Sun Sep 15 11:01:08 UTC 2024: ## Crypto Twitter: Friend.tech Fizzles, Trump Enters the DeFi Fray
This week on Crypto Twitter, the buzz centered around the unexpected demise of Friend.tech, the decentralized social network that generated millions in its brief lifespan, and Donald Trump’s foray into the DeFi space.
Friend.tech, once a hotbed of “SocialFi” activity, announced the cessation of development after months of waning momentum. While the project’s website will remain functional, the developers will no longer be able to modify its fees or functionality. This decision sparked backlash from users, who felt betrayed by the sudden abandonment.
Meanwhile, crypto enthusiasts faced a disappointing outcome during the first presidential debate. Despite lobbying efforts to include a crypto-related question, neither Bitcoin nor digital assets were mentioned during the 90-minute event. This outcome surprised many, as millions of dollars were wagered on crypto betting platforms regarding the debate’s content.
However, Trump’s announcement of his family’s long-awaited DeFi project, World Liberty Financial, injected excitement back into the space. Launching on Monday with a Twitter Spaces event, the project aims to “embrace the future with crypto” and leave traditional banks behind.
While Trump’s adoption of crypto has surprised some, it hasn’t been without its share of criticism. Some argue that his project will merely be a copy of existing DeFi platforms and expressed concerns about the potential for government involvement.
As the crypto landscape continues to evolve, it remains to be seen how these events will impact the future of the industry. One thing is certain: Crypto Twitter will be abuzz with speculation and discussion as the stories unfold.
First Piper 