As the DeFi and crypto space continues to evolve at a rapid pace, staying informed about the latest developments and trends is essential. Our weekly recap provides a comprehensive overview of the most significant news and trends, helping you stay updated in this fast-paced environment.
Ripple and SEC Case Concludes
Ripple has agreed to settle its legal battle with the U.S. SEC, paying a $50 million fine—less than half of the initial $125 million. 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.
Trump Media and Crypto.com Plans
Trump Media, owner of Truth Social, plans to team up with Crypto.com to launch exchange-traded products under the Truth Fi brand, focusing on cryptocurrencies and sectors like energy with a 'Made in America' theme. This move aligns with Trump Media’s strategy to blend digital assets with American-focused securities.
Updates from Binance and HyperLiquid
Binance has suspended a former BNB Chain employee accused of using insider information for profit during a Token Generation Event. Additionally, the HyperLiquid platform faced a new market manipulation incident, causing a sudden 230% spike in $JELLY’s price, resulting in an unrealized $12 million loss and raising questions about the effectiveness of their risk management and security protocols.
These events highlight the importance of staying vigilant in the crypto space, particularly regarding legal matters and market developments.
