Trump-Backed World Liberty Financial to Launch WLFI Token Sale Ahead of 2024 Election

@newsontheblockchain, 13/10/2024

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📈 Preview On Today’s News:

1. - Trump-Backed World Liberty Financial to Launch WLFI Token Sale Ahead of 2024 Election

2. - Crypto Companies Pay Record $19 Billion in Settlements to US Regulators in 2024

3. - Russian Investigator Sentenced for Bitcoin Bribe in Major Corruption Case

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Top 10 News for today:

1)

Trump-Backed World Liberty Financial to Launch WLFI Token Sale Ahead of 2024 Election

World Liberty Financial (WLFI), a decentralized finance (DeFi) project endorsed by Donald Trump and his family, will begin a public token sale on October 15, 2024, just weeks before the U.S. presidential election. Led by Zachary Folkman and Chase Herro, the project aims to raise $300 million through token sales, with a valuation of $1.5 billion. The WLFI token will serve as a governance tool, allowing holders to vote on the protocol's initiatives. Trump's involvement includes serving as "Chief Crypto Advocate," with his sons Eric, Donald Jr., and Barron also holding key roles in the project.

• Token sale details: The WLFI token sale begins on October 15, 2024, open to anyone qualified via the whitelist, aiming to raise $300 million at a $1.5 billion valuation.

• Trump family involvement: Donald Trump is "Chief Crypto Advocate," while his sons Eric and Donald Jr. are "Web3 Ambassadors," and Barron Trump is titled "DeFi Visionary."

2)

Crypto Companies Pay Record $19 Billion in Settlements to US Regulators in 2024

In 2024, crypto companies have paid over $19 billion in settlements to US regulators, marking a significant increase in regulatory actions. The majority of this amount stems from bankruptcies, with FTX and Alameda contributing $12.7 billion to the Commodity Futures Trading Commission (CFTC) in an August settlement. This represents a 78% increase from 2023, where total settlements amounted to $10.87 billion. The uptick in enforcement, primarily due to the collapses of Celsius and Terraform Labs, underscores the US regulatory crackdown on the crypto industry. Notable settlements also include Terraform Labs' $4.47 billion settlement with the Securities and Exchange Commission (SEC) and Genesis's $2 billion agreement with the Office of the Attorney General (OAG).

• Crypto companies have paid over $19 billion in settlements in 2024, a 78% increase from 2023.

• Major settlements include FTX ($12.7B), Terraform Labs ($4.47B), and Genesis ($2B), driven by intensified US regulatory scrutiny.

3)

Russian Investigator Sentenced for Bitcoin Bribe in Major Corruption Case

A former Russian investigator, Marat Tambiyev, has been sentenced to 16 years in prison for accepting a bribe of 1,032 bitcoins, worth $65 million at the time, from hackers he was investigating. The hackers, members of the Infraud Organization, gave Tambiyev the bribe in exchange for allowing their illegal assets to remain untouched. Despite his claims of innocence, evidence found in his possession linked him to the crime. This case highlights Russia's ongoing efforts to crack down on cybercriminals, as authorities also recently arrested nearly 100 individuals involved in illicit cryptocurrency activities.

• Marat Tambiyev, a former investigator, was sentenced to 16 years for accepting $65 million in bitcoin from hackers, who were part of the Infraud Organization.

• Russian authorities continue to crack down on cybercrime, recently arresting nearly 100 individuals tied to illegal cryptocurrency transactions and cyber activities.

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