In this weekly recap, we cover:
- SEC Chair Gary Gensler facing a barrage of questions from U.S. lawmakers, urging for clarity on crypto regulations and the approval of spot Bitcoin ETFs.
- Binance’s exit from the Russian market, selling its operations to the enigmatic CommEX, sparking questions and skepticism.
- Do Kwon’s legal team battling the SEC on “geographic concerns,” as he remains detained in Montenegro.
- Gemini Trust countering New York Post’s claims, clarifying the withdrawal of $282 million from Genesis was to protect their Earn users.
- FTX taking legal action to reclaim $157.3 million from former Hong Kong affiliate employees, alleging insider connections were exploited.
- Celsius and BlockFi navigating bankruptcy waters, with creditors approving restructuring and liquidation plans, respectively.
- Marathon Digital stumbling on an invalid Bitcoin block, causing a temporary dip in share value.
- Kraken eyeing an expansion into stock trading, potentially becoming a direct competitor to Robinhood.