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.

Sam Bankman Fried Sentenced to 25 Years in Prison in Historic Trial

In one of the most popular stories of the week, once prominent crypto figure Sam Bankman-Fried has been sentenced to 25 years in prison by Judge Lewis A. Kaplan in Manhattan's Federal District Court. He was convicted of orchestrating one of the largest financial frauds in history, allegedly siphoning over $8 billion from his customers.

Details in the article. 

Binance Executive Tigran Gambaryan Sues Nigeria's NSA and EFCC

Detained Binance executive Tigran Gambaryan has launched legal action against Nigeria's National Security Adviser, Nuhu Ribadu, and the Economic and Financial Crimes Commission (EFCC). Gambaryan, along with the firm's Africa Regional Manager Nadeem Anjarwalla, filed a lawsuit alleging fundamental human rights violations amidst ongoing legal disputes.

Read the full story. 

KuCoin and Its Founders Charged with Criminal Offences by US DOJ

The US Department of Justice (DOJ) has leveled accusations against cryptocurrency exchange KuCoin and its founders, Chun Gan and Ke Tang, alleging violations of anti-money laundering (AML) laws. Charges include conspiracy to breach the US Bank Secrecy Act and running an unlicensed money-transmitting business.

Find more information here. 

Tether Steps Into AI: What’s on Offer?

Stablecoin issuer Tether unveiled plans to explore artificial intelligence (AI), marking a significant shift in its operations. The initiative, led by its new subsidiary Tether Data, focuses on creating open-source, multi-modal AI models.

Read the full story. 

Binance’s Successor in Russia, CommEx, to Cease Operations in April

CommEx, the successor to Binance in Russia, has abruptly halted its operations. In a statement on March 25, the crypto exchange announced an immediate cessation of deposits and new registrations, advising users to withdraw their assets to external wallets.

Find details in the article.