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.

Solana Faces Major Outage: Engineers Working to Resolve

Earlier in the week, the Solana blockchain grappled with a significant outage which saw the $SOL token drop by 3.66% to $94. This incident recalls a similar outage in February 2023, during which Solana endured nearly two days of downtime. Remarkably, this marks the eleventh outage for the blockchain in the two years since its inception.

Read the full details here.

Binance Launches 46th Project on its Launchpool: Pixels, a Web3 Game on Ronin Network

Binance has launched Pixels (PIXEL), a Web3 game on Ronin Network, as its 46th launchpool project. Users can join the PIXEL Launchpool through staking and farming on Binance. Hourly caps per user ensure fair rewards distribution. Rewards are split between BNB and FDUSD pools, with 80% for BNB and 20% for FDUSD.

Learn more in the article. 

OKX to Face Investigation in South Korea: Reports

Top South Korean cryptocurrency exchanges, forming the Digital Asset Exchange Alliance (DAXA), have jointly reported global platform OKX to local authorities for allegedly operating without proper registration in South Korea. The report suggests OKX promoted its services to South Korean users through Telegram influencers, potentially violating regulations.

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Ethereum Dencun Upgrade Successfully Implemented on Holesky Testnet

The latest Ethereum Dencun upgrade has completed its final test on the Holesky testnet, signaling readiness for mainnet deployment next month. Following earlier testnet deployments, the Ethereum community awaits the official announcement of the mainnet launch date.

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Montenegro Court Rejects Do Kwon Extradition Over Procedural Flaws

In a recent development, the Montenegro Court of Appeals has reversed its earlier decision to permit the extradition of Do Kwon, former CEO of TerraForm Labs, to the United States. The court cited "significant violations" in the initial extradition ruling by the High Court of Podgorica.

Learn more in the article.