World Liberty Financial's Token Fizzles!

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• Crypto Pundits Decry World Liberty Financial’s Lackluster Sales, Calling it a ‘a Meme Masquerading as a Utility Project’

• Bitcoin to Pump if Oil, Energy Prices Surge Amid Middle East Tension: Hayes

• Ambient Finance Recovers Domain After Major Hack

• Meme Coins Drove Tron Network Revenue to New High Over Q3: Messari

⚠️ Crypto Pundits Decry World Liberty Financial’s Lackluster Sales, Calling it ‘a Meme Masquerading as a Utility Project’

The project's public token sale only generated about $10 million on its first day.

• The project’s ‘gold paper’ indicated that the Trump team hoped that the WLFI token sale would raise $300 million by selling 20% of the token supply.

• According to Tezos CEO Kathleen Breitman, the only distinguishing factor for WLFI is the endorsement by a presidential candidate, as it is almost too similar to other DeFi lending protocols.

• Matt Hougan pointed out that WLFI seems more like a meme project than a utility-driven DeFi initiative, and believes personality-focused approaches do not fully align with the core decentralized nature of DeFi.

📈Bitcoin to Pump if Oil, Energy Prices Surge Amid Middle East Tension: Hayes

Arthur Hayes believes that Bitcoin prices will surge if escalating tensions in the Middle East cause oil and energy prices to rise.

• Arthur Hayes predicted that the conflict between Iran and Israel could affect major oil and gas fields. This will then lead to a spike in oil prices, which will raise other energy prices as nations look for substitutes.

• Hayes believes that in this a scenario, Bitcoin's price will increase. He even drew parallels to historical commodity price surges during the 1970s oil crises.

• During the 1973-1982 oil crises, Hayes noticed that oil prices rose by 412% and gold by 380%. He now suggests that Bitcoin could react similarly to commodities in inflationary environments.

🖥️ Ambient Finance Recovers Domain After Major Hack

On Oct. 17, the front end of the decentralized trading protocol Ambient Finance was hacked.

• After the breach, the team was able to quickly regain control of the domain, but still advised users to wait for the "all clear" before they continue with normal activities.

• Security firm Blockaid identified the attacker as Inferno Drainer, which is notorious in the crypto community for stealing digital assets.

• Blockaid also revealed that the command and control server that was used in the attack was set up 24 hours before the incident, which indicates that it was very well planned.

💵 Meme Coins Drove Tron Network Revenue to New High Over Q3: Messari

Tron’s meme coin launchpad SunPump drove the blockchain’s quarterly revenue to a record high of $151.2 million.

• The meme coin craze on SunPump resulted in more than 89,000 tokens being launched between Aug. 12 and Sept. 30. This also drove a 487% increase in Tron’s DeFi transactions in Q3.

• Additionally, over 270 million TRON tokens were burned from Aug. 16 to 31, which generated almost 27% of Tron’s Q3 revenue, according to Messari.

• SunDog (SUNDOG) was the top meme coin from SunPump with its $217 million market cap. Tron Bull (TBULL) and Invest Zone (IVFUN) also saw some impressive trading activity.

👀 QUICK NEWS

• Worldcoin Unveils New Layer-2 Network ‘World Chain’

• Solv Protocol Introduces Bitcoin Staking Token on Solana

• Dogecoin Jumps 7% as Musk Touts D.O.G.E. at Trump’s Pennsylvania Campaign

• ‘High-Risk’ Crypto Loans Surge to a Two-Year High of $55M

• Montenegro to Finalize Do Kwon’s Extradition Plans by Oct.20

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