In this weekly recap, we cover:
- SEC to Challenge Ripple’s Partial Victory With Appeal: The U.S. Securities and Exchange Commission announces its intention to appeal a part of the decision related to Ripple Labs, targeting the sales of XRP on exchanges and other distributions, including programmatic sales.
- Legal Turmoil Engulfs FTX: Former co-CEO Ryan Salame negotiates a guilty plea, while former CEO Sam Bankman-Fried faces legal battles, including campaign finance-related charges. New York Times and Harvard Law School Professor Laurence Tribe argue against Bankman-Fried’s gag order.
- Spot Bitcoin ETFs Gain Momentum: The crypto community watches closely as the SEC reviews applications for spot Bitcoin ETFs. CEOs of Galaxy Digital and ARK Invest express optimism, while Better Markets urges rejection.
- U.S. Federal Reserve Launches Oversight on Banks’ Crypto Activities: A new supervision program is unveiled to oversee banks engaged with crypto assets, emphasizing the need for appropriate risk management.
- MakerDAO Spark Protocol Blocks VPNs Amid DAI Savings Rate Changes: MakerDAO restricts access to U.S.-based users and VPNs, sparking criticism from privacy advocates, coinciding with changes in the DAI savings rate.
- Worldcoin Faces Regulatory Scrutiny and Technical Glitches Amid Global Rollout: Challenges arise for Worldcoin in Kenya and Germany, while technical difficulties limit users’ access to wallets.
- Digital Currency Group Faces Inquiry by New York Attorney General: The NYAG probes Digital Currency Group over financial dealings with its subsidiary Genesis Global Capital, raising questions about consumer protection and market manipulation.
- Huobi Faces Insolvency Rumors and Massive Outflows: Rumors of insolvency and police investigations surround crypto exchange Huobi, leading to over $40 million worth of outflows and raising concerns within the crypto community.
- OPNX Bids $30 Million to Acquire Bankrupt Crypto Lender Hodlnaut: Digital asset exchange OPNX bids to acquire Hodlnaut, including a $30 million capital injection of FLEX tokens.
- Curve Finance Offers $1.85 Million Bounty for Hacker’s Identification: Curve Finance opens a bounty to the public to identify the hacker responsible for a recent exploit, extending the offer to anyone who could lead to a conviction.
