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Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. WLFI Burns $1.4M Tokens: Trump-linked WLFI burned $1.43M in tokens after a $1.06M buyback, cutting supply by nearly 2% annually. Despite a recent rebound, the token fell 33% last month.

2. Aster Reimburses Traders: Aster DEX refunded traders after a glitch in its Plasma futures market caused liquidations. Trading volumes then surged to $104B daily, outpacing rivals.

3. 💡Feature of the Day - Eric Trump Pushes Stablecoin: Eric Trump defended the family-backed USD1 stablecoin, calling it key to “saving the dollar.” Critics warn of conflicts of interest as Trump’s wealth rose $2.4B from crypto ventures.

   
   All this and more in today’s headlines!

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📰 News Highlights:

WLFI Burns Tokens [Source][Source][Source][Source][Source]

World Liberty Financial (WLFI), a DeFi project linked to Donald Trump, burned $1.43 million worth of tokens after repurchasing $1.06 million using fees from its liquidity pools.

The burn involved 7.89 million WLFI across Ethereum and BNB Smart Chain, with 3.06 million tokens still unburned on Solana. The move comes after WLFI’s token price dropped 33% in the past month, though it recently rebounded slightly.

The buyback-and-burn program was overwhelmingly approved by WLFI holders, with 99% supporting the plan to reduce supply and ease selling pressure. On-chain analysts estimate the program could eliminate nearly 2% of supply annually.

Meanwhile, Trump family-linked entities reportedly control about $5 billion worth of WLFI tokens following a large unlock earlier this month, sparking further scrutiny.

Aster Reimburses Traders [Source][Source][Source][Source][Source][Source]

Aster, a perpetual DEX on BNB Chain, reimbursed traders impacted by a glitch in its Plasma (XPL) futures market that temporarily spiked token prices to nearly $4.

The issue stemmed from a misconfigured index, causing unexpected liquidations and fee charges. Aster moved quickly to refund losses and compensate users, restoring confidence among its traders.

The exchange has since seen record activity, with daily trading volumes reaching $104 billion, surpassing rivals like Hyperliquid and Lighter.

Despite strong growth, concerns have surfaced over possible risks, including volume inflation linked to airdrop incentives.

💡 Feature of the Day: 

Eric Trump Pushes Stablecoins [Source][Source][Source][Source]

Eric Trump has publicly defended his family’s crypto ventures, saying stablecoins could “save the US dollar.” He pointed to USD1, the Trump family-backed stablecoin under WLFI, arguing it strengthens the dollar’s global role.

Critics, however, argue it creates conflicts of interest, with some warning Trump could seek to replace government payments with his own coin.

Lawmakers have raised alarms about the Trump family’s deep financial ties to stablecoins, noting the President’s wealth increased by $2.4 billion from crypto ventures since 2022.

Supporters like Fed Governor Christopher Waller argue stablecoins reinforce the dollar’s dominance, while skeptics fear they threaten long-term stability.

😂 Crypto Meme of the Day: 

Meme of the day provided by @everything_crypto

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com