Latest news with #CCIP
Yahoo
4 hours ago
- Business
- Yahoo
Trump Family-Backed World Liberty Financial Just Sent Everyone a (Small) Stimulus Check
World Liberty Financial, the Trump family-backed crypto firm, just dropped $47 worth of its USD1 stablecoin to each wallet that participated in its WLFI token sale. The move comes as USD1, which is pegged to the U.S. dollar and backed by Treasuries and fiat reserves, expands across blockchains as result of Chainlink's CCIP integration. USD1's market cap sits at $200 million — still small compared to Tether's USDT or Circle's USDC but notable given the Trump connection and the token's use in MGX's $2 billion investment into Binance. A $47 payout is unlikely to be a life-changing amount for token holders, but it has been enough to engage holders and bump social chatter around the project on X. As such, the transfer comes as World Liberty Financial gears up to launch its own crypto wallet in the coming months, as reported Tuesday.
Yahoo
5 days ago
- Business
- Yahoo
Chainlink Price Prediction - What could affect LINK's future price?
Chainlink price prediction factors into current mixed signals: while bullish institutional adoption supports growth, technical resistance and macroeconomic risks persist. Traders are watching the $14 level as a critical short-term pivot for LINK's next move. - Institutional adoption (SWIFT, JPMorgan, Solana CCIP) fuels demand. - Technical setup tests key support at $14; failure risks drop to $13.22. - Macro risks (Fed policy, BTC dominance) threaten altcoin liquidity Chainlink's Cross-Chain Interoperability Protocol (CCIP) went live on Solana on May 19, unlocking access to $18B+ in assets and enabling cross-chain DeFi growth. Partnerships with JPMorgan (tokenized asset transactions) and endorsement by the World Economic Forum (Chainlink) as a cross-chain standard strengthen its institutional foothold. However, a May 29 oracle glitch caused $532K in user losses, briefly eroding trust before Coinbase adopted Chainlink's Proof of Reserve system for $4.6B in cbBTC reserves. LINK trades at $14.41, below the 200-day EMA ($15.74) and testing Fibonacci support at $14.22. Key levels:- Bullish: A hold above $14 could trigger a cup-and-handle breakout toward $18-19 (AMCryptoAlex).- Bearish: A breakdown below $14 risks a drop to $13.22 (May 30 low) or $10.12 (CoinCodex correction forecast).The MACD histogram (-0.176) and RSI (45.95) show weak momentum, but whale transactions surged 299% to $101M on May 30, hinting at accumulation. Bitcoin's 63% dominance and the Crypto Fear & Greed Index (61/Greed) suggest capital remains risk-averse. Upcoming U.S. core PCE data (May 30) and Fed rate decisions could pressure altcoins if inflation stays sticky. Regulatory clarity for tokenized assets (favored by Chainlink's TradFi integrations) might offset downside. Chainlink's price hinges on holding $14 to capitalize on DeFi growth via CCIP and institutional demand, while macro headwinds and technical resistance pose near-term risks. Will Bitcoin's dominance retreat before Chainlink's partnerships translate into sustained LINK buying pressure? Chainlink price prediction remains mixed as traders are bearish short-term due to a critical oracle glitch and $703M in market liquidations, but long-term bulls highlight Chainlink's institutional adoption and technical rebound potential. - Oracle malfunction caused $532k losses, sparking reliability concerns and a 7.77% price drop. - Whale activity surged 299% ($101M moved), signaling institutional moves amid volatility. - Technical analysts debate $13.86 support vs. $16 resistance for a potential short squeeze. Bearish sentiment dominates short-term discussions after a Chainlink oracle update glitch on May 30 triggered $532k in liquidations, dropping LINK to $14.33 (-9.58% in 24h). However, long-term holders remain optimistic due to Coinbase's adoption of Chainlink's Proof of Reserve for $4.6B in cbBTC reserves and rising Total Value Secured (TVS), which grew 50% in May to $65B+. Oracle Reliability: The glitch reignited debates about Chainlink's vulnerability in low-liquidity markets, with critics urging protocol safeguards. Whale Moves: A 299% spike in large transactions (6.71M LINK moved) suggests whales are either accumulating or redistributing during volatility. Technical Crossroads: Analysts highlight $13.86 as make-or-break support. A hold could trigger a short squeeze toward $17.40, while a breakdown risks $12.70. CryptoELITES (bullish): Links Chainlink's rising TVS and partnerships (SWIFT, JPMorgan) to long-term upside, targeting $30+. Alphractal (neutral): Notes long liquidations last week but sees potential for rapid recovery if LINK stabilizes above $14. CoinCodex (cautious): Predicts a possible 32% correction to $10.12 if LINK fails to reclaim $16. Chainlink faces a credibility test after its oracle glitch, but its institutional traction and oversold technicals leave the door open for a rebound. Will $13.86 support hold, or will macro headwinds push LINK toward $12? To get the latest update on LINK, visit our Chainlink currency page. Content created: 30th May 2025 Disclaimer: Content generated by CMC AI. CMC AI can make mistakes, please DYOR. Not financial advice. Sign in to access your portfolio
Yahoo
20-05-2025
- Business
- Yahoo
World Liberty's Stablecoin Now Available on Multiple Networks Via Chainlink
World Liberty Financial's USD1 stablecoin is now operable across multiple blockchains through an integration with Chainlink's Cross-Chain Interoperability Protocol (CCIP), the companies announced Friday. That's according to World Liberty Financial's team, Chainlink co-founder Sergey Nazarov, and the son of U.S. President Donald Trump, Eric Trump, who announced the cross-chain capabilities at Consensus 2025. USD1, a U.S. dollar-backed stablecoin launched by the decentralized finance protocol inspired by Trump, has seen significant growth since its debut, reaching $2 billion in market capitalization. The stablecoin was used to close MGX's $2 billion investment in Binance. It still trails behind industry leaders Tether and Circle, whose leading stablecoins have a $151 billion and $60.6 billion market cap, respectively. The token is backed by short-term U.S. Treasuries and fiat reserves held by BitGo Trust. The stablecoin was for now largely siloed within single blockchain ecosystems, yet the CCIP integration will allow it to move freely across blockchains. Ethereum and BNB Chain are the first blockchains being integrated, though additional blockchain support is expected in the future. The integration, the firms say, tackles a long-standing hurdle in the stablecoin market: cross-chain security. Historically, vulnerabilities in cross-chain bridges have cost users nearly $3 billion, they added. 'Chainlink's battle-tested infrastructure delivers the institutional-grade security and extensive reach needed to deliver USD1 into the hands of millions across a growing number of active, on-chain ecosystems,' said Zach Witkoff, co-founder of World Liberty Financial. "Chainlink is absolutely critical to merging traditional finance and decentralized finance, which has been our mission at World Liberty Financial ever since the start," said World Liberty co-founder Zak Folkman. "We don't see a world where DeFi exists in its own ecosystem and traditional finance carries on but we believe in a very short amount of time that they will, in fact, merge and just be the future of finance. So to that end, World Liberty Financial, our USD1 token is now bridgeable across chain thanks to the incredible people at CCIP which have enabled this cross chain compatibility, currently." The collaboration builds on an earlier integration where Chainlink's price oracles were used to support World Liberty's deployment of an Aave v3 instance.
Yahoo
20-05-2025
- Business
- Yahoo
Eric Trump: 'The Banks Made The Biggest Mistake of Their Lives'
'There's a famous saying that sometimes the enemy of your enemy is actually your best friend,' Eric Trump told the crowd at Consensus in Toronto, Canada. 'That was the Trumps with the crypto community. And I think the banks made the biggest mistake of their lives.' The son of U.S. President Donald Trump and co-founder of bitcoin BTC mining company American Bitcoin is also an adviser to World Liberty Financial (WLF), which recently launched a U.S. dollar-backed stablecoin, USD1, that has already reached $2 billion in market capitalization. Co-founders of WLF joined Trump on stage on Friday as they announced that USD1 was now operable across multiple blockchains through Chainlink's Cross-Chain Interoperability Protocol (CCIP). Trump painted a vivid picture of personal grievance turned into ideological conviction, claiming he was 'canceled' by major financial institutions for his political views which then got him interested in crypto as a shield against financial gatekeeping. 'So many of the banks have been weaponized and I was case in point,' said the son of the U.S. president. 'I was probably the most canceled person for doing absolutely nothing wrong, only because we had a political view, and a political view that might not have been popular with some of the big financial institutions and guys, they came after me like I was a dog.' USD1, he said, is a patriotic financial tool for people in unstable or corrupt regimes. 'It gives so much freedom of financial choice, especially to markets and countries where people have never had any kind of financial freedom, had never had any kind of financial independence, might be in a country where it's war torn, where it's subject to corruption, it's subject to ridiculous inflation,' he said. 'Every single day they go to work and their money is being burned under their mattress, and all of a sudden, we give the world the ability to be on the US dollar backed one to one by US Treasuries.' Earlier today, lawyers representing WLF pushed back against scrutiny from U.S. Senator Richard Blumenthal, the leading Democrat on a panel responsible for investigating corruption and mismanagement, who had asked about the ownership and investment structure for Trump-affiliated entities, including WLFI, in a letter last week. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
