The DeFi and crypto world witnessed both positive and negative events this week. Here are the highlights.
Nigerian Government Ends Charges Against Binance Executive
The Nigerian government has dropped all charges against Binance executive Tigran Gambaryan, a U.S. citizen and former IRS agent. Gambaryan was released after the Abuja Federal High Court formally withdrew the charges. He was initially arrested in February during a regulatory visit to Nigeria.
$20M Theft from US Crypto Wallets
A U.S. government wallet holding over $20 million in cryptocurrencies was compromised in a security breach. The wallet contained funds seized from the 2016 Bitfinex hack. Blockchain analytics firms Arkham Intelligence and ZachXBT flagged suspicious transactions on October 24, with initial withdrawals traced to the DeFi platform Aave.
Stripe Acquires Bridge Platform
Stripe has acquired stablecoin platform Bridge for $1.1 billion, marking the largest deal in crypto history. With Bridge's tools, Stripe aims to support stablecoin payments for businesses, expanding its digital currency offerings as demand in this space rises.
This week was significant with key events in the DeFi and crypto sectors, each highlighting different aspects of the global digital finance market.