In this weekly recap, we cover:

  • Terraform Labs Settles SEC Fraud Case: Terraform Labs will pay $4.47 billion to settle SEC fraud charges related to the Terra/Luna collapse.
  • Ether ETFs Approval by Summer: SEC Chair Gary Gensler announced Ethereum spot ETFs will be fully approved by the end of summer.
  • Paxos Cuts Workforce: Paxos lays off 20% of its staff despite having over $500 million on its balance sheet.
  • PleasrDAO Sues Martin Shkreli: PleasrDAO sues Martin Shkreli for allegedly sharing a unique Wu-Tang Clan album they purchased.
  • ZKsync Announces Massive Airdrop: ZKsync to airdrop 3.6 billion ZK tokens, valued at $1.4 billion, to 695,232 wallets.
  • Optimism Implements ‘Fault Proofs’: Optimism introduces fault proofs to enhance security and reliability.
  • Solana Foundation Removes Validators: Solana removes validators engaging in MEV sandwich attacks from its Delegation Program.
  • UwU Lend Hack Leads to $19M Loss: UwU Lend suffers a $19 million exploit, with founder Michael Patryn offering a 20% bounty for the return of funds.
  • MicroStrategy Proposes $500M Debt Sale: MicroStrategy plans a $500 million convertible note sale to buy more Bitcoin.
  • Curve Finance Founder Liquidated: Curve Finance founder Michael Egorov faces significant liquidations amid a CRV price drop.
  • Trump Pledges to be ‘Crypto President’: Donald Trump promises to champion cryptocurrency at a San Francisco fundraiser.
  • Migrates to Friendchain: announces its move from Base to its own blockchain, Friendchain.
  • Paradigm Raises $850M for Crypto Fund: Paradigm secures $850 million for its third crypto-focused investment fund.