SOL falls below the $260 mark

BlockBeats News: On January 20th, according to official sources, Litentry announced a brand upgrade, renaming its token from LIT to HEI and its project to Heima, reflecting its strategic transformation from a decentralized identity to a cross chain abstraction layer. The renaming has been approved by the community through a referendum of 38. The new token HEI will be fully unlocked within 20 months, and its circulation will increase from 66.45 million to 100 million. Among them, 22.1 million ecosystem wallets were allocated, 2.2 million for foundations, 5 million for liquidity pools to be unlocked instantly, and 4.25 million for team shares to maintain the original release plan. LIT tokens will be migrated to the new ERC-20 and BEP-20 contracts in a 1:1 ratio.

According to BlockBeats, on January 20th, Justin Sun announced on his social media platform that TRON DAO will continue to increase its investment in World Liberty Financial, with an additional investment of $45 million, bringing the total investment to $75 million.

BlockBeats News: On January 20th, Forbes published a column commenting on Trump's issuance of meme coins. Forbes stated that Trump's issuance of meme coins may trigger a constitutional crisis. The report states that although the newly nominated SEC chairman may introduce cryptocurrency friendly policies, the basic legal principles remain unchanged, and the personalities and policy preferences of SEC leaders cannot override established securities laws. The Supreme Court's Howe test has been the cornerstone of securities regulation for 75 years, unaffected by individual government and political appointments. Although the enforcement focus of the SEC may change under the new leadership, its legal obligation to apply the Howe Test remains absolutely unchanged. The enduring framework for evaluating investment plans is independent of any chairman's cryptocurrency friendly stance or industry relations. The report points out that the launch of the TRUMP meme coin has exposed a fundamental tension in contemporary American politics. Although Trump positions himself as a supporter of the cryptocurrency industry and promises to make the United States the "global cryptocurrency capital," the structure and timing of his own digital token project indicate concerns about the fusion of his personal wealth and political power. The concentration of token ownership in companies associated with Trump, coupled with its issuance just before the inauguration ceremony, has raised questions about whether this represents genuine support for cryptocurrency innovation or just a clever attempt to further monetize the presidency.

Odaily Planet Daily News: Conservative activist and co-founder of the Trump Student Organization, Ryan Fournier, has been heavily criticized by traders for selling half of the supply of Meme coins created to celebrate TikTok's lifting. Last Sunday evening, Fournier stated on X space that after TikTok re launched in the United States on Sunday, he teamed up with Meme coin traders (possibly X user "Asta") to come up with the idea of a TikTok themed Meme coin. According to the accounts of two traders, Asta created the token and sent half to Fournier. The token quickly rose thereafter, with a market value exceeding $90 million at one point. However, when the price began to decline, Fournier admitted to selling his holdings and accumulating additional tokens in addition to the supply he received. Last Sunday evening at 20:28 (UTC time), Fournier confirmed a transaction for its wallet that exchanged 505 million TIKTOK tokens for approximately $700000 worth of SOL. Suddenly, (Asta) sold it, and then I sold it too, so I don't know what happened... I think that guy is a scammer, I think he just cheated me, and I followed him Fournier said. Although Asta's wallet did not display any TIKTOK token sales, Fournier claims that Asta has been purchasing tokens from other accounts. Almost everyone knows that I sent 50% of TIKTOK to Ryan Fournier. This is basically all my supply, I just want to launch a cool campaign, "Asta posted on X about five minutes before the sales transaction. Then, 10 minutes later, they posted again: "Just after I posted, he sold all his supplies. I don't know what to say anymore Fournier denies profiting from the sale of X space and repeatedly insists that he was deceived by the token creator, claiming that his profits were "almost negative" after buying and selling tokens. Fournier and Asta did not immediately respond to requests for comment. （The Block）

On January 20th, according to The Block, Ryan Fournier, co-founder of Students for Trump, admitted to selling 50% of his TIKTOK token supply at X Space, causing the project's market value to plummet from $90 million to $5 million. On chain data shows that Fournier exchanged 505 million TIKTOK tokens for approximately $700000 SOL at 20:28 UTC. Fournier claimed to have been deceived by the token founder Asta, but promised to compensate investors with $50000. Previously, Fournier was publicly refuted by Eric Trump for spreading false information about Trump's involvement in RTR tokens.