This week, the DeFi and crypto world saw a series of significant events. In this article, we review the key happenings, including Ripple's settlement with the SEC, Trump Media's announcement in partnership with Crypto.com, and the suspension of a Binance employee due to insider trading allegations.
Ripple Ends Legal Battle with SEC
Ripple has reached an agreement with the SEC, concluding a lengthy lawsuit. Ripple agreed to settle with a $50 million fine, substantially less than the original $125 million. The SEC will refund the remaining $75 million and lift injunctions on Ripple. Stuart Alderoty, Ripple's Chief Legal Officer, confirmed the settlement on X.
Trump Media and Crypto.com Launch Crypto ETFs
Trump Media, the parent company of Truth Social, is collaborating with Crypto.com to launch exchange-traded products under the TruthFi brand. These products will focus on cryptocurrencies and sectors such as energy, emphasizing a 'Made in America' theme. This move aligns with Trump Media's strategy to blend digital assets with American-focused securities.
Suspension of Binance Employee and Other Incidents
Binance has suspended a former BNB Chain employee accused of using insider information for profit in a Token Generation Event. Around this time, the decentralized trading platform HyperLiquid suffered from market manipulation, leading to a 230% surge in the $JELLY token's price. This incident calls into question HyperLiquid's risk management and security protocols.
This week in the crypto world was marked by several events that could have significant implications for the market. The conclusion of Ripple's legal case, Trump Media's plans to launch exchange-traded products, and incidents involving Binance and HyperLiquid highlight the need for caution and attentiveness to market trends.
