📢 Beware of this FLOKI inspired altcoin: Top crypto news analysis.

Hi, friend!

Vanessa from buidlbee here! The Web3 community that wants to see you win and fulfill your crypto dreams no matter what! With the juicy run-down I have for you today, you'll be well on your way in no time.

Let's get into it...

• Something's dogey about Baby Floki Billionaire 🤔

• MATIC is doing better than ever 🚀

• CZ speaks on the SEC troubles with BUSD 🧐

It seems like the crypto industry has a thing for father-son duos. Just like Doge and Baby Doge, Floki Inu also has a son — Baby Floki Billionaire (BabyFB). In this case, however, the developers of Floki Inu have denied any connection to the meme coin. So what exactly is this token and why has it gone up by more than 600% even though the project is a bust?

BabyFB works on the Binance Smart Chain and was launched in October 2021, four months after daddy Floki. When it comes to community, the pup is lacking. BabyFB has anonymous creators, a non-functioning website, a dormant Telegram channel, and two silent fan pages on Twitter and Reddit. Yet, the asset holds 47,122 wallets.

What's even more suspicious is the fact you apparently cannot trade BabyFB. With a maximum supply of 1Q tokens and no tokens in circulation, users say the project's been a ghost town since 2022, and are actively looking for a way to sell.

BabyFB started the year at $0.000000000014, since then, it's been up by 678.75%, currently trading at ~$0.000000000109. With no reasonable listings and a lack of liquidity, this project has enough red flags to steer any wise investor clear. It's very much giving Half Shiba, but hey, if you're a risk-taker, don't let me hold you back. Do your research and invest at your cost. 🧐

I'm not the easiest person to impress friend, but MATIC is doing too good of a job recently to not talk about. This week has been great for Polygon, and the value of MATIC shows that. Up by more than 9%, in 24 hours, the asset is currently trading at $1.36 with a 7% increase in trading volume to back it up. With all the upcoming news for Polygon, nothing can stop this moving train.

• Cardano wasn't the only one feeling the love on Valentine's day. Polygon also announced the launch date for the zkEVM mainnet beta as March 27th. The Ethereum scaling solution is expected to make transactions faster and cheaper by merging and processing transactions together.

• The third-largest public company by market capitalization in Germany, Siemens, issued its first digital bond worth €60M ($64M) on none other than, Polygon. The bond allows the sale of blockchain-based debt.

• Final Fantasy's Square Enix, announced a partnership with Polygon to create an NFT-based game called Symbiogensis.

• There are also some rumors about a future partnership with LCX Exchange.

• On February 13, MATIC once again became the most used smart contract among the top 100 Ethereum whales.

It's quite obvious Polygon isn't lacking on the partnership front or investors from whales as the launch of zkEVM approaches. The next major support level for MATIC is $1.35, and if the asset manages to break out, the moon might be just the starting point. So, I don't know about you friend, but if you need me, I'll be busy stacking up on my MATIC coins 🤑

In case you're living under a rock, let me catch you up. The Security and Exchange Commission (SEC) declared war on crypto and seems to be starting with stablecoins. BUSD has been tagged a security and confusing as that may be, I'm here to provide some much-needed clarity.

Markus Thielen, head of research for Matrixport has helped shed some light on the issue. According to his sources, Paxos Trust (the issuer of BUSD) wasn’t strict enough in monitoring its stablecoin and may have violated obligations to periodically assess risks, as well as, due diligence on Binance’s exchange customers.

He also pointed out the issuing of $11B worth of BUSD on Ethereum and another $4.8B worth on the Binance Smart Chain. This is the tricky part because, the second BUSD transaction is to be controlled by Binance — a non-US company — which cannot be regulated in any way. So, the New York State Department of Financial Services' (NYDFS) concern is that this $4.8 billion may not be properly collateralized.

Another Matrixport executive stated that regulatory accusations could also be because of Binance's previous "mistake" of storing user funds and assets to guarantee its tokens in the same wallet. Mixing funds of different origins is not just an accountant's worst nightmare but is also a gross violation of banking controls.

So is USDC next? Thielen believes that other stablecoin issuers should not fear attacks from regulators, regardless of the Wells sanctioning rumors spread by Fox Business reporter, Eleanor Terrett, which has now been denied by the director of Circle Pay, Dante Disparte. Markus also added that community members need not fear for the future of BUSD, and this is a minor setback for a major comeback 💪

Moving forward, CZ of Binance, speaking at a recent Twitter Space, said the future of stablecoins will most likely be tied to other fiat currencies, and Binance is already in talks with a potential issuer of Japanese yen stablecoins. The market leader also believes that, though risky, algorithmic stablecoins like Cardano's Djed could become more popular, and stablecoin issuers must learn to disclose detailed information to investors to promote transparency.

Whew, wasn't that a trip? 😅 Don't deny it, I know this letter made you a better-informed investor. So, share all this knowledge with friends, and I'll see you tomorrow with more tips to help you make it with crypto! 🔥