👀 Trump Family Announces WLFI Token Sale

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World Liberty Financial, the upcoming DeFi protocol from the Trump family, announced it will distribute nearly two-thirds of its WLFI token’s supply through a token sale. However, only qualified U.S. investors can participate in the sale, with WLFI comprising a non-transferable governance token.

Binance is facing accusations of insider trading after listing a memecoin with a market capitalization of just $15 million.

Markets rallied on Tuesday as upbeat U.S. retail sales buoyed investor sentiment. Bitcoin gained 5% while Ether is up 3%. Polkadot dipped 1%, while Solana (SOL) gained 2%.

A restaurant settled an SEC enforcement action claiming its NFT-based membership program comprised an unlicensed securities offering.

Plus, EigenLayer integrates support for tBTC, Hedera jumps on tokenization bandwagon, Redacted hosts in-flight party en route to Token2049, and DeGods sparks controversy with token exchange.

✍️ In today’s newsletter:

Trump Family confirms upcoming WLFI token sale
Binance in hot water over NEIRO listing
Markets rally ahead of Fed
SEC commissioners dissent over Flyfish settlement
EigenLayer adds tBTC as restakable asset
Hedera launches RWA tokenization studio
Redacted throws party during ‘web3 flight’
Degpds ruffles feathers with DEGOD migrations

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DIA launches ‘Lumina ’ – a brand-new trustless oracle network. Its modular, rollup-based design enables the verifiable sourcing and delivery of any data to any blockchain. Fully decentralized and permissionless.

️🏷️ Trump Family’s World Liberty Financial Announces Token Sale

World Liberty Finance, the forthcoming DeFi protocol from the Trump family, revealed plans to conduct a WLFI token sale. The sale will distribute nearly 63% of the token’s supply to accredited U.S. investors, with 20% of tokens earmarked for the project’s team, and 17% allocated as rewards. However, WLFI will comprise a non-transferable governance token.

🤔 Binance Accused of Insider Trading After Listing the “Wrong” Memecoin

Binance is in hot water after igniting a parabolic rally for The First NEIRO on Ethereum — a small-cap memecoin with a $15 million capitalization prior to its listing on the platform. Binance claims it made a mistake and that it instead intended to list the NEIRO on ETH token, which had a market cap of $120 million, but some onlookers are crying foul play.

📈Crypto Markets Rally After U.S. Retail Sales Beat Expectations

Cryptocurrency markets traded higher on Tuesday as investors digested upbeat U.S. retail sales data. Wall Street anticipates a rate cut tomorrow from the Fed, which has been aggressively hiking rates since March 2022 to combat inflation.

💰 Restaurant Settles Controversial SEC Action Over NFT Membership Program

The Flyfish restaurant agreed to a $750,000 settlement with the SEC over its NFT-based membership program. The SEC accused the restaurant of earning more than $17 million through an unregistered securities sale, but some of the SEC’s own commissioners are pushing back against the regulatory action.

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🥩 EigenLayer Expands Roster Of Restakable Assets With tBTC Integration

EigenLayer integrated support for Threshold’s Bitcoin-backed ERC-20 token, tBTC, as a restakable asset. The move comes as EigenLayer is looking to expand its roster of supported assets, with the protocol recently allowing AVSs the choice of supporting any ERC-20 token.

🪙 Hedera Launches Asset Tokenization Studio Amid Global RWA Push

Hedera is looking to foster an ecosystem of on-chain real-world assets, with the project launching an RWA-focused tokenization studio. The news came one day after the Bank for International Settlements announced that 41 private firms had joined its tokenization initiative, Project Agora.

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🎉 Degens Throw In-Flight Party En Route to Token2049

Redacted, a web3 startup, threw a party for attendees of a flight traveling from Dubai to Singapore for the Token2049 conference. “This is the last time the Qatar staff is going to host a web3 plane, and to be honest that was the goal,” said Shan Kumar, the co-founder of Redacted.

☭ DeGods Make All NFTs Equal After Claiming Existing Model is ‘Communist’

DeGods is attracting criticism after launching token migrations allowing holders of Degods NFTs, Y00ts NFTs, and $DUST to its new DEGOD token. Controversially, the rarity of each token won’t be factored into how DEGOD are allocated, with each token qualifying holders for the same sum of tokens.

🌍 ELSEWHERE

Crypto VC Fund Dragonfly Seeking to Raise a $500 Million Fund (Bloomberg)
Circle's USDC in Brazil and Mexico Now Available to Businesses Via Banking System (CoinDesk)
Bhutan Has Even More Bitcoin Than El Salvador Thanks to Its Mining Operation (Decrypt)