In this weekly recap, we cover:
- Solana Mobile’s launch of its second crypto smartphone, following the sell-out success of its first model, the Saga. Priced at $450, the new device aims to further integrate Web3 technologies into daily life.
- Ethereum’s Dencun upgrade experiencing difficulties on the Goerli testnet, raising concerns about its readiness for broader deployment.
- The trial of Do Kwon, former CEO of Terraform Labs, postponed to March amid complications in his extradition process from Montenegro.
- The parents of FTX founder Sam Bankman-Fried filing a motion to dismiss a lawsuit alleging their involvement in fraudulent transfers and breaches of fiduciary duties.
- A security breach at cross-chain protocol Socket, resulting in a $3.3 million loss due to an exploit affecting wallets with infinite approvals to Socket contracts.
- Bitcoin mining sector bracing for impact as Core Scientific prepares to relist shares post-bankruptcy and a CoinShares report suggests only a few miners will remain profitable after the upcoming Bitcoin halving.
- The TrueUSD stablecoin experiencing depegging amid a selling frenzy on Binance, raising questions about the stability and collateralization of stablecoins.
- Genesis Global Trading settling an $8 million lawsuit with the New York State Department of Financial Services, resolving allegations of anti-money laundering and fraud.
- A light-hearted end with Franklin Templeton’s crypto team taking over the firm’s X account, resulting in a series of humorous and unconventional crypto-related posts.