In this weekly recap, we cover:
- Optimism’s Grants Spark Decentralization Debate: Kraken’s decision to build on Optimism’s OP Stack comes with a $42.5 million grant.
- Former FTX Exec Nishad Singh Avoids Prison: Nishad Singh, FTX’s ex-head of engineering, receives three years of supervised release after cooperating in Sam Bankman-Fried’s high-profile trial.
- DWF Labs Fires Partner Amid Alleged Drink-Spiking Incident: DWF Labs swiftly dismisses a partner following claims of drink-spiking in Hong Kong.
- Reddit Exits Major Crypto Holdings: Reddit sells most of its Bitcoin and Ethereum holdings.
- Consensys and dYdX Layoffs: Facing economic pressures, Consensys reduces its workforce by 20% while dYdX cuts 35% of its team.
- Tapioca DAO Strikes Back with Counter-Exploit: Following a $4.7 million hack, Tapioca DAO recovers $2.7 million from its attacker.
- Coinbase Unveils ‘Based Agent’ for AI-Driven Crypto Automation: Coinbase’s new tool lets developers create AI-powered crypto agents in minutes.
- FTX Secures $228M Bybit Settlement for Customer Refunds: FTX’s $228 million settlement with Bybit brings it closer to reimbursing customers impacted by its 2022 collapse.
- DeFi Education Fund Challenges SEC’s Regulatory Tactics: The DEF files suit against the SEC’s “regulation by enforcement” approach.
- MicroStrategy’s $42 Billion Bitcoin Expansion Plan: Under its ambitious “21/21 Plan,” MicroStrategy targets $42 billion to double down on its position as the largest corporate bitcoin holder.
- Circle Increases USDC Redemption Fees: In a second fee hike this year, Circle introduces higher USDC redemption fees, impacting users cashing out larger amounts.
- Phantom Wallet Outage During GRASS Airdrop: Solana’s Phantom wallet experiences a three-hour downtime amid a high-demand airdrop of GRASS tokens, restoring service shortly after.
