Everyone, I hope you had a great weekend. In today’s Daily, Donald Trump-backed World Liberty Financial claims more than 100,000 whitelist members, Kamala Harris pledges to support a cryptocurrency regulatory framework that provides protections for black men, and CoinShares says there is a political shift to the Republican Party. He said he led the rebound in cryptocurrency fund flows last week. .
Meanwhile, Venice co-founders Erik Voorhees and Teana Baker-Taylor told The Block on the latest episode of The Scoop podcast: “I don’t care if AI scares you. It’s inevitable.”
Let’s get started.
World Liberty Financial, which is backed by Donald Trump, claims it has signed up over 100,000 people.
World Liberty Financial, a DeFi project backed by Donald Trump and his sons, claims to have attracted more than 100,000 whitelist sign-ups ahead of its token launch.
- “All of this is inspired by the ideals and vision of Donald J. Trump,” Zak Folkman, one of the project’s co-founders, said Monday during an X Spaces live stream with Chase Herro, Steve and Zach Witkoff.
- Folkman confirmed that WLFI will be an ERC-20 token and sales will take place on the WLF website for those who sign up for the whitelist.
- Approximately 63% of WLFI tokens will be sold to the public starting Tuesday, with 17% reserved for user rewards and 20% for team rewards.
- WLFI is only available to accredited US investors, qualified UK investors and other investors outside of these countries.
- The initial sale aims to raise $300 million by selling 20% of the token supply at a valuation of $1.5 billion.
- Paxos co-founder Rich Teo also announced during the livestream that he had joined the project as head of stablecoins and payments.
- World Liberty Financial plans to launch an Aave-like DeFi lending platform on the Ethereum Layer 2 network Scroll.
- Donald Trump Jr. criticized the U.S. banking system in a live stream, calling it a “big Ponzi scheme,” and explained why he supported the protocol.
- However, critics such as Rep. Wiley Nickel have previously argued that Trump’s involvement in the project undermines bipartisan cryptocurrency policy efforts.
Kamala Harris pledges to support a cryptocurrency regulatory framework that protects Black men.
Vice President Kamala Harris has unveiled plans to support a cryptocurrency regulatory framework to protect Black men investing in cryptocurrencies as part of her “Opportunity Agenda for Black Men.”
- “Vice President Harris appreciates how new technologies can expand access to banking and financial services,” her campaign team said in the plan.
- The proposal also includes forgivable loans for Black entrepreneurs looking to start businesses, health plans, and legalization of recreational marijuana.
- Cleve Mesidor, founder of Nat’l Policy Network WOC Blockchain, criticized the narrow focus on Black men and called for a broader inclusion of diverse cryptocurrency leaders in policy discussions.
CoinShares said the shift to the Republican Party led to weekly cryptocurrency inflows of $407 million.
Related indices
The political shift toward Republicans ahead of the U.S. election led to net inflows of $407 million into global cryptocurrency investment products last week, according to James Butterfill, head of research at CoinShares.
- In Butterfill’s view, US-based funds dominated last week’s net inflows, adding $406 million, possibly due to the current political climate.
- “This trend is evident in the fact that stronger-than-expected economic data has done little to stem the outflows, while the recent US vice-presidential debate and subsequent shift in opinion polls towards Republicans, who are perceived as more supportive of digital assets, have increased the inflows. “Prices will rise immediately,” he said.
- Donald Trump leads Kamala Harris by about 55% to 45% odds of winning the presidential election according to Polymarket.
- The decentralized forecasting platform also shows a 78% probability for a Republican Senate, a 56% probability for a Democratic House, and a 38% probability for a landslide victory for Republicans, compared to 17% for Democrats.
Hyperliquid users can win HYPE tokens in an upcoming airdrop, a new Hyper Foundation reveals.
The newly formed Hyper Foundation announced the launch of Hyperliquid’s native HYPE token ahead of HyperEVM’s mainnet, but the airdrop date has not yet been revealed.
- Hyperliquid is a decentralized perpetual swap platform that recently exceeded $1 billion in daily trading volume, potentially driven by a points rewards campaign that determines token airdrop allocation.
- Eligible users will receive HYPE tokens and an optional Hypurr NFT as part of the Genesis distribution to commemorate the launch.
- The HYPE token is essential to the HyperBFT proof-of-stake consensus and the future development of the Hyperliquid roadmap, the foundation said.
Google’s weekly relative search volume for ‘Bitcoin’ hit its lowest point in a year.
Google relative search volume for the term ‘Bitcoin’ hit its lowest weekly level in a year, despite a 145% rise in the price of the cryptocurrency over the same period.
- While other cryptocurrency-related search terms such as ‘Ethereum’, ‘NFT’, and ‘DeFi’ are also at a low level, interest in hot topics such as ‘Memcoin’ is rising again.
- However, low search volume does not necessarily indicate a downward trend, according to Ryan Lee, principal analyst at Bitget Research. This is because these periods have historically provided an opportunity to build positions for market rallies.
within the next 24 hours
- U.S. FOMC members Mary Daly, Adriana Kugler and Raphael Bostic are scheduled to speak Tuesday at 11:30 a.m., 1:05 p.m. and 7 p.m., respectively.
- Future Blockchain Summit continues in Dubai.
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