Recapping the Week in DeFi

As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings. 

Coinbase Secures Major Payment Institution License in Singapore

Following an initial In-Principle Approval granted in October last year, Coinbase has now officially received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This allows the company to provide Digital Payment Token services to individuals and institutions in the region.

Find more information here. 

Sui Announces $50+ Million Ecosystem Fund

Sui Foundation is establishing a $50+ million fund to enhance the decentralized finance ecosystem on Sui. Notably, the fund will be fueled by retrieving 117 million SUI tokens from external market makers, rather than investors seeking exposure to Sui. 

Read more in the article.

US Judge Rejects SEC's Appeal of $XRP Ruling in Ripple Case

In a significant development in the SEC vs. Ripple legal battle, U.S. District Judge Analisa Torres upheld her previous ruling that Ripple's XRP digital token sales were compliant with federal securities laws. This decision deals a major setback to the SEC's enforcement efforts.

Learn more here.

Orbiter Finance Responds to Rug Pull Concerns

Earlier in the week, Orbiter Finance responded to concerns and accusations of a rug pull within its community. The project reassured users about the functionality of their bridge and explained the reasons for failed transactions.

Get all the details in the article. 

Ether Futures ETFs Hit the Market: ProShares, VanEck, and More Offer Options

In a major milestone for the crypto industry, a series of exchange-traded funds (ETFs) focused on ether futures performance were introduced over the week. ProShares led the way with the ProShares Ether Strategy ETF, along with two other options offering a combination of exposure to both bitcoin and ether.

Discover the rest of the ether futures ETFs in this article.