Significant changes and news continue to unfold in the DeFi and crypto world. Our weekly recap highlights key events and trends.
Binance Becomes First Licensed Crypto Broker-Dealer in Brazil
Binance has obtained a broker-dealer license from Brazil’s central bank, becoming the first crypto exchange licensed in the country. This milestone includes acquiring São Paulo-based investment platform Sim;paul. The license allows Binance to distribute securities and issue electronic money, expanding its services within Brazil's regulatory framework.
Morgan Stanley May Add Cryptocurrency Trading to E*TRADE Platform
Morgan Stanley is reportedly exploring the addition of cryptocurrency trading to its ETRADE platform, potentially offering the service to its 5.2 million retail users. If implemented, this move would position ETRADE as one of the largest traditional financial platforms entering the crypto market. Morgan Stanley acquired ETRADE in 2020 for $13 billion, solidifying its reputation as a top platform for various investment products.
Do Kwon Pleads Not Guilty in U.S. Court Over Terra Collapse
Do Kwon, co-founder of Terraform Labs, pleaded not guilty on January 2, 2025, to nine charges tied to the Terra ecosystem's collapse. Extradited from Montenegro, Kwon was arrested in March 2023 with fake documents while trying to board a private jet. Despite resisting extradition and favoring South Korea, Montenegro handed him over to U.S. authorities on December 31, 2024.
This week was rich in noteworthy events in the crypto industry. From Binance's licensing in Brazil to legal proceedings against Do Kwon, these developments continue to shape the crypto landscape.
