The rapidly evolving world of DeFi and cryptocurrencies continues to unveil new events and trends. This week, several key stories deserve attention.
Javier Milei's LIBRA Endorsement: What Went Wrong?
Argentine President Javier Milei is under scrutiny for promoting LIBRA, a cryptocurrency that crashed shortly after launch. Experts call it a 'rug pull' scheme, and Milei's endorsement is seen as crucial in misleading investors. A lawsuit accuses him of fraud and illicit association, and Argentina’s criminal justice system is reviewing the case.
Binance Sued for $81.5B in Nigeria
Nigeria has filed a lawsuit against Binance for $81.5 billion, accusing the crypto giant of tax evasion and contributing to the naira's depreciation. The Federal Inland Revenue Service claims Binance failed to pay $2 billion in taxes for 2022 and 2023. The lawsuit also alleges that Binance facilitated currency speculation, demanding $79 billion in damages for economic harm.
Pi Network Under Investigation
Bybit CEO Ben Zhou has raised alarms over Pi Network, questioning its legitimacy. Zhou denied any involvement with the project and cited a Chinese police warning labeling Pi's activities as potentially fraudulent. Vietnamese authorities reportedly investigated the project last year.
This week, the world of crypto and DeFi was full of significant events, from legal disputes to questionable projects and innovations. Stay tuned to stay informed of the latest changes.
