In this weekly recap, we cover:

  • Former FTX Executive Ryan Salame Sentenced to 7.5 Years in Prison: Ryan Salame, ex-co-CEO of FTX Digital Markets, was sentenced to 7.5 years in prison for campaign finance violations and operating an unlicensed money business.
  • Terraform Labs and Do Kwon Reach Settlement With SEC: Terraform Labs and Do Kwon reached a settlement with the SEC over fraud allegations related to the collapse of their stablecoin.
  • ETH ETFs Approved, But Staked Ether Could Still Face SEC Scrutiny: The SEC approved Ethereum spot ETFs, classifying ether as a commodity, but staking activities remain under regulatory scrutiny.
  • Caitlyn Jenner Criticizes Sahil Arora Amid Memecoin Controversy: Caitlyn Jenner criticized Sahil Arora for misconduct despite promoting her memecoin, $JENNER.
  • BlackRock’s IBIT Becomes World’s Largest Bitcoin Fund: BlackRock’s iShares Bitcoin Trust surpassed Grayscale to become the largest Bitcoin fund, holding nearly $20 billion in assets.
  • DWF Labs to Invest in Memecoins, Shows Strong Interest in LADYS: DWF Labs announced plans to invest significantly in memecoins, particularly the LADYS token.
  • Gemini to Return $2.18 Billion to Users: Gemini will return $2.18 billion to users of its Earn program following a settlement with the New York Attorney General.
  • Polyhedra and zkSync Clash Over “ZK” Token Ticker: Polyhedra and zkSync are in dispute over the “ZK” token ticker, with industry leaders siding with Polyhedra.
  • Mt. Gox Cold Wallet Transfers $9 Billion in Bitcoin: Mt. Gox transferred 141,664 BTC, worth approximately $9 billion, for the first time in five years, sparking speculation about creditor payouts.
  • PayPal USD Goes Live on Solana: PayPal launched its stablecoin, PYUSD, on the Solana blockchain for faster and more cost-effective transactions.