Major Events in the DeFi and Crypto World This Week

user avatar

by Giorgi Kostiuk

2 years ago

The past week has seen significant events in the world of DeFi and crypto that could greatly impact their future development. Let's take a closer look at the key occurrences.

FTX Sues Binance and Changpeng Zhao

FTX has filed a $1.8 billion lawsuit against Binance and its former CEO, Changpeng Zhao. The lawsuit alleges fraudulent transfers during a 2021 share buyout. FTX claims that Binance received $1.76 billion in FTX tokens and Binance coins in exchange for its FTX stakes, potentially misappropriated from customers. The lawsuit states that FTX was insolvent at the time, invalidating the transaction.

18 U.S. States Suing SEC

A coalition of 18 U.S. states, led by Kentucky, has filed a lawsuit against the SEC, accusing it of overstepping its authority in crypto regulation. Attorneys general from states such as Texas, Florida, and Ohio argue that SEC Chair Gary Gensler's actions undermine state powers and hinder innovation in the $3 trillion digital asset market.

Pennsylvania's Bitcoin Bill

The Pennsylvania House has introduced the 'Bitcoin Strategic Reserve Act,' proposing to invest up to 10% of the state's treasury in Bitcoin. Sponsored by Rep. Mike Cabell, the bill aims to protect against inflation and aligns with the growing adoption of digital assets. If approved, Pennsylvania would become the first U.S. state to directly invest in Bitcoin.

This week's events in DeFi indicate significant shifts in crypto regulation and adoption. From lawsuits to new legislative initiatives, everything is shaping the industry's future.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Grayscale's Zcash ETF to Implement 3-for-1 Forward Share Split

Grayscale has announced a 3-for-1 forward share split for its Zcash ETF, ticker ZCSH, to enhance accessibility for retail investors.

user avatarTomas Novak

Growing Interest in BRICS Membership

Many countries are expressing interest in joining the BRICS alliance, according to Russian Foreign Minister Sergey Lavrov.

user avatarKaterina Papadopoulou

XRP's Technical Indicators Point to Potential Bullish Momentum

XRP's technical indicators suggest a possible bullish crossover, despite a bearish death cross setup.

user avatarMaya Lundqvist

Crypto Market Sees Recovery as Bitcoin Surges Above 80,000

Crypto traders are feeling more optimistic today as Bitcoin has climbed back above 80,000 after a tough period marked by a Federal Reserve rate hike and a Senate vote against the Clarity Act.

user avatarLeo van der Veen

US Treasury Targets BitBank in Sanctions Evasion Crackdown

The US Treasury has sanctioned BitBank, an Iranian exchange involved in facilitating Bitcoin payments for shipping companies in the Strait of Hormuz.

user avatarLi Weicheng

Solana Reclaims 105 Price Level After Market Dip

Solana's price recently fell to 96 after a marketwide dip but has since rallied to reclaim the 105 mark, experiencing a 56% increase in the last 24 hours.

user avatarAisha Farooq

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.