In this weekly recap, we cover:
- Tornado Cash Developer Sentenced: Alexey Pertsev, developer of Tornado Cash, receives a 64-month prison sentence for money laundering.
- Senate Votes Against SEC Rule: The Senate votes to overturn the SEC’s controversial crypto accounting rule, but a veto from President Biden is anticipated.
- Wisconsin’s Bitcoin ETF Investment: The State of Wisconsin makes a landmark $100 million investment in BlackRock’s Bitcoin ETF.
- Roaring Kitty’s Comeback: Keith Gill, aka Roaring Kitty, returns to social media, causing Solana’s GME memecoin to skyrocket by 1,418%.
- Biden Shuts Down Chinese Crypto Miners: A Chinese-owned crypto mining operation near a U.S. missile base is closed due to national security concerns.
- FTX’s Ryan Salame Seeks Sentence: Former FTX executive Ryan Salame requests an 18-month prison sentence amid cooperation with prosecutors.
- Pump.Fun Flash Loan Exploit: Solana-based Pump.Fun is exploited through a flash loan attack, leading to a loss of over $2 million.
- Degen Chain Outage: Degen Chain recovers from a two-day outage that halted block production and impacted its dApps.
- BlockTower Capital Hack: BlockTower Capital suffers a major hack, with significant funds still missing.
- Cypher Protocol Insider Theft: A core contributor to Cypher Protocol admits to stealing $300K from recovery funds.
- Circle Moves Legal Base: Circle shifts its legal domicile to the U.S. ahead of its planned IPO.
- Binance’s New Monitor: The DOJ appoints Forensic Risk Alliance to oversee Binance’s compliance following a $4.3 billion penalty for money laundering violations.
