As the DeFi and crypto space continues to evolve rapidly, staying informed about the latest news and trends is crucial. Our weekly recap provides an overview of the most significant developments in the DeFi and crypto space, helping you stay informed.
Ripple vs. SEC: The End?
Ripple has ended its legal battle with the U.S. Securities and Exchange Commission, agreeing to a $50 million settlement—less than the initial $125 million fine. The SEC will refund the remaining $75 million and lift the injunction on Ripple. Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed the settlement on X, calling it the final step in the lengthy lawsuit that began in December 2020.
Trump Media and Crypto.com Partnership
Trump Media, the parent company of Truth Social, has partnered with Crypto.com to launch exchange-traded products under the TruthFi brand. These products will focus on cryptocurrencies and sectors like energy, highlighting a 'Made in America' theme. This move aligns with Trump Media’s strategy to merge digital assets with American-focused securities.
Binance and Other Major Developments
Binance suspended a former employee of the BNB Chain accused of using insider information to profit from a Token Generation Event. The company’s Internal Audit revealed that the staff member allegedly made trades using confidential information.
Decentralized trading platform HyperLiquid suffered another market manipulation incident, resulting in a sudden 230% increase in $JELLY’s price, causing $12 million in losses.
Floki’s DAO voted to remove the 0.3% buy/sell tax on TokenFi's native token, $TOKEN. This decision aims to enhance accessibility and trading, attracting those interested in creating tokens and tokenizing real-world assets.
This week in the crypto and DeFi industry was filled with significant events. From pivotal legal resolutions to strategic partnerships and tax policy changes, each event could have lasting impacts on the market.
