The DeFi and crypto space is evolving rapidly, and staying updated on the latest news is crucial. This article provides a concise overview of significant news and trends from the past week.
Binance Licensed 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.
Potential 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 Case and 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.
The past week brought significant events in the DeFi and crypto world, including Binance's expanded presence in Brazil and the potential growth of the crypto market in traditional financial platforms. There were also major legal updates concerning the Do Kwon case.
