The DeFi and crypto space is evolving rapidly, and staying informed about the latest developments and trends is essential. Let's explore this week's key events.
Javier Milei's LIBRA Endorsement: What Went Wrong?
Argentine President Javier Milei is in hot water over his alleged promotion of LIBRA, a cryptocurrency that crashed shortly after its launch. Legal experts claim his endorsement was crucial in what they describe as a 'rug pull' scheme. He is accused of fraud and illicit association, with claims that he misled investors. Argentina’s criminal justice system is reviewing the case.
Binance Sued for $81.5B in Nigeria: What You Need to Know
Nigeria has filed a lawsuit against Binance, accusing the crypto giant of tax evasion and currency speculation. The Federal Inland Revenue Service claims Binance avoided paying $2 billion in taxes from 2022 to 2023 and seeks a 26.75% interest rate on the sum. Officials also allege the exchange fueled naira depreciation, harming the economy.
Pi Network Under Investigation?! Bybit CEO Speaks Out
Bybit CEO Ben Zhou has voiced concerns over Pi Network's legitimacy as it launches its Open Network. Zhou denies any affiliation with Pi and cites a 2023 Chinese police warning labeling its activities as potentially fraudulent. Vietnamese authorities reportedly investigated the project last year.
This week, the crypto world faced several significant events, from lawsuits to regulatory advancements. Staying informed on these matters is crucial for any market participant.
