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.

Craig Wright Dismissed as Satoshi Nakamoto by UK Court

In a significant ruling, a UK court has declared that Craig Wright is not the elusive figure known as Satoshi Nakamoto. The verdict, delivered by Judge James Mellor on March 14, 2024, follows a high-profile case brought by the Crypto Open Patent Alliance (COPA). The judgment, based on compelling evidence, firmly rejects Wright's claims to being the creator of Bitcoin.

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Binance Labs Breaks Ties With Crypto Exchange Binance 

Binance Labs, the venture capital firm, now operates independently from the Binance exchange, forming an autonomous investment division. Despite retaining the Binance brand, it has been operating independently since the start of 2024. This move signifies a shift towards autonomy while maintaining its core mission.

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MicroStrategy Expands Bitcoin Treasury with $821.7M Purchase of 12,000 BTC

MicroStrategy (MSTR) has completed the purchase of 12,000 bitcoins for $821.7 million, increasing its Bitcoin treasury to 205,000 BTC valued at around $14.73 billion. Led by CEO Michael Saylor, the software giant's latest acquisition was funded through a convertible debt offering. 

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Nigeria Demands Transaction History of Top 100 Local Users From Binance

Nigerian officials have ordered Binance to submit transaction records of its top 100 Nigerian users over the past six months. This move follows the detention of two Binance executives and aims to address tax liabilities amid tensions between the exchange and Nigerian authorities. The government's actions align with efforts to stabilize Nigeria's currency, the naira, amid recent devaluations.

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Binance Announces 49th Launchpool Project: What is EtherFi?

Binance has announced EtherFi (ETHFI), a decentralized staking protocol, as the latest project on the Launchpool platform. EtherFi streamlines the staking process, enabling users to stake Ethereum (ETH) and receive eETH in return. Holders can reinvest eETH for extra rewards, enhancing their earning opportunities.

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