As the DeFi and crypto space rapidly evolves, staying informed about the latest developments and trends is crucial. Our weekly recap provides a concise overview of significant news.
Possible Trump Family Purchase of Binance US Stake
The Trump family may be in talks to acquire a stake in Binance US, as reported by The Wall Street Journal. While unconfirmed, speculation grows with Donald Trump ramping up pro-crypto rhetoric. Meanwhile, ex-Binance CEO Changpeng 'CZ' Zhao is reportedly seeking a presidential pardon from Trump after pleading guilty to U.S. anti-money laundering violations.
$2 Billion Investment into Binance
Abu Dhabi-based tech investor MGX has invested $2 billion into Binance, marking the largest-ever investment in a crypto company. The March 12 deal also makes history as the biggest investment paid in stablecoins. MGX secures a minority stake, marking its first entrance into crypto and blockchain. Binance, with 1,000 out of its 5,000 global staff based in the UAE, benefits from the region's crypto-friendly regulations.
Starknet's Plans to Merge Bitcoin and Ethereum
Starknet plans to become the first Layer 2 network to settle transactions on both Bitcoin and Ethereum, aiming to bridge the two largest blockchain ecosystems. The move will bring DeFi capabilities to Bitcoin, enabling staking, lending, and trading while maintaining security and decentralization. Starknet will process transactions off-chain, bundle them into STARK proofs, and settle them on both chains, enhancing Bitcoin’s functionality beyond a store of value.
These developments highlight the growing integration and evolution of the crypto space, showcasing significant progress in various sectors and strengthening links between traditional finance and modern tech solutions.
