GM citronauts. Get ready for a citrusy splash of crypto news – we're turning market lemons into blockchain lemonade.
💪 The Trump family's upcoming project has specified its goal: widespread adoption of DeFi and USD-pegged stablecoins. However, it was revealed that 70% of its governance tokens might go to insiders.
🍊 News drops: Nvidia clarifies that it hasn't been subpoenaed by the DOJ, Robinhood reaches a $3.9M settlement with California's DOJ, Uniswap Labs has agreed to pay $175K to settle with the CFTC + more
🍍 Market flavor today
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| Crypto Market Cap $2.1 Trillion -0.1% (24H) | |||
| Name | Price | 24H % | 7D % |
|---|---|---|---|
 Bitcoin BTC |
$56,730.30 | 0.77% | -5.83% |
 Ethereum ETH |
$2,390.48 | -0.20% | -6.48% |
 BNB BNB |
$506.82 | 1.61% | -6.84% |
 Solana SOL |
$133.59 | 3.75% | -7.67% |
| Prices as of 10:05 AM EST. Click here to see live data. |
The crypto market is showing signs of life, with the Fear and Greed Index inching up to 29. While we're still in "Fear" territory, this slight uptick suggests investors might be cautiously peeking out from under their blankets. We're seeing some green shoots in 24-hour gains for top coins, even as their weekly performance remains in the red. Meanwhile, Bitcoin ETFs are still experiencing outflows, but at a slower rate - like a leak that's starting to taper off.
Don't break out the party hats just yet - September's reputation as crypto's chilliest month is holding strong. Will October and November bring the heat, or are we in for an extended crypto autumn? Grab your pumpkin spice latte and stay tuned ☕
💪 Power to the people, but the people are... insiders?
Most crypto community members have already heard about the Trump fam's upcoming DeFi project, World Liberty Financial. Most crypto community members also have no clue what it is.
Up until recently, all we got from the project were some posts quoting Abraham Lincoln and saying that it's time to Make Finance Great Again—😃👍, but how?
Well, the project has finally released some more details on what's about to come: the Trumps want the whole world to hop on the DeFi train and use USD-pegged stablecoins to keep the dollar dominant in global finance.
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The concern of keeping the dollar the top dog isn't random, especially when you look at the BRICS countries—Brazil, Russia, India, *Trump voice* China, and South Africa + new members—who are working hard as if rent's due to find alternatives for the currency in international trade. Basically, Trump's trying to think ahead of that.
Another detail we unlocked is that the project might collab with Aave, an Ethereum-based lending platform, suggesting that the World Liberty Financial platform might run on Ethereum, too.
Overall, the Trumps are cookin' a platform which, in Donald's words, will fix the "rigged" TradFi system and will "👌 put the power of finance back in the hands of the people 👌."
…but will it, tho?
A leaked white paper revealed that 70% of the project's governance tokens (WLFI) will go to insiders—the founders, team, and service providers. That leaves only 30% for the public.
Call me ungrateful, but if I pull up to a pizza party where the host eats 7 slices while the guests are given 3 to share—you best believe that host's not hearing from me ever again.
To give you some perspective, Satoshi Nakamoto, Bitcoin's creator, holds about 5% of Bitcoin's supply. So yeah, 70% is crazy.
In their defense, World Liberty Financial said they weren't sure which version of the white paper leaked, so it might not be the final one. Still, the fact that this version exists at all deserves some side eyes.
Long story short, the project dreams big, but will they deliver? We'll have to wait and see.
📰 News drops
🌬️ Nvidia clears the air: it hasn't received an antitrust subpoena from the Department of Justice (DOJ). "Nonetheless, we are happy to answer any questions regulators may have about our business," said the company's spokesperson.
🪶 Robinhood's crypto division agreed to pay $3.9M to settle with California's DOJ. The company was accused of blocking users from withdrawing crypto and making misleading promises.
🦄 Uniswap Labs has also settled with the US Commodity Futures Trading Commission (CFTC). They were fined $175K for allegedly illegally offering margined and leveraged trades in digital assets.
🌞 Solana's memecoin platform Pump.fun regains its lead over Tron's Sun Pump in daily token launches. Yesterday, 7.1K new tokens were launched on Pump.fun, compared to 1.2K on Sun Pump.
🏦 Switzerland's fourth-largest bank, Zurich Cantonal Bank, has started offering crypto services. Retail customers can now buy, sell, and hold Bitcoin and Ethereum.
💰 Siemens has issued a $330M digital bond on a private blockchain. It's one of the biggest projects of its kind in Europe so far.
💸 The Fed has issued a cease-and-desist order to the crypto-friendly United Texas Bank because of deficiencies in its risk management systems. The bank now needs to improve how its board oversees compliance with anti-money laundering rules.
🍌 Juicy memes
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