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

March 7th — Per the latest disclosure from the UK’s Electoral Commission, London-based investor Christopher Harborne has made an additional donation to the UK Reform Party. Harborne is estimated to own a 12% stake in Tether, the world’s largest stablecoin issuer. Disclosure documents show that after a ￡9 million donation he disclosed last year, Harborne gave another ￡3 million in November 2023. Led by Nigel Farage, the Reform Party has made digital assets a core part of its economic agenda, promising to turn the UK into a top global hub for digital assets and proposing to cut the capital gains tax on cryptocurrencies from the current ~18% to 10%. In 2025, the Reform Party became the first UK political party to accept digital asset donations, letting supporters donate via cryptocurrencies like Bitcoin. This step has sparked concerns among some UK lawmakers. This past January, seven committee chairs called on the UK government to ban political donations in cryptocurrencies, arguing

**March 7 – Kristin Smith, President of the Solana Policy Institute, recently commented on the legislative progress of the *Clarity Act*.** Smith noted that while the bill has faced pushback—including Coinbase CEO Brian Armstrong’s withdrawal of support and banking industry controversies—its complexity has ensured the legislative process will be long-term. Current negotiations feature two key new developments: first, direct White House involvement, with presidential aides like David Sacks pushing for dispute resolution; second, traditional financial institutions joining talks for the first time. If the Senate Banking Committee completes its review in March or April, the legislation could advance before the July recess; otherwise, the next window likely delays until fall. A former head of the Blockchain Association who helped pass the *Genius Act*, Smith argued that despite opposition from Elizabeth Warren and others, support from key Democrats like Chuck Schumer and ongoing press

March 7th — Per on-chain data from analyst Yu Jin, whale address 0x65b4 once again bought the ETH dip 10 hours ago, spending $12.5 million in USDC to purchase 6,228 ETH at an average price of $2,007. This address previously bought the dip in ETH and BTC following last year’s October 11 market crash, spending $32.58 million in USDC — only to sell at a loss in November, incurring an $830,000 USDC loss.

On March 7th, on-chain data analyst Yu Jin noted that ParaFi Capital withdrew 70 million staked SKY tokens 4 hours earlier—valued at roughly $5 million.

Coinbase’s institutional service platform will integrate with CFTC-regulated futures broker Coinbase Financial Markets on March 7 to offer 24/7 trading of over 20 futures contracts, the company announced. It will also launch “perpetual” futures via Coinbase Derivatives—expanding its perpetual contracts lineup following crypto-native exchanges’ push into the derivatives market late last year. Derivatives typically make up 70% to 75% of total crypto trading volume. The move comes as Coinbase ramps up its OTC brokerage services, aiming to become a one-stop institutional provider covering custody, risk management, financing, lending, and trade execution. Last year, Coinbase began branding itself a “universal exchange,” announcing plans to expand into mature markets like stock trading and emerging areas such as tokenization and prediction markets. Last month, the exchange rolled out stock trading services nationwide. Competitors including FalconX, Bitgo, and DCG have spent years devel

On March 7, Onchain Lens data reveals a whale that had been dormant for a year suddenly became active, staking 8,208 ETH (valued at $16.85 million) with Kiln Finance. The whale accumulated this ETH over four years at a cost of $16.09 million, currently holding just a $768,000 profit.