In this weekly recap, we cover:
- Ripple Fined $125 Million by SEC: Ripple is fined $125 million for institutional sales violations. XRP rose over 20% following the news.
- FTX Creditors to Receive $12.7 Billion: FTX and Alameda Research settle with the CFTC, distributing $12.7 billion to creditors.
- Lawmakers Push for Ban on Election Betting: Senators urge the CFTC to finalize a rule banning election betting. The SEC and Coinbase clash over discovery requests.
- Ethereum Complies With Tornado Cash Sanctions: A NY Fed report reveals Ethereum validators largely adhere to sanctions on Tornado Cash, despite some ongoing activity.
- Ronin Bridge Paused After $11.8 Million Whitehat Hack: The Ronin bridge was paused after a whitehat hack. The funds were returned, and the hackers received a $500,000 bounty.
- DJT Memecoin Crashes 90%: The DJT memecoin dropped 90% after a developer-linked wallet sold $2 million in tokens. Martin Shkreli blamed Barron Trump for the sell-off.
- Genesis Completes Restructuring: Genesis Global completes restructuring and begins distributing $4 billion to creditors, with varying recovery percentages.
- Franklin Templeton Expands Fund to Arbitrum: Franklin Templeton’s OnChain U.S. Government Money Market Fund is now available on Arbitrum, integrating DeFi with traditional finance.
