World Liberty Financial’s WLFI token, promoted by Donald Trump’s family, stumbled after its launch on Binance and Coinbase. 

Polymarket’s U.S. plans advanced after the Commodity Futures Trading Commission issued a staff no-action letter to QCX, the regulated platform it acquired in July. 

Ondo Finance has unveiled Ondo Global Markets, a service offering tokenized versions of more than 100 U.S. stocks and ETFs on Ethereum. The product, available to investors outside the United States, is backed by securities held with U.S.-registered broker-dealers.

Top stories in the Crypto Roundup today:

• Trump-Linked WLFI Token Slides 25% on Debut
• CFTC Issues No-Action Relief to Polymarket’s QCX, Clearing Path for U.S. Return
• Ondo Finance Brings Tokenized U.S. Stocks, ETFs to Ethereum for Overseas Users

Trump-Linked WLFI Token Slides 25% on Debut

World Liberty Financial’s WLFI token, promoted by Donald Trump’s family, stumbled after its launch on Binance and Coinbase. 

The price sat about 25% below its opening level, putting the market value near $4.5 billion. Hours before trading, the issuer said 25 billion tokens would circulate, far above the ~5 billion some traders expected.

To stabilize the market, the team burned 47 million WLFI, about $11 million at recent prices, and proposed destroying WLFI collected as fees to reduce supply over time. 

Billions of tokens are set to go to Alt5 Sigma, a publicly-traded crypto payments firm affiliated with some of the principals involved in World Liberty Financial. The firm agreed to hold 7.5% of WLFI’s supply.

CFTC Issues No-Action Relief to Polymarket’s QCX, Clearing Path for U.S. Return

Polymarket’s U.S. plans advanced after the Commodity Futures Trading Commission issued a staff no-action letter to QCX, the regulated platform it acquired in July. 

The relief lets QCX operate in defined ways without enforcement while easing certain recordkeeping and reporting tied to event contracts.

Polymarket runs prediction markets, where users trade “yes” or “no” contracts on outcomes like elections or policy moves. QCX gives it a licensed venue to list those markets for U.S. users. The company left the U.S. in 2022 under regulatory pressure; the acquisition is its route back.

Ondo Finance Brings Tokenized U.S. Stocks, ETFs to Ethereum for Overseas Users

Ondo Finance has unveiled Ondo Global Markets, a service offering tokenized versions of more than 100 U.S. stocks and ETFs on Ethereum. The product, available to investors outside the United States, is backed by securities held with U.S.-registered broker-dealers.

The tokens, covering companies like Apple and Nvidia along with popular ETFs such as QQQ, can be minted and redeemed during trading hours and moved between wallets, exchanges and DeFi protocols. Infrastructure partners include BitGo, Ledger and Chainlink.

The firm said it will grow the selection to over 1,000 assets in 2025 and extend support to Solana and BNB Chain using LayerZero. 

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