In this weekly recap, we cover:
- Telegram CEO Arrest Sparks Market Reaction: Pavel Durov, CEO of Telegram, was arrested in France over cybercrime allegations, leading to a 20% drop in Toncoin and outages in the TON blockchain network.
- Binance CEO Refutes Palestinian Fund Freeze Allegations: Binance CEO Richard Teng denied claims that the exchange froze all Palestinian assets, clarifying that only accounts linked to illegal activities were affected.
- MakerDAO Rebrands to ‘Sky’ Amid Freeze Function Controversy: MakerDAO rebrands to “Sky” and announces the launch of its new USDS stablecoin, sparking debate over a potential freeze function that contradicts DeFi principles.
- Celsius and FTX Bankruptcy Developments: Celsius begins distributing $2.5 billion to creditors, while FTX faces objections over its reorganization plan as the confirmation hearing approaches.
- SEC’s Lawsuit Against Kraken Moves Forward: A judge ruled that the SEC’s case against Kraken for operating as an unregistered broker will proceed to trial, denying Kraken’s motion to dismiss.
- Coinbase’s Base Network Reaches a Milestone: Base, Coinbase’s Layer 2 network, surpassed one million daily active addresses, outperforming other major Layer 2 solutions.
- Fun Bits: Crypto Startup’s Spy Test Goes Viral: A crypto startup’s creative “North Korea litmus test” for new hires—asking them to curse North Korea—gains attention for weeding out potential spies.
