Analyses
Daily News Summary 17/9
September 17, 2024

New Update on Trump-Endorsed Crypto Project
Donald Trump, the Republican presidential candidate, was scheduled to officially launch the crypto project founded by his sons, World Liberty Financial, at 8 PM on Monday, but the event was postponed. Instead, Zak Folkman, the project leader, revealed that there will be a token, WLFI, which will only be available for sale to accredited investors. The previously leaked tokenomics were denied, with the official version stating that 63% of the tokens will be sold to the public, 17% will be reserved for user rewards, and 20% will be allocated to team members.
Bhutan Becomes the 4th Largest BTC-Holding Government
According to on-chain data, the South Asian country of Bhutan holds more Bitcoin than even El Salvador. The Arkham Intelligence platform reports that Bhutan holds 13,029 BTC (around $758 million), accumulated through Bitcoin mining operations conducted by Druk Holdings, the investment arm of the Kingdom of Bhutan, rather than assets seized by law enforcement.
USDC to Be Available Natively on Sui
Jeremy Allaire, CEO of stablecoin issuer Circle, announced that USDC will be introduced natively on the Layer-1 Sui blockchain. The integration will be implemented through the Cross-Chain Transfer Protocol (CCTP), a permissionless on-chain utility that facilitates USDC transfers between blockchain networks via native burning and minting. This partnership is expected to enhance Sui’s usability, security, and interoperability for both users and developers.
MicroStrategy Prepares for Another Bond Offering
MicroStrategy, led by Michael Saylor, has announced plans to issue $700 million worth of convertible senior notes, set to mature in 2028. Of the total proceeds, $500 million will be used to repay existing debt, while the remaining funds will be allocated to additional Bitcoin purchases and general corporate purposes.
IoTeX Partners with Polygon Labs
The decentralized physical infrastructure network IoTeX has formed a partnership with Polygon Labs to integrate its IoTeX 2.0 blockchain with AggLayer. The goal is to leverage AggLayer’s cross-chain communication and liquidity sharing, enabling IoTeX-based projects to thrive in a multi-chain environment.
WalletConnect Announces Airdrop
WalletConnect, a web3 communication protocol that connects crypto wallets with decentralized applications, has announced the launch of its native Connect Token (WCT) on the Optimism OP mainnet. At launch, 185 million tokens will be issued, and users can register for the first seasonal airdrop starting September 24. However, WCT tokens will initially be non-transferable and primarily used for governance and staking, with full functionality expected to be activated in 2025.