Cht Calls

A governance vote to make WLFI tokens tradable is underway and will reveal whether the project is truly community-driven. But the bigger question is whether early backers are ready to cash in, or hold tight, as the team’s holdings remain frozen.
On July 4, the team behind Trump-linked World Liberty Financial launched a pivotal governance vote, proposing to unlock tradability for its WLFI token.
If passed, early supporters who bought tokens in WLFI’s closed-door funding rounds will see their holdings unlocked for the first time, while the team, founders, and advisors remain bound by longer lockups, a move framed as a test of the project’s commitment to decentralization.
The proposal outlines a phased transition to open-market participation, beginning with token transferability and a limited distribution. A second vote will later determine if and when the remainder of early supporter allocations can be released.
At face value, the first vote represents a routine governance milestone for a DeFi project. But in practice, it probes the fragile balance between ideology, liquidity, and control that defines WLFI’s unique place in the crypto ecosystem.
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Why this vote matters now and what’s really at stake
The World Liberty Financial team cites “strong demand” from community members and ecosystem partners as the key driver behind the timing of the WLFI token tradability proposal.
After a year of product development and brand-building, the protocol claims the foundation is stable enough to open the gates. The WLFI team calls this a “defining moment,” and in some ways, it is. If passed, the vote would mark a transition from a controlled, non-transferable token model to one where WLFI can circulate freely via peer-to-peer exchanges or secondary markets.
Yet the timing is conspicuous. The vote comes just a week after Aqua 1’s $100 million token purchase, which granted the UAE fund significant governance influence. The WLFI team has not disclosed how many tokens Aqua 1 controls relative to total supply, but the optics are hard to ignore. A freshly onboarded institutional player now holds outsized voting power in what is being framed as a grassroots governance milestone.
Regardless of the outcome, the vote is a revealing moment for World Liberty Financial, which is under scrutiny to prove its ecosystem can balance open participation with sustainable growth.
Proponents argue that enabling trading will fuel broader adoption and governance engagement. Skeptics, however, warn that early backers—many of whom bought in at lower valuations, could trigger a sell-off, testing the token’s resilience before institutional players like Aqua 1 fully deploy their capital.
The outcome won’t just shape WLFI’s liquidity; it will signal whether a project with political ties can withstand the pressures of true decentralization.
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Microsoft has suspended 3000 Outlook and Hotmail accounts tied to a North Korean scheme involving DPRK nationals posing as remote workers under false identities.
U.S. officials have long warned that North Korea uses illicit earnings from crypto hacks, fraud, and IT operations to bypass international sanctions and maintain its military programs. Authorities are now cracking down on what they are calling a global criminal operation that secretly funnels millions to Kim Jong Un’s authoritarian regime.
Microsoft shuts down 3,000 North Korea-linked email accounts
Microsoft has suspended over 3,000 email accounts in a sweep of the international scheme operated by North Korean IT workers posing as remote tech professionals.
Microsoft’s actions follow a coordinated operation involving the U.S. Department of Justice, FBI, and other federal agencies. Together, they have begun dismantling a sophisticated conspiracy code-named “Jasper Sleet” by Microsoft Threat Intelligence. It’s an operation that exploits freelance job markets and tech firms worldwide.
The operation not only defrauds employers but is also believed to directly fund North Korea’s nuclear weapons program.
According to Microsoft’s Threat Intelligence team, the scheme involves trained IT professionals from the Democratic People’s Republic of Korea (DPRK) who assume false identities to secure remote employment with foreign companies, especially in the United States.
Many of these workers are highly skilled, with some employers unknowingly praising them as top performers.
“These aren’t hackers breaking into systems,” Microsoft’s Threat Intelligence Center (MSTIC) said. “They’re skilled developers, quality assurance engineers, and IT support specialists who pass interviews, complete real work, and blend in—except for one critical detail: they’re working for the DPRK.”
In many cases, accomplices who are sometimes American citizens facilitate access by renting out their identities or operating what authorities describe as “laptop farms.”
Laptop farms are physical locations where laptops issued by unsuspecting employers are shipped and maintained. At least 29 of these sites have been searched by law enforcement, with laptops installed with remote-access software or physically rerouted to China or Russia.
The Department of Justice recently detailed the case of a Maryland-based nail salon employee who will be sentenced in August. The man was found to have held 13 jobs simultaneously on behalf of North Korean IT workers, earning nearly $1M in remote salary payouts.
According to the United Nations’ estimates, the North Korean IT worker program generates up to $600M annually. This revenue often ends up supporting cybercrime operations and the country’s nuclear ambitions.
Microsoft fights back with AI and detection tools
In a blog post this week, Microsoft detailed the suspension of 3,000 consumer email accounts, primarily Outlook and Hotmail, that were being used by the North Korean operatives.
“Beyond the 3,000 consumer email accounts that were recently taken down, in our efforts to disrupt the actor activity and protect our customers from this threat, Microsoft has continued to takedown persona accounts as they are identified and track the actor’s use of AI,” Jeremy Dallman, the senior director at Microsoft’s Threat Intelligence Center, said.
Microsoft has observed that North Korean workers are becoming increasingly sophisticated. They now leverage AI tools to fix grammatical errors in resumes and cover letters, enhance their photos to appear more professional or Westernized and use FaceSwap technology to impose their images on stolen identity documents.
Some are even experimenting with voice-changing software to help facilitators pass job interviews on their behalf. While Microsoft hasn’t observed the use of combined AI-driven voice and video deepfakes in real-time interviews yet, the company warned that it may only be a matter of time.
“If successful, this tactic could allow the North Korean IT workers to do interviews directly and no longer rely on facilitators standing in for them,” Microsoft said.
These enhanced AI tactics allow the operatives to better mask their origin, making it more difficult for employers to identify red flags. Common methods include recycling names, email addresses, and profile templates across various job platforms like LinkedIn, GitHub, and freelance marketplaces.
To detect and defend against these tactics, Microsoft has deployed a custom machine-learning solution that flags suspicious activity using what it calls an “impossible time travel” analysis which includes monitoring for logins across geographically implausible locations within narrow time frames, such as access from the U.S. followed closely by China or Russia.
Microsoft is also bolstering its identity protection tools and urging companies to adopt strong authentication protocols and real-time risk detection systems. The tech firm has collaborated with U.S. government agencies to share intelligence and build technical solutions that can be applied across the cybersecurity industry.
The company has pledged to maintain pressure on the evolving threat. “Jasper Sleet is constantly changing and evolving their profiles,” Dallman said. “We’re watching how they adapt, especially with AI, and working to stay one step ahead.”

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Key Takeaways:
House focuses on three major crypto bills.Regulatory changes for stablecoins and exchanges.Potential impacts on crypto market infrastructure.
"Crypto Week" aims to promote cryptocurrency regulatory clarity and financial security.
The Legislative Push
House Republicans, under Speaker Mike Johnson's leadership, announced the impending "Crypto Week" focused on three major legislative bills: the GENIUS stablecoin act, the CLARITY market structure act, and the Anti-CBDC Surveillance State Act. "House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda," said Speaker Mike Johnson. These proposed laws align with President Trump's digital assets agenda and signify heightened Congressional engagement in shaping cryptocurrency regulations. The GENIUS Act mandates stablecoin backing with U.S. dollars, requiring full reserves and annual audits for issuers over a $50 billion market cap. This move intends to stabilize the digital financial ecosystem while ensuring secure practices.
Market Impacts
Impacted markets respond to the regulatory mandates shaping cryptocurrency exchange operations, decentralized finance (DeFi), and stablecoin reserves. Major stablecoins like USDT, USDC, and DAI must adapt to increased oversight, directly influencing liquidity and blockchain utilization, particularly Ethereum's infrastructure. The CLARITY Act's focus on centralized and decentralized exchanges will redefine financial transactions by instituting strict fund separation and detailed retail disclosures. Traders and developers anticipate transitional volatility as legislative discussions unfold.
Financial repercussions include potential shifts in market dynamics and institutional interest, given the structured compliance mandates. The coordination between the SEC and CFTC required by the CLARITY Act may redirect regulatory oversight, while economic implications could extend to investor confidence and exchange reliability. Analyses of historical precedents suggest that legislative focus can impact short-term crypto valuations and transactional behaviors. Market and developer communities actively engage in discussions, seeking clarity on forthcoming regulations during planned official events throughout "Crypto Week."

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Eight connected wallets moved a total of 80,000 BTC in the past day. As the billion-dollar wallets shifted their coins to new addresses, speculations arose about the holder’s identity. 
On July 4, whale watchers intercepted two notable transactions from old BTC wallets. The transactions were linked to the same entity, moving a total of 20,000 BTC within hours. The coins moved just as BTC was hovering above $109,000, expecting a new potential price record. 
Later, the OG whale moved all other related wallets, while closely watched by on-chain analysts. A total of 80,000 BTC has been transferred to new wallets so far, with no signs that the whale would be ready to sell.

The wallet cluster identified as belonging to one early whale was finally emptied | Source: Mempool.space
The 14-year holding also suggested the owner held a strong conviction and would sell in a way that would not crash the market. The size of the holdings is also suitable for a BTC treasury, which would put the owner ahead of Mara Holdings and just behind Strategy (MSTR).
After the initial two transactions moved the coins, the rest were shifted more quickly, in the end emptying the original 14-year-old wallets of their final 10,000 BTC. Some of the coins moved today were acquired in April 2011 at $0.78 per BTC. Other wallets were funded at a price of $3.37. The current price of all coins moved today is above $8.6B. 
Did Roger Ver move 80,000 BTC?
On-chain analysts suggest the whale may be none other than Roger Ver, who showed early belief in the long-term future of BTC. 

Ver was arrested in Spain for misleading tax filings and, in January, pleaded with US President Donald Trump to avoid extradition. One of the hypotheses is that Ver may have to use some of the BTC to achieve a plea deal. If true, then Ver must have kept significant BTC reserves while shilling Bitcoin Cash (BCH). Since the wallets were created before the BCH fork, the owner must also hold 80,000 BTC and other forked coins. 
Others suggested that Ver had spent most of his original 600K BTC and that the transfers went to the wallets of the US Government. The newly created wallets do not point to the identity of the recipient. 
Was the whale an early miner? 
The other hypothesis for the whale is that the wallets were part of the total haul of an early miner, who produced a total of 200,000 BTC. 
The coins moved today, if acquired at their respective market prices, would only amount to $250,000. 
The whale achieved the biggest daily move for coins aged over 10 years. Previously, the record was for 3.7K BTC from the same age band. Older miners and whales are seen as the most reliable holders, as the old cohorts may also contain inaccessible wallets. Older miners have moved coins from the earliest wallets, dating back to 2010, though at a much smaller scale. 
For now, it remains uncertain whether the moved coins would enter the market in some way. Even 80,000 BTC may be absorbed relatively quickly with the expansion of BTC treasury companies and renewed ETF buying. 

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Is Ethereum’s reign as the king of smart contracts under threat? That’s the question many crypto investors are asking after Anthony Scaramucci, founder of SkyBridge Capital, recently suggested that Solana could soon overtake Ethereum. With the crypto market as unpredictable as ever, and both blockchains rolling out upgrades and attracting institutional interest, it’s a good time to take a closer look at what’s really happening beneath the surface.
Ethereum’s Journey and Solana Surge
Ethereum has been the backbone of decentralised finance (DeFi) since its launch, powering everything from NFTs to decentralised exchanges. Its switch to proof-of-stake in 2022 was a major step forward, cutting energy use and paving the way for future upgrades. But while Ethereum has been building, Solana has been sprinting.
Solana’s pitch is simple: faster transactions and lower fees. Since 2020, it has grown from a niche project into a major player, with more developers, more dApps, and a growing share of total value locked (TVL) in DeFi. The question is, can it keep up the pace, and does it have what it takes to knock Ethereum off its perch?
Anthony Scaramucci: Betting Big on Solana
Scaramucci didn’t mince words in his recent interview: “Solana is what Ethereum was supposed to be.” He points to Solana’s speed, low transaction costs, and growing ecosystem as reasons why it could become the “Visa of blockchain.” It’s a bold claim, but it’s not without substance. Solana’s ability to handle thousands of transactions per second at a fraction of a cent has caught the eye of both retail and institutional investors.
Cantor Fitzgerald, a major Wall Street player, is signalling increased institutional confidence in Solana. The firm recently announced a strategic shift in its treasury, dedicating more resources to Solana than Ethereum. This decision is driven by Solana’s superior speed and cost-efficiency, which are significant advantages for large-scale financial operations.
Solana at a Crossroads, Key Support Levels and Bearish Patterns, ETF Hopes Versus Bearish Price Signals
Solana (SOL) is at a critical juncture, facing conflicting pressures from optimistic speculation about potential ETF approvals and strong technical indicators suggesting a significant price decline. The coming weeks are crucial for determining SOL’s direction.
SOL recently fell by 12.5%, with technical analysts identifying a descending triangle pattern on the weekly chart. This pattern frequently indicates further downward movement. The key support area of $140–$145 is currently at risk. Should this level be breached, the pattern suggests a potential 30% crash, pushing SOL down to the $102–$103 range. This bearish forecast is reinforced by a pattern of lower highs and declining momentum, increasing the stakes for SOL investors.
ETF Momentum: A Bullish Counterweight
Despite the technical risks, Solana’s fundamentals remain robust. The network boasts over 3.25 million active wallets and leads all major blockchains in daily revenue, generating $4.79 million, outpacing even Ethereum and Tron. The real wildcard, however, is the potential approval of a Solana ETF. VanEck’s recent DTCC registration for a Solana ETF marks a significant regulatory milestone. Bloomberg’s Eric Balchunas pegs the odds of SEC approval in 2025 at 90%, citing ongoing dialogue between the SEC and ETF issuers.
Arguments for Ethereum’s Continued Dominance
Not everyone is convinced that Solana will take the crown. Michaël van de Poppe, founder of MN Trading Capital, observed a shift in market focus. While Bitcoin continues to dominate attention, Ethereum is subtly accumulating momentum. He stated, “The market isn’t solely focused on Bitcoin anymore. We’re actually seeing momentum build around Ethereum.”
With the largest developer community, the most dApps, and a huge share of DeFi activity, Ethereum’s position is still strong. Upcoming upgrades like Proto-Danksharding (EIP-4844) are expected to lower fees and boost capacity, addressing some of the main criticisms.

What’s Driving the Market Right Now? Macro Trends and Recent Events, Geopolitical Shocks
Ethereum’s price recently plummeted by 10%, a significant drop attributed to rising US-Iran geopolitical tensions and military actions. This market instability triggered substantial liquidations, wiping out over $282 million in Ethereum positions and affecting more than 172,000 traders within a single 24-hour period. This incident underscores the direct impact of global events on digital assets, especially in an already fragile market. Technically, Ethereum’s price has fallen below crucial support levels, and its recovery hinges on its ability to surpass specific resistance points.

Ethereum Price Chart (April–June 2025) Source: TradingView
Regulatory Shifts & Institutional Dynamics
The regulatory landscape remains a significant factor, with the US SEC’s evolving position on Ethereum, particularly concerning staking and ETF approvals, generating both optimism and apprehension. Although spot Ethereum ETFs have drawn in new capital, ongoing regulatory discussions necessitate investor vigilance.
Institutions are actively seeking out blockchains that offer speed, affordability, and dependability. Solana’s recent surge in institutional engagement, underscored by Cantor Fitzgerald’s backing, indicates a market openness to alternative platforms. Nevertheless, Ethereum maintains a strong presence, particularly within enterprise solutions and established DeFi initiatives.
The Takeaway: Evolution, Not Overthrow
So, will Solana overtake Ethereum? It’s possible, but not inevitable. Ethereum’s deep roots and upcoming upgrades make it a tough competitor, even as Solana’s speed and cost advantages attract fresh capital and attention. For investors, the best approach is to stay informed, diversify, and watch how these two giants adapt to a rapidly changing market.
The real story here isn’t about one chain replacing the other. It’s about the evolution of blockchain technology—and the opportunities that come with it. As the landscape shifts, smart investors will keep an eye on both Ethereum and Solana, ready to act as new trends emerge.

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