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 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.

Ripple Dollar (RLUSD) Launches with Full Transparency and Regulatory Backing

Ripple has introduced Ripple Dollar (RLUSD), a U.S. dollar-backed stablecoin aimed at improving blockchain-based financial solutions. Officially launched on December 17, 2024, RLUSD is available on exchanges like Uphold, Bitso, and CoinMENA, with more listings planned. Future plans include expanding RLUSD’s role in tokenized assets and leveraging Ripple’s global payment network to drive adoption across key regions.

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​​Ohio Introduces Bitcoin Reserve Bill to Strengthen State Finances

Ohio Republican House leader Derek Merrin has introduced the Ohio Bitcoin Reserve Act (HB 703), aiming to establish a Bitcoin fund within the state treasury. If passed, the bill would authorize the state treasurer to include Bitcoin in Ohio's asset allocation. Ohio becomes the third U.S. state to propose such legislation this month, reflecting growing interest in Bitcoin's role in government reserves. 

Learn more. 

UK Judge Sentences Craig Wright to One Year in Prison for Contempt of Court

Dr. Craig Wright, the self-declared inventor of Bitcoin, received a one-year suspended prison sentence from a UK court for contempt. He will avoid jail unless he breaches court orders within the next two years. Wright was also fined £145,000, payable within two weeks. The court cited his defiance, including refusing to attend hearings in person and demanding £240,000 to cover costs, as key factors in the ruling.

Details here. 

Bitwise Launches Solana Staking ETP in Europe: What to Know

Bitwise has launched a Solana staking ETP, BSOL, in Europe, offering a 6.48% annualized yield. The move follows its acquisition of the ETC Group, enhancing its European presence and tapping into the growing demand for crypto-staking products.

Find more information. 

Nigeria’s Anti-Corruption Agency Busts Massive Crypto Romance Scam, Arrests 792 in Lagos

Nigeria's Economic and Financial Crimes Commission (EFCC) has arrested 792 suspects in Lagos, dismantling a major cryptocurrency romance scam syndicate. The December 10 raid, described as the largest in Nigeria’s history, involved locals and foreigners, including 148 Chinese nationals, 40 Filipinos, and others from Kazakhstan, Pakistan, and Indonesia. EFCC spokesperson Wilson Uwujaren confirmed the suspects' ties to a global network of crypto and online romance fraud operations.

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