In this weekly recap, we cover:
- Nevada’s Financial Institutions Division (FID) takes stringent action against crypto custodian Prime Trust, igniting concerns in the crypto market.
- FTX founder Sam Bankman-Fried’s legal motions to dismiss fraud charges are denied, adding to the escalating legal drama in the crypto industry.
- Coinbase pushes back against its ongoing SEC lawsuit, challenging the regulatory authority’s interpretation of digital tokens as securities.
- Fidelity files for a Bitcoin Exchange-Traded Fund (ETF) with the SEC, joining the competitive ETF race in the financial market.
- Azuki’s newly released NFT collection, Elementals, faces backlash due to its striking similarity to the original Azuki NFT collection, spotlighting issues of originality in the NFT space.
- Binance.US’s legal wrangle with the SEC intensifies, reflecting the ongoing tension between crypto platforms and regulatory bodies.
- BlockFi faces potential liquidation amid allegations of fraudulent activities and delay tactics, highlighting the fragile financial situation of crypto lenders.
- The founders of Three Arrows Capital (3AC) face a $1.3 billion recovery claim by the fund’s liquidators, underscoring the financial risks in the crypto investment sector.
- The Sui Foundation refutes allegations of selling locked staking rewards on Binance, leading to a conflict over transparency in the DeFi ecosystem.
- A team of anonymous developers propose a plan to revive the Terra Classic blockchain, showcasing the potential resilience and adaptability of blockchain networks.
