Trump-backed World Liberty to launch token buybacks as price drops 41%

The cryptocurrency market has faced a significant downturn, shedding $400 billion in just a week as it approaches the historically bullish month of Uptober. This sharp decline raises concerns about the sustainability of the summer rally, especially with external pressures like Trump's tariff policies and a looming $22 billion options expiry that could test the market's fragile support. Investors are left wondering if the worst-case scenario could see Bitcoin drop to $50,000, highlighting the volatility and uncertainty in the crypto space.

ByteDance is set to receive 50% of TikTok's profits in the US as part of a deal established during the Trump administration. This arrangement underscores the ongoing tensions between the US and China regarding technology and raises significant concerns about data security and foreign influence in the digital media landscape. As TikTok continues to grow in popularity, the implications of this deal could affect not only the platform's operations but also broader US-China relations.

Crypto.com’s Cronos has seen a significant decline, losing over $6 billion, or nearly 50% of its market cap, following a rally driven by news related to Trump. This sharp drop raises concerns within the community about the sustainability of demand for Cronos and the overall stability of the cryptocurrency market. Understanding these fluctuations is crucial for investors and enthusiasts alike, as they reflect broader trends and sentiments in the crypto space.

The World Liberty Project is making a strategic governance move by allocating 100% of treasury liquidity fees to buybacks and burns, which could potentially boost the long-term growth of the WLFI token. Despite a recent decline of 57% from its all-time high, this initiative aims to stabilize and increase the token's value, making it an important development for investors and the crypto community.

Recent developments, including Trump's tariffs and fluctuating GDP figures, have caused significant turmoil in the markets, leading to a decline in ETFs and a bleed in crypto assets. This matters because it reflects the ongoing economic uncertainty and the potential impact on investors' portfolios, highlighting the interconnectedness of global financial systems.

The US Senate Committee on Finance is set to hold a hearing on October 1, 2025, to discuss the taxation of digital assets, a topic that has gained significant attention in recent years. This hearing is crucial as it will bring together industry experts and tax-policy specialists to examine the current landscape of crypto taxation. With the potential for sweeping changes, the outcome could impact how cryptocurrencies are regulated and taxed in the future, making it a pivotal moment for investors and policymakers alike.

Robinhood's recent listing of the WLFI token is a significant step towards merging traditional finance with decentralized finance (DeFi). This move could reshape financial ecosystems by making DeFi more accessible to mainstream investors, potentially leading to greater innovation and investment in the sector.

Democratic senators are launching an investigation into potential ethics violations by Trump administration officials linked to major cryptocurrency deals and national security concerns. This inquiry is prompted by a New York Times report detailing two multibillion-dollar transactions with the United Arab Emirates, raising serious questions about the implications of allowing such deals. This matters because it highlights ongoing concerns about transparency and accountability in government dealings, especially in sectors as sensitive as national security and finance.

Trump's nomination for the chair of the Commodity Futures Trading Commission (CFTC) is facing challenges as reports suggest that the Winklevoss twins have lost confidence in his first choice, Brian Quintenz. With at least three other candidates now being considered, this situation highlights the complexities of political appointments in regulatory bodies and the influence of key stakeholders in the decision-making process.

The World Liberty Financial token, associated with Trump, is currently testing a significant support level at $0.19. This price point is crucial as it could dictate the token's next major movement in the market, making it a focal point for investors and analysts alike.

In a significant move for the cryptocurrency landscape, Bithumb, South Korea's second-largest crypto exchange, has partnered with World Liberty Financial (WLFI), a venture backed by the Trump family. This partnership aims to enhance stablecoin adoption in the region, marking a pivotal moment in 2025 for both companies and the broader crypto market. The collaboration is expected to drive innovation and growth in South Korea's burgeoning crypto sector, making it an exciting development for investors and enthusiasts alike.

BounceBit Prime has achieved a significant milestone by surpassing $1.5 billion in cumulative volume, largely thanks to the support from Franklin Templeton's Benji token. This achievement is notable as it reflects growing confidence in the platform, especially with its vault reaching a total value locked of $10 million. Such developments are crucial in the ever-evolving cryptocurrency landscape, indicating a positive trend for investors and users alike.

SoftBank and Ark Invest are reportedly in talks to join Tether's significant funding round, aiming to raise between $15 billion and $20 billion for a 3% equity stake. This move could elevate Tether's valuation to $500 billion, highlighting the growing interest in stablecoins and their potential impact on the cryptocurrency market. Such investments not only bolster Tether's financial standing but also signal confidence from major players in the future of digital currencies.

Cango has successfully mined 141 Bitcoin this week, bringing its total holdings to an impressive 5,708 BTC as of September 26. This achievement is a significant step in their 2025 strategy, showcasing their commitment to expanding their cryptocurrency portfolio. The rise in Bitcoin holdings not only reflects Cango's operational success but also highlights the growing importance of cryptocurrency in the financial landscape.

The UK is embarking on an exciting new chapter in banking and digital payments with the launch of a two-year pilot program for a digital pound. UK Finance, representing over 300 financial institutions, is spearheading this initiative alongside six major banks, including Barclays and HSBC. This pilot aims to test tokenized deposits in pounds, which could revolutionize how we think about money and transactions. It's a significant step towards modernizing the financial landscape and could enhance the efficiency and security of payments in the UK.

SWIFT has launched an exciting blockchain test run with major global banks like BNY Mellon and BNP Paribas, aiming to migrate its core messaging system to ConsenSys' Ethereum layer-2, Linea. This initiative is significant as it showcases the growing adoption of blockchain technology in traditional banking, potentially enhancing transaction efficiency and security. As financial institutions explore innovative solutions, this collaboration could pave the way for a more interconnected and modern banking system.

Bitcoin and several major altcoins are attempting to initiate a recovery, but analysts suggest they may face considerable selling pressure as prices rise. This situation is crucial for investors to monitor, as it could indicate the market's overall health and potential future trends.