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Trump-Backed Crypto Project Shatters Records with 100,000+ Signups Before Major Token Launch

World Liberty Financial, backed by Donald Trump, has over 100,000 signups ahead of its Oct. 15 token launch, aiming to raise $300 million for its DeFi platform.

Author

Steven Walgenbach
October 15, 2024

Breaking Crypto Stories

Here are the top stories today:

  • Trump’s Crypto Project Claims 100K Signups Ahead of Token Sale

  • FinCEN Alleges TD Bank Failed To Report Suspicious Crypto Activity Amid $3 Billion Money Laundering Penalty

  • Crypto Stocks See Price Rally as Bitcoin Tops $66K

  • Sui Crypto Price’s 120% Surge Ignites Insider Trading Allegations

  • Crypto Fund Inflows Surge Back: $407M Amid Political Shifts

  • Ripple CTO Dismantles Craig Wright's Claims About Bitcoin's Original Intentions

Question of the Day

Is Bitcoin going to break $70K this week?

📣Trump’s Crypto Project Claims 100K Signups Ahead of Token Sale

The Donald Trump-backed crypto project, World Liberty Financial (WLFI), has seen over 100,000 signups ahead of its Oct. 15 token launch, with plans to raise $300 million and utilize the WLFI token for governance on its DeFi platform.

  • World Liberty Financial's WLFI token, an Ethereum-based ERC-20 asset, will serve as the governance token for its decentralized finance platform, offering borrowing, lending, and stablecoin transactions.

  • The project aims to raise $300 million from token sales, with 63% of tokens sold to whitelisted members and 17% allocated for user rewards.

  • Donald Trump Jr., the project's "Web3 Ambassador," praised the platform's mission to introduce a more equitable financial system, while the project seeks to make the US a "crypto capital" under Trump’s presidency.

TD Bank faces a $3.09 billion penalty after pleading guilty to Bank Secrecy Act violations for failing to report suspicious cryptocurrency transactions involving an unnamed customer group.

  • TD Bank processed over $1 billion in unreported cryptocurrency-related transactions for "Customer Group C," despite the group's misleading claims about its activities.

  • The customer group funneled 90% of its funds from a UK crypto exchange and sent 60% to Colombian financial institutions, raising red flags that went unreported by TD Bank until law enforcement inquiries.

  • TD Bank pled guilty to violations and faces $3.09 billion in penalties, the largest ever imposed under the Bank Secrecy Act, alongside a four-year monitorship.

Publicly traded crypto-linked firms saw notable gains on Oct. 14 as Bitcoin surged 6% to its highest price since July, with companies like CleanSpark and Coinbase leading the rally.

  • Bitcoin surged 6% on Oct. 14, briefly hitting $66,400, which boosted crypto-linked stocks like CleanSpark (+12.72%) and Coinbase (+11.3%) to multi-week highs.

  • The rally was driven by Bitcoin clearing key support levels, with analysts speculating that "Uptober" might be starting, known for strong price gains in October.

  • Industry experts believe the 2024 Bitcoin halving and the US election could help push Bitcoin to new all-time highs, following its current momentum.

Sui crypto's 120% price surge has attracted attention, but allegations of insider selling raise concerns about potential market manipulation, urging investors to proceed with caution.

  • Sui crypto surged 120%, fueled by speculative trading and its innovative blockchain technology.

  • Allegations of insider selling by key stakeholders during the price peak have raised concerns of potential manipulation.

  • Investors should carefully assess the risks, stay informed, and monitor the token's performance amid the ongoing controversy.

💸Crypto Fund Inflows Surge Back: $407M Amid Political Shifts

The cryptocurrency market is experiencing a resurgence with $407 million in fund inflows, driven by renewed investor confidence and political shifts, offering both opportunities and challenges for investors.

  • A $407 million inflow into crypto funds signals growing investor confidence and a potential rebound in the cryptocurrency market.

  • Political changes and regulatory developments are key factors driving this surge, creating a more favorable environment for digital assets.

  • While the market presents significant opportunities, investors must remain informed and cautious due to the volatile nature of cryptocurrencies.

Ripple CTO David Schwartz challenges Craig Wright's claims about Bitcoin's original intentions, arguing that Bitcoin was designed as a decentralized, peer-to-peer currency, contrary to Wright's assertions of centralization.

  • Craig Wright claims Bitcoin was intended to be a private, centralized currency, but Ripple CTO David Schwartz refutes this, pointing to Bitcoin’s foundational focus on decentralization.

  • Schwartz emphasizes that Bitcoin’s core principles—decentralization, transparency, and peer-to-peer transactions—aim to empower individuals and disrupt traditional financial systems.

  • The debate underscores the importance of adhering to Bitcoin's original vision as the crypto landscape evolves, with Schwartz advocating for transparency and integrity in the industry.

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