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.

Binance Celebrates as US Court Rules BNB Token Sales Are Not Securities

 A U.S. federal court has determined that Binance Coin (BNB) is not classified as a security. This ruling is a significant win for Binance, a leading cryptocurrency exchange, and challenges the SEC’s approach to regulating digital tokens. The court found the SEC's arguments unconvincing, emphasizing that cryptocurrencies are not inherently securities and that each transaction's specifics must be considered.

Find more information in the article. 

German Govt’s Endless Bitcoin Dump - The Story So Far…

The German government began selling its 50,000 BTC holdings, originally seized from the illegal piracy website Movie2k, starting June 19th. Recent reports indicate over $300 million worth of Bitcoin has been moved to centralized exchanges and an unidentified address. Despite still holding 40,259 BTC valued at $2.3 billion, the sell-off shows no signs of stopping, even after Justin Sun's offer to purchase the entire amount off-market.

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FTX Founder SBF's Family Involved in $100M Political Donation Scandal: WSJ

Sam “SBF” Bankman-Fried’s family is embroiled in a major financial scandal involving over $100 million in alleged misuse of FTX assets for political donations. The Wall Street Journal reveals emails showing the family's significant role in managing these contributions, aimed at influencing the 2022 elections. Legal consequences are unfolding with multiple court cases already underway.

Details here. 

AI Platform Sentient Raises $85M in Just Two Months from Industry’s Top Investors, Including MH Ventures and Hack VC

Sentient, a leading decentralized AI platform, has raised $85 million in a seed investment round. The funding, led by Peter Thiel’s Founders Fund, Pantera Capital, and Framework Ventures, positions Sentient to compete with major centralized AI companies like OpenAI. The investment round, which began in March and concluded in May, attracted significant support from top crypto VCs. 

Find more information here. 

Binance Exec Health Deteriorates in Nigeria Prison: Report

Over a month after a Nigerian court ordered his transfer to a medical facility, Binance executive Tigran Gambaryan remains in poor health, as per recent reports. Despite US lawmakers highlighting the harsh prison conditions in June, Nigeria's government denies any mistreatment. Gambaryan's family and legal team continue to push for his release, citing worsening health due to inadequate medical care and urging compliance with court orders for proper medical attention.

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