The DeFi and crypto world is evolving rapidly, and it's crucial to keep abreast of the latest developments. This week's recap gives you a concise overview of the most significant news and trends, helping you stay informed.
Is the Trump Family Buying a Stake in Binance US?
According to The Wall Street Journal, the Trump family may be in talks to acquire a stake in Binance US. Though unconfirmed, speculation is mounting as Donald Trump ramps up pro-crypto rhetoric. Meanwhile, ex-Binance CEO Changpeng Zhao is reportedly seeking a presidential pardon from Trump after admitting to violations of U.S. anti-money laundering laws.
$2 Billion Investment into Binance: The Facts
Abu Dhabi-based tech investor MGX has invested $2 billion into Binance, marking the largest-ever investment in a crypto company and the biggest stablecoin deal. MGX secures a minority stake, venturing for the first time into the crypto and blockchain world. With a fifth of Binance's staff located in the UAE, the company benefits from the region's crypto-friendly regulations.
Starknet Plans to Merge Bitcoin & Ethereum on a Single Layer
Starknet plans to be the first Layer 2 network to settle transactions on both Bitcoin and Ethereum, aiming to bring DeFi capabilities to Bitcoin, such as 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 blockchains, enhancing Bitcoin's functionality beyond being just a store of value.
These developments highlight the rapid changes and progress in the DeFi and crypto world. Stay tuned for updates to keep informed about significant market shifts.
