In this weekly recap, we cover:
- Trump-Backed DeFi Project and Its Dough Finance Ties: Donald Trump’s World Liberty Financial crypto project allegedly draws from the codebase of the hacked Dough Finance.
- Solana’s ‘Network Extensions’ vs. Ethereum’s L2s: A new debate sparks between Solana and Ethereum communities as Solana introduces “network extensions,” which some argue are just Layer 2 solutions under a different name.
- SEC Warns FTX About Crypto Repayments: The SEC cautions FTX against using stablecoins and other digital assets to repay creditors.
- Federal Reserve’s Cease-and-Desist Order to United Texas Bank: The Fed targets crypto-friendly United Texas Bank for significant deficiencies in anti-money laundering compliance.
- 21Shares Launches Wrapped Bitcoin on Ethereum: 21Shares introduces 21BTC on the Ethereum blockchain, offering a secure alternative to existing wrapped Bitcoin options amid declining trust in WBTC.
- Polygon’s Migration from MATIC to POL: Polygon begins its shift from MATIC to the new POL token, a key part of its “Polygon 2.0” roadmap.
- Bitcoin Miners’ Worst Month Since 2023: August marks a tough month for Bitcoin miners, with revenues plummeting due to post-halving challenges and falling transaction fees.
- WazirX Users Face Major Losses Post-Hack: Following a $234 million hack, WazirX users are likely to recover only about 55% of their funds, as the exchange undergoes restructuring.
- Fun Bits: Near Protocol’s X Account Hack as a Marketing Stunt: Near Protocol’s X account “hack” turns out to be a clever marketing move to promote an upcoming hackathon.
