In this weekly recap, we cover:

• Global Stablecoin Push: Citi teams with Coinbase on stablecoin payments, Apollo joins Coinbase on stablecoin lending, Visa expands to four new blockchains, Western Union files “WUUSD” trademark, Circle launches its Arc testnet with 100+ partners, and Stable readies Phase 2 of its USDT network campaign.
• SBF’s Online Defense: Sam Bankman-Fried publishes a document claiming FTX “was never insolvent,” blaming bankruptcy lawyers for its collapse.
• Securitize and Consensys IPO Plans: BlackRock-backed Securitize announces a $1.25B SPAC deal, while Consensys prepares an IPO with JPMorgan and Goldman Sachs.
• ETHZilla’s $40M Selloff: Ethereum treasury firm sells $40M in ETH to fund a $250M buyback after investor pressure to narrow its NAV discount.
• Polymarket’s U.S. Comeback: Prediction platform to relaunch domestically with a sports focus and confirmed plans for a POLY token and airdrop.
• Mastercard Targets Zerohash: Payments giant in talks to acquire crypto infrastructure firm Zerohash for up to $2B.
• MegaETH Mania: Ethereum layer 2 network raises $1.39B in oversubscribed token sale, attracting over 50,000 participants.
• Runaway Bot Hits HYPE: Trading bot sends Hyperliquid’s HYPE token soaring to $98 before crashing, reigniting DeFi liquidity debates.
• Blockworks Ends News Coverage: Crypto media firm shuts its newsroom to focus on its fast-growing data analytics division.