
In the latest developments from the crypto world, World Liberty Financial has denied allegations of token swap activities amid market turbulence following US tariffs. The company, reportedly linked to Donald Trump, emphasized that it has not sold its WLFI tokens and is merely reallocating its assets for business purposes. This statement comes in response to reports suggesting a planned $10 million token sale with other blockchain projects.
Simultaneously, the crypto market has faced severe disruptions, with Bybit’s CEO estimating up to $10 billion in liquidations as the market faced a sharp downturn. The correction was partly driven by macroeconomic concerns after President Trump imposed tariffs on imports from China, Canada, and Mexico. These developments led to significant losses in major altcoins, with Ether and others experiencing double-digit declines. Ether’s price dropped 16% in a single hour, highlighting the intensified volatility and declining investor confidence in the current market environment.