Donald Trump's World Liberty Financial has high hopes for its token sale, but as of Friday, only ~4% of the supply had sold. Limited to accredited investors due to SEC regulations, the project struggles to gain momentum, moving just $13M worth of tokens since the start of its sale on Tuesday. Some believe Trump’s core audience may not be as engaged with crypto as anticipated, with a website crash on launch day only compounding the weak performance.
2️⃣ Bitcoin Rides Uptober Surge
Like clockwork, it’s back to Uptober, with Bitcoin up another ~8% over the past week, rising to just below $69K on Friday. In that time, Bitcoin ETFs recorded their largest inflow since July, bringing in over 25,675 BTC ($1.74B) across global markets. Expectations for more Fed rate cuts, healthy economic data, and growing confidence in a pro-crypto Trump presidency have driven much of this buying spree. Bitcoin ETFs now hold an impressive 1.1M BTC, equivalent to the amount held in Satoshi's original wallet, a number that keeps growing with daily mined supply being snapped up.
3️⃣ Base Overtakes Arbitrum
Base officially surpassed Arbitrum as the top Ethereum rollup by total value locked (TVL), reaching $2.49B and edging out Arbitrum’s $2.41B. Aerodrome alone accounts for more than $1.35B of Base’s TVL, highlighting its dominance. With over 1.35M daily active addresses, Base now leads all L2s in user activity, marking a significant milestone for the chain and the Superchain overall.
4️⃣ Worldchain Goes Live
Worldchain, World’s new L2 for humans built on the OP-Stack, went live on Thursday. All 15M World ID holders and World App users are migrating to the new chain, which offers prioritized blockspace for verified humans. With partnerships from Optimism, Alchemy, Uniswap, and others, Worldchain’s launch has captured attention as it prioritizes anonymous identity verification and financial access in emerging markets. However, given that World accounted for a large portion of transactions on Optimism, Worldchain’s launch may be a hit to the Superchain’s heart.
5️⃣ GOAT Emerges as AI Memecoin
Memecoin mania took a new turn with the rise of GOAT, an AI-driven token with a narrative that seems ripped from the far side of the singularity. The AI agent “Terminal of Truth” (ToT) endorsed the coin, amassing 1.93M tokens in the process. With a growing base of followers who enjoy ToT’s vision of a bizarre, meme-based religion and mayhem, GOAT has torn to an ATH of $441M in just a week. Truth_terminal comes from Andy Ayrey’s Infinite Backrooms, where two AI models endlessly discuss existence and memes. Ayrey, who admitted to not being “a crypto person at all,” expressed surprise when ToT unexpectedly came to embrace crypto.
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With 17 days to the election, Trump launched WLFI token sales, while Kamala’s positive crypto comments sparked reactions. Polymarket shows Trump at 62%—can that be real?
In Ethereum, despite price drops, Fuel launched a high-performance L2, and Paradigm introduced its own with Reth at the core.
Meanwhile, Saylor plans a Bitcoin Bank, and Kraken is rolling out wrapped Bitcoin..
Not financial or tax advice. Bankless content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
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