1. Changpeng Zhao Permanently Barred from Binance Management
2. Magic Eden Launches New US Domain
3. Nigeria’s EFCC Blocks Bail for Binance Executive

As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space.

Changpeng Zhao Permanently Barred from Binance Management

Binance CEO Richard Teng announced that Changpeng Zhao (CZ) is permanently banned from managing the cryptocurrency exchange. This comes after Zhao's conviction for money laundering and violating U.S. sanctions. The Department of Justice (DOJ) imposed the lifetime ban as part of Zhao's plea deal, countering earlier reports of a temporary suspension. Teng clarified that Zhao will not return to any operational role at Binance.

Magic Eden Launches New US Domain

Magic Eden has restructured its domain to better serve US and international users. Starting this month, US users will access the platform via magiceden.us, while international users will continue using magiceden.io. Despite the domain split, both sites will offer the same core services. The .io domain will focus on innovation, while the US site will maintain existing features. This move follows recent regulatory actions by the SEC against other NFT platforms, like OpenSea.

Nigeria’s EFCC Blocks Bail for Binance Executive

The Nigerian Economic and Financial Crimes Commission (EFCC) has rejected claims about the deteriorating health of Tigran Gambaryan, a Binance executive detained on money laundering charges. Despite visible signs of distress, the EFCC insists that Gambaryan's condition is not as serious as reported, resulting in a renewed denial of his bail, according to Nairametrics.

These events highlight key trends and shifts in the DeFi and crypto world, influencing future developments and regulation within this dynamic industry.