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Justin Sun’s Tron Acquires $30M in Trump-Backed World Liberty Financial Tokens
Tron founder Justin Sun announced a $30 million investment in World Liberty Financial (WLFI) tokens, the crypto project backed by U.S. President-elect Donald Trump, making Tron its largest investor. Sun praised Trump's role in positioning the U.S. as a blockchain hub, noting Bitcoin's recent price surge following Trump's reelection. Despite WLFI's initial lukewarm reception, co-founder Zak Folkman highlighted growing momentum and optimism for the project’s future. This move follows Sun’s recent election as prime minister of Liberland, a micronation that has adopted Bitcoin as its official currency.
Binance Introduces BFUSD, a Yield-Generating Margin Asset with Competitive APY
Binance has unveiled BFUSD, a reward-bearing margin asset designed to generate passive returns while serving as collateral for USDⓈ-Margined Futures trading. BFUSD, launching Nov. 27, promises a base APY and a higher "boosted APY" for active traders, with historical yields ranging from 12% to over 47%. Binance assures that BFUSD’s APY will never drop below zero, leveraging a reserve fund seeded with 1 million USDT to cover negative funding rates. While BFUSD is not a stablecoin, it can be redeemed for USDT and will operate exclusively within Binance’s ecosystem. Initial transactions will carry no fees during a promotional period running through Dec. 26, with $100,000 in bonus rewards up for grabs.
Ripple Unveils Tokenized Money Market Fund on XRP Ledger
Ripple announced the launch of a tokenized money market fund on the XRP Ledger, enabled through a partnership with FCA-regulated digital asset exchange Archax. The fund, part of abrdn's $3.8 billion US Dollar Liquidity Fund (Lux), marks the first tokenized money market fund on XRPL. Ripple and abrdn executives highlighted the potential for blockchain to enhance efficiency and utility in asset management, aligning with forecasts of the tokenized asset market reaching $16 trillion by 2030.
Trading Desk Insights
Bitcoin has taken a notable step back from the highly anticipated $100,000 milestone, with traders locking in profits from its impressive post-election rally. A closer look at the Coinbase premium—an indicator of institutional activity—reveals a recent trend of trading at a discount. This hints at softer demand from U.S. buyers. Despite spot trading volumes more than doubling compared to the past few months' average, there’s been a clear decline since BTC hit $90,000, a sign of potential bearish divergence.
In the options market, sentiment has shifted. The once-dominant call bias has cooled off, and short-term call options expiring this Friday are now priced lower than their put counterparts. This has flipped the risk reversal into negative territory—the first such reading in over a month—suggesting a growing appetite for protective strategies.
Altcoins aren’t escaping the broader pullback either. Meme coins have been hit hardest, with PEPE, WIF, and POPCAT tumbling 30-40% from their recent peaks. Among major players, DOT surged over 75% since last Friday, while SOL retreated from its record high of $265.
Meanwhile, traditional markets are grappling with uncertainty. S&P 500 futures have been choppy as traders weigh potential fallout from President-elect Donald Trump's proposed tariffs—25% on Mexican and Canadian imports and an additional 10% on goods from China. Investors are also eyeing the Federal Reserve's meeting minutes, set for release at 2 p.m. ET, for clues on monetary policy. With the U.S. market closed Thursday for Thanksgiving and an early close Friday, expect trading activity to remain subdued.
Crypto Charts
Disclaimer
This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
The information on which the analysis is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, company website, company white paper, pitchbook and any other sources. While Secure Digital Markets has obtained data, statistics, and information from sources it believes to be reliable, it does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.
Unless otherwise provided in a separate agreement, Secure Digital Markets does not represent that the report contents meet all of the presentation and/or disclosure standards applicable in the jurisdiction the recipient is located. Secure Digital Markets and their officers, directors and employees shall not be responsible or liable for any trading decisions, damages or other losses resulting from, or related to, the information, data, analyses, or opinions within the report.
Crypto and/or digital currencies involve substantial risk, are speculative in nature and may not perform as expected. Many digital currency platforms are not subject to regulatory supervision, unlike regulated exchanges. Some platforms may commingle customer assets in shared accounts and provide inadequate custody, which may affect whether or how investors can withdraw their currency and/or subject them to money laundering. Digital currencies may be vulnerable to hacks and cyber fraud as well as significant volatility and price swings.
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