This week, we cover:
- FTX founder, Sam Bankman-Fried, petitions a Manhattan federal court to dismiss most of the criminal charges against him related to the exchange’s collapse.
- Seattle-based crypto exchange Bittrex files for Chapter 11 bankruptcy amid ongoing legal challenges by the Securities and Exchange Commission (SEC).
- Increased regulatory pressure on digital asset trading in the United States prompts renowned market makers, Jane Street Group and Jump Crypto, to scale back their operations.
- The Aragon Association repurposes its Decentralized Autonomous Organization (DAO), focusing on a new grants program for dApp developers and other DAO creators.
- Digital Currency Group (DCG) seeks to refinance its obligations to Genesis Capital, its insolvent lending arm, as part of a broader strategy to raise growth capital.
- Grayscale Investments announces plans to launch three new exchange traded funds (ETFs) and create a new entity, the Grayscale Funds Trust.
- Bitcoin’s network congestion leads to a temporary halt of withdrawals on Binance and calls for a reconsideration of BRC-20 transactions.
- Crypto lender Voyager Digital moves towards dissolution and asset liquidation after unsuccessful negotiations with both FTX US and Binance.US.
- Ex-Coinbase manager, Ishan Wahi, is sentenced to two years in prison, marking the first insider trading case in the crypto sector.
- Terraform Labs founder Do Kwon, currently held in Montenegro on charges of travel document forgery, puts forward a bail proposal.
- Arthur Hayes, the cofounder of BitMEX, is issued a Singaporean court restraining order at the request of Su Zhu, cofounder of the now-defunct crypto hedge fund Three Arrows Capital.
