry managed to pause its protocol and secure most of the drained funds. The team remains committed to resolving the situation and ensuring the safety of user assets.

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😂 Crypto Meme of the Day: 

And that’s it for this today.

With all of the recent hacks taking place, remember to protect your crypto assets with today’s sponsor Trezor hardware wallets.

See you all next week!

Jonathan Gibson
UseTheBitcoin.com