DeFi News Daily Official TheBitTimes.com

World Liberty Financial, backed by Donald Trump’s family, plans a buyback-and-burn program to shore up its price after the WLFI token plunged 23% after launch yesterday. WLFI debuted at $0.30, pegging its fully diluted value at $30 billion after it listed on crypto exchanges including Binance, OKX, and KuCoin . But the token quickly plunged, putting pressure on the project to restore confidence among investors. It’s trading down about 20% at $0.2472 as of 5:16 a.m. EST, according to CoinGecko. The governance proposal calls for fees from WLFI’s liquidity positions on Ethereum, Binance Smart Chain, and Solana to be used to buy back tokens from the open market and send them to a burn address, permanently reducing supply. The project said community and third-party liquidity providers’ fees would remain untouched. The buyback-and-burn plan is presented as a way to favor committed long-term holders while discouraging short-term speculators. The proposal has already...

Jacob Asset Management got approval from the Guernsey financial regulator in October 2021 and was set to debut on Euronext Amsterdam Exchange in July 2022. Europe’s first spot Bitcoin (BTC) exchange-traded fund (ETF) is set to debut later this year after a long delay . The Bitcoin ETF by Jacobi Asset Management — a London-based multi-asset investment platform — was set to debut on the Euronext Amsterdam exchange in July 2022.  However, unprecedented market conditions caused by the collapse of the Terra ecosystem in May 2022, as well as the FTX collapse in November, forced the asset manager to postpone the listing. The Jacobi Bitcoin ETF received approval from the Guernsey Financial Services Commission (GFSC) to launch its Bitcoin ETF in October 2021. The asset manager told the Financial Times that it has decided to launch the ETF now because it has seen a gradual shift in demand compared with 2022. The asset manager told Cointelegraph that it is still assessing the launch and will s...