Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

On February 18, the Associated Press reported that the Trump administration has officially sided with prediction market operators Kalshi and Polymarket in their federal legal fight against state governments seeking to ban the platforms. Newly appointed U.S. Commodity Futures Trading Commission (CFTC) Chair Michael Selig wrote in a Wall Street Journal op-ed that the CFTC "will no longer stand idly by" and let state governments undermine the agency’s exclusive jurisdiction over these markets. He added in a video message: "We’ll see you in court." Lawsuits in states including Nevada have alleged Kalshi and Polymarket are effectively unlicensed sports betting operations, violating state laws. Selig, however, argues prediction market operations are no different from other futures contracts and fall under federal regulation. Notably, former President Donald Trump’s son Donald Trump Jr. has invested in Polymarket through his venture capital firm and serves as a strategic advisor to K

**Elemental Royalty to Offer Dividends in Tether’s XAUT Gold Stablecoin** Colorado mining royalty firm Elemental Royalty announced Tuesday (Feb. 18) it will let investors receive dividends in Tether-issued gold stablecoin XAUT, per an Associated Press report. The industry views the move as the first practical use of tokenized gold in traditional corporate finance. Elemental plans to distribute a total 12 cents per share in dividends via multiple quarterly installments. Investors may still opt for traditional cash dividends, but CEO David Cole said, “Offering dividends in Tether Gold physical tokens further underscores Elemental’s standing as a forward-thinking investment company.” Tether CEO Paolo Ardoino noted the announcement marks a major milestone for the gold sector, showing how tokenized assets can unlock previously inaccessible new financial models. At press time, XAUT has a market capitalization of roughly $2.2 billion. Amid ongoing gold price increases, the token h

February 18: Bitget market data shows U.S. stocks closed higher on Tuesday, with all three major indices posting gains. The Dow Jones Industrial Average rose 0.07%, the S&P 500 added 0.1%, and the Nasdaq Composite climbed 0.14%. Crypto-related stocks had mixed performance: - Coinbase (COIN): +1.03% - Circle (CRCL): +2.63% - MicroStrategy (MSTR): -3.89% - Gemini (GEMI): -12.9% - Bit Digital (BTBT): -2.84% - SharpLink Gaming (SBET): -2.77% - Bit Mining (BMNR): -3.86% - ETHZilla (ETHZ): +0.86% - ALT5 Sigma (ALTS): -4.03% - American Bitcoin (ABTC): -3.54% - Kindly MD (NAKA): -7.83% - Solana Co (HSDT): -8.6%

On February 18, Onchain Lens monitoring indicates the TRUMP team’s allocation wallet transferred 9.089 million TRUMP tokens (valued at $31.45 million) to a BitGo custody wallet.

February 18 — Consensys co-founder/CEO and Ethereum co-founder Joseph Lubin shared his take on the crypto market’s current state and future trajectory in a recent Bloomberg interview in Hong Kong. Lubin remains cautiously optimistic and forward-focused, stressing the digital asset economy is evolving driven by functional utility, not just speculation. On Bitcoin, Lubin said it shouldn’t be considered a traditional safe-haven asset right now. He framed the broader crypto space as still a “startup ecosystem,” arguing positioning Bitcoin as a secure store of value amid ongoing development hurdles is premature. By contrast, he noted ETH (Ethereum’s native token) has stronger functional demand. Lubin argued ETH’s utility for decentralized apps (dApps), smart contracts, and broader ecosystem activity gives it an edge in real-world adoption over Bitcoin’s core narrative. Lubin stressed Ethereum’s enduring role in the evolving financial infrastructure. He pointed out institutional

On February 18, CNBC reported that Wells Fargo said some U.S. taxpayers may receive larger tax refunds this year than in prior years—funds that could flow into risky assets like stocks and Bitcoin. The bank cited two key drivers: last summer’s “Beautiful Act” includes provisions favorable to 2025 taxpayers, and the IRS did not update its withholding tables last year, so salaried workers are less likely to face unexpected tax bills from prior adjustments. In its latest analyst report, Wells Fargo noted these factors could push a potential $150 billion in market inflows by the end of March, when over 60% of tax refunds are expected to be distributed. The bank’s analysts added this expected liquidity injection would boost Bitcoin and retail-investor-favored stocks like Boeing and Robinhood. “We believe extra savings from tax refunds—especially for high-income consumers—will flow back into the stock market,” Wells Fargo analyst Ohsung Kwon said in the Sunday report. “Increased sav