In this weekly recap, we cover:

  • Marginfi CEO Steps Down Amid Fund Exodus: Over $130 million is withdrawn from Marginfi following CEO Edgar Pavlovsky’s resignation due to internal and external disagreements, with rival Solend offering airdrops to entice users to switch platforms.
  • Terraform Labs and Do Kwon’s Legal Troubles: A jury finds Terraform Labs and its co-founder, Do Kwon, liable for civil fraud, related to the collapse of the Terra USD stablecoin, stirring potential for further legal actions.
  • Eisenberg’s Defense in Mango Markets Exploit Case: Avraham ‘Avi’ Eisenberg, accused of exploiting Mango Markets, defends his actions as a legitimate trading strategy amid federal charges of commodities fraud and manipulation.
  • Hong Kong’s Foray into Spot Bitcoin ETFs: Hong Kong is set to approve its first spot Bitcoin ETFs.
  • Metaplanet’s Strategic Bitcoin Investment: Tokyo-based Metaplanet’s stock surges nearly 90% following its announcement to make bitcoin the main asset on its balance sheet.
  • Sushi DAO’s Controversial Treasury Proposal: Amidst backlash and claims of vote manipulation, the Sushi DAO passes a proposal to transfer over $40 million in treasury assets to Sushi Labs.
  • Solana’s Timely Vote Credits to Boost Transaction Speed: In response to recent network congestion, Solana implements the Timely Vote Credits feature, aiming to enhance transaction processing speeds across the network.
  • dYdX Chain Recovers from Upgrade-Related Halt: The dYdX decentralized exchange resumes operations after a brief interruption caused by complications during its version 4.0 upgrade.
  • EigenLayer and EigenDA Launch on Ethereum Mainnet: Following a $12 billion deposit influx, EigenLayer, alongside its data-availability service EigenDA, officially launches on the Ethereum mainnet.