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.

US SEC Escalates Legal Battle Against Justin Sun with Amended Lawsuit

The SEC has escalated legal action against Tron founder Justin Sun with an amended lawsuit asserting jurisdiction over him in the U.S. This follows Sun's attempt to dismiss the case, claiming lack of SEC jurisdiction. The amended complaint maintains allegations of unregistered securities sales through TRX and BTT tokens, along with claims of manipulative trading, notably on Bittrex.

Details here.

Binance Prepares for Return to India After Paying $2M Fine

Binance is poised for a comeback in India following regulatory hurdles. After settling issues and reportedly paying a $2 million fine, Binance is set to re-enter the Indian market. The exchange had been banned earlier for non-compliance with local financial regulations. 

Read the full story. 

Aptos Announces Strategic Partnerships With Microsoft, Brevan Howard and More

Aptos Labs has announced key partnerships with Tech and Finance Giants, including Microsoft, Brevan Howard, SK Telecom, and Boston Consulting Group. The collaborations aim to enhance Aptos' services, prioritizing compliance, privacy, and tech advancement.

Find more information in the article.

Worldcoin Launches Ethereum Layer 2 "World Chain" to Enhance User Experience

Worldcoin, led by Sam Altman's Tools for Humanity, has announced World Chain, its Ethereum Layer 2 blockchain. The move targets improved efficiencies and smoother user onboarding, leveraging Worldcoin's innovative method of verifying human users in an AI-driven digital landscape.

Learn more here.

Hedgey Finance Reportedly Suffers $44.7M Exploit 

Hedgey Finance, a DeFi platform specializing in DAO support fell prey to a major cyberattack. Reports from Cyvers Alerts and CertiK reveal the platform lost $44.7 million across Arbitrum and Ethereum blockchains.

Learn the details of the attack here.