World Liberty Financial (WLFI), backed by the Trump family, announced a new governance proposal to test its airdrop system by distributing its USD1 stablecoin to WLFI token holders.

The move comes shortly after the decentralized finance (DeFi) project launched the stablecoin in late March.

World Liberty Financial Eyes USD1 Stablecoin Airdrop

WLFI’s initiative serves three primary goals. First, it seeks to validate the project’s technical infrastructure. Secondly, it serves as a reward mechanism for early supporters, and lastly, it aims to increase USD1’s visibility ahead of a broader rollout.

“Testing the airdrop mechanism in a live setting is a necessary step to ensure smart contract functionality and readiness. This distribution also serves as a meaningful way to thank our earliest supporters and introduce them to USD1,” the proposal read.

The airdrop will distribute a fixed amount of USD1—a stablecoin pegged to the US dollar and backed by assets like US Treasuries—to all eligible WLFI holders on the Ethereum (ETH) mainnet. 

The exact amount per wallet will be determined based on the total number of eligible wallets and WLFI’s budget. In addition, the company reserves the right to modify or terminate the test at its discretion.

Interestingly, comments in the proposal reflect strong community support. The general consensus is likely in favor of a USD1 stablecoin airdrop.

“I believe it is a very valid proposal, which serves both to keep the community engaged and to test the network for implementation. Therefore, I believe it is a positive measure for both holders and the institution. Let’s go ahead, let’s design in order to build,” a user wrote.

The next step would include finalizing the details of the airdrop. Afterward, the proposal will proceed to a governance vote. The voting options will include “Yes” to approve the airdrop, “No” to reject it, and “Abstain” for those who wish not to vote. This process ensures transparency and community involvement in the decision-making process.

Meanwhile, the proposal emerges amid intensified scrutiny of the Trump family’s role in the cryptocurrency venture.

On April 2, Senator Elizabeth Warren and Representative Maxine Waters sent a letter to SEC acting chair Mark Uyeda. The lawmakers requested that the SEC preserve all records and communications related to World Liberty Financial.

They also requested access to information to clarify how the Trump family’s financial stake in WLFI might be influencing SEC operations. Additionally, they expressed concerns that this potential conflict of interest could undermine the SEC’s mission to protect investors and ensure fair, orderly markets.

“The Trump family’s financial stake in World Liberty Financial represents an unprecedented conflict of interest with the potential to influence the Trump Administration’s oversight—or lack thereof—of the cryptocurrency industry, creating an obvious incentive for the Trump Administration to direct federal agencies, including the SEC, to take positions favorable to cryptocurrency interests that directly benefit the President’s family,” the letter read.

Earlier, Senator Warren and five other democrats had sent a letter to the Federal Reserve and the OCC, raising similar concerns.

Solana-based meme coin FARTCOIN is today’s talk of the town. The altcoin has outperformed broader market trends, recording a 28% gain over the past day.

While many assets struggle with declining prices and trading volumes amid recent market troubles, FARTCOIN has seen a surge in both, attracting significant buy orders. 

FARTCOIN Defies Market Meltdown

FARTCOIN’s upward momentum is evident, driven by a sharp rise in trading volume. Reflecting on the meme coin’s recent trend, crypto trader “RookieXBT” noted in a March 7 post on X that FARTCOIN is seeing “increasing volume while the world falls apart,” adding that “no other coin is doing this.”

FARTCOIN’s trading volume totals $363 million as of this writing, rocketing over 80% in the past 24 hours. 

When an asset’s price rises alongside its trading volume, it signals strong market interest and conviction behind the price move. 

FARTCOIN’s high trading volume confirms that widespread participation rather than isolated trades support its rally. This combination is a bullish signal, suggesting the uptrend may have the momentum to continue.

Further, the setup of the token’s Parabolic Stop and Reverse (SAR) indicator supports this bullish outlook. At press time, the dots of the momentum indicator rest below FARTCOIN’s price on the daily chart.

An asset’s Parabolic SAR indicator identifies potential trend direction and reversals. When its dots are placed under an asset’s price, the market is in an uptrend. It indicates an asset’s price is rising, and the rally may continue. 

FARTCOIN Breakout Sets Stage for Bullish Continuation or Sharp Reversal

FARTCOIN’s double-digit rally has pushed its price past the key resistance of $0.54, which it had struggled to break above in the past two weeks. If demand strengthens, that price level will solidify into a support floor, and the token’s rally could continue.

In that scenario, FARTCOIN’s price could climb to $0.73. 

On the other hand, a failed retest of the $0.54 support floor could trigger FARTCOIN’s price to fall to $0.34.

Bitcoin price started a fresh decline below the $80,000 zone. BTC is now correcting losses and might face resistance near the $80,500 zone.

• Bitcoin started a fresh decline below the $80,000 zone.
• The price is trading below $81,500 and the 100 hourly Simple moving average.
• There is a connecting bearish trend line forming with resistance at $80,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another increase if it clears the $81,500 zone.

Bitcoin Price Starts Recovery

Bitcoin price started a fresh decline below the $82,000 and $81,200 levels. BTC traded below the $80,500 and $80,000 levels to enter a bearish zone.

The price even dived below the $78,000 support zone. A low was formed at $74,409 and the price started a recovery wave. There was a move above the $76,800 level. The price climbed above the 50% Fib retracement level of the recent decline from the $83,680 swing high to the $74,409 low.

However, the price is struggling to continue higher. Bitcoin price is now trading below $81,200 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $80,400 level. There is also a connecting bearish trend line forming with resistance at $80,400 on the hourly chart of the BTC/USD pair.

The first key resistance is near the $81,500 level or the 76.4% Fib retracement level of the recent decline from the $83,680 swing high to the $74,409 low. The next key resistance could be $82,500. A close above the $82,500 resistance might send the price further higher. In the stated case, the price could rise and test the $83,500 resistance level. Any more gains might send the price toward the $85,000 level.

Another Decline In BTC?

If Bitcoin fails to rise above the $80,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $79,500 level. The first major support is near the $78,000 level.

The next support is now near the $76,500 zone. Any more losses might send the price toward the $75,000 support in the near term. The main support sits at $74,400.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $79,500, followed by $78,000.

Major Resistance Levels – $80,500 and $81,500.