Crypto Pericles

The Open Network (TON) is a scalable Layer-1 blockchain, originally developed by Telegram's founders Pavel and Nikolai Durov as the Telegram Open Network. After a 2019 SEC lawsuit halted Telegram's involvement in 2020, the community took over the open-source project. It rebranded to The Open Network, with Toncoin (TON) as the native token governed by the independent TON Foundation, a non profit driving development, grants, and ecosystem growth.
🔴UAE Golden Visa fiasco (July 2025): Announced staking $100K+ in TON (plus fees) for a 10 year UAE residency visa, sparking a pump, UAE authorities denied any partnership, forcing a retraction. Critics, including CZ, called it misleading hype damaging trust and the industry, led to price crash and marketing leadership changes.
🔴Killing the Resistance narrative with stupid and hostile decisions against the community and the primordial memes. An act that created friction between chain leaders and investors.
🔴Intern branding scandal (2025): An intern misused official TON branding to promote a personal meme token on   Pump.fun, misleading users into thinking it was endorsed, exposed governance/oversight failures, resulting in termination and more reputational harm.
🔴Persistent scams in Telegram bots/games, spam dilution, and earlier cybercrime associations further eroded confidence
And more on a later article...
As of February 24, 2026, Toncoin trades around $1.32–$1.34, down sharply from its all-time high of $8.25 in June 2024.
Without these self-inflicted 2025 blunders, especially the visa pump & dump perception and branding lapses, TON might have maintained stronger momentum from Telegram growth, mini-app adoption, and bull market phases. Avoiding trust eroding corrections could have pushed it to test $12–$15 (or higher in peaks), sustaining closer to its 2024 ATH trajectory with steadier utility driven gains!
$TON #TON #Telegram

On February 23, 2026, Todd Snyder, the bankruptcy administrator for Terraform Labs, filed an 83-page lawsuit in Manhattan federal court against Jane Street Group, co-founder Robert Granieri, and employees Bryce Pratt and Michael Huang (or Hwang).The suit accuses Jane Street of insider trading, front-running, market manipulation, and misusing non-public information to profit from and accelerate the May 2022 collapse of TerraUSD (UST) and LUNA, which erased about $40 billion in value!
Key Factors and Timeline (May 7, 2022):
Terraform quietly withdrew $150 million in UST from Curve's 3pool (a major liquidity pool).Minutes later (9 minutes), a wallet linked to Jane Street dumped $85 million in UST in one massive trade, the largest single UST transaction at the time.This intensified selling pressure, triggered panic, accelerated UST's depeg from $1, and sparked the hyperinflationary death spiral in LUNA.
The complaint alleges Jane Street obtained material non public information via back channel ties (including ex-Terraform employee Bryce Pratt) and used it to unwind large UST exposure "mere hours" before the full crash, avoiding major losses and potentially profiting.
Jane Street's Response:
The firm called the claims "desperate" and "baseless," a transparent attempt to extract money. The allegations remain unproven. This suit is part of ongoing efforts to recover funds for creditors in Terraform's bankruptcy (filed 2024, wind-down ongoing).
It revives debate over the Terra crash's causes previously blamed mainly on design flaws and panic selling by alleging sophisticated front running contributed to the speed and severity. Outcomes could take years, with damages uncertain...
#TerraformLabs #LUNA #USDT

Crypto Twitter lit up on Feb 23-24, 2026, after reports claiming Eric Trump deleted several World Liberty Financial ($WLFI) and crypto related posts on X right as the project's USD1 stablecoin briefly depegged (dipping to $0.98 on some exchanges) and WLFI token dropped 8%!
WLFI blamed a "coordinated attack": hacked co-founder accounts, paid influencers spreading FUD, and massive shorts to profit from the chaos. The stablecoin recovered quickly thanks to its 1:1 backing and mint/redeem mechanism, with the team declaring the attack a failure...
Speculation exploded, some called it "sus," predicting a rug pull or insider exposure (tying into upcoming ZachXBT reports). Others shared screenshots claiming "the internet is forever" and accused Trump insiders of bailing.
Eric Trump fired back directly on X: "You were a clown. I’ve been tweeting about Crypto all week. I was the keynote speaker at the @worldlibertyfi conference two days ago. Don’t be a fool." His bio still shouts @WorldLibertyFi, and recent posts promote USD1's growth (e.g., expanding exchanges, real-world use, transparency via proof-of-reserves) plus other crypto news like a Maldives tokenized resort.
The deletions? Likely limited (e.g., a retweet about new Binance pairs), not a full purge, classic crypto FUD amplification during volatility. WLFI pushed forward strong, highlighting resilience in a high profile, politically tied project. Typical degen drama, but the Trump crew stays bullish!
#TRUMP #USD1 $WLFI