This past week marked significant events in the DeFi and crypto world. Let's dive into the key stories, including the resolution of Ripple's case with the SEC, new ETP launches, and other important developments.
End of Ripple vs. SEC Case
Ripple agreed to end its legal battle with the U.S. SEC by paying a $50 million fine, significantly less than the initially imposed $125 million. Stuart Alderoty, Ripple’s Chief Legal Officer, called this the final step in the lengthy lawsuit that began in December 2020.
Trump Media and Crypto.com Launch Crypto ETPs
Trump Media, the parent company of Truth Social, in partnership with Crypto.com, is launching new exchange-traded products under the TruthFi brand. These products will focus on cryptocurrencies and energy sectors, emphasizing the 'Made in America' theme.
Binance Suspends Employee Due to Insider Trading Allegations
Binance has temporarily suspended a former BNB Chain staff member accused of using insider information to profit from a Token Generation Event. The Binance Internal Audit team uncovered instances of trading using non-public data.
This week highlighted both substantial achievements and challenges in the crypto space, underscoring the importance of strong governance and adherence to lawful standards.
