🏴 World Liberty Flop

Weekly Recap: Trump's DeFi debut may have raised millions but it fell way short of expectations.

World Liberty Flop Published on Oct 19, 2024 View in Browser gm Bankless Nation, Trump's DeFi debut may have raised millions but it fell way short of expectations. Today's Issue ⬇️ 🗞️ Recap: World Liberty Flop Trump's $300M raise shows up short. 📺 Rollup: Election Pump? Crypto gets ready for November. 🕰️ Catch Up: What We Published EVM Pioneers. a16z Crypto Report. Sponsor: Cartesi — Discover the power of Linux for your ambitious dApps, only on Cartesi. Visit cartesi.io to Learn More .  .  . WEEKLY RECAP World Liberty Flop 1️⃣ Trump Token Sale Flops Donald Trump's World Liberty Financial has high hopes for its token sale, but as of Friday, only ~4% of the supply had sold. Limited to accredited investors due to SEC regulations, the project struggles to gain momentum, moving just $13M worth of tokens since the start of its sale on Tuesday. Some believe Trump’s core audience may not be as engaged with crypto as anticipated, with a website crash on launch day only compounding the weak performance. 2️⃣ Bitcoin Rides Uptober Surge Like clockwork, it’s back to Uptober, with Bitcoin up another ~8% over the past week, rising to just below $69K on Friday. In that time, Bitcoin ETFs recorded their largest inflow since July, bringing in over 25,675 BTC ($1.74B) across global markets. Expectations for more Fed rate cuts, healthy economic data, and growing confidence in a pro-crypto Trump presidency have driven much of this buying spree. Bitcoin ETFs now hold an impressive 1.1M BTC, equivalent to the amount held in Satoshi's original wallet, a number that keeps growing with daily mined supply being snapped up. 3️⃣ Base Overtakes Arbitrum Base officially surpassed Arbitrum as the top Ethereum rollup by total value locked (TVL), reaching $2.49B and edging out Arbitrum’s $2.41B. Aerodrome alone accounts for more than $1.35B of Base’s TVL, highlighting its dominance. With over 1.35M daily active addresses, Base now leads all L2s in user activity, marking a significant milestone for the chain and the Superchain overall. 4️⃣ Worldchain Goes Live Worldchain, World’s new L2 for humans built on the OP-Stack, went live on Thursday. All 15M World ID holders and World App users are migrating to the new chain, which offers prioritized blockspace for verified humans. With partnerships from Optimism, Alchemy, Uniswap, and others, Worldchain’s launch has captured attention as it prioritizes anonymous identity verification and financial access in emerging markets. However, given that World accounted for a large portion of transactions on Optimism, Worldchain’s launch may be a hit to the Superchain’s heart. 5️⃣ GOAT Emerges as AI Memecoin Memecoin mania took a new turn with the rise of GOAT, an AI-driven token with a narrative that seems ripped from the far side of the singularity. The AI agent “Terminal of Truth” (ToT) endorsed the coin, amassing 1.93M tokens in the process. With a growing base of followers who enjoy ToT’s vision of a bizarre, meme-based religion and mayhem, GOAT has torn to an ATH of $441M in just a week. Truth_terminal comes from Andy Ayrey’s Infinite Backrooms, where two AI models endlessly discuss existence and memes. Ayrey, who admitted to not being “a crypto person at all,” expressed surprise when ToT unexpectedly came to embrace crypto. FRIEND & SPONSOR: CARTESI Cartesi has a challenge for all talented devs! Try to hack their Honeypot dApp. Compete in a bug-bounty initiative to test, scrutinize, and refine the underlying code of Cartesi Rollups! Crack the Honeypot .  .  . WEEKLY ROLLUP Election Pump? With 17 days to the election, Trump launched WLFI token sales, while Kamala’s positive crypto comments sparked reactions. Polymarket shows Trump at 62%—can that be real? In Ethereum, despite price drops, Fuel launched a high-performance L2, and Paradigm introduced its own with Reth at the core. Meanwhile, Saylor plans a Bitcoin Bank, and Kraken is rolling out wrapped Bitcoin.. Hear all of the analysis! 👇 Watch on YouTube Listen on Spotify .  .  . GET CAUGHT UP What We Published 📰 Articles: Vana’s Blockchain: Empowering Users via Data DAOs and AI on Bankless Learn how Vana, an EVM-compatible blockchain, enables Data DAOs to empower users to own, monetize, and build AI models on their data contributions. Bankless •David C 4 Buzzy Projects Accelerating the Ethereum Virtual Machine on Bankless What Monad, MegaETH, Berachain & Sei are bringing to the EVM. Bankless •Jun Will Ethereum Remain Institutions’ Top Choice? on Bankless Breaking down the blockchain competition for TradFi’s attention. Bankless •Jonah Roberts 📺 Shows: a16z 2024 State of Crypto Report | Eddy Lazzarin & Daren Matsuoka on Bankless A16z’s Reflections on Crypto 2024 Bankless The End Of Centralized Exchanges | Kain Warwick’s Infinex on Bankless Could This Be The Binance Killer? Bankless PREMIUM: EigenLayer & The Intersubjectivity Frontier | Sreeram Kannan & Hart Lambur on Bankless Understanding Intersubjectivity Bankless .  .  . GO BANKLESS Upgrade Your Experience Get the full Bankless premium experience – featuring exclusive content, ad-free podcasts, access to Token Hub, and more! Become a Citizen Manage your account Not financial or tax advice. 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