DeFi
Weekly article summary: 6/03-6/07
A summary of the notable new releases of the week.
Recap of the week in DeFi
As the DeFi and crypto space continues to evolve at a rapid pace, it is essential to stay informed with the latest developments and trends. Our weekly recap provides you with a concise but comprehensive overview of the most important news and trends in the DeFi and crypto space, helping you stay informed and up to date with the latest happenings.
Binance to Impose Restrictions on “Unauthorized” Stablecoins for EU Users
Binance will limit the availability of certain stablecoins in the European Union, aligning with the EU’s new Crypto Asset Markets (MiCA) regulations. MiCA requires that only stablecoins issued by regulated entities can be offered to the public. The regulations aim to improve oversight and consumer protection in the crypto market, by categorizing compliant stablecoins as “regulated stablecoins” and placing restrictions on those considered “unauthorized stablecoins.”
Read the full history.
More than 100 former US officials urge State Department to act following arrest of Binance executive in Nigeria
More than 100 former US prosecutors and federal agents have urged the State Department to secure the release of Tigran Gambaryan, detained in Nigeria. In a June 6 letter to Secretary of State Antony Blinken, they criticized the government’s efforts as insufficient and warned of dire consequences. Gambaryan, a former IRS special agent who now leads Binance’s financial crime compliance team, was arrested in February on money laundering and tax evasion charges his colleagues claim are false .
Find more information here.
Robinhood to Acquire Bitstamp Crypto Exchange in $200 Million Deal
Robinhood is set to buy Bitstamp, the UK-based cryptocurrency exchange, for $200 million in an all-cash deal expected to close in early 2025. The acquisition aims to boost its presence of Robinhood in the global cryptocurrency market and attract institutional clients. Both companies ensure a smooth transition with no service interruption.
Read the details in the article.
Vitalik Buterin Slams Celebrity Memecoins, Calls for Meaningful Crypto Projects
Vitalik Buterin, co-founder of Ethereum, has raised concerns about the growing trend of celebrity-backed meme coins. He urges the crypto community to prioritize projects with real value. This comes after Australian rapper Iggy Azalea launched her own play, Mother Iggy (MOTHER), sparking significant debate in the crypto world.
Learn more here.
Michael Saylor and MicroStrategy to pay $40 million to settle tax evasion lawsuit
MicroStrategy CEO Michael Saylor has agreed to a $40 million settlement with Washington, DC, in a tax evasion lawsuit, marking the largest income tax settlement in the city’s history. This case is the first under the District’s amended False Claims Act, which encourages whistleblowers to report tax evasion by residents misrepresenting their residence.
Details in the article.