World Liberty Financial is an Ethereum-based decentralized finance (DeFi) project co-founded by Donald Trump and his sons, aiming to digitize the dollar and offer lending services. The platform launched USD1, a stablecoin available on Ethereum and BNB Chain. Its native token WLFI had a $3.56 billion market capitalization as of October 2025, according to CoinGecko.

Major cryptocurrencies experienced substantial declines on Thursday, with Bitcoin falling nearly 4% to under $109,700 and Ethereum dropping 7.5% to $3,879. Liquidations surged to almost $930 million in 24 hours, while Solana and Dogecoin suffered the heaviest losses, both plummeting approximately 21% over the past week.