In this weekly recap, we cover:
- Ledger’s Connect Kit vulnerability causes a $504,000 loss and widespread panic in the crypto community.
- FASB’s new rules allow fair valuation of crypto assets on company balance sheets, earning industry praise.
- FTX disputes a $24 billion tax claim by the IRS, emphasizing the claim’s excessiveness compared to its income.
- KuCoin reaches a $22 million settlement with the New York Attorney General, exiting the New York market.
- Binance resists the SEC lawsuit despite the DOJ settlement, challenging the allegations of securities law violations.
- Developments in Bitcoin ETFs: BlackRock and YieldMax propose innovative models amid ongoing SEC discussions.
- Three Arrows Capital’s Su Zhu faces court in Singapore, aiding asset recovery efforts for creditors.
- Montenegro’s High Court extends Terraform Labs cofounder Do Kwon’s detention for extradition deliberations.
