Trump’s Crypto Platform Launches
Donald Trump, the Republican presidential candidate, is set to launch a new DeFi platform called World Liberty Financial on September 16. In a video posted on September 12, Trump announced that he would be going live on the platform to officially launch it. The project is managed by his sons, Donald Trump Jr. and Eric Trump.
Trump stated, “We’re embracing the future with crypto and leaving the slow and outdated big banks behind.” Although there have been several cryptic posts about World Liberty Financial, it is expected to function as a DeFi platform offering crypto lending and borrowing capabilities.
Uniswap CEO Refutes Deployment Fee Allegations
Uniswap CEO Hayden Adams has publicly denied allegations that Uniswap has been charging decentralized finance protocols for deployments. On September 12, Adams clarified that neither Uniswap Labs nor Uniswap Foundation imposes fees for protocol deployments.
Adams explained that deployments are governed by decentralized votes and are based on the activity and effort required. This response came after an X user accused Uniswap of demanding $20 million for a deployment.
Sonic Blockchain Achieves 720ms Finality
The Sonic blockchain has reached a transaction finality of 720 milliseconds during its testnet phase. Finality in blockchain refers to the assurance that a transaction is irreversible once it is added to a block.
Sonic claims to be the fastest Ethereum Virtual Machine chain with this record-breaking finality. According to Andre Cronje, the CTO of Sonic Labs and creator of the Fantom Network, Sonic enables transaction finality in just over 700 milliseconds, significantly faster than most blockchains that require several additional blocks to achieve the same level of assurance.
Friend.tech Token Drops After Admin Transfer
The native token of the crypto social media platform Friend.tech saw a 26% drop following the transfer of its smart contract ownership to Ethereum’s null address. This transfer, which occurred on September 8, was intended to prevent any future changes to the platform’s fees or functionality.
Following the transfer, the FRIEND token’s value plummeted to $0.067 in just 24 hours, according to CoinGecko.
Coinbase Introduces cbBTC Wrapped Bitcoin
Coinbase has launched cbBTC, a wrapped version of Bitcoin, on the Ethereum network and its layer-2 scaling network, Base. The cbBTC token is backed 1:1 with Bitcoin held by Coinbase, with no separate order book or trading pairs on the exchange’s platform.
The system works by automatically minting cbBTC at a 1:1 ratio when Bitcoin is sent to a Base or Ethereum address. Conversely, sending cbBTC to a Coinbase address converts it back to standard Bitcoin.
DeFi Market Overview
Recent data from Cointelegraph Markets Pro and TradingView show that most of the top 100 cryptocurrencies by market cap ended the week on a positive note. BinaryX (BNX) emerged as the biggest gainer, rising over 31%, followed by Solana-based memecoin Popcat Sol (POPCAT), which saw a 28% increase.
Conclusion
This week brought several significant developments in the DeFi and crypto space. From Trump’s new crypto platform and Uniswap’s fee allegations to Sonic’s record-breaking finality and Coinbase’s new wrapped Bitcoin product, the industry continues to evolve rapidly. Stay tuned for more updates and insights in the coming weeks.
