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...

1. Trump Ordered the Imposition of Tariffs, Causing the Cryptocurrency Market to Plunge Amid Risk Aversion link On Monday, Trump signed an order to impose a 25% tariff on imports from Mexico and Canada, and a 10% tariff on imports from China. The order was set to take effect on Tuesday. The cryptocurrency market showed a risk-averse trend and dropped significantly, with BTC recently falling 8% to $92,798.34. Jeff Park, the head of alpha strategy at Bitwise, said that due to the eventual weakening of the US dollar and US interest rates, the ongoing tariff war would be “amazing” for Bitcoin in the long run. On Monday, Ben Zhou, the CEO of Bybit, tweeted, “The real total liquidation amount in the cryptocurrency market today is far more than $2 billion. According to my estimate, it should be at least between $8 billion and $10 billion. The liquidation amount of Bybit in 24 hours alone reached $2.1 billion. The 24-hour liquidation amount of Bybit recorded on Coinglass is about $333 million,...