Stocks Shed $3 Trillion in a Day as World Liberty Eyes WLFI Buyback

Roughly $3 trillion evaporated from US stocks in one session, the ugliest day since the April 2025 tariff crash. Seoul's KOSPI slammed into a circuit breaker and sank below 5,000. President Trump blamed the rout on the election results, calling it one of the worst days the market has ever had.

Trump-backed World Liberty Financial unveiled a fresh buyback program for its $WLFI token. The cash behind it could come from fees tied to the USD1 reserve, per the announcement. The move hands the project another lever to soak up supply of its own token.

Binance is pressing ArbitrumDAO to unfreeze 8,425 ETH and 74.56 million ARB that got locked up after its hot wallet exploit. The ask now heads to a vote that could stretch past seven weeks. Until then, the funds stay stuck.

Hyperliquid Strategies posted $620 million in Q3 profit, mostly paper gains on its $HYPE holdings. The firm has also applied for a license to bring Hyperliquid perpetuals to US traders, a step that would open the platform to a much bigger audience.

Binance and CZ subpoenaed Kevin O'Leary and Michael Lewis in FTX's $1.76 billion clawback lawsuit, dragging two more big names into the bankruptcy fight. The CFTC said clearinghouses can now run daily settlements through trust companies rather than only banks, provided those trusts follow the same rules as a settlement bank. The White House is separately reviewing an SEC proposal on how brokers handle crypto assets.