The DeFi and cryptocurrency world continues to be dynamic. Our weekly overview presents the most significant news and trends.
Trump Family and Stake in Binance US
According to The Wall Street Journal, the Trump family might be discussing acquiring a stake in Binance US. Although unconfirmed, speculation grows as Donald Trump ramps up pro-crypto rhetoric. Meanwhile, former Binance CEO, Changpeng Zhao, is reportedly seeking a pardon from Trump after pleading guilty to U.S. anti-money laundering violations.
$2 Billion Investment into Binance: Facts
Abu Dhabi-based investor MGX has invested $2 billion into Binance, marking the largest-ever investment in a cryptocurrency company. It's also the largest investment made in stablecoins. The March 12 deal gives MGX a minority stake, marking its first entry into the crypto industry. Binance, with 1,000 of its 5,000 staff based in the UAE, benefits from the region's crypto-friendly regulations.
Starknet's Plans to Merge Bitcoin and Ethereum
Starknet plans to become the first Layer 2 network to settle transactions on both Bitcoin and Ethereum, aiming to link the two largest blockchain ecosystems. This move will bring DeFi capabilities to Bitcoin, including 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 chains, enhancing Bitcoin’s functionality beyond being a store of value.
Continuous changes in the crypto industry keep drawing attention, opening up new opportunities for integration and investment.
