Trump-Backed WLFI Token Launches With $7.6B Valuation as Volume Surges to $2.5B

Top 10 Ethereum Wallets Hold 70% of Supply With Beacon Contract, Exchanges and BlackRock Leading ETH Ownership in 2025

Onchain data as of August 2025 shows that Ethereum ownership has shifted decisively from early adopters to smart contracts, exchanges, funds and corporations. The top 10 addresses hold 83.9 million ETH (around 70% of circulating supply), with nearly 55% locked in the Beacon Deposit Contract that powers proof-of-stake. Major exchanges like Coinbase (4.93 million ETH), Binance (4.23 million) and Bitfinex (3.28 million) also rank among the largest holders, alongside bridges and custodians. Institutional players have emerged as major forces: BlackRock’s iShares Ethereum Trust holds more than 3 million ETH, while Fidelity, Grayscale and Bitwise collectively manage over 5 million ETH. Corporates like Bitmine Immersion Technologies and SharpLink Gaming now hold hundreds of thousands of ETH as treasury assets, with most actively staked. Individual whales still include Vitalik Buterin, Joseph Lubin, the Winklevoss twins and others, though smart contracts and institutions dominate the 2025 Ethereum rich list.

Metaplanet Shareholders Approve $884M Capital Raise as Stock Drops 54%, Bitcoin Holdings Hit 20,000 BTC

Metaplanet Inc., Japan’s leading Bitcoin treasury company, secured shareholder approval for an $884 million capital raise as its stock continues to slide, dropping 54% since mid-June. The plan authorizes the sale of up to 550 million new shares overseas alongside issuing preferred stock. The financing crunch threatens CEO Simon Gerovich’s ambitious Bitcoin accumulation strategy, which had relied on a stock-driven “flywheel” mechanism with Evo Fund that has now slowed. Despite market concerns, Metaplanet announced the purchase of 1,009 BTC for $112.2 million, bringing its holdings to 20,000 BTC—making it the world’s sixth-largest public Bitcoin holder. Still, analysts warn the company’s long-term goal of 210,000 BTC by 2027 could collapse if fresh capital dries up. Eric Trump, who joined as an adviser in March, attended the meeting, likening Gerovich to Michael Saylor. The firm was recently upgraded to mid-cap status in FTSE Russell’s September review, but shares closed down 5.46% on Monday at $5.65.

Trump-Backed WLFI Token Launches With $7.6B Valuation, 1,700% Early Gains, $12.3M in Liquidations

World Liberty Financial (WLFI), the Trump-backed DeFi project, officially launched its Ethereum-based token for trading today. Within hours, WLFI ranked among the top 30 cryptocurrencies, with a market cap between $6.5 billion and $7.6 billion and a fully diluted valuation near $26 billion. Early whitelisted buyers who purchased at $0.015 are sitting on gains exceeding 1,700%, with the token now trading around $0.265. Trading has already sparked over $12 million in liquidations across longs and shorts. WLFI debuted on major exchanges like Binance, Bybit, and Gate, following strong demand from early adopters and a governance vote in July to make the token transferable. The project, co-founded by President Trump, his sons, and allies, previously raised $550 million and also issued the USD1 stablecoin, now the sixth largest globally. Trump himself has disclosed $57.3 million in personal profits from the venture, intensifying political debate in the U.S.

WLFI Drops 36% From Peak to $0.245 as Volume Hits $2.5B, Governance Proposal Pushes Buyback-and-Burn Plan

World Liberty Financial’s WLFI token fell sharply less than a day after its Labor Day debut, sliding from $0.33 to near $0.21 before stabilizing around $0.245. Trading volume jumped nearly tenfold from $259 million at launch to $2.5 billion. Despite being down about 14% from its $0.28 debut price, WLFI still delivers over 1,500% gains for early whitelisted buyers who paid $0.015. A governance proposal has emerged to redirect all liquidity fees from protocol-owned pools on Ethereum, BSC and Solana toward buybacks and permanent token burns, aimed at supporting WLFI’s price through supply reduction. Analysts, however, warn that the impact may be limited due to upcoming token unlocks, WLFI’s lofty valuation and its lack of active products. The buyback-and-burn approach, more typical of mature firms, could also constrain resources for growth. WLFI, co-founded by President Trump, his sons and allies, has already issued the USD1 stablecoin, now the sixth largest by market cap.