Latest news with #Permissionless
Arabian Post
29-06-2025
- Business
- Arabian Post
UAE Fund Backs Trump-Linked Crypto with $100m Governance Stake
Arabian Post Staff -Dubai A UAE-based investment vehicle, Aqua 1 Foundation, has acquired $100 million in governance tokens from World Liberty Financial, the cryptocurrency venture affiliated with the Trump family, making it the most prominent publicly disclosed investor to date. The move, confirmed by both parties, signals a strategic push to accelerate the creation of a blockchain-based financial ecosystem built on stablecoins and tokenised real-world assets. Aqua 1 described the allocation of governance tokens—known as WLFI—as an opportunity to contribute to decisions on the platform's development. Although WLFI is currently non-transferable, World Liberty has confirmed it is 'working behind the scenes' to enable trading functionality. At the Permissionless conference in Brooklyn, WLF co‑founder Zak Folkman stated that WLFI could soon be tradable, with the stablecoin set for an independent audit 'within days'. ADVERTISEMENT Dave Lee, founding partner at Aqua 1, emphasised the synergy expected from the partnership, citing plans to jointly identify and foster high‑potential blockchain initiatives. The intention is to integrate WLF's USD1 stablecoin infrastructure into global commercial payments and treasury systems. The move marks Aqua 1 as a key bridge between traditional finance and decentralised finance, aligning with its ambition to extend influence into South America, Europe, Asia and Middle Eastern markets. Despite its substantial investment, Aqua 1 has maintained a low profile. Reports indicate its web presence is minimal—with just a handful of social media posts and evidence of a website only registered on 28 May. WLF, launched in late 2024 by Donald Trump, three of his sons and associate Steve Witkoff, has raised well over half a billion dollars through token sales. The Trump family controls a significant stake—around 60% ownership and 75% of net token sales revenue—raising concerns over conflicts of interest. Democratic lawmakers and ethics watchdogs have repeatedly voiced apprehension that these financial interests may influence policy, amid reports that WLF proceeds reached hundreds of millions of dollars. WLF's stablecoin, USD1, is 100% backed and supported by U.S. dollar reserves, including Treasuries, and has already drawn sizeable institutional backing. In May, an Abu Dhabi firm used USD1 in a $2 billion transaction with Binance, while WLF prepares to publish an attestation of its stablecoin reserves as part of forthcoming audit disclosures. The institutionalisation of WLFI governance aligns with the platform's roadmap, which includes plans to launch a consumer‑friendly mobile app to streamline access to its digital ecosystem. The expected transition to transferable governance tokens is likely a precondition to broader distribution and potential listings on third‑party exchanges. Regulatory scrutiny remains a key challenge. Critics argue that WLF's entanglement of private financial interests with public office contradicts norms protecting against foreign influence. At least one senator has raised concerns after the Abu Dhabi stablecoin transaction. Additional worries stem from the Trump administration's shift toward crypto deregulation, a change that coincides with WLF's rise, prompting concerns from ethics groups about policy bias favoring the platform. That overlap of influence has fuelled broader debates in Congress. Legislators have begun proposing amendments such as the GENIUS Act, which would regulate stablecoins more robustly, and restrictions on digital asset investments by sitting presidents. Observers note that WLFI's new status and Aqua 1's involvement could sharpen the need for regulatory clarity and transparency around token governance. Meanwhile, WLF's expansion plans are proceeding apace. The platform is reportedly developing a Middle East‑based Aqua Fund to support digital economy projects leveraging blockchain and artificial intelligence. The collaboration is expected to produce tokenisation platforms such as BlockRock, targeting institutional asset-digitisation markets. Aqua 1's governance stake marks a turning point. By becoming the lead institutional backer, the foundation now holds significant influence over decisions shaping WLF's evolution. With token transferability and app launches on the horizon, WLFI stands poised for a new phase of adoption—though progress will likely be watched closely by regulators and investors alike.
Bloomberg
25-06-2025
- Business
- Bloomberg
Trump's World Liberty Token Draws Accumulators' Attention, Co-Founder Says
World Liberty Financial Inc., the Trump family affiliated decentralized finance platform, is getting a 'lot of interest' from public companies wanting to use its token as a treasury asset, according to co-founder Zak Folkman. Folkman made the comments at Permissionless, a crypto industry conference in New York on Wednesday. He also announced the launch of a new World Liberty Financial App.
Business Insider
12-06-2025
- Business
- Business Insider
BNB Chain Announces BNB Super Meetup at Permissionless in New York
Dubai, UAE, June 12th, 2025, Chainwire BNB Chain, the community-driven blockchain ecosystem, today announced it will host its flagship BNB Super Meetup in New York City on June 25, 2025, during Permissionless, bringing together builders, founders, and the broader Web3 community for an evening of meaningful connection and collaboration. Kicking off at 5:30 PM local time, the meetup will welcome leading protocols, infrastructure providers, ecosystem partners, and early-stage projects from across the blockchain space. As part of BNB Chain's mission to support the next generation of Web3 innovators, the event will spotlight emerging trends, standout projects, and key players shaping the future of the industry. Curated panels will explore some of the most relevant topics in Web3 today, including AI, DeFi, and more. Attendees will hear directly from leaders across the BNB Chain ecosystem, with confirmed participants including Kraken, Paimon, YZi Labs, Super Protocol, and more. Attendees can keep updated here. BNB Super Meetups are designed to support projects at every stage, from ideation to deployment, by offering direct access to the BNB Chain ecosystem and spotlighting programs such as grants, Launch-as-a-Service, and incubation. The New York edition is expected to attract developers, investors, infrastructure providers, and curious newcomers eager to explore new opportunities. Entry is free and open to all, with RSVPs required to unlock venue details. Space is limited and admission will be granted on a first-come, first-served basis. Participants can follow @BNBChain on X for the latest agenda and speaker updates and register here to reserve their spot. About BNB Chain BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of: BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem's governance chain. opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds. BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces. Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program. Tooling, such as the AI Solution, is also available for developers to explore. BNB Chain
