This week, we cover:
- Sam Bankman-Fried’s unfolding legal conundrum, as U.S. prosecutors proceed with charges against the former FTX CEO, turning to the Bahamian government for critical insight.
- FTX’s intensified scrutiny, with a battle in the U.S. Third Circuit Court of Appeals over the appointment of an independent examiner for the bankrupt exchange.
- Binance’s alleged workforce cuts, with rumors of 20% layoffs sparking concerns over the company’s stability amidst regulatory scrutiny and a shrinking market share.
- Multichain’s disarray, as the CEO of the extensive bridging protocol goes missing amidst technical problems, triggering speculation and anxiety within the crypto community.
- Gemini and Genesis Global Capital’s efforts to dismiss an SEC lawsuit, filed for selling unregistered securities through Gemini’s ‘Earn’ program, causing a stir in the regulatory landscape.
- Crypto mining’s sigh of relief as President Joe Biden’s proposed 30% excise tax is swept away in a debt ceiling deal, potentially sparking new interest in the sector.
- A potential surge in DAI’s Savings Rate, with MakerDAO contemplating a significant increase that could transform the DeFi landscape.
- Tornado Cash’s governance issues, as an anonymous group reversed its control over the decentralized autonomous organization (DAO), leaving the crypto community in suspense.