Tag Archives: cointelegraph

Trump’s WLFI Ignites Centralization Risks With Asset Reallocation

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The post Trump’s WLFI Ignites Centralizaticom. The Trump family-backed crypto project World Liberty Financial has reignited concerns about its ability to freeze and reassign user funds, despite promoting itself as “community governed.” The platform said Wednesday that it will reallocate assets affected in a pre-launch phishing attack that exposed the seed phrases of what it described as a “relatively small subset” of user wallets. WLFI said the compromised wallets were targeted through “third-party security lapses,” not issues with the platform or its smart contracts. “This was not a WLFI platform or smart contract issue. Attackers gained access to user wallets through third-party security lapses,” wrote WLFI in the X post. The reallocation will only apply to users who have completed Know Your Customer (KYC) verification. Accounts belonging to users who have not completed KYC will remain frozen. WLFI first halted the affected wallets in September as it investigated the attack. 6 X post. Cointelegraph has contacted WLFI for details on the total value of affected assets. Related: Trump Organization to tokenize Maldives resort development for early investors Users split over WLFI’s control of funds Some X users cried foul after the announcement, raising concerns about the platform’s ability to freeze and reassign user funds without the necessity of a decentralized governance proposal. “I think it’s hilarious how everyone is cheering that you can rug or lock any wallet on your own protocol. The entire ecosystem is dependent on your security. Everyone will get phucked. Continue reading Trump’s WLFI Ignites Centralization Risks With Asset Reallocation→

Crypto Fear And Greed Index Falls To Lowest Score In 8 Months

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The post Crypto Fear And Greed Index Falls To Lowest Score In 8 Months appeared com. Crypto sentiment has dropped to its most fearful level in over eight months, as ongoing macroeconomic uncertainty continues to rattle market participants. However, crypto analysts are anticipating the bearish mood to be short-lived. The Crypto Fear & Greed Index, which measures overall market sentiment, posted an “Extreme Fear” score of 10 in its Saturday update, the lowest score it has seen since Feb. 27, as Bitcoin (BTC) fell below $95,000 on Friday and has yet to reclaim above $96,000 at the time of publication, according to CoinMarketCap. The February low came just days after spot Bitcoin ETFs saw their worst-ever single-day outflows of $1. 14 billion, as Bitcoin fell from $102, 000 at the start of the month to $84,000. Indicators suggests market is less bearish than previous downturns Crypto market participants use sentiment indexes to gauge the broader market’s sentiment toward the sector and inform their decisions on whether conditions favor buying or selling. The Crypto Fear & Greed Index hasn’t reached a score this low since Feb. 27. me However, Bitwise’s European head of research, Andre Dragosh, argued the situation isn’t as bleak as it may appear when compared with past downturns. “Sentiment index is bearish but less so than during previous corrections despite lower prices,” Dragosh said in an X post on Friday, pointing to Bitwise’s crypto sentiment index showing signs of reversal. “Our Cryptoasset Sentiment Index also continues to show a positive divergence,” Dragosh said. While US President Donald Trump recently signed a bill ending the longest government shutdown in US history, an event some crypto market participants had blamed for recent volatility, uncertainty persists around the US Federal Reserve’s interest-rate cut decision, which is often linked to the crypto market. Bitcoin chart signaling “potentially positive” move ahead Meanwhile, NorthmanTrader founder Sven Henrich told his 503, 400 X. Continue reading Crypto Fear And Greed Index Falls To Lowest Score In 8 Months→

Melania Trump Touts Memecoin, Silent On $10M Team Sales

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The post Melania Trump Touts Memecoin, Silent On $10M Team Sales appeared com. US First Lady Melania Trump has resumed promoting her Solana-based memecoin, MelaniaMeme (MELANIA), after months of silence, even as the project faces ongoing questions about millions of dollars in unexplained token sales. In a Thursday X post, Trump returned with an artificial intelligence-generated video promoting the Official MelaniaMeme token as the path into the future, tagging the official X account of the memecoin. However, blockchain analysts were quick to note that the promotion did not address concerns over token sales by team wallets. Just post an AI video after 10 months of silence, blockchain data visualization platform Bubblemaps said in a Thursday X post. On April 7, the team behind the MELANIA token moved $30 million worth of community funds that were quietly sold, with no explanation from the team, according to blockchain data shared by Bubblemaps. 5 million worth of tokens in the three days leading up to April 28, following a 21% price increase during the previous week. The selling patterns pointed to dollar-cost averaging (DCA), an investment strategy used to buy or sell a predetermined amount of an asset at fixed times, according to crypto intelligence platform Lookonchain. Cointelegraph has reached out to the offices of President Donald Trump and the first lady for comment. Related: Milei-endorsed Libra token was open secret in memecoin circles Jupiter Melania token down 98% from all-time high The MELANIA token has lost nearly all of its value since launching in January. The coin traded at $0. 18 at the time of writing, down more than 90% from launch and 98%. Continue reading Melania Trump Touts Memecoin, Silent On $10M Team Sales→