Category: Cryptocurrency News

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Donald Trump new cryptocurrency initiative, World Liberty Financial (WLF), has encountered significant challenges since its launch. According to a report by CNBC, the project aims to establish a crypto bank and was expected to attract considerable investor interest. However, the token sale, which began on Tuesday, was marred by website outages and technical issues, severely limiting participation. Trump Crypto Venture Faces Setbacks Zachary Folkman, co-founder of WLF, had previously indicated that over 100,000 individuals were on the whitelist for the investment opportunity. Despite this promising start, the reality was starkly different.  Related Reading: XRP Price Growth: Analyst Breaks Down The Movements And Why It’s So As of Tuesday afternoon, blockchain data from Etherscan revealed that only about 4,300 unique wallet addresses held the WLF token, amounting to roughly 4% of the registered investors. The platform reported selling more than 532 million tokens at a price of 15 cents each, which represents less than 3% of the total 20 billion tokens available for public sale.  Throughout the day, users faced consistent disruptions, with the website often displaying a message stating, “We are under maintenance.” WLF has yet to provide an official comment regarding these technical difficulties. These setbacks come at a crucial time for Trump, who is the Republican presidential nominee and has heavily promoted the project since August under the branding “The DeFiant Ones,” a nod to decentralized finance (DeFi).  The project’s roadmap indicates an ambitious goal of raising up to $300 million at a $1.5 billion valuation during the initial sale. Investors To Receive Voting Rights On WLF Platform Folkman, who has a varied entrepreneurial background, including a previously owned company, Date Hotter Girls, has stated that 20% of WLF’s tokens are allocated to the founding team, which includes members of the Trump family.  The WLF token, WLFI, is structured as a Regulation D offering, allowing it to raise capital without registering as a security with the SEC, provided it meets certain conditions, such as limiting the sale size and restricting participation to accredited investors. So far, details about the project’s functionalities remain sparse.  Related Reading: Worldcoin Gains Upside Momentum: Is A Major Breakout Ahead? Individuals associated with the Trump family project have suggested that the platform will facilitate borrowing, lending, and investing in cryptocurrencies. However, a formal white paper or comprehensive business plan has not been made public, and the primary disclosure has been that investors will receive voting rights on the forthcoming WLF platform. In a step toward legitimacy, WLF has also initiated the process of obtaining approval from Aave, a DeFi ecosystem and lending platform known for its open-source framework and reputation in the crypto community. Featured image from DALL-E, chart from TradingView.com

Andre Cronje, co-founder of Sonic and yearn.fi, criticized the growing trend of creating Ethereum Layer 2s designed and tailored for a specific protocol or decentralized finance app (Appchains). Cronje detailed that this approach had many downsides, including the lack of infrastructure, zero possibilities of receiving support, centralization, fragmentation of liquidity, and the lack of a […]

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After the latest $630,000 transfer, the Bitcoin whale has now sent $5.47 million worth of Bitcoin to Kraken in the last two months. 

Samara Asset Group, a Malta-based investment company focused on seeding tech and crypto startups, aims to follow the Microstrategy playbook by announcing a bond whose proceeds will grow its bitcoin portfolio. Co-founded by cryptocurrency proponent Mike Novogratz, the company’s mission is to empower its shareholders “to participate in the performance of their strategies and disruptive […]

As Bitcoin continues its journey toward recovery, recent market activity has revealed an interesting shift in investor behaviour. According to a CryptoQuant analyst known as caueconomy, institutional investors are quietly accumulating Bitcoin as retail traders reduce their positions. This observation was shared in a post on the CryptoQuant QuickTake platform, highlighting a growing trend where whales—large investors—are buying up Bitcoin from smaller, more “impatient investors.” Related Reading: Bitcoin Stochastic Breakout Puts BTC Price Above $500,000, Here’s When Retail Traders Exit While Whales Accumulate The analyst explained in the post disclosing that, in the past 30 days, institutional wallets, excluding miners and exchanges, have amassed over 67,000 BTC, bringing their total holdings to more than 3.9 million BTC. This level of accumulation is mirrored in the order books, where intense buying pressure has been seen on major exchanges such as Coinbase and Bitfinex, while Binance and Bybit, on the other hand, continue to see predominantly short positions. caueconomy mentioned that this development between large and small investors is playing a crucial role in shaping Bitcoin’s current price action. Notably, this trend of whale accumulation and retail sell-off isn’t new, but it highlights a significant shift in market sentiment. According to caueconomy, many smaller investors have been selling off their Bitcoin holdings due to the prolonged sideways movement of the asset’s price. These retail traders, often more reactive to short-term price fluctuations, have shown signs of impatience, reducing their positions as Bitcoin’s price failed to make any decisive moves in recent weeks. Meanwhile, institutional investors are taking advantage of this period of low retail interest by steadily accumulating more Bitcoin. The CryptoQuant analyst noted that this is a typical pattern in which larger investors build their positions during times of market uncertainty. Retail traders, on the other hand, often re-enter the market when sentiment improves, leading to a price increase. By this point, institutional investors may already have secured significant positions, allowing them to benefit from the upward trend when retail investors return to the market. Bullish Signal For Bitcoin Market? It is worth noting that the accumulation by institutional investors could be a sign of future price action. As whales continue to buy up Bitcoin, retail selling pressure may soon exhaust itself, potentially creating an environment where prices begin to rise again. According to caueconomy, once sentiment improves and retail investors seek to re-enter the market, they will likely face higher prices, benefiting those who have already built up their positions. Related Reading: Bitcoin’s Path To $80,000 “Melt-Up” In Q4 2024 – Details Inside The analyst concluded by stating that institutional investors are preparing for this sentiment shift, positioning themselves to distribute their holdings during the next price increase. This process is often cyclical, with large players accumulating during periods of low confidence and distributing when the market becomes more bullish. Featured image created with DALL-E, Chart from TradingView

John Deaton, a Republican candidate for a Massachusetts US Senate seat, slammed incumbent Senator Elizabeth Warren in their first debate for building an “anti-crypto army.”

Bitcoin’s market share neared 60%, hitting its highest level since April 2021, while altcoins saw muted gains in the last 24 hours.

On Tuesday, former President Donald Trump announced on X that the “World Liberty Financial token sale is now live.” He added that “crypto is the future” and urged everyone to adopt “this incredible technology.” At the moment, the price for one WLFI token stands at $0.015, and as of 8:36 p.m. Eastern Time, a total […]