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.

Blackrock Denies XRP ETF Plan: Fake Filing Sparks Brief Surge in XRP Price

Earlier in the week, BlackRock firmly denied plans for an XRP exchange-traded fund (ETF) following a fake filing claiming the registration of an iShares XRP Trust. The fraudulent document mimicked BlackRock's filings for Ethereum and Bitcoin ETFs, filed under a managing director's name. The misleading news briefly boosted XRP's price by over 10%. 

Read the full story here. 

Binance to Launch Thai-Based Crypto Exchange in Partnership With Energy Giant

Binance has partnered with Thai billionaire Sarath Ratanavadi's Gulf Energy to launch Gulf Binance, a digital asset platform in Thailand. The collaboration aims to provide a secure and regulatory-compliant cryptocurrency exchange and brokerage service. The platform will initially operate on an invitation-only basis before opening to the wider public in subsequent phases.

Learn more in the article.

OKX Unveils Ethereum Layer-2 "X1" with Polygon CDK Integration

Cryptocurrency exchange OKX has introduced the X1 testnet, a layer-2 solution for Ethereum. Powered by the Polygon chain development kit, X1 aims to enhance Ethereum's scalability using zero-knowledge proofs for secure and private deposit and withdrawal validation. Once the mainnet is live, OKB will be the native coin for gas fees within the X1 ecosystem.

Find more information here. 

SEC and Binance Agree on Protective Order in the Ongoing Legal Showdown

Binance and the SEC's legal battle is taking a new twist with a recent joint motion for a protective order. Dated November 13, this motion, related to a Consent Order from June 17, outlines guidelines for handling confidential information during the ongoing litigation. The proposed protective order emphasizes the high stakes of the case and the importance of addressing legal complexities surrounding sensitive data. 

Learn more in the article.

New York Financial Regulator Issues Stricter Guidelines for Cryptocurrency Listing and Delisting Policies

The New York State Department of Financial Services (NYDFS) has issued updated guidelines for cryptocurrency listing and delisting. Superintendent Adrienne A. Harris unveiled the measures to improve risk assessment standards, focusing on factors such as technology risks, cybersecurity threats, market risks, and potential involvement in illicit activities. The move aims to create a more secure and transparent environment for cryptocurrency investors.

Read the full story here.