As the DeFi and crypto space continues to evolve at a rapid pace, staying informed about the latest developments and trends is crucial. Our recap provides a concise overview of the most significant news and trends in the DeFi and crypto space this week.
Is the Trump Family Buying a Stake in Binance US?
The Trump family may be in talks to acquire a stake in Binance US, The Wall Street Journal reports. While unconfirmed, speculation grows as Donald Trump ramps 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: The Facts
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 Plans to Merge Bitcoin & Ethereum on a Single Layer
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.
This week's events in the DeFi and crypto space continue to reflect significant happenings that might impact the industry's future. The focus on major investments, strategic partnerships, and technological innovations highlights the growing interest in decentralized platforms and blockchain technology overall.
