In this weekly recap, we cover:

  • The controversy surrounding the Arbitrum Governance Proposal, which aimed to allocate 750 million ARB tokens to the Arbitrum Foundation for funding special grants without undergoing a full on-chain governance process.
  • The $50 million in liquidations sparked by a tweet from crypto influencer Cobie, which suggested an international arrest warrant for Binance CEO Changpeng Zhao (CZ).
  • The launch of Open Exchange (OPNX) by the founders of Three Arrows Capital (3AC), which plans to facilitate claims trading for users affected by bankruptcies of crypto trading platforms.
  • Over 30 Ethereum projects joining forces to launch MEV Blocker, a tool designed to prevent Maximal Extractable Value (MEV) bots from front-running transactions.
  • The hacker behind the largest DeFi hack of 2023 returning all the $200 million in crypto stolen from Euler Finance.
  • The U.S. Treasury Department releasing its first-ever report on illicit finance risks associated with the decentralized finance (DeFi) sector.
  • The $1 billion deal between Binance.US and Voyager Digital being put on hold by a federal judge in New York.
  • The suspension of operations by peer-to-peer Bitcoin marketplace, Paxful, citing key staff departures and a lawsuit filed by co-founder Artur Schaback against CEO Ray Youssef and the company.
  • The SEC being close to settling an insider trading case with former Coinbase employee Ishan Wahi and his brother, Nikhil Wahi.