World Liberty Financial – The Shib Daily

WLFI Preps Wallet Reallocations After Phishing Hack, Users Must Complete KYC

Michaela — Fri, 21 Nov 2025 09:32:49 +0000

World Liberty Financial (WLFI), a crypto venture linked to President Donald Trump and his family, has announced that wallet reallocations will soon begin for users who have completed Know Your Customer (KYC) verification, more than 2 months after a pre-launch phishing incident.

“Reallocation will begin shortly for all wallets that completed and satisfied the required verification steps. Wallets for users who haven’t reached out or completed verification will remain frozen — those users can still start the process through our help center,” WLFI wrote in an X thread announcing the reallocation.

5/ Reallocation will begin shortly for all wallets that completed and satisfied the required verification steps.

Wallets for users who haven’t reached out or completed verification will remain frozen — those users can still start the process through our help center.

Thank you…
— WLFI (@worldlibertyfi) November 19, 2025

WLFI shared that before the platform’s launch, a limited number of user wallets were compromised through phishing attacks or exposed seed phrases. The company added that it has since implemented updated smart contract protocols to securely reallocate affected funds and completed identity verification for users through KYC procedures.

WLFI emphasized that the issue did not stem from its platform or smart contracts, but from third-party security breaches that allowed attackers to access user wallets. In September, the company froze the affected wallets and verified ownership to facilitate a secure transition.

Users reporting compromised accounts were required to complete KYC verification before receiving new wallets. Simultaneously, WLFI developed and tested updated smart contract protocols to manage bulk fund reallocations, reinforcing protections for its user base.

“We do not seek to blacklist anyone. We respond when alerted to malicious or high-risk activity that could harm community members. User safety > everything,” WLFI wrote in a previous X post following the wallet blacklisting.

4/
We do not seek to blacklist anyone. We respond when alerted to malicious or high-risk activity that could harm community members. User safety > everything.
— WLFI (@worldlibertyfi) September 5, 2025

As WLFI moves forward with the reallocation process, the broader crypto community is watching closely. The situation spotlights the ongoing challenges that digital asset platforms face in maintaining security while scaling operations.

It also emphasizes the importance of robust user verification and proactive risk management in protecting investors’ funds. For WLFI, successfully completing this reallocation without further issues could help restore confidence among early adopters and set a standard for transparency in high-profile crypto projects. Moving ahead, users and industry observers alike will be evaluating how effectively WLFI balances innovation, security, and trust.

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Senators Demand Probe Into WLFI Over Ties to North Korea and Russia

Michaela — Wed, 19 Nov 2025 07:29:34 +0000

U.S. Senators Elizabeth Warren and Jack Reed are calling on the Department of Justice (DOJ) and the Treasury Department to investigate World Liberty Financial (WLFI), a firm linked to the Trump family, over its alleged connections to illicit actors in North Korea and Russia.

According to a CNBC report, Senators Warren and Reed sent a letter on Tuesday to Attorney General Pamela Bondi and Treasury Secretary Scott Bessent, arguing that World Liberty Financial (WLFI) lacks sufficient safeguards to prevent bad actors from moving funds or exerting influence over its governance.

In their letter, the senators cited a September report from the nonprofit corporate watchdog Accountable.US, which claimed that WLFI had sold its $WLFI tokens to “various highly suspicious entities.”

The “suspicious entities” included traders with ties on the blockchain to a notorious North Korean hacking organization, a sanctioned Russian “ruble-backed sanctions evasion tool,” an Iranian crypto exchange, and Tornado Cash, a known money-laundering platform, the watchdog alleged.

CNBC shared that World Liberty Financial denied any wrongdoing, asserting that there is “no conflict of interest between World Liberty Financial, a private crypto company with zero political power, and the U.S. government.”

A spokesperson for World Liberty Financial told CNBC that the company conducted thorough anti-money laundering (AML) and know-your-customer (KYC) checks on every pre-sale purchaser of the $WLFI governance token, adhering to what they described as the highest industry standards. The spokesperson added that millions of dollars in potential purchases were declined from individuals who did not meet these compliance requirements.

Last month, a group of seven Democratic senators, including Warren and Reed, formally called on Bondi and the DOJ to provide more information about President Donald Trump’s pardon of Binance CEO Changpeng “CZ” Zhao, expressing concerns that the action could signal leniency toward unlawful conduct.

In a public letter, the senators argued that the pardon could be perceived as a warning to cryptocurrency leaders and other corporate figures that legal consequences may not apply. They requested clarification on how Zhao’s pardon might affect the DOJ’s and Attorney General Bondi’s ability to enforce the law. Their inquiry references reported ties between Zhao, Trump, and Binance, including allegations that Binance helped develop the code for WLFI’s stablecoin USD1, potentially generating a multi-million-dollar revenue stream for the Trump family.

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CZ’s Lawyer Blasts “False” Claims Linking Binance, Trump Pardon

Michaela — Mon, 17 Nov 2025 10:19:56 +0000

Teresa Goody Guillén, attorney for Binance founder Changpeng “CZ” Zhao, has rejected claims of corruption tied to President Donald Trump’s pardon of Zhao, describing media reports suggesting pay-to-play arrangements as inaccurate and based on misunderstandings of blockchain technology and crypto business practices.

In a recent interview on the Pomp Podcast, Guillén defended Binance founder Zhao’s pardon, arguing that he faced unusually harsh treatment compared to executives at traditional financial institutions who were charged with similar compliance violations. She emphasized that Zhao is the only CEO to have been prosecuted for these specific offenses, even though major banks have faced equal or more severe charges.

President Trump granted a pardon to Zhao in October, sparking intense scrutiny and criticism from lawmakers who allege that financial connections between the Trump family’s crypto ventures and Binance may have influenced the decision.

Critics argue that the timing and circumstances of the pardon raise concerns about potential conflicts of interest and the integrity of the clemency process. Trump, however, has denied any wrongdoing or knowledge of Zhao prior to granting the pardon, framing the decision as a routine exercise of presidential authority.

Guillén stated that Zhao received the pardon because his prosecution was unwarranted, noting that the case involved no fraud, no victims, and no prior criminal history. She attributed the legal action to what she described as the Biden administration’s “war on crypto,” suggesting that regulators singled out Binance and Zhao as high-profile examples.

Furthermore, Guillén rejected claims that Zhao’s pardon was connected to business interactions between Binance and World Liberty Financial (WLFI), a company linked to the Trump family. She compared the situation to a listing on Craigslist, arguing that just because WLFI launched its USD1 stablecoin on the Binance Smart Chain, it does not imply a personal relationship between the company and Binance’s CEO.

In a recent Fox News interview, Zhao denied any business connections between himself, Binance, and World Liberty Financial. He clarified that he had never met or communicated with President Trump before or after receiving the pardon, and that his only interaction with Eric Trump occurred at the Bitcoin Middle East and North Africa conference in Abu Dhabi, United Arab Emirates.

Zhao also stated that he was unaware of the timing or likelihood of the pardon, noting that his lawyers had submitted the request in April and he had no knowledge of its progress.

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Warren and Slotkin Call for Investigation Into US Officials Over UAE Ties

Michaela — Thu, 25 Sep 2025 11:59:05 +0000

Senators Elizabeth Warren and Elissa Slotkin have called for investigations into three federal oversight officials over potential conflicts of interest linked to Trump administration figures and their involvement with World Liberty Financial (WLF).

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Key points:

Warren and Slotkin are urging federal inspectors general to investigate David Sacks and Steve Witkoff over possible conflicts of interest with the UAE.
The senators allege the two pushed to ease AI export restrictions while hiding financial ties to Sheikh Tahnoon and a $2 billion investment in Trump’s stablecoin.
They warn the technology could boost foreign weapons and stress the need for oversight to prevent crypto-linked corruption from threatening U.S. security

The two lawmakers, in a September 23 letter, called for an investigation into White House AI and Crypto Czar David Sacks and World Liberty Financial co-founder Steve Witkoff over allegations they pushed for the sale of “sensitive national security technology” to the United Arab Emirates (UAE), raising concerns about conflicts of interest and potential ethics violations.

Source: U.S. Senate Banking Committee

“If public reporting is accurate, it appears that Mr. Sacks and Mr. Witkoff, in exchange for personal benefit, may have aided a foreign power’s effort to acquire U.S. technology that could present serious economic and national security risks,” the letter wrote. Warren and Slotkin warned that the technology in question could potentially be used to strengthen foreign weapons systems, posing a threat to U.S. service members.

Additionally, the Senators alleged that Sacks and Witkoff were instrumental in the administration’s move to ease national security restrictions on exporting advanced AI systems to the UAE, a deal they have both publicly defended.

Warren and Slotkin noted, however, that neither has disclosed financial connections to the UAE’s national security advisor, Sheikh Tahnoon bin Zayed Al Nahyan, nor the personal gains tied to the Sheikh’s $2 billion investment in President Trump’s stablecoin, USD1. The lawmakers further revealed that Zach Witkoff, CEO of World Liberty Financial and son of Steve Witkoff, did not step aside from participating in the decisions under scrutiny.

Furthermore, Warren and Slotkin have urged the inspectors general of the Commerce Department, State Department, and the Office of Government Ethics to investigate Sacks and Witkoff. They emphasized the need to ensure that digital assets, including World Liberty Financial’s stablecoin, are not being used to enrich President Trump or senior officials at the expense of the public interest.

“The pattern of these transactions is deeply troubling and reveals that Mr. Witkoff and Mr. Sacks were in positions to control government decisions to personally enrich themselves – even as they created significant national security concerns,” the letter wrote.

The Senators emphasized that the requested investigation carries urgency not only because of its national security implications but also as Congress weighs legislation on digital asset market structure. They argued that oversight is necessary to prevent potential crypto-related corruption from threatening U.S. security.

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Trump Family Crypto Fortune Soars $1.3B After ABTC, WLFI Debuts

Michaela — Mon, 08 Sep 2025 07:43:51 +0000

The Trump family has gained an estimated $1.3 billion in wealth, fueled by the trading debut of American Bitcoin (ABTC) and returns from World Liberty Financial (WLFI), a decentralized finance project tied to them.

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Key points:

The Trump family gained an estimated $1.3 billion from the trading debuts of ABTC and WLFI, with Eric Trump’s ABTC stake valued over $500 million and WLFI contributing $670 million.
ABTC and WLFI experienced significant volatility, with ABTC surging to $14 before dropping over 50% and WLFI falling more than 40% after its launch on September 1.
The family’s crypto involvement has increased attention on the sector, influencing crypto-friendly momentum while also drawing scrutiny over potential conflicts of interest.

According to a report by Bloomberg, WLFI contributed $670 million to the net worth of President Donald Trump’s family. Eric Trump, the president’s son and co-founder of ABTC, saw his stake in ABTC valued at over $500 million following the company’s trading debut on Wednesday.

Using Wednesday’s market prices, shares of ABTC surged to a peak of $14 before dropping more than 50% to $6.24, forming the basis for the $1.3 billion gain in the Trump family’s net worth. This total excludes around $4 billion in WLFI tokens still subject to lock-up restrictions held by the family. Excluding these tokens, the family’s total net worth is estimated at over $7.7 billion, according to the Bloomberg Billionaires Index.

The involvement of the Trump family in the crypto industry has drawn increased attention to the sector and helped shift momentum toward more crypto-friendly policies compared with the previous administration.

At the same time, President Trump’s ties to digital assets have sparked scrutiny from lawmakers and industry observers, with critics suggesting the participation of the Trump family could pose potential conflicts of interest.

On September 1, WLFI launched on major crypto exchanges, experiencing an early surge in trading before the token’s price fell more than 40%.

Following its merger with publicly listed Gryphon Digital Mining, American Bitcoin returned to U.S. stock exchanges on Wednesday. ABTC shares faced intense volatility, triggering five trading halts as the price surged to $14 before dropping to around $7.36 per share.

WLFI is a decentralized finance platform co-founded by Donald Trump Jr. and Eric Trump, designed to combine blockchain technology with financial services through its governance and stablecoin tokens.

ABTC focuses on sustainable and scalable Bitcoin mining, aiming to integrate renewable energy solutions into its operations and position itself as a forward-looking player in the digital asset space.

Both ventures have experienced high volatility since their debuts, reflecting strong market interest while also drawing regulatory and investor scrutiny.

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Justin Sun’s $9M WLFI Wallet Blacklisted After Huge Transfer

Michaela — Fri, 05 Sep 2025 08:04:30 +0000

Justin Sun, founder of the blockchain platform Tron, has seen his World Liberty Financial (WLFI) token address blacklisted after moving 50 million WLFI tokens to the crypto exchange HTX, a development that has sparked concerns about possible trading restrictions.

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Key points:

Justin Sun’s WLFI wallet was blacklisted after transferring 50 million tokens to HTX, raising concerns over trading restrictions.
The blacklisting froze nearly 3 billion WLFI tokens, including 540 million unlocked tokens worth ~$101 million and 2.4 billion staked tokens worth ~$452 million.
Sun criticized the freezing as unfair, urging the WLFI team to respect holders’ rights and warning it could harm investor confidence in the project.

According to data from blockchain explorer Etherscan, Sun’s wallet address was flagged soon after processing a $9 million transfer. After the blacklisting, Sun addressed the issue on X, explaining that the wallet in question had only carried out a few routine exchange deposit tests with minimal amounts before initiating address dispersion. He emphasized that no buying or selling activity took place and insisted the actions could not have “any impact on the market,” according to the translated post.

Source: Justin Sun

The wallet’s blacklisting came shortly after Sun had publicly stated that he had no plans to sell the tokens in the near future. “We have no plans to sell our unlocked tokens anytime soon. The long-term vision here is too powerful, and I’m fully aligned with the mission,” Sun wrote in a September 1 X post.

Excited to share my thoughts on $WLFI — I truly believe this will be one of the biggest and most important projects in crypto.

We have no plans to sell our unlocked tokens anytime soon. The long-term vision here is too powerful, and I’m fully aligned with the mission.…
— H.E. Justin Sun (@justinsuntron) September 1, 2025

Sun’s actions effectively locked up close to 3 billion WLFI tokens, significantly reshaping the asset’s liquidity only days after its debut. Roughly 540 million unlocked tokens, valued at around $101 million, were frozen, alongside 2.4 billion staked tokens worth an estimated $452 million.

In a follow-up post on X, Sun addressed the WLFI team, emphasizing that as an early major investor, his involvement extends beyond financial backing, reflecting both his confidence in and commitment to the project’s long-term success.

To the World Liberty Financials team and the global community,

As one of the early major investors in World Liberty Financials, I have contributed not only capital but also my trust and support for the future of this project. My goal has always been to grow alongside the team…
— H.E. Justin Sun (@justinsuntron) September 5, 2025

“My goal has always been to grow alongside the team and community, and to jointly build a strong and healthy WLF ecosystem,” Sun wrote. “However, during the course of operations, my tokens were unreasonably frozen,” he added.

Sun urged the WLFI team to honor holders’ rights, release his locked tokens, and allow the project to progress beyond the current situation. “I believe that a truly great financial brand must be built on fairness, transparency, and trust—not on unilateral actions that freeze investor assets,” Sun wrote.

The Tron founder added that these actions undermine investors’ legitimate rights and could erode overall confidence in World Liberty Financial.

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Andrew Tate Loses $67K on WLFI Token, Instantly Bets Again

Michaela — Wed, 03 Sep 2025 12:08:29 +0000

Former kickboxer and online entrepreneur Andrew Tate has suffered a $65,000 loss on a leveraged position in the Trump-backed World Liberty International (WLFI) token, then quickly reopened a long position, pushing his cumulative trading losses to $700,000.

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Key points:

Andrew Tate’s WLFI trades were liquidated on Hyperliquid, extending his total losses to nearly $700,000 across 80 trades.
The Trump family’s WLFI holdings surged past $5 billion after a major token unlock, despite earlier pledges to keep their tokens locked.
World Liberty Financial proposed a buyback-and-burn program, using protocol fees to reduce supply and potentially boost WLFI’s long-term value.

On Tuesday, Andrew Tate’s leveraged long position on the WLFI token was liquidated on the decentralized exchange Hyperliquid. Blockchain analytics firm Lookonchain reported that he immediately reopened a position, continuing to bet on the token’s price rebound despite the initial loss.

Andrew Tate(@Cobratate)'s $WLFI long was liquidated for a $67.5K loss 6 hours ago.

But he did not give up and immediately reopened a long position on $WLFI.https://t.co/09Rmkt6BIb pic.twitter.com/MUhAtqT09G
— Lookonchain (@lookonchain) September 2, 2025

Tate’s latest liquidation on Hyperliquid brings his cumulative trading losses to nearly $700,000 across 80 trades, with a win rate of just 36%. The loss followed a rare $16,000 gain from a 3x leveraged short position on Kanye West’s YZY token.

Andrew Tate(@Cobratate) opened a 3x short on $YZY at $0.8524, now sitting on a profit of $16K.

But he doesn't seem to be good at perps trading.

So far, he's made 80 trades on #Hyperliquid — only 29 were profitable (win rate: 36.25%) — with total losses of $699K.… pic.twitter.com/ZvR9QZEVEk
— Lookonchain (@lookonchain) August 22, 2025

The WLFI token had just launched on major exchanges on Monday, ending months of private-only sales, when Tate placed his latest trade. President Donald Trump and his family’s stake in World Liberty Financial’s WLFI token has surged past $5 billion after the token’s recent unlocking. The project also announced plans to direct all protocol fees toward token buybacks and burns, a strategy aimed at reducing supply and potentially boosting long-term value.

World Liberty had previously pledged that the holdings of its founders, including President Trump and his sons Donald Jr., Barron, and Eric, would stay locked. However, after Monday’s token release, the Trump family’s stake is now estimated at around $5 billion, based on WLFI’s current market price.

Soon after unlocking WLFI tokens, World Liberty Financial introduced a governance proposal to establish a buyback-and-burn program. Under the plan, all protocol fees generated from the platform’s liquidity positions on Ethereum, BNB Chain, and Solana would be used to repurchase WLFI from the open market and permanently retire the tokens from circulation.

The unfolding story around World Liberty Financial ties together high-profile figures from politics and pop culture, with the Trump family’s multibillion-dollar WLFI stake coinciding with Tate’s mounting trading losses on the same token. Together, these developments emphasize both the outsized opportunities and steep risks tied to emerging crypto projects, underscoring how quickly fortunes can rise or fall in the digital asset arena.

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Trump Family’s WLFI Stake Hits $5B Amid Token Unlock and Buyback Plan

Michaela — Tue, 02 Sep 2025 12:12:57 +0000

President Donald Trump and his family have seen their holdings in World Liberty Financial’s WLFI token surpass $5 billion following a major token unlock. The project has also proposed using all protocol fees to buy back and burn WLFI tokens, a move intended to reduce supply and potentially increase value for long-term holders.

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Key points:

Trump family’s WLFI holdings surpass $5B after a major token unlock, releasing nearly 25% of total supply for trading.
World Liberty Financial proposes using all protocol fees to buy back and burn WLFI tokens, aiming to reduce supply and benefit long-term holders.
Despite broad support for the buyback plan, some critics, including SwanDesk CEO Jacob King, warn of potential insider “pump-and-dump” activity.

On Monday, President Trump and his family made nearly 25% of the total 100 billion WLFI tokens available for public trading. Prior to the launch, early purchasers were unable to transact their tokens.

World Liberty had initially stated that the holdings of its founders, including President Trump and his sons Donald Jr., Barron, and Eric, would remain locked. Following Monday’s token release, the Trump family’s stake is now valued at roughly $5 billion based on the current WLFI price, according to The Wall Street Journal.

Data from CoinMarketCap shows that WLFI has seen more than $5 billion in trading volume over the past 24 hours. The token is currently valued at $0.25, reflecting an 11.7% increase during the same period.

WLFI Launches Buyback Proposal Amid Insider Concerns

Shortly after the WLFI token unlock, World Liberty Financial published a governance proposal to launch a token buyback and burn program. The plan would direct 100% of protocol fees from the platform’s liquidity positions on Ethereum, BNB Chain, and Solana to repurchase WLFI tokens from the market and permanently remove them from circulation.

“If this proposal is passed, WLFI will treat it as the foundation of an ongoing buyback and burn strategy. Over time, we will explore expanding the program to include additional sources of protocol revenue, with the goal of steadily increasing the scale of WLFI buybacks and burns as the ecosystem grows,” World Liberty Financial wrote in its proposal.

If approved, the program would raise the relative ownership stake of long-term holders and establish a direct connection between platform activity and token scarcity.

The majority of respondents supported the proposal, though some voiced concerns and expressed skepticism about the team behind the project.

Jacob King, CEO of SwanDesk, stated in a post on X that on-chain data indicates insiders are allegedly selling millions of WLFI tokens, describing the activity as a “blatant pump-and-dump scam.”

JUST IN: On-chain data shows insiders are already dumping millions of $WLFI tokens.

This is a blatant pump-and-dump scam launched today, and @EricTrump is shamelessly shilling it to his sheep. pic.twitter.com/MRxEUpsqEe
— Jacob King (@JacobKinge) September 1, 2025

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Trump-Backed World Liberty Financial Set to Unlock 29B Tokens

Michaela — Mon, 01 Sep 2025 14:50:41 +0000

World Liberty Financial (WLFI), a decentralized finance (DeFi) platform supported by President Donald Trump and his family, is set to release 29 billion WLFI tokens at launch, almost a year after its initial governance token sale.

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Key points:

WLFI, a DeFi platform backed by Trump and his family, is set to release 29 billion tokens at launch, over a quarter of its total 100 billion supply.
20% of early presale allocations will become transferable via the project’s Lockbox system, while the remaining 80% will be governed by community voting.
Major exchanges including Binance, OKX, Gate, and MEXC will list WLFI, making it a key test of celebrity-backed crypto influence and market dynamics.

World Liberty Financial (WLFI) will soon officially begin trading on major exchanges, with CoinMarketCap data indicating an initial circulating supply of 29.7 billion tokens, over a quarter of its total 100 billion token allocation.

The WLFI token is set to launch on Monday, September 1, with 20% of early presale allocations becoming transferable via the project’s “Lockbox” claim system. Users have been able to move their WLFI tokens into a vesting lockbox to begin the unlock process since August 25.

The agreement notes that unlocking conditions are flexible and may be modified through future governance decisions or other applicable protocols. Consequently, tokenholders might experience new unlocking frameworks or adjustments to existing release schedules.

Additionally, the remaining 80% of WLFI tokens will be governed by the platform’s community, with future unlocking schedules determined through collective voting.

World Liberty Financial has a maximum supply of 100 billion tokens, with roughly 25% distributed during early presale rounds. Tokens reserved for the platform’s founders, team, and advisors remain locked.

Leading cryptocurrency exchanges, including Binance, OKX, Gate, and MEXC, have confirmed plans to list the WLFI token.

WLFI’s launch could serve as a key test case for how high-profile figures shape market dynamics in the decentralized finance space. Investor sentiment, trading activity, and adoption trends will likely be closely monitored in the coming weeks, providing insight into whether celebrity-backed projects can sustain long-term engagement and influence broader crypto market behavior.

Analysts and market participants will also be watching how WLFI’s governance model and token unlock strategies impact liquidity, community participation, and price stability, potentially setting a precedent for future celebrity-led or high-profile crypto initiatives.

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The Shib News Recap: Monday

Malaya Ruiz — Mon, 16 Dec 2024 23:00:00 +0000

Today’s crypto news cycle is filled with critical regulatory updates, the implications of such for the crypto ecosystem, and Michael Saylor’s reaction to an anti-crypto rhetoric.

Crypto Regulation News

The Financial Accounting Standards Board (FASB) has launched new Fair Value accounting rules for Bitcoin and similar cryptocurrencies. Companies will now need to report their crypto assets at fair value in their financial statements. This adjustment aims to provide a clearer view of profits and losses due to the volatility of cryptocurrency prices. However, the rules exclude certain digital assets like NFTs and wrapped tokens.

In other regulatory news, the Australian Federal Court has fined Bit Trade, a subsidiary of Kraken, $5.1 million AUD for offering an unapproved margin lending product. Bit Trade Pty Ltd introduced a “margin extension” product in October 2021 but failed to obtain the necessary target market determination. More than 1,100 customers incurred over $7 million USD in fees, with total trading losses of more than $5 million USD. This is the first penalty against a cryptocurrency exchange for lacking a TMD.

Vanguard’s Dismissal vs MicroStrategy’s Defense

Vanguard, a major investment firm, remains opposed to Bitcoin and cryptocurrencies, viewing them as speculative and lacking real value. They stated that Bitcoin has no place in long-term investment portfolios due to its speculative risks. Duncan Burns, Vanguard Asia-Pacific’s CIO, described the digital asset sector as weak, noting that while some speculators profit, many others incur losses. Michael Saylor, co-founder of MicroStrategy, criticized Vanguard’s stance, arguing against their dismissal of cryptocurrencies in investment strategies.

World Liberty Financial $250K ONDO Purchase

World Liberty Financial has purchased $250,000 worth of ONDO tokens. They acquired 134,216 Ondo Finance tokens at an average price of $1.83 through Cow Protocol. The project has also invested in $30 million in Ether and $10 million in Coinbase Wrapped BTC. Following this acquisition, the ONDO token increased by over 14% in 24 hours and surged by 28.5% in the past week.

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Trump Can’t Have It All: WLFI Token Takes a Tumble!

Gairika Mitra — Sat, 19 Oct 2024 16:41:27 +0000

Well, well, well! It looks like Donald Trump’s latest venture into the wild world of cryptocurrency, the WLFI token, has hit a bit of a snag — like a bad hair day in a windstorm! The launch aimed to rake in a whopping $300 million by selling 20 billion WLFI tokens. So far, they’ve managed to sell a mere 788 million tokens, bringing in just about $11.8 million — yep, that’s less than 4% of the goal. Talk about a financial flop!

According to blockchain data from Etherscan, around 9,050 unique wallet addresses currently hold WLFI. That’s only about 9% of the 100,000 wallets they had planned to lure in. It seems like a lot of folks decided to sit this one out — perhaps they were too busy looking for that golden hair of Trump’s?

The grand sale kicked off on Tuesday with Trump giving it a shout-out in a promotional video on X. But, surprise, surprise! The site couldn’t handle the pressure and kept crashing like a bad reality TV show!

WLFI a Token for the Elite: Where Trump Gets the Big Slice, and You Get the Crumbs

Now, here’s the kicker: WLFI is a Regulation D token offering, which means only the wealthy elite can jump on this train. If your net worth isn’t over $1 million, sorry, buddy — you’re left watching from the sidelines while the rich kids play. Retail investors, who usually spice things up, have been left in the dust.

World Liberty Financial is pitching WLFI as a governance token, letting holders vote on the platform’s future. But here’s the catch — there’s no actual platform up and running yet, so good luck voting on… well, nothing! It’s like having a vote for “best non-existent sandwich.” The team did file for approval with the crypto lending platform Aave, but we all know how slow those approvals can be!

After facing a harsh reality check, the WLFI team had to make some changes. They’ve now cut the percentage of tokens available to the public from 63% to just 35%. And, guess what? Now they say those shiny tokens might not be transferable for an indefinite period, despite earlier promises of a 12-month waiting period. What a plot twist!

And let’s not forget — Trump is still set to receive a whopping 22.5 billion WLFI tokens, more than what’s available for the rest of us! All that, along with hefty fees for his star power. Sounds like he’s got the best seat in the house!

So, while Trump may have the bling and the branding, it seems WLFI is stuck in a bit of a crypto conundrum. Who knew that the “Art of the Deal” could sometimes mean “Oops, we didn’t see that coming!”? Keep your wallets close, folks; this token ride may be more of a roller coaster than a smooth cruise!

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Trump Crypto Project Reportedly Secures 100K Signups Before Major Token Launch

Lawrence Damilola — Tue, 15 Oct 2024 12:30:38 +0000

World Liberty Financial (WLFI), the decentralized finance (DeFi) platform associated with Donald Trump, claims to have secured more than 100,000 signups ahead of its WLFI token launch today.

The platform revealed it will release an Ethereum-based ERC-20 governance token, which will be integral to the platform’s operations. The token will serve as a governance tool, allowing holders to participate in decision-making.

Zak Folkman, head of operations for World Liberty Financial, discussed details of the token during an X Spaces event yesterday. Folkman and team members Chase Herro and Zach Witkoff reiterated information already provided in a blog post last Friday.

The platform will enable users to borrow, lend, and transact with stablecoins, and also interact with liquidity pools. In the U.S., access will be restricted to accredited investors who meet certain financial requirements as set by the Securities and Exchange Commission (SEC), including earning over $200,000 annually or having assets exceeding $1 million.

WLFI Tokenomics Allocate 63% for Public Sale and 17% for Rewards

The WLFI tokenomics reveal that 63% of the tokens will be sold to whitelisted members of the public at the time of the launch, while 17% will be reserved for user rewards and 20% allocated to the project team.

According to a leaked white paper, the tokens will be nontransferable for 12 months, though they will be usable for governance votes immediately. The project aims to raise $300 million through the sale of tokens, with an estimated valuation of approximately $1.5 billion.

During the X Spaces event, it was also announced that Paxos co-founder Rich Teo would join the team, focusing on stablecoins and payment solutions. This addition to the team is expected to strengthen the platform’s offering in the DeFi space.

Partnership with Aave for DeFi Lending

World Liberty Financial will initially launch as a DeFi lending platform using Aave’s decentralized borrowing and lending technology. Aave founder and CEO Stani Kulechov made a brief appearance during the October 14 event, expressing his approval of World Liberty Financial’s decision to integrate with Aave’s platform. The team also confirmed plans to expand the platform to Ethereum layer-2 network Scroll in the future.

Donald Trump Jr., listed as the platform’s “Web3 Ambassador,” appeared briefly in X Spaces. He praised World Liberty Financial as an initiative to create a more inclusive financial system, criticized the current U.S. banking system, and vowed to make the U.S. the crypto capital of the world if he wins the presidential election.

The post Trump Crypto Project Reportedly Secures 100K Signups Before Major Token Launch first appeared on The Shib Daily.

World Liberty Financial Token Sale Scheduled Amid Ongoing Controversies

Gairika Mitra — Mon, 14 Oct 2024 14:13:58 +0000

The highly anticipated token sale for World Liberty Financial (WLFI) is set to go live on Tuesday morning, October 15.

Former Republican U.S. president made the announcement on X.

.@WorldLibertyFi Token Sale goes live on Tuesday morning, October 15th! This is YOUR chance to help shape the future of finance. Be there on Monday, October 14th at 8 AM EST for an Exclusive Spaces to learn more. Join the whitelist today and be ready for Tuesday:…
— Donald J. Trump (@realDonaldTrump) October 12, 2024

This initiative aims to reshape the financial landscape, and prospective buyers are encouraged to join the exclusive X Spaces session on October 14 at 8 a.m. EST. This is to gain insights into this groundbreaking venture, as per Trump.

Over the years, Trump has evolved from being a critic of cryptocurrency to becoming a strong advocate. “We are embracing the future with crypto and leaving the slow and outdated big banks behind,” he declared in a video message on X in September.

Trump has consistently voiced his criticisms of banks and financial institutions. In August, he took to his social media platform, Truth Social, to express his opposition to traditional banking systems. Subsequently, he launched a dedicated Telegram channel, World Liberty Financial, aimed at supporting cryptocurrency and reportedly designed to bolster the value of U.S. dollar-pegged stablecoins.

World Liberty Financial: A Controversial Launch Amid Security Concerns and Centralization Criticism

During the launch of the DeFi platform, the X Spaces livestream unveiled that World Liberty Financial will serve as a comprehensive banking platform, enabling users to borrow, lend, and invest in cryptocurrency.

During the stream, the company introduced its token, WLFI. The founding team, including the Trumps, holds 20% of the tokens, while 17% is allocated for user rewards. The remaining 63% will be made available for public purchase. Notably, there will be no pre-sales or early buy-ins, and the token will adhere to SEC Regulation D, which allows fundraising without prior registration.

In closing his remarks during the platform launch, Trump underscored the importance of adopting cryptocurrency. “Crypto is one of those things we have to do. Whether we like it or not, we have to do it,” he stated.

Since its launch, World Liberty Financial has encountered numerous controversies, facing challenges related to scams and cyber threats. Notably, the X accounts of Lara Trump, Donald Trump’s daughter-in-law, and Tiffany Trump, his daughter, were compromised, raising significant security concerns about the venture.

Trump’s venture has received a lot of flak on social media as well. A well-followed X account with the handle @4HumanUnity noted that despite claims of supporting decentralized finance, insiders control up to 70% of the governance tokens, contradicting the concept of decentralization. The project’s website is registered anonymously through a service linked to Russian cybercriminals, heightening suspicions about its legitimacy. Furthermore, the code bears alarming similarities to Dough Finance, an Ethereum-based lending platform that was hacked for $2.1 million, and several team members were involved in that breach.

The post World Liberty Financial Token Sale Scheduled Amid Ongoing Controversies first appeared on The Shib Daily.

The Irony of Financial Freedom for the Elite: Trump’s Crypto Venture Excludes the Average Joe

Gairika Mitra — Sun, 06 Oct 2024 13:22:32 +0000

Howdy, howdy all you lovely people. We are back with yet another series full of fun and frolic! We promise this one is really gonna get you on the floor screaming LOL!

As you might have guessed already, we are delving deep into the Trump family again.

In a twist of irony that could only be scripted in today’s financial landscape, World Liberty Financial—the DeFi platform has rolled out its whitelist for accredited investors. It left the average American out in the cold.

The company’s mission to bring “financial freedom to everyone” rings hollow when it comes with a hefty price tag. A net worth of at least $1 million or an annual income of $200,000. It seems the only “freedom” the average American is getting is the freedom to watch from the sidelines. The wealthy on the other hand, can cash in on the crypto craze.

1/6 The World Liberty Financial whitelists are now OPEN. Backed by Donald J. Trump, we will onboard the next wave of users into the future of finance. Join the movement here: https://t.co/YLcCq49uac
— WLFI (@worldlibertyfi) September 30, 2024

Crypto for the Few: Trump’s DeFi Platform Leaves Everyday Americans in the Dust

While Trump promises to “make America great again” with crypto, it feels more like “make America rich again” for those already in the financial elite. Why you ask? Well, consider the fact that the platform’s commitment to including everyday Americans in the future is nice. However, it raises the question: how long will the average Joe have to wait for their turn at the crypto party?

In an era where digital assets are meant to democratize finance, Trump’s approach underscores a glaring contradiction. It clearly indicates that financial innovation is becoming yet another playground for the wealthy. As World Liberty Financial navigates regulatory hurdles, the average guy is left holding the bag. He wishes he could get in on the action without needing to jump through financial hoops.

As the Elite Play with Digital Gold, Average Joes Navigate the Scams

Adding insult to injury, the platform has already faced issues with scams and security breaches, with Trump’s own family members falling victim to hackers. It’s a harsh reality check: in the fancy world of high finance, while the rich are busy throwing money around like confetti, the everyday American is tiptoeing through the minefield of scams and cyber threats. It’s like they are clutching their wallet like it’s a prized possession.

Sure, World Liberty Financial says it plans to let all Americans in eventually, but by the time they roll out the red carpet for average Joes, we might just need a time machine to make it back to when we cared. Who knows? By then, the only thing we might want to invest in is a nice hammock to lounge in while the wealthy party on their crypto yachts!

Before you go, we are sure you know that this is a light-hearted article and is meant for entertainment purposes only! Please don’t get so serious after reading this and you might wanna think twice before making investment decisions basis what we wrote!

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event in November. Tickets are available now at shibacon.shib.io.

The post The Irony of Financial Freedom for the Elite: Trump’s Crypto Venture Excludes the Average Joe first appeared on The Shib Daily.

Donald Trump’s World Liberty Financial Opens Whitelists; New Era of DeFi?

Gairika Mitra — Tue, 01 Oct 2024 13:29:54 +0000

World Liberty Financial, the DeFi platform backed by Republican presidential candidate Donald Trump, announced on Monday the opening of its whitelists.

The World Liberty Financial whitelist is limited to accredited investors in the United States, as defined by the SEC. These are individuals who meet specific financial criteria, such as having a net worth of at least $1 million or an annual income of $200,000 or more. Only those who qualify under these guidelines are eligible to be included on the whitelist, but the company remains committed to including everyday Americans as part of its “broader mission for financial freedom.”

1/6 The World Liberty Financial whitelists are now OPEN. Backed by Donald J. Trump, we will onboard the next wave of users into the future of finance. Join the movement here: https://t.co/YLcCq49uac
— WLFI (@worldlibertyfi) September 30, 2024

Despite current regulatory hurdles that limit participation to accredited U.S. investors and non-U.S. persons, the company is actively working to change policies so that all Americans can join this financial initiative.

World Liberty Financial said that it’s mission is to bring financial freedom to everyone, regardless of their background or bank balance. The current regulatory landscape in the U.S. imposes restrictions on who can participate in such innovative financial platforms. The company also plans to expand its platform to include all Americans in the future.

Former President Trump also highlighted his promise to “make America great again,” this time with crypto.

I promised to Make America Great Again, this time with crypto. @WorldLibertyFi is planning to help make America the crypto capital of the world! The whitelist for eligible persons is officially open – this is your chance to be part of this historic moment. Join:…
— Donald J. Trump (@realDonaldTrump) September 30, 2024

Trump Crypto Venture Faces Security Breaches and Scams

The Shib Daily previously covered Trump officially launching his cryptocurrency venture.

In a live X Spaces conversation with crypto influencer Farokh Sarmad, Trump expressed excitement about the venture’s launch. “We’re going to make our country greater than ever before, and you’re going to love your crypto,” he remarked.

During the discussion, Trump shared how he was initially uninterested in cryptocurrencies due to unfamiliarity with the space. However, he credited his children for changing his perspective, stating that they “opened his eyes” to the potential of digital currencies as time went on.

However, even before its official launch, World Liberty Financial faced issues with scams and cyber threats. The X accounts of Lara Trump, Donald Trump’s daughter-in-law, and Tiffany Trump, his daughter, were hacked and used to promote fraudulent tokens.

World Liberty Financial quickly confirmed the security breach, warning the public to avoid clicking on any suspicious links or purchasing tokens linked to Lara and Tiffany Trump. The platform urged users to remain cautious and only engage with verified sources to avoid falling victim to scams.

The post Donald Trump’s World Liberty Financial Opens Whitelists; New Era of DeFi? first appeared on The Shib Daily.

Trump’s Crypto Venture: More Questions Than Answers

Gairika Mitra — Wed, 18 Sep 2024 15:57:41 +0000

Former U.S. President and current Republican presidential candidate Donald Trump’s latest foray into the world of cryptocurrency has left many in the industry disappointed. The unveiling of his decentralized lending platform, World Liberty Financial, was light on details and heavy on hype.

As a result, many are wondering if Trump’s crypto venture is a genuine attempt to revolutionize finance or just a clever publicity stunt.

Despite the two-hour live Spaces forum on the social media platform X, Trump and his team failed to provide any concrete information about how the platform would work. Entrepreneur Wayne Vaughan (@WayneVaughan) expressed his displeasure, calling the opportunity “a wasted one,” and noting that the listener count fell from 150,000 to 47,000.

We’re over two hours into this Trump crypto call and they haven’t yet spoken about what the platform does. The listener count has dropped from 150,000 to 47,000. What a wasted opportunity!
— Wayne Vaughan (@WayneVaughan) September 17, 2024

According to Fox Business, most people started dropping when Trump handed over the call to his sons and other speakers at around 8.45 p.m. EST.

However, the livestream finally put to rest the speculation that Barron Trump, the 18-year-old son of Donald Trump and a crypto enthusiast, was teaming up with Martin Shkreli (aka “Pharma Bro”) to launch a meme coin.

Shkreli recently got out of prison after serving nearly five of a seven-year sentence for securities fraud. He had been saying that his token was the “real” Trump family crypto token. He added that he was working with Barron on the project.

The only concrete detail that emerged from the discussion was the plan to introduce a non-transferable “governance” token. This token would allow accredited investors to buy through the platform’s official Telegram account. However, this move has raised more questions than answers.

Some investors expressed their disappointment over the fact that only accredited investors could access the token. Famous crypto YouTuber Wendy O (@CryptoWendyO) expressed her frustration over this move.

It’s not for retail so defeats the message he wants to push

Retail is not poor and stupid
— Wendy O (@CryptoWendyO) September 17, 2024

The Shib Daily previously reported that the World Liberty Financial will function as a banking platform. It will let users lend, borrow, and invest in crypto.

However, despite all these attempts it seems that Trump’s crypto venture has left many wondering if this is a genuine attempt to democratize finance or just a clever way to cash in on the crypto craze.

With so few details available, it’s difficult to say. One thing is certain, however: the crypto community will be watching closely to see if World Liberty Financial can deliver on its promises. Until then, skepticism remains the order of the day.

The post Trump’s Crypto Venture: More Questions Than Answers first appeared on The Shib Daily.

World Liberty Financial – The Shib Daily

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The Irony of Financial Freedom for the Elite: Trump’s Crypto Venture Excludes the Average Joe

Crypto for the Few: Trump’s DeFi Platform Leaves Everyday Americans in the Dust

As the Elite Play with Digital Gold, Average Joes Navigate the Scams

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Trump Crypto Venture Faces Security Breaches and Scams

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