In this weekly recap, we cover:

• SEC’s Enforcement U-Turn: Coinbase, Uniswap, Robinhood, and more escape legal scrutiny as the SEC backs down.
• Howey Test Under Fire? Lawyers push the SEC to rethink its decades-old securities framework for crypto.
• OKX’s $500M Penalty: The DOJ cracks down on the exchange for unlicensed money transmission.
• Ethereum’s Leadership Shake-Up: Aya Miyaguchi exits as executive director, leaving the community with more questions than answers.
• Solana ETFs Gain Momentum: DTCC’s latest listing hints at a future spot ETF approval.
• FTX Token’s Prison Pump: A surprise tweet from Sam Bankman-Fried sends FTT soaring 40%.
• FTX Bankruptcy Nears $1B in Costs: Court records reveal the staggering legal fees draining what’s left.
• OX.FUN on the Brink: The 3AC founders’ latest exchange faces insolvency and extortion claims.
• Pump.Fun’s Power Move: A rumored AMM launch threatens Raydium’s dominance in Solana trading.
• Bank of America’s Stablecoin Ambitions: CEO Brian Moynihan says the bank is ready—if Congress clears the way.
• SEC Backs Away From Memecoins: In a staff statement published on Thursday, the SEC said that memecoins are more akin to collectibles, not securities.