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Crypto Whale Data

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Crypto Whale Data

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  • World Liberty Financial buys $112.8 million in crypto on Trump's first day in office
  • Trump's World Liberty buys $25 million of tokens, including Link, Tron, Aave and Ethena World Liberty, a crypto project affiliated with President-elect Donald Trump, has continued to diversify its treasury holdings away from stablecoins and into more speculative tokens. The treasury swapped around $24.6 million of the stablecoin USDC for Ether (ETH), Wrapped Bitcoin (WBTC), Tron (TRX), Link (LINK), Aave (AAVE) and Ethena (ENA), according to blockchain data platform Arkham. It has purchased $4.7 million of each of the tokens except for Ethena, where it has only bought $2.3 million worth so far, according to block explorer Etherscan. The treasury has been buying Ether on a constant basis over the last few months and currently owns 43,000 ETH with a current value of $143 million — its largest holding, even above stablecoins. It holds $96 million of the stablecoin Tether (USDT) and $56 million of the stablecoin USDC. Beyond this, the project's treasury now holds roughly $6.5 million of Wrapped Bitcoin, Aave and Link, plus $4.6 million of Tron and $3 million of Ethena. The project has not yet bought any of the official Trump memecoins, such as Donald Trump's Official Trump and Melania Trump's MELANIA. In November, Tron founder Justin Sun bought $30 million of WLFI tokens and then was swiftly appointed as an advisor to the project. Sun is now also associated with Wrapped Bitcoin after his firm BiT Global recently became a key stakeholder in the project.
  • World Liberty Financial sees surge in token sales following Donald and Melania Trump memecoin launches World Liberty Financial, the DeFi project associated with President-elect Donald Trump, saw surges in governance token sales after Donald and Melania Trump launched their respective memecoins ahead of Trump’s inauguration on Monday. The project announced late Sunday night on X that it has “completed” its mission and sold 20 billion tokens or 20% of the 100 billion token supply. The project has now opened up the sale of an additional 5 billion tokens or 5% of the supply. “Due to massive demand and overwhelming interest, we’ve decided to open up an additional block of 5% of token supply,” the project said. World Liberty Financial’s governance token WLFI saw its cumulative sales reach $254 million late Sunday, up from around $91 million a day earlier, according to Dune Analytics data. Onchain data shows the WLFI token has over 34,000 holders among over 44,500 transactions. Notably, Tron Founder Justin Sun said in an X post on Sunday that Tron DAO has invested an additional $45 million in WLFI, bringing the total investment to $75 million. Sun became an advisor to World Liberty Financial in November after his project poured a $30 million investment into WLFI. The Sunday surge in WLFI token sales followed the launches of Donald Trump’s and Melania Trump's memecoins. Over the weekend, the President-elect launched an “Official Trump” memecoin, with Melania Trump soon following suit with her memecoin “MELANIA.” The Official Trump token quickly surged to a high of around $72 and is trading at $44 at the time of writing. Its market cap currently stands at $8.8 billion, with a $44.1 billion fully diluted valuation (FDV). The MELANIA token’s FDV reached $7.6 billion as it continues to see wild fluctuations in price, according to DEXscreener.
  • Trader who spotted Trump memecoin early turned $1 million into $90 million When President-elect Donald Trump posted about the launch of a memecoin on the final business day before his inauguration, many feared that he had been hacked and it was fake. But one trader aped in regardless. Within two minutes of the post going out on Truth Social, this trader swapped 1.09 million USDC for 5.7 million TRUMP tokens on the Meteora market, as highlighted by onchain analysts LookOnChain. They also paid an $85,000 tip to Jito, a Solana infrastructure company focused on MEV, a practice where blockchain users can pay more money to get their transactions through faster or at the top of blocks. Shortly afterwards, this trader sent the TRUMP tokens to another wallet, known by its Solana name ff.sol. Then the funds were split up across many other wallets. In the hours that followed, a portion of the tokens were sold for the stablecoin USDC in some of the wallets, a few also featuring other Solana names. In one wallet, some of the stablecoins were used to buy back TRUMP tokens before selling them again. LookOnChain estimates the trader sold 1.35 million TRUMP for $3.65 million in total. This leaves 4.62 million TRUMP tokens, which are currently worth $87 million, bringing the trader's total holdings of TRUMP tokens and proceeds above $90 million. The TRUMP memecoin has been on a huge rally since its launch just hours ago. The token has already reached a $4 billion market cap and broken into the top 40 tokens on CoinGecko. With a lot of the supply locked up, its fully diluted valuation is currently at $21 billion, which would rank it in the top 10 tokens if that was its current market cap. Solana-based exchange Jupiter and Meteora have both made statements confirming the legitimacy of the Trump memecoin.
  • Trump posts send 'official' $TRUMP memecoin to $9 billion market cap President-elect Donald Trump launched a Solana-based memecoin Friday night via posts on his social media accounts, three days before he takes the oath of office to become the 47th president of the United States. The memecoin quickly reached a market cap of over $9 billion, overtaking established memecoins such as Pepe and Bonk. “My NEW Official Trump Meme is HERE!” the messages read on Trump’s official Truth Social and X accounts. “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW.” Though some crypto investors initially suspected a hack, the project appears to be associated with the same entity that launched Trump's collectible NFT trading cards, CIC Digital LLC. CIC Digital LLC is fully owned by The Donald J. Trump Revocable Trust and is the entity through which Trump entered into a licensing agreement for the sale of his Trump-branded NFTs, earning more than $7 million according to a financial disclosure form. "CIC Digital LLC and Celebration Cards LLC, the owners of Fight Fight Fight LLC, will receive trading revenue derived from trading activities of Trump Meme Cards," the token's website states. The website refers to the tokens as "Trump Memes," and states the tokens "...are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type." Trump also used his Truth Social account Friday night to announce the appointment of 'Peggy Schwinn' as the Deputy Secretary of Education and to share a personal message rallying his fans as his inauguration on Monday approaches. (Trump apparently meant to announce the appointment of Penny Schwinn, but mistyped.) The token's website says there are 200 million $TRUMP tokens available on day one, with the supply growing to a total of one billion over three years. "Creators and CIC Digital" are set to receive 80% of the token over three years of tranched unlocks, with 10% allocated for "Public Distribution" and a final 10% set aside for "Liquidity." “I don't like to tweet about coins, and in no way shape or form is this a promotion,” a Jupiter Exchange dev posted on X. “But to keep people safe, this is the real Trump coin. We have approved it to the Jupiter strictlist.” Representatives for Trump could not be immediately reached for comment. Just three hours after launch, the token rocketed to a market cap of nearly $9 billion, before retreating slightly, according to on-chain data. Coincidentally, crypto firms are hosting an inaugural "Crypto Ball" Friday night in downtown Washington. The President-elect's son, Donald Trump Jr., showed up at the event, which sold tickets for $2,500 per person. Snoop Dogg also performed. "The event, which is set to feature Snoop Dogg as a musical guest, is being put on in part by David Bailey, who runs a bitcoin conference that Trump spoke at last summer," Politico reports. "Other sponsors include the Coinbase-backed advocacy group Stand With Crypto and the digital asset firms Exodus, Anchorage Digital and Kraken." Trump’s token shift A former crypto-skeptic, Trump championed himself as “the crypto president” throughout his ca campaign in 2024. He plans to issue an executive order making crypto a "national policy priority" after his inauguration on Monday, according to Bloomberg sources. The executive order aims to enhance collaboration between the government and the crypto industry through a new crypto advisory council. Notably, Trump supported the debut of World Liberty Financial, a DeFi protocol that counts former that counts the President-elect as its "chief crypto advocate. Pundits decried World Liberty Financial's lackluster sales, with Bitwise CIO Matt Hougan calling it “a meme masquerading as a utility project.” "Everything this man touches is a grift, and his newfound policy stance is no different," crypto-friendly Democratic Rep. Wiley Nickel of North Carolina told The Block last September. "For those of us who have worked to advance crypto innovations through real bipartisan action, Trump’s involvement does nothing but harm serious efforts to build a secure and regulated future for digital assets." Memecoins inspired by Trump had been surging higher over the past few weeks but were selling off Friday night, with several down between 20-50%.
  • Digital Currency Group agrees to pay $38 million to settle with SEC over negligence Global investment firm Digital Currency Group agreed to settle and pay $38 million to the U.S. Securities and Exchange Commission on Friday over allegations that it misled investors via crypto lender Genesis Global Capital, LLC. The SEC said that one of Genesis' largest borrowers was asset hedge fund Three Arrows Capital and said on June 13 that the fund "failed to meet a margin call." "In mid-June 2022, a large borrower defaulted on a margin call, which compromised GGC’s business," the SEC said in a filing on Friday. "Yet, Digital Currency Group negligently engaged in conduct that misleadingly downplayed the impact of that default and overstated what Digital Currency Group did to help GGC in the aftermath." Former Genesis CEO Soichiro "Michael" Moro also agreed to settle with SEC and pay $500,000 over charges involving negligence. DCG has been in the crosshairs of regulators for years. The New York State Attorney General The NYAG sued crypto exchange Gemini, crypto lender Genesis and its parent company DCG in October over the Gemini crypto lending program. At the time, James said the three entities defrauded more than 29,000 New Yorkers of more than $1 billion. James also said DCG and Genesis "disguised $1.1 billion in losses through a months-long campaign of misstatements, omissions, and concealment." Genesis filed for bankruptcy in 2023 and completed its bankruptcy restructuring in August 2024. When filing for bankruptcy, Genesis disclosed it had over 100,000 creditors and had as much as $10 billion in liabilities. It owed approximately $3 billion to its top 50 creditors, including Gemini, asset manager VanEck and trading firm Cumberland.
  • Wintermute sees OTC volume quadruple due to ‘unprecedented’ institutional demand Crypto market maker Wintermute said its over-the-counter trade volumes quadrupled in 2024, largely driven by the increase in institutional demand for crypto. The company said in its year-end report that its OTC volumes rose by 313% last year, which exceeds the 142% yearly growth seen in the overall crypto exchange market. The number of trades jumped 250% compared to 2023, the report added. According to Wintermute, a single-day high for OTC trade volume last year was worth $2.24 billion. This marked a significant increase from the $2 billion record set over an entire week in 2023. The growth signifies increased participation from institutional investors, as key developments — such as the approval of spot crypto ETFs and growing political support for clearer regulations — helped lower the barriers for traditional players, according to the report. “This regulatory clarity catalyzed unprecedented institutional engagement and capital inflows, fostering a rapidly growing trading ecosystem that increasingly interconnects with traditional finance,” Wintermute said. Wintermute’s report also found that the OTC derivatives volume rose by 300%, as institutions sought more sophisticated instruments for yield and risk management. Meanwhile, Wintermute said traditional finance players are showing more interest in memecoins, which saw a meteoric rise in 2024. The share of memecoins in Wintermute’s OTC spot volume grew to 16.2% last year from 7.3% in 2023, while the share of major cryptocurrencies fell 58.7% from 67.9%. Bitcoin reserves and memecoin ETFs “Looking ahead to 2025, we anticipate even greater momentum as crypto integrates deeper into global financial infrastructure through ETFs, corporate holdings, tokenization, and the rise of structured products,” said Evgeny Gaevoy, CEO of Wintermute Group. The market maker’s end-of-year report predicted that 2025 would see a decline in price volatility driven by greater market participation and trade volume. It also forecasts the normalization of call skews with the rise of bitcoin and ether ETF options and other products. As pro-crypto President-elect Donald Trump takes office the coming Monday, Wintermute said it expects the new administration to reduce regulatory uncertainty for crypto by potentially classifying them as commodities. One of Trump’s more prominent crypto policy promises, establishing a national strategic bitcoin reserve, may force China, UAE and Europe to follow, Wintermute said. The company also predicted more crypto ETF products to be launched this year, including multi-asset crypto ETFs and products that mirror specific categories of crypto such as DeFi tokens and memecoins. “In 2025, a core asset manager will launch a memecoin ETF,” said Wintermute, adding that the launch of a Dogecoin ETF would be likely. On Thursday, Nasdaq filed a 19b-4 form on behalf of Canary Capital for its spot Litecoin ETF, following the issuer’s amended S-1 form filing on Wednesday. This indicates that Litecoin would likely become the first altcoin ETF of this year. “Litecoin ETF now has all the boxes checked,” Bloomberg Senior ETF Analyst Eric Balchunas wrote on X. “I don't see any reason why this would be withdrawn either given [the] SEC gave comments on the S-1, litecoin is seen as [a] commodity and there's [a] new SEC sheriff in town.” Disclaimer: Evgeny Gaevoy, the founder and CEO of Wintermute, previously sat on The Block’s board of directors from April 2023 to early November 2023 and remains a minority shareholder
  • 30% of Ethereum validators signal higher block gas limit, data shows Over 30% of Ethereum validators are signaling their support for an increase in the block gas limit — a critical parameter that dictates the network’s capacity to process transactions — data compiled by Ethereum Foundation researcher Toni Wahrstätter shows. Currently, the Ethereum gas limit is 30 million and one-third of validators have indicated that the Ethereum block gas limit should be raised from 30 million to 40 million gas units. Validators proposing and validating blocks can modify their node configurations to signal their support for a higher limit without requiring a hard fork. Once more than 50% of validators approve, the block gas limit will automatically adjust to the next agreed-upon level, targeted at 40 million. Ethereum co-founder Vitalik Buterin also recommended this 33% increase last year. Recognizing the need for increased capacity, an initiative known as “Pump the Gas” emerged last year, advocating an increase in the gas limit. Led by Ethereum developer Eric Connor and former MakerDAO head of smart contracts Mariano Conti, it aims to educate the Ethereum community about the gas limit and its role in improving Ethereum scaling. In the Ethereum blockchain, “gas” is the fundamental unit to measure the computational effort required to execute transactions or smart contracts. Every operation performed on the Ethereum network, from simple token transfers to complex smart contract interactions, consumes a certain amount of gas. This mechanism ensures that users pay for the resources they consume and prevents malicious actors from overloading the network. As such, the gas limit defines the maximum amount of gas all transactions can consume within a single block. This limit is a critical safeguard against network congestion and potential denial-of-service attacks. The timeline for this gas limit increase is unclear. Following the implementation of proto-danksharding (blobs) in last year's Dencun upgrade, the urgency to raise the gas limit has somewhat decreased. The addition of blobs has eased some scalability issues by offering a new approach to data storage and management, which is particularly useful for Layer 2 rollups. Nonetheless, if Ethereum's demand for decentralized applications grows over time, an increase in the gas limit will become necessary.
  • Trump's return to Washington kicks off flurry of crypto-related activity, IRS challenges and focus on crypto debanking The next few days and weeks are shaping up to be a whirlwind as the Trump administration returns to Washington, D.C. with plans to issue digital asset-related executive orders and as lawmakers are set to focus on crypto debanking. Multiple crypto organizations are also hosting parties in Washington over the next week to embrace the incoming administration and lawmakers. BTC Inc. and Stand with Crypto are hosting the Inaugural Crypto Ball on Friday, where partygoers can "enjoy cocktails and hors d'oeuvres" while celebrating Trump's inauguration. Coinbase, Solana, MetaMask and Robinhood Crypto are sponsoring the event, according to its website. The week of Trump's inauguration, The Digital Chamber and the Constellation Network are hosting a "Crypto Welcome: The 119th Congress Kickoff." After the parties wrap up, expect a flood of hearings, executive orders and nominations involving crypto. Here's how the first part of 2025 is likely to shake out: New challenges First up, lawmakers will likely challenge a controversial tax rule in the coming days that requires brokers in decentralized finance to report on gross proceeds from digital asset sales. The Internal Revenue Service finalized that rule in late December and received pushback from some in the crypto industry who argue that crypto differs from traditional assets as it's not always obvious in DeFi who or what entity would collect and disseminate user data. In a letter to the Treasury in December, some lawmakers slammed the ruling, calling it an "attack on digital assets. " There will be an update from Congress this week on that, likely a resolution under the Congressional Review Act to overturn the rule, said Ron Hammond, senior director of government relations at the Blockchain Association, in an interview with The Block. The Congressional Review Act, or CRA, was enacted in 1996 and can be used by lawmakers to "overturn certain federal agency actions," according to the Congressional Research Service. That process was used last year in an attempt to overturn the U.S. Securities and Exchange Commission's Staff Accounting Bulletin 121, or SAB 121, and was later vetoed by President Joe Biden. That bulletin requires firms that custody cryptocurrencies to record their customers' crypto holdings as liabilities on their balance sheets, and brought concerns among those in the crypto industry. Executive orders Trump is poised to issue executive orders on his first day that could include creating a crypto council and ensuring that firms have access to banks, according to Reuters. The Washington Post reported on Monday that Trump could also issue executive orders that encompass repealing the U.S. Securities and Exchange Commission's controversial crypto accounting guidance, SAB 121. It is unclear whether a crypto executive order will come to fruition on Jan. 20, the day of Trump's inauguration, or within the first week, Hammond said. That executive order is likely to include the establishment of a crypto council that could have anywhere between 10 and 100 members. Those members will presumably be crypto executives, but those decisions will be up to the firms to pick who will represent them in the council, Hammond said. "It's unclear at the moment what that's going to look like, but the EO will be important for that," he said. Hearings With both the Senate and the House having a Republican majority, crypto is expected to come into focus as lawmakers gear up for hearings on crypto debanking, stablecoins and regulating the industry at large. Debanking is likely to be the hot topic, Hammond said. Some in the crypto industry have accused the Biden administration of blocking crypto from banking services, labeling the move "Operation Choke Point 2.0. " This moniker alludes to Operation Choke Point 1.0, a 2013 U.S. Department of Justice Initiative that sought to limit banking services for industries considered high-risk for fraud and money laundering, including payday lenders and firearm dealers. Federal agencies asserted that they do not discourage financial institutions from working with crypto. In the 2024 Risk Review report, the Federal Deposit Insurance Corporation and other agencies "continue to emphasize that banking organizations are neither prohibited nor discouraged from providing banking services to customers of any specific class or type." Newly picked House Financial Services Chair French Hill (R-Ark.) has vowed to investigate debanking and said his committee would take a "strong position." Hill plans to focus on crypto debanking, market structure and stablecoins, a source familiar with the House Financial Services Committee told The Block. Hearings around stablecoin and crypto market structure bills could start to crop up closer to March, Hammond said. Senate Banking Committee Chair Tim Scott (R-S.C.) laid out his committee's priorities on Wednesday. These include bolstering access to capital and creating a regulatory framework for digital assets. "The committee will also foster an open-minded environment for new, innovative financial technologies and digital asset products, like stablecoins, that promote financial inclusivity," Scott said in a statement. Both the House Financial Services Committee and the Senate Banking Committee are integral in starting hearings, discussions and potential votes on future crypto legislation. Nominations Nominations for Trump's picks to lead key agencies are starting this week and will continue garnering attention. Hedge fund manager Scott Bessent's nomination hearing to become the U.S. Secretary of Treasury is slated for Thursday. Bessent, tapped by Trump in late November, has spoken positively about crypto. Bessent told Fox Business in July that he was "excited about the president's embrace of crypto." Trump later picked crypto-friendly former regulator Paul Atkins to lead the SEC. The agency is likely to look very different following a shakeup in leadership and the departure of Chair Gary Gensler, who had a tense relationship with key players in the crypto industry. The announcement of Atkins' nomination hearing could come in the next few weeks and then take place in March, depending on floor time, Hammond said. "It's kind of hard to predict," Hammond said
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