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Aave Drops 8% on WLFI Token Deal Rumors
$AAVE tumbled over 8% Saturday following conflicting reports about World Liberty Financial token allocation. The decline occurred after claims that a 7% WLFI token deal was "fake news."
An October 2024 proposal outlined Aave DAO receiving 7% of WLFI governance tokens plus 20% of protocol revenues. Founder Stani Kulechov called it "the art of the deal" and maintained the proposal's validity.
The token fell from $385 to $339 before recovering to $352 amid the confusion. World Liberty Financial, backed by Trump family members, has generated significant DeFi sector interest.
DeFi total value locked approaches $167 billion, nearing December 2021's $212 billion record. Institutional involvement continues to reshape the sector, though it raises concerns about traditional finance #DeFi capture and regulatory pressures.
