As DeFi and the crypto industry rapidly evolve, it's essential to stay informed about the latest developments and trends. Our weekly recap helps you understand the most significant news and trends in this space.

Radiant Capital Hit by $50M Exploit

Radiant Capital, a decentralized lending platform, has lost over $50 million in a cyberattack targeting Binance's BNB Chain and Ethereum's layer-2 Arbitrum network. This marks Radiant's second major exploit this year, raising serious security concerns in decentralized finance (DeFi).

SEC Challenges Court's XRP Ruling

The U.S. Securities and Exchange Commission (SEC) has filed an appeal against a recent court ruling in favor of Ripple Labs. The case, which started in 2020, accuses Ripple of raising $1.3 billion through unregistered XRP sales. The appeal, filed with the U.S. Court of Appeals for the Second Circuit, indicates that the legal battle could continue into mid-2025.

Worldcoin Rebrands as 'World'

Worldcoin has announced a rebranding to 'World,' founder Sam Altman revealed on October 17. The rebrand aligns with the company’s mission to enhance digital identity verification. A new biometric scanning device, the 'Orb,' was introduced, featuring iris scan technology for secure user verification. World aims to expand partnerships and accessibility as part of its new direction.

This week witnessed several significant developments in the DeFi and cryptocurrency space, continually shaping the industry's future. From cyberattacks and legal battles to innovations and rebranding, each event highlights the importance of security and technological advancements.