Former US President Donald Trump’s symbolic launch of the World Liberty Financial token fell short of expectations, with only $12.7 million in sales on the first day, leaving $287 million worth of tokens unsold.
Investors in the crypto space are worried about Ethereum’s centralization, as two block builders produced over 88% of mainnet blocks in the first two weeks of October.
Following the lackluster launch, here are five reasons why Trump’s World Liberty Financial token crashed and burned.
A concerning trend emerged as two Ethereum block builders were responsible for 88.7% of all blocks produced on the mainnet in the past two weeks, raising fears of centralization.
Ledger users are being targeted by malicious phishing emails claiming to activate a fake security feature, Clear Signing, to steal their crypto.
A lawsuit has been filed against Jump Trading, accusing them of running a pump-and-dump scheme with a crypto game developer’s DIO gaming token.
Despite a rally in the SUI token, allegations of insider trading have surfaced as wallets associated with the ICO reportedly sold over $400 million worth of tokens during the price surge.
In the DeFi market, the majority of the top 100 cryptocurrencies ended the week in the green, with meme coin Cat in a Dog’s World (MEW) and Ethena’s Ena token seeing significant gains.
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