In this weekly recap, we cover:

  • U.S. District Court Upholds Treasury’s Sanctions on Tornado Cash, ruling in favor of the U.S. Treasury Department against the decentralized privacy tool, marking a significant legal precedent in the regulation of decentralized technologies.
  • Coinbase Fights SEC Lawsuit as Industry Leaders Rally Support, launching the “Stand with Crypto Alliance” and securing approval to list crypto futures in the U.S., while venture capital firms and blockchain advocacy groups rally behind the exchange.
  • FTX and Genesis Seal $175 Million Settlement, resolving a complex legal dispute and reflecting the broader complexities and the need for clear legal frameworks in the crypto industry.
  • Judge Torres Grants SEC’s Request to Appeal in Ripple Case, allowing the SEC to file an appeal in the ongoing legal battle with Ripple Labs, with potential broad implications for the way regulators treat assets similar to XRP.
  • Valkyrie Seeks Ethereum ETF; SEC Delays ARK’s Bitcoin ETF Decision, as Valkyrie Funds files for a new Ethereum Strategy ETF and the SEC extends the wait for a decision on spot crypto ETFs in the U.S.
  • Republicans Question SEC’s ‘Shady Approval’ of Crypto Broker Prometheum, demanding transparency over the approval process and expressing concerns over national security risks.
  • Binance Seeks Protective Order Against SEC, filing a motion to limit the SEC’s discovery requests, and announcing the shutdown of its buy-and-sell service Binance Connect.
  • CoinDesk Trims Editorial Staff by 45% Ahead of Potential Sale, cutting its workforce as it prepares for a potential sale of a stake in the publication.
  • Silvergate Bank’s Top Executives Depart Amid Ongoing Liquidation, announcing the departure of three key executives as the bank winds down operations after reporting significant losses.
  • Celsius Seeks User Approval for Restart as a User-Owned Entity, receiving permission to ask account holders if they want the company to restart as a user-owned entity.
  • Prime Trust Files for Bankruptcy, marking a significant downfall for the crypto custodian.
  • DeFiance Capital’s $140 Million Dispute Heads to Singapore as 3AC Founders Face Dubai Fines, with a legal dispute to be heard in Singapore and fines issued by Dubai’s Virtual Asset Regulatory Authority.
  • Uniswap Terminates Developer Over Alleged ‘Rug Pull’, firing developer Allen Lin following allegations of orchestrating a rug pull on the FrensTech memecoin.