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This week in crypto: Stablecoin regulation stalls, Hong Kong debuts spot ETFs, a16z buys into Optimism, FTX unloads Solana holdings, and extra!
Posted Might 3, 2024 at 10:07 am EST.
On this weekly recap, we cowl:
- Changpeng Zhao’s 4-Month Sentence: The previous CEO of Binance, Changpeng Zhao, generally generally known as “CZ”, was sentenced to 4 months in jail for violating the Financial institution Secrecy Act, concluding a prolonged Division of Justice investigation into Binance’s anti-money laundering practices.
- DeFi Token Decline Publish-Airdrop: Tokens from DeFi protocols Renzo and Kamino suffered steep declines following their market debut.
- Tether Information a Stellar Q1: Tether achieved a record-breaking revenue of $4.52 billion within the first quarter, pushed by substantial holdings in US Treasuries, Bitcoin, and gold.
- Regulatory Roadblocks for Stablecoins: Efforts to manage stablecoins within the U.S. confronted setbacks as proposed laws failed to connect to the FAA reauthorization invoice.
- Hong Kong Leads with Spot Bitcoin and Ethereum ETFs: Hong Kong’s monetary markets marked a primary in Asia with the profitable launch of six spot Bitcoin and Ethereum ETFs,.
- A16z’s Strategic Funding in Optimism: Enterprise capital agency a16z invested $90 million in Optimism’s OP token, reinforcing its dedication to Ethereum’s Layer 2 scalability options.
- Tax Fraud Costs In opposition to ‘Bitcoin Jesus’: Roger Ver, also referred to as “Bitcoin Jesus”, faces allegations of tax fraud for failing to report capital good points from important Bitcoin gross sales in 2017.
- FTX Continues Liquidation with Solana Token Gross sales: The FTX property progressed in its liquidation efforts, concluding a second public sale of locked Solana tokens with substantial investor curiosity.
- Authorized Scrutiny Over Crypto Privateness Instruments: Samourai Pockets co-founder Keonne Rodriguez pleaded not responsible to prices associated to working a privacy-centric crypto service.
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