In this weekly recap, we cover:
- FTX commits to fully repaying customers, despite not reviving operations, as part of its ongoing bankruptcy proceedings.
- Celsius Network begins distributing over $3 billion in assets to creditors as part of its bankruptcy reorganization process.
- Tether reports a staggering $2.85 billion profit in Q4, a remarkable achievement driven by U.S. Treasury earnings and other investments.
- Genesis reaches a $21 million settlement with the SEC, conditional on its ability to repay creditors in Chapter 11 bankruptcy.
- German and UK police forces make massive Bitcoin seizures, confiscating over €2.1 billion and £1.8 billion respectively in separate crackdowns.
- Binance adapts to changing market needs, allowing larger traders to securely store funds and partnering with Sygnum Bank and FlowBank.
- Ripple cofounder Chris Larsen’s personal accounts suffer a $113 million exploit, highlighting security issues in the crypto sector.
- DeFi platform Abracadabra.money’s MIM stablecoin depegs after a $6.5 million exploit, impacting its parity with the U.S. dollar.
- Polygon Labs reduces its workforce by 19% following rapid growth during the previous crypto bull run.
