As the DeFi and crypto space continues to evolve rapidly, it's essential to stay informed about the latest developments and trends. Our weekly recap provides a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space.
The Trump Family and Binance US: Rumors and Facts
The Wall Street Journal reports that the Trump family may be in talks to acquire a stake in Binance US. While unconfirmed, speculation grows as Donald Trump ramps up pro-crypto rhetoric. Meanwhile, ex-Binance CEO Changpeng Zhao is reportedly seeking a presidential pardon from Trump after pleading guilty to U.S. anti-money laundering violations.
MGX’s Investment in Binance: Record Deal
Abu Dhabi-based tech investor MGX has poured $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 of its 5,000 global staff based in the UAE, benefits from the region's crypto-friendly regulations.
Starknet: Merging 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 events highlight the ongoing interaction and evolution of the crypto industry, bringing together investors, companies, and blockchain platforms for new opportunities and growth.
