Trump-Linked WLFI Offers "Direct Access" for $5M Stake | CoinDesk Daily

0:00World Liberty Financial offers direct access to the team for $5 million dollars and blockfills, files for bankruptcy. This is Coindesque Daily, I'm Jen Snassy. Discover Nexo, the premier digital wealth platform, now in the US. Get started today at nexo.com slashcoindesk. World Liberty Financial just approved a proposal that effectively puts a $5 million dollar price tag on direct access to its team, the DeFi protocol linked to the Trump family past a governance vote introducing a three-tier staking system for its WLFI token. To reach the highest tier, users must lock up 50 million tokens, roughly a $5 million dollar investment, and return their promised direct access to the WLFI team for partnership discussions. A spokesperson clarified that direct access refers to the business development team, not necessarily founders like Eric or Baron Trump. Still, the requirement acts as a major financial filter.

1:00WLFI says it's overwhelmed with partnership requests and the $5 million dollar threshold is meant to ensure only serious, well-capitalized players get a seat at the table. The proposal passed with 99.12 percent support, though more than 76 percent of the voting power came from just 10 wallets. Chicago-based crypto firm Blockfills filed for chapter 11 bankruptcy in Delaware over the weekend. According to court filings, the company reports assets of up to $100 million dollars, but liabilities that could reach as high as half a billion. The filing comes after a difficult few weeks for the lender, Blockfills halted customer withdrawals in February after suffering roughly $75 million dollars in losses. This situation escalated last week when a federal judge issued a temporary restraining order against the firm following a lawsuit from Dominion Capital. Dominion alleges Blockfills co-mingled client funds and concealed significant losses. And Bitcoin is shaking off global market turmoil and flashing a bullish signal for the first time in two months. The cryptocurrency is broken above its 50-day moving average,

2:03rising more than 2 percent to around $73,400. That level is a key indicator of medium-term momentum and the move suggests Bitcoin is showing resilience despite recent volatility in Asian equity markets and ongoing geopolitical tensions in the Middle East. But the next major test could come at $75,000. Analysts say market makers are currently holding billions of dollars in net short gamma positions around that level. If Bitcoin approaches $75,000, those firms may need to buy as prices rise to rebalance their exposure, a move that could inject additional volatility into the market. That's it for CoinDesk Daily. Get more updates on CoinDesk.com and we'll see you next time. Introducing Nexo, the premier digital wealth platform, earn interest, borrow, and exchange crypto all in one platform. Now in the US, with 30 days of exclusive benefits, start today at nexo.com slash coin desk.