In this weekly recap, we cover:

  • Gemini cofounder Cameron Winklevoss issues a stern warning to Digital Currency Group CEO Barry Silbert over alleged fraud and asset entrapment, stirring up the crypto market.
  • Binance, the world’s largest crypto exchange, faces a leadership crisis as top executives resign over CEO Changpeng Zhao’s handling of ongoing regulatory investigations.
  • BlackRock CEO Larry Fink highlights Bitcoin’s potential as an international asset that could “revolutionize finance,” marking a significant shift in his stance towards the digital currency.
  • Coinbase partners with BlackRock and Valkyrie in their pursuit of a spot Bitcoin ETF, providing Nasdaq with supplemental access to Bitcoin trade data to enhance its ability to detect potential market manipulation.
  • The cross-chain bridge protocol Poly Network falls victim to a massive hack, with the perpetrator minting an estimated $42 billion in tokens across multiple chains, spotlighting security issues in the crypto space.
  • The DeFi world sees a possible security breach at the Multichain bridge on the Fantom network, leading to the withdrawal of tens of millions of dollars in tokens, highlighting the security risks in the DeFi ecosystem.
  • The Commodity Futures Trading Commission concludes that Celsius Network and its former CEO, Alex Mashinsky, violated U.S. regulations, adding to the escalating legal drama in the crypto industry.
  • Azuki’s NFT collection, Elementals, faces backlash due to its striking similarity to the original Azuki NFT collection, spotlighting issues of originality in the NFT space.
  • The founders of the bankrupt hedge fund Three Arrows Capital pledge to donate future earnings from their new venture, Open Exchange, to the creditors of 3AC, underscoring the financial risks in the crypto investment sector.
  • The U.S. District Court for the Northern District of California rules that crypto exchange Kraken must provide the Internal Revenue Service with account and transaction information, reflecting the ongoing tension between crypto platforms and regulatory bodies.
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