This week, DeFi and cryptocurrencies have kept us on our toes with news and events. This recap highlights the week's key moments.
End of Ripple vs. SEC Case
Ripple has agreed to end its legal battle with the SEC, settling for $50 million—less than half of the original $125 million fine. The SEC will refund the remaining $75 million and lift the injunction on Ripple. Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed the settlement on X, calling it the final step in the lengthy lawsuit that began in December 2020.
Launch of Crypto ETFs by Trump Media and Crypto.com
Trump Media, the parent company of Truth Social, has partnered with Crypto.com to launch exchange-traded products (ETPs) under the TruthFi brand. These ETPs will focus on cryptocurrencies and sectors like energy, with an emphasis on a 'Made in America' theme. This move aligns with Trump Media’s strategy to blend digital assets with America-focused securities.
Insider Trading Allegations at Binance
Binance has suspended a former BNB Chain employee over allegations of using insider information to profit from a Token Generation Event (TGE). The company’s Internal Audit team revealed on March 23 that the staff member allegedly made trades using non-public data from their previous role.
This week was rich in significant events in the world of cryptocurrencies and DeFi. Keeping a close eye on these developments ensures a better understanding of current trends and their impact on the markets.
