As the DeFi and crypto space continues to evolve rapidly, it's essential to stay informed about the latest developments and trends. Our weekly recap provides a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space.
Binance Becomes Licensed Broker-Dealer in Brazil
Binance has obtained a broker-dealer license from Brazil’s central bank, becoming the first crypto exchange licensed in the country. This milestone, Binance’s 21st global regulatory approval, includes acquiring São Paulo-based investment platform Sim;paul. The license allows Binance to distribute securities and issue electronic money, expanding its services within Brazil's regulatory framework.
Morgan Stanley Considers Crypto Trading on E*TRADE
Morgan Stanley is reportedly exploring the addition of cryptocurrency trading to its E*TRADE platform, potentially offering the service to its 5.2 million retail users. If implemented, this move would position E*TRADE as one of the largest traditional financial platforms entering the crypto market. Morgan Stanley acquired E*TRADE in 2020 for $13 billion, solidifying its reputation as a top platform for various investment products.
Do Kwon Pleads Not Guilty in U.S. Court Over Terra Collapse
Do Kwon, co-founder of Terraform Labs, pleaded not guilty on January 2, 2025, to nine charges tied to the Terra ecosystem's collapse. Extradited from Montenegro, Kwon was arrested in March 2023 with fake documents while trying to board a private jet. Despite resisting extradition and favoring South Korea, Montenegro handed him over to U.S. authorities on December 31, 2024.
These events highlight the ongoing dynamics and evolution of the DeFi and crypto space. Whether it's obtaining licenses, launching new products, or legal proceedings, the industry continues to garner attention and remains in motion.
