In this weekly recap, we cover:
- SEC Appeals Ripple Case: The SEC files an appeal against a recent ruling, arguing it conflicts with decades of Supreme Court precedent on securities laws.
- Bitwise Registers XRP ETF: Bitwise makes its move to offer an XRP-focused ETF, filing its first steps in Delaware.
- North Korea’s Infiltration of Crypto: A CoinDesk investigation reveals how North Korean IT workers infiltrated over a dozen blockchain companies.
- CFTC Subcommittee on Tokenized Shares: A CFTC subcommittee moves recommendations forward to allow firms like BlackRock and Franklin Templeton to use tokenized shares as collateral.
- EigenLayer’s EIGEN Token Unlocks for Trading: EigenLayer finally unlocks its EIGEN token for trading, but the launch faces criticism over transparency regarding early investors.
- FTX Bankruptcy Plan Faces Criticism: FTX’s bankruptcy estate sparks frustration by setting aside $230 million for preferred shareholders, leaving some creditors feeling shortchanged.
- World Liberty Financial Launches KYC: The Trump-backed crypto project opens up KYC verification with thousands signing up, but U.S. regulations restrict many investors.
- SEC Enforcement Director Grewal Steps Down: Gurbir Grewal, the SEC’s enforcement director, announces his departure, with speculation around his sudden exit stirring debates.
- Binance Founder CZ Released: Changpeng Zhao, founder of Binance, is released from custody after serving a four-month sentence.
- Mango Markets to Destroy MNGO Tokens: Mango Markets agrees to destroy its MNGO tokens as part of an SEC settlement.
- Fun Bits: Diddy and SBF’s Jailhouse Connection: In an unexpected twist, Diddy and Sam Bankman-Fried are now jail buddies—and they even share the same lawyer!
