The Block
Quick Take Donald Trump helped unveil a few details of his highly anticipated cryptocurrency project, World Liberty Financial, on Monday night. The Republican presidential nominee said crypto is “big and yet it’s a fledgling compared to what it will be.” World Liberty Financial will sell a non-transferable governance token called WLFI and plans to limit participation to accredited investors.
Quick Take The SEC said Flyfish “conducted an unregistered offering of crypto asset securities,” when it sold 1,600 NFTs to U.S. investors. Republican Commissioners Hester Peirce and Mark Uyeda said the settlement “undermines trust in Chef SEC.”
Quick Take Donald Trump, who is slated to announce the official launch of the crypto project at 8 p.m. on Monday, has said he is “embracing the future of crypto.” TD Cowen Washington Research Group’s Jaret Seiberg said the project could be a “significant political problem for the crypto sector.”
MicroStrategy is selling up to $700 million in senior convertible notes to fund additional bitcoin purchases and buyback debt.The firm holds about $14 billion worth of bitcoin, including a $1 billion purchase last week.
Quick Take The 7DMA for daily staker revenue on Ethereum fell to $5.44 million last Thursday, recording its lowest figures since the middle of February. The following is an excerpt from The Block’s Data and Insights newsletter.
Bitcoin and ether dip after Friday’s rally amid reports of a second assassination attempt on Donald Trump.The Federal Reserve is now expected to cut rates by 50 bps this week, giving a boost to bitcoin, according to a Bitwise analyst.Former Celsius CEO Alex Mashinsky seeks testimony from six witnesses as he faces 115-year prison sentence.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Quick Take Multicoin Capital led a $10 million Series A financing round in Permissionless Labs, with Solana Ventures and Solana co-founder Anatoly Yakovenko also participating. Permissionless Labs is a core contributor to Pipe Network, a permissionless content delivery network (CDN) on Solana.
Quick Take A new iteration of the popular mobile game Flappy Bird is launching on Telegram thanks, in part, to Notcoin’s creators. Flappy Bird’s original creator has nothing to do with the relaunch of the game, according to a report.
Quick Take Former CEO Alex Mashinsky did not mean to harm anyone, his lawyers said in a memorandum filed on Friday. Mashinsky’s lawyers asked the New York district court to allow for witnesses, ranging from the crypto lender’s chief financial officer to chief revenue offer, to testify in his criminal trial.
Quick Take DeFi protocol Delta Prime suffered a $6 million exploit after an administrator lost control of the private key. The team says the risk is contained and only affected its deployment on Arbitrum.
