Harris Vows to Support Crypto Legal Framework for Black Men as Trump-Backed DeFi Project Reports 100,000 Signups

SUMMARY

Donald Trump-backed World Liberty Financial claims over 100,000 whitelist signups, adding Paxos co-founder Rich Teo ahead of its token sale.
Vice President Kamala Harris vows to support a crypto regulatory framework to benefit Black men.
Global crypto investment products saw $407 million in net inflows last week, driven by a Republican political shift ahead of the U.S. election, per CoinShares.

Donald Trump-backed World Liberty Financial reported more than 100,000 whitelist signups before its token launch. Co-founder Zak Folkman credited Donald J. Trump’s standards as the inspiration for the project. The WLFI token, built on Ethereum’s Layer 2 network, Scroll, will see 63% sold to the public, 17% allocated to user rewards, and 20% for team compensation. The public sale aims to raise $300 million, giving the project a $1.5 billion valuation. Only authorized U.S. and UK investors, along with select others, are qualified to participate.

Paxos co-founder Rich Teo joined as the stablecoin and payments lead, affirming his association amid a live stream. During the same stream, Trump Jr. criticized the U.S. banking framework as a “Ponzi scheme,” clarifying why he supports the DeFi protocol. In any case, critics, including Rep. Wiley Nickel, argue that Trump’s association undermines bipartisan endeavors to create genuine crypto policy. World Liberty Financial plans to launch a lending platform comparative to Aave on Ethereum’s network, focusing on DeFi users.

Vice President Kamala Harris revealed plans to bolster a crypto framework aimed at protecting Black men as part of her “Opportunity Agenda for Black Men.” Her proposition emphasizes the potential of new technologies to improve financial access. It moreover presents forgivable loans for Black entrepreneurs and proposes legalizing recreational cannabis. Cleve Mesidor, founder of the WOC Blockchain Policy Network, criticized the narrow focus on Black men. She argued that the policy ought to incorporate broader support for diverse crypto pioneers and entrepreneurs.

Global crypto fund inflows hit $407 million last week, driven by rising Republican momentum ahead of the U.S. election. CoinShares research head James Butterfill said $406 million came from U.S. funds, with political trends exceeding economic information. After the vice-presidential debate, polling shifts favoring Republicans boosted investment in digital resources. Butterfill noted that stronger financial indicators failed to anticipate earlier surges, highlighting the political nature of recent inflows.

On Polymarket, Trump leads Harris in election odds, holding a 55% to 45% advantage. The decentralized forecast platform also gives Republicans a 78% chance of securing a Senate majority. They are anticipated to hold strength in the House and have a 38% chance of accomplishing a government sweep, compared to 17% for Democrats.