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Cryptocurrency News Articles
Trump Silent on World Liberty Financial, Team Unveils WLFI Token
Sep 21, 2024 at 03:01 am
This week, investors were disappointed after former United States President Donald Trump remained silent on his family's upcoming crypto platform
This week in DeFi: Trump remains silent on World Liberty Financial at launch event, but team unveils WLFI token
Former United States President Donald Trump did not speak about World Liberty Financial during a so-called launch event on X, but the team eventually shared information about the project’s token.
Trump was interviewed by crypto influencer Farokh Sarmad in a Sept. 16 X Space, his first public appearance since an apparent assassination attempt on Sept. 15, which he spoke about to open the livestream.
Despite Trump billing the livestream as a “State of Crypto address,” it took about 16 minutes for him to mention the word, saying: “We’re going to make our country greater than ever before, and you’re going to be happy, and you’re going to love your crypto.”
It wasn’t until over two hours into the livestream that one of the project’s leaders, Zak Folkman, shared that “there will be a token.”
When asked about the token’s name, Folkman replied: “I can’t say that yet. You’ll have to wait and see.”
However, Trump did not end up talking about World Liberty Financial during the event, which was attended by several members of the project’s team.
The project’s team members eventually took to Twitter to share information about the project’s token, which will be called WLFI and is nontransferrable.
House Republicans demand SEC’s Gensler clarify crypto airdrops stance
Two Republican Party lawmakers are demanding SEC Chair Gary Gensler answer questions about the classification of crypto airdrops by the end of September.
Representative Tom Emmer and House Financial Services Committee Chairman Patrick McHenry said in a Sept. 17 letter to Gensler that they’re concerned after the SEC made “assertions about airdrops” in various lawsuits over the last two years.
In September 2022, the SEC sued Hydrogen Technology Corporation and its former CEO for market manipulation of what it called “crypto asset securities.”
The SEC alleged that Hydrogen and former CEO David Ruggles conducted a scheme to manipulate the market for Hydrogen’s common stock and crypto airdrops.
“Gensler, the SEC has made several assertions about airdrops in the context of various enforcement actions over the last two years,” Emmer and McHenry wrote.
“These assertions have varied and, at times, have been directly contradicted by statements made by SEC staff,” they added.
Ethena domain registrar hacked, Ethena Labs warns users to stay away
The Ethena website suffered what appears to be a front-end exploit on Sept. 18, and Ethena Labs has cautioned users not to interact with any site or application claiming to be Ethena.
According to a social media post from Ethena Labs, the website’s domain registrar account was compromised, and the site is currently deactivated until the issue is resolved.
“The Ethena website domain registrar account was compromised,” the Ethena Labs team wrote.
“The Ethena website is currently deactivated. Please do not interact with any site or application claiming to be Ethena. We will provide an update once the issue has been resolved.”
Ethena Labs also reassured clients that the Ethena protocol was not affected by the exploit and that all customer funds remain safe.
“The Ethena protocol has not been exploited,” the team added.
“All customer funds are safe. The Ethena team continues to monitor the situation closely.”
SEC settles with Rari Capital over DeFi pools, unregistered broker activity
The SEC has settled with DeFi protocol Rari Capital and its co-founders for allegedly misleading investors and unregistered broker activity.
According to a Sept. 18 announcement, the SEC claimed that Rari Capital’s Earn and Fuse pools “functioned like crypto asset investment funds,” allowing investors to deposit crypto assets in lending pools and earn returns from their investments.
The complaint alleges that Rari Capital conducted unregistered offers and sales of securities by selling interests in these pools and their tied governance tokens.
The SEC also alleges that Rari Capital and its co-founders failed to register as brokers while offering and selling these securities.
“Rari Capital and its founders misled investors about the risks associated with the Earn and Fuse pools and failed to register these crypto asset offerings with the SEC,” said Osman Nawaz, associate director of the SEC’s Division of Enforcement’s Crypto Assets and Cyber Unit.
Tether USDT’s market share rises 20%, reaching 75% in two years
Tether’s US dollar-denominated stablecoin now controls two-thirds of the entire stablecoin market, following significant adoption over the past two years.
The market share of USDt (USDT) rose over 20% during the past two years to comprise over 75% of the entire stablecoin market, according to Token Terminal.
The onchain data
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