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

January 24 — Per GMGN monitoring, the market cap of Solana-based meme coin PENGUIN briefly topped $80 million, currently sitting at $78 million. Its current price is approximately $0.078 per token, with a 24-hour gain of 550%. This latest surge may stem from a tweet from the official White House X account stating, “Embrace the Penguin.” Subsequently, Solana co-founder Toly retweeted the post and engaged with it, sparking a sharp spike in interest in the Solana-based meme coin of the same name. Later that day at 11 a.m., a16z co-founder Marc Andreessen jumped into the conversation with a tweet. At 6 p.m. the same day, Binance Alpha added PENGUIN to its list, giving the token’s price another lift. BlockBeats notes that meme coins are extremely volatile, relying heavily on market sentiment and hype with no inherent value or practical use case. Investors are advised to exercise caution due to these risks.

On January 24, per CertiK monitoring, the Saga attacker has begun moving roughly $6.2 million in stolen funds. All stolen assets were first split across five wallet addresses before being transferred to Tornado Cash. Earlier reports noted that following a $7 million attack loss, Saga paused on-chain operations—sending its stablecoin plummeting to $0.75.

January 24 — Blockchain developer R3 said it plans to reposition as a Solana-based tokenization and on-chain capital markets firm, focusing on high-yield institutional assets like private credit and trade finance. The company will package these assets into a DeFi-native structure built to bring Wall Street-grade assets on-chain and scale the movement of off-chain capital to on-chain markets. Notably, R3 currently supports over $100 billion in assets via its Corda blockchain platform. Its partners include HSBC, Bank of America, Banco Bilbao Vizcaya Argentaria (BBVA), the Monetary Authority of Singapore, Swiss National Bank, European Central Bank, SDX, and SBI.

Jan 24 – Markets saw the Trump “TACO” trade reemerge this week. Escalating tensions over Greenland triggered a 1%-3% drop in global equities, but U.S. stocks rebounded to near record highs after Trump “backed off.” Precious metals hit new milestones: silver topped $100, while gold is just shy of $5,000. Looking ahead, volatility is set to persist next week. Weekend anxiety over Iran and a broadly tense atmosphere are heating up markets—especially with the FOMC meeting approaching and Trump poised to announce his pick for the next Fed chair. Here are key market focuses for the week (all Beijing time): - Thu 03:00: Fed FOMC interest rate decision (prior: 3.75%; forecast: 3.75%) - Thu 03:30: Powell’s monetary policy press conference - Thu 21:30: U.S. initial jobless claims (week ending Jan 24, in thousands) - Fri 21:30: U.S. December PPI (year-over-year) - Sat 02:30: 2028 FOMC voter & St. Louis Fed President Musallem speaks on U.S. economy/monetary policy ### Notes on

On January 24, NFT trading platform Nifty Gateway announced it will officially shut down on February 23, 2026. Effective immediately, the platform has switched to withdrawal-only mode. Founded in 2020, Nifty Gateway set out to innovate the digital art space. Since launch, the platform has backed the release of dozens of innovative works, delivering a fresh creative and showcase experience for creators. Users with remaining USD, ETH balances, or NFTs on the platform will get asset migration instructions via email to withdraw their holdings from Nifty Gateway.

On January 24, Coinglass data shows Coinbase’s Bitcoin Premium Index has been in negative territory for 9 straight days, with the negative premium widening to -0.1399%. Over the past 30 days, the index has held negative for 28 days. BlockBeats Note: The Coinbase Bitcoin Premium Index measures the gap between Bitcoin’s price on Coinbase (a leading U.S. exchange) and the global market average. It’s a key indicator to track U.S. market fund inflows, institutional investment appetite, and shifts in market sentiment. A positive reading means Coinbase’s Bitcoin price trades above the global average, typically signaling: robust U.S. market buying pressure, active inflows of institutional/regulated funds, ample USD liquidity, and broadly optimistic investor sentiment. A negative reading means Coinbase’s Bitcoin price trades below the global average, typically reflecting: heavy U.S. market selling pressure, reduced investor risk appetite, a pickup in market risk aversion, or capital outflows