In this weekly recap, we cover:
- Congressional Hearing on DeFi: A sharp partisan divide emerges as Republicans praise DeFi’s innovation while Democrats warn of its risks.
- eToro’s SEC Settlement: eToro agrees to a $1.5 million settlement with the SEC over allegations of operating as an unregistered broker.
- Kalshi Wins Against CFTC: Kalshi secures a legal victory allowing it to offer election contracts, despite concerns from the CFTC about potential risks to election integrity.
- Friend.tech Shuts Down: The creators of the Ethereum-based social platform Friend.tech abandon the project.
- Crypto Silence and Memecoin Selloff: Following the Trump-Harris debate, Trump-themed memecoins plummet.
- Caroline Ellison’s Sentencing: The former Alameda CEO faces sentencing for her role in the FTX collapse, with her cooperation potentially influencing a lighter sentence.
- FTX’s $14 Million Deal: FTX proposes a settlement over claims to $600 million in Robinhood shares.
- Record High Crypto Scams: Investors lost $5.6 billion to crypto scams in 2023, leading to new initiatives from Tron, Tether, and the CFTC to combat fraud.
- PayPal and Venmo Integrate ENS: PayPal and Venmo now support the Ethereum Name Service (ENS) for crypto payments.
