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Trump-backed World Liberty Financial Proposes USD1 Airdrop to Early Supporters
Published
1 week agoon
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On Monday, World Liberty Financial (WLFI), a decentralized finance project backed by President Donald Trump, announced a proposal to distribute a small amount of its newly launched USD1 stablecoin to all eligible WLFI token holders.
The test, the company wrote, would “validate the technical functionality of its airdrop system in a live environment while thanking early supporters of the project.”
🦅 We just posted a new governance proposal:
To test our airdrop functionality by distributing USD1 to all $WLFI holders — rewarding our earliest supporters and preparing for future growth.
Join the discussion 👇https://t.co/NDg5yMYUrM
— WLFI (@worldlibertyfi) April 7, 2025
Framed as a test of its on-chain airdrop system, the proposal seeks to reward early adopters and boost “visibility and awareness” of its stablecoin USD1 before full-scale deployment.
“Testing the airdrop mechanism in a live setting is a necessary step to ensure smart contract functionality and readiness,” the proposal said.
The exact airdrop amount and timing are still being finalized, though it will occur on Ethereum Mainnet and be funded by WLFI.
“Even if approved, World Liberty Financial, Inc. reserves the right to discontinue, suspend, modify, or terminate the test airdrop at any time as well as to establish any additional eligibility requirements,” the Trump-linked firm wrote.
WLFI’s proposal also lays out a detailed plan including community discussion, finalization of the airdrop amount and execution method, a governance vote, and finally, public announcement of the distribution.
The voters are offered three options: Yes, No, or Abstain, with the majority having selected ‘Yes’ since the proposal was posted 7 hours ago.
WLFI’s Political Ties Trigger Backlash
Since WLFI launched USD1 in late March, just as Congress began debating the bipartisan STABLE Act, lawmakers have sounded alarms over Trump’s financial stake in the project, warning it could compromise the integrity of the regulation.
WLFI, launched last September, has already raised $550 million through token sales, with $390 million reportedly paid out to Trump family-linked entity DT Marks DEFI LLC.
The firm’s stablecoin USD1 is collateralized by U.S. Treasuries and managed by custodian BitGo, but the platform’s governance token remains non-transferable, adding to concerns over transparency and decentralization.
Tensions exploded during a recent House Financial Services Committee markup of the bill as Democrats pushed for amendments that would bar sitting presidents, cabinet members, and their families from launching stablecoins while in office.
Meanwhile last week, Sen. Elizabeth Warren (D-MA) and Rep. Maxine Waters (D-CA) demanded the U.S. Securities and Exchange commission (SEC) to turn over all internal records related to WLFI, citing potential “regulatory favoritism” and the agency’s decision to pause enforcement actions, including one involving WLFI investor and Tron founder Justin Sun.
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Strategy Buys More Bitcoin as Tariff Exemptions Send Tech Stocks Soaring
Published
2 days agoon
April 14, 2025By
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Strategy, formerly known as MicroStrategy, acquired around 3,450 Bitcoin worth $286 million last week, the company said in a Securities and Exchange Commission filing.
Unveiling a Bitcoin purchase for the third straight Monday, the Tysons, Virginia-based firm now owns 531,644 Bitcoin worth $45.2 billion, based on the asset’s current price.Strategy paid an average price of $82,600 per Bitcoin last week, it added.
Strategy, which has shifted its focus from software development to become a Bitcoin treasury, said it meanwhile sold one million Class A common shares through an at-the-money offering program unveiled in October. Under the initiative, Strategy said it can still issue an additional $2 billion worth of common shares, alongside swaths of preferred perpetual stock.
Strategy’s shares rose 4% on Monday to around $312, as the tech-heavy Nasdaq surged 1.5%, adding on to last week’s recovery after the White House said smartphones and computers would be exempt from sweeping levies, including 125% taxes on Chinese goods, per Nasdaq.
Monday’s price action represents a dramatic turnaround after investors navigated outsized uncertainty last week, including a disclosure from Strategy that it may ultimately need to sell Bitcoin to meet its financial obligations. Amid tariff-linked concerns, Strategy’s shares fell as low as $236, or around 32% below their opening on Monday.
“No Tariffs on Orange Dots,” Strategy co-founder and Executive Chairman Michael Saylor said on X, formerly Twitter, on Sunday, referring to the way Bitcoin buys look on Saylor Tracker.
The price of Bitcoin was recently changing hands around $85 on Monday, showing a roughly 8.3% increase of the past week, according to CoinGecko. Over the past month, it’s virtually flat.
Strategy has become the world’s largest corporate holder of Bitcoin since it began accumulating the asset in 2020. Over time, as it has embraced its role as a Bitcoin treasury firm, Strategy has issued billions of dollars in debt to buy more Bitcoin than it could otherwise.
The Nasdaq-listed firm’s 531,600 Bitcoin tower over the next largest corporate holder, Bitcoin miner Marathon Digital, which is around 47,500 Bitcoin, according to Bitcoin Treasures. As of this writing, Strategy’s stash accounted for more than 2.5% of Bitcoin total supply.
The Tokyo-based investment firm Metaplanet, which began buying Bitcoin last May, said on X on Monday that it had recently bought 319 Bitcoin worth $27 million. The company said in an update that it now holds 4,525 Bitcoin worth around $385 million.
Among publicly traded companies, MetaPlanet is currently the 10th largest Bitcoin holder, according to Bitcoin Treasuries.
Edited by James Rubin
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Japan’s Metaplanet Buys Another $26M in Bitcoin Amid Tariff Market Uncertainty
Published
3 days agoon
April 14, 2025By
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Metaplanet, the Tokyo-listed firm dubbed “Asia’s MicroStrategy,” has boosted its Bitcoin holdings with a fresh 3.78 billion yen ($26.3 million) purchase amid growing tension over U.S. trade tariffs.
The company said it acquired 319 BTC at an average price of 12,849,780 yen ($82,549) per coin, bringing its total holdings to 4,525 BTC. Metaplanet plans to boost its Bitcoin holdings by 470%, targeting a total of 10,000 BTC by year-end.
The timing of the purchase comes as digital assets falter under geopolitical pressure. Bitcoin dropped more than 2% on Sunday during Asia trading hours, sliding to $83,482 as investors digested conflicting signals from Washington over the direction of U.S. trade policy toward China.
Traditional markets remained resilient despite a flurry of comments from the Trump administration regarding new tariffs on Chinese electronics. Nasdaq 100 futures rose over 1% in early trading, while S&P 500 futures climbed 0.7%.
While smartphones and semiconductors were temporarily excluded from a proposed 10% “reciprocal” tariff, President Trump clarified late Sunday on Truth Social that the same products will remain subject to a separate 20% national security levy.
Commerce Secretary Howard Lutnick said further sector-specific tariffs are expected within the next two months.
By Monday, 1 a.m. ET, Bitcoin was up just 0.4% over the last 24 hours, trading at $84,990, according to CoinGecko. Ether was up 1.8% to $1,638 over the same period. The top ten cryptocurrencies by market cap have all posted slight gains or no change.
Metaplanet has leaned heavily into Bitcoin as its core treasury asset. Last month, the company appointed Eric Trump, son of the U.S. president, to its newly formed Strategic Advisory Board, citing his “business expertise and passion for Bitcoin.”
Metaplanet is positioning itself in the mold of Michael Saylor’s Strategy, whose aggressive Bitcoin accumulation strategy has influenced a growing number of publicly listed firms to follow suit.
At the same time, the Trump administration has launched two separate initiatives: a Strategic Bitcoin Reserve, funded by seized BTC and held as a permanent national asset, and a U.S. Digital Asset Stockpile, which includes other confiscated crypto with potential for liquidation or strategic use.
Edited by Sebastian Sinclair
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Scottish School Will Accept Bitcoin Payments, May Launch BTC Reserve
Published
4 days agoon
April 12, 2025By
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A school in Scotland has said it will be the first in the UK to start accepting Bitcoin payments.
Lomond School in the town of Helensburgh said that it made the choice to accept the cryptocurrency after a number of parents—both local and foreign—made the request, The Times reported.
The private boarding school has a number of international students.
To “manage and mitigate risk,” the school said it would start accepting the biggest cryptocurrency in phases, and would convert digital coins received into pound sterling. It also said that it would ensure full compliance with UK financial regulations when accepting BTC.
The school added that it would also consider building a reserve of the cryptocurrency if its use case grows in the UK. “Assuming Bitcoin gains broader acceptance in the UK and worldwide, the school will look to build a Bitcoin asset reserve,” it said in a statement.
Lomond School did not immediately respond to Decrypt’s questions.
The idea of a “Bitcoin asset reserve” echoes U.S. President Trump’s executive order signed last month authorizing the government to hold BTC and figure out ways to buy more of the asset. The U.S. government already holds around 200,000 BTC—worth $16.7 billion at today’s price—that was primarily seized or forfeited in criminal cases.
A number of other countries are now considering holding Bitcoin—like they hold other assets in reserves—and businesses too have started buying up the asset. Strategy, the largest corporate holder of Bitcoin, currently holds over $44 billion worth of the asset.
Edited by Andrew Hayward
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