In this weekly recap, we cover:

  • DOJ Cracks Down on Crypto Privacy Tools: Founders of Samourai Wallet, a privacy-focused crypto wallet, were arrested under charges of money laundering, as the DOJ intensifies its scrutiny of crypto mixing services.
  • SEC Attorneys Resign After Court Reprimand: Following a court’s decision that chastised the SEC for “gross abuse of power” in the Debt Box case, two SEC lawyers resigned.
  • Renzo’s ezETH Depegging Crisis: Renzo Protocol faced a market upheaval as its ezETH token dramatically depegged from ETH, shedding light on the vulnerabilities within the liquid restaking token market.
  • Changpeng Zhao Faces Severe SEC Penalties: Amid ongoing regulatory challenges, Binance’s founder, Changpeng Zhao, is confronted with a potential three-year prison sentence proposed by U.S. prosecutors.
  • Grayscale Introduces Cost-effective Bitcoin Mini ETF: Grayscale announced the launch of its new Bitcoin Mini Trust ETF with an industry-low fee structure, aimed at attracting long-term investors.
  • Hong Kong and SEC Take Steps Toward Crypto ETFs: As Hong Kong prepares to launch its first Bitcoin and Ethereum spot ETFs, the SEC has sought public feedback on BlackRock’s amended Ethereum ETF proposal.
  • Blockchain Association’s Legal Challenge Against SEC: The Blockchain Association has taken legal action against the SEC’s recent rule that extends the definition of a securities dealer to include DeFi liquidity providers.
  • NYSE Explores Round-the-Clock Trading: Reflecting the influence of the crypto market’s 24/7 model, the NYSE is contemplating a transition to continuous trading.
  • IRS Drafts Crypto Tax Form 1099-DA: The IRS released a draft of the new form for reporting crypto transactions.
  • Security Breach at El Salvador’s Chivo Wallet: In a disturbing development, hackers targeted El Salvador’s Chivo Wallet, leaking sensitive source code and VPN credentials.