World Liberty Financial (WLFI) has announced plans for an airdrop of its newly launched USD1 stablecoin. The distribution will target early supporters of the project. It is designed as a test to validate its airdrop system’s functionality on Ethereum Mainnet.
Although the exact amount and timing are yet to be finalised, the initiative aims to boost the coin’s visibility. It will also ensure the smooth operation of its smart contract mechanisms.
The proposal outlines a process with community discussion, a governance vote, and a public announcement once the airdrop is finalised. However, WLFI maintains the right to modify or cancel the airdrop at any point.
The platform faces significant political backlash. Some lawmakers have raised concerns about the financial involvement of the Trump family. They are suggesting potential conflicts of interest.
Also, WLFI’s governance structure includes a non-transferable token, raising questions about transparency and decentralisation.
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With assets exceeding $800 billion, the fund is evaluating how blockchain could streamline transactions. South Korea is also considering how the technology could manage deposits and track withdrawals.
Although NPS has previously stated it would not invest directly in cryptocurrencies, it has bought shares in crypto-related companies. Investments include stakes in Coinbase and MicroStrategy.
The fund appears more focused on blockchain’s underlying infrastructure. It sees potential to reduce record tampering and improve data accuracy. However, the move aligns with growing interest in digital assets across South Korea, where over 16 million people now invest in cryptocurrencies.
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James A. Murphy, known online as ‘MetaLawMan,’ has filed a lawsuit against the US Department of Homeland Security (DHS). The legal action aims to uncover documents that could potentially reveal the identity of Satoshi Nakamoto, the elusive creator of Bitcoin.
The lawsuit, filed in a DC District Court, follows a 2019 statement by DHS Special Agent Rana Saoud. She suggested the agency had identified and interviewed four individuals involved in the creation of Bitcoin at a California conference.
Murphy is seeking internal DHS records, such as emails and notes from the meeting, after his FOIA requests went unanswered. He argues that the identity of Nakamoto has become increasingly important.
It is particularly true with the rise of Bitcoin ETFs and a recent executive order from President Donald Trump, which established a strategic Bitcoin reserve.
The identity of Nakamoto has remained one of the biggest mysteries in the cryptocurrency world. Despite ongoing speculation, no one has conclusively identified the person or group behind the pseudonym.
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A Nigerian court has adjourned a major tax evasion case against cryptocurrency exchange Binance to 30 April. The Federal Inland Revenue Service (FIRS) was granted additional time to respond to a legal motion filed by the company.
Binance is challenging a previous court order that allowed the FIRS to serve legal papers via email. The exchange claims Nigerian authorities lacked court approval to serve documents abroad. Binance’s counsel has called for the substituted service order to be invalidated.
The FIRS alleges Binance owes $2 billion in taxes and $79.5 billion in damages for its role in economic losses. It argues Binance’s strong presence in Nigeria makes it liable for 2022–2023 corporate taxes and related penalties.
The case forms part of Nigeria’s broader crackdown on crypto activity. Binance remains widely used by Nigerians seeking access to stablecoins and digital assets.
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In a dramatic escalation of the US-China trade war, Trump threatened to raise tariffs on Chinese imports. He announced on Truth Social that China would face a 50% tariff unless it removed retaliatory measures by 8 April 2025.
These measures would push the total tariffs on Chinese goods to 104%. The specific items, like automobiles and electronics, should face even higher rates.
The US has already imposed a 54% tariff on Chinese goods. China retaliated with 34% tariffs on US products. It has led to rising concern in both stock and crypto markets.
Since the announcement of the ‘Liberation Day’ tariff increase, average US tariffs on foreign goods have reached 18.8%. As a result, the crypto market has lost $1 trillion in value. Traders are fearing rising inflation and negative economic consequences.
However, some traders remain optimistic, believing that Trump’s tariffs are a negotiating tactic rather than a long-term measure. Recent polling on Polymarket shows that 59% of traders expect Trump to reduce most tariffs by July.
Bitcoin’s price spiked to $81,119 following the announcement, only to fall back to $78,321 as traders await further developments.
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Billionaire investor Ray Dalio has warned that the recent market turbulence is part of a larger global crisis. The turmoil has been triggered mainly by President Trump’s tariff policies.
In a new statement, Dalio described the situation as a ‘once-in-a-lifetime’ breakdown of the global order. He emphasised that this disruption is driven by forces far beyond short-term market volatility.
Dalio pointed to five key forces reshaping the world. These include unsustainable debt, domestic political unrest, shifts in global power, environmental challenges, and the rise of technologies like AI.
He stressed that tariffs are just a symptom of larger systemic issues. One key issue is the imbalance between debtor nations, such as the US, and creditor nations like China.
The relationship between cryptocurrency markets and equities has become more intertwined. Bitcoin, in particular, has shown increased sensitivity to macroeconomic factors. It may decouple from risk assets, outperforming tech stocks despite rising yields and inflation fears.
As global financial and political structures continue to unravel, markets are likely to face more widespread disruptions.
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The leading crypto exchange, Bitget, has secured full regulatory approval in El Salvador. It has received both the Digital Asset Service Provider (DASP) and Bitcoin Services Provider (BSP) licences.
The expansion enables the exchange to offer an array of crypto services in the country. It includes spot and derivatives trading, staking, wallet infrastructure, and custody services. Bitget’s dual licensing enables it to offer a wider range of digital assets beyond Bitcoin to local users.
Additionally, Bitget plans to provide staking and futures trading services, along with educational initiatives to improve crypto literacy. The platform is customising its services to ensure secure and regulated crypto engagement for Salvadoran users.
El Salvador has a proactive approach to digital asset regulation, which is essential for its growth.
As part of its global strategy, Bitget has already secured licences in Hong Kong, Lithuania, and the UAE. The company is focused on expanding into regulated markets, offering secure and reliable services globally.
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Amid shifting regulations, the stablecoin issuer Tether anticipates that USDT may eventually become unavailable in either the US or Europe. CEO Paolo Ardoino said the firm is creating a second stablecoin to meet upcoming US regulations.
Ardoino noted that each would serve a different function. The proposed stablecoin would be US-based and intended for payments. USDT would continue serving emerging markets.
Tether has also responded to regulatory changes in Europe by supporting the development of locally compliant stablecoins.
Ardoino admitted that the firm envisions a future in which USDT plays a limited role in both Western markets. Instead, the focus will shift to global remittances and emerging economies where demand remains strong.
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Conor McGregor’s cryptocurrency project, REAL, failed to meet its $1 million fundraising target. It raised only $392,000 during its 28-hour presale.
The token saw 668 participants bidding, but the amount was well below the required minimum. As a result, all bids were refunded in full.
RWG cited challenging macroeconomic conditions and the distraction caused by the meme coin narrative for the failure. Despite this, the team reassured participants that the project would relaunch soon.
McGregor had emphasised that the REAL token wasn’t just another celebrity-backed gimmick. It was a serious attempt to change the crypto ecosystem.
The REAL token auction used a sealed-bid mechanism to promote fairness and transparency. Despite efforts, the project struggled with market confusion due to its link with McGregor and broader crypto market volatility.
The launch coincided with a decline in investor interest in meme coins. It was further exacerbated by global economic concerns, including President Trump’s tariff policies.
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Since February 19, US stock markets have suffered a massive $11 trillion loss, with the downturn worsening after President Donald Trump announced his new tariff policy.
The market lost $3.25 trillion on 4 April alone. The amount surpassed the entire global cryptocurrency market valuation, which stood at $2.68 trillion at the time.
Major tech stocks were among the hardest hit, with Tesla falling 10.42%, and Nvidia and Apple dropping 7.36% and 7.29%. The broad sell-off pushed the Nasdaq 100 down 6%, officially entering bear market territory.
Analysts have pointed to Trump’s 2 April tariff policy as a key factor. They warned that continued tariffs could lead to an unavoidable recession. The new tariffs include a 10% levy on imports and reciprocal tariffs to address trade imbalances.
While traditional markets are reeling, Bitcoin has shown resilience. Some analysts view Bitcoin’s stability as a potential hedge against macroeconomic instability.
Bitcoin commentator Anthony Pompliano suggested the Trump administration might be causing market turmoil. It is seen as an effort to pressure the Federal Reserve into lowering interest rates, crucial for managing US debt.
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