In this weekly recap, we cover:

  • Former Celsius CEO Alex Mashinsky is arrested amid a wave of charges brought by several US agencies.
  • FTX launches a claims portal for creditors, marking the beginning of a refund process following the recovery of over $7 billion.
  • Multichain, the cross-chain protocol, faces allegations of a possible internal ‘rugpull’ following unauthorized withdrawals amounting to over $125 million.
  • The U.S. Securities and Exchange Commission (SEC) counters Coinbase’s motion to dismiss the regulator’s lawsuit, asserting that the crypto exchange was aware of securities laws applicable to its business.
  • Binance.US, the American subsidiary of the global crypto exchange Binance, battles market fears over its Bitcoin Cash (BCH) reserves.
  • Prometheum faces calls for investigation from U.S. Senator Tommy Tuberville and five congressional colleagues over its recent federal permissions to offer crypto trading services. 
  • The U.S. government moves approximately $300 million worth of Bitcoin, previously linked to the infamous Silk Road marketplace.
  • Polygon proposes an upgrade of its native MATIC token to Polygon (POL) to enhance the scalability of the ecosystem without compromising security.
  • Algofi, the largest decentralized finance (DeFi) protocol on the Algorand blockchain, announces its impending closure by year’s end.