DeFi
Weekly Article Recap: 01/07-05/07
A recap of the week’s major news.
DeFi Week in Review
As the DeFi and crypto space continues to evolve at a rapid pace, it is essential to stay informed about the latest developments and trends. Our weekly recap offers you a concise yet 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 Celebrates US Court Ruling That BNB Token Sales Are Not Securities
A US federal court has ruled that Binance Coin (BNB) is not classified as a security. The decision is a major victory for Binance, a leading cryptocurrency exchange, and challenges the SEC’s approach to regulating digital tokens. The court found the SEC’s arguments unconvincing, noting that cryptocurrencies are not inherently securities and that the specifics of each transaction must be considered.
Find more information in the article.
German Government Keeps Getting Rid of Bitcoin – The Story So Far…
The German government began selling its 50,000 BTC, originally seized from the illegal piracy site Movie2k, on June 19. Recent reports indicate that over $300 million worth of Bitcoin has been transferred to centralized exchanges and an unidentified address. Although it still holds 40,259 BTC valued at $2.3 billion, the sale shows no signs of stopping, even after Justin Sun offered to buy the entire amount off-market.
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FTX Founder SBF’s Family Implicated in $100 Million Political Donations Scandal: WSJ
Sam “SBF” Bankman-Fried’s family is embroiled in a major financial scandal involving over $100 million in FTX assets for political donations. The Wall Street Journal has revealed emails showing the family’s significant role in managing these contributions, aimed at influencing the 2022 election. The legal ramifications are being felt, with several court cases already underway.
Details here.
AI Platform Sentient Raises $85M in Just Two Months from Industry Leading Investors Including MH Ventures and Hack VC
Sentient, a leading decentralized AI platform, has raised $85 million in a seed investment round. The funding, led by Peter Thiel’s Founders Fund, Pantera Capital, and Framework Ventures, positions Sentient to compete with large, centralized AI companies like OpenAI. The investment round, which began in March and closed in May, attracted significant support from leading crypto VCs.
Find more information here.
Binance executive’s health deteriorating in Nigerian prison: report
More than a month after a Nigerian court ordered his transfer to a medical facility, Binance executive Tigran Gambaryan remains in poor health, according to recent reports. Although U.S. lawmakers highlighted harsh prison conditions in June, the Nigerian government denies any mistreatment. Gambaryan’s family and legal team continue to push for his release, citing his deteriorating health due to inadequate medical care and urging compliance with court orders for proper medical attention.
Read the full article history.