In this weekly recap, we cover:

  • Biden Vetoes SAB 121 Repeal: President Biden vetoes a resolution to overturn the SEC’s SAB 121.
  • FTX Settles $24B IRS Claim: FTX settles a $24 billion tax claim with the IRS for $885 million.
  • Changpeng Zhao Begins Prison Sentence: Binance founder Changpeng Zhao starts his four-month prison term.
  • Robinhood to Acquire Bitstamp: Robinhood plans to acquire crypto exchange Bitstamp for $200 million.
  • Kraken Weighs Pre-IPO Fundraise: Kraken considers a $100+ million fundraising round ahead of a potential IPO.
  • Franklin Templeton Eyes Crypto Fund: Franklin Templeton is considering launching a crypto fund for institutional investors.
  • Linea and Cosmos Hub Halt Block Production: Linea and Cosmos Hub temporarily halt block production due to security issues.
  • VanEck Predicts Ether to Reach $22K by 2030: VanEck projects Ethereum’s ether to reach $22,000 by 2030.
  • Matter Labs Drops ‘ZK’ Trademark Applications: Matter Labs withdraws its trademark applications for “ZK” after industry backlash.
  • Solana Sees Record Token Launches in May: Solana hits a record with 455,000 new tokens launched in May.
  • BlackRock’s BUIDL Fund Distributes $1.7M: BlackRock’s BUIDL fund distributes $1.7 million in monthly dividends to its holders.
  • Galaxy Digital Tokenizes Stradivarius Violin: Galaxy Digital tokenizes a 1708 Stradivarius violin valued at $9 million.
  • Eric Wall’s Take on Memecoins: Eric Wall humorously comments on celebrity memecoins like Caitlyn Jenner’s and Iggy Azalea’s.