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.

SEC Moves to Amend Complaint Against Binance, Binance.US, and Zhao: Solana (SOL) May Be Impacted

The SEC plans to amend its complaint against Binance Holdings, Binance.US, and co-founder Changpeng Zhao. The amendment will redefine "third-party crypto asset securities" and could include Solana (SOL) among the scrutinized tokens. This move follows recent court rulings and indicates a broader reevaluation of cryptocurrency regulation.

Find more information here. 

OKX's Venture Arm and Aptos Foundation Announce $10M Fund to Boost Aptos Ecosystem

OKX Ventures and the Aptos Foundation have launched a $10 million fund called Ankaa to support projects on the Aptos blockchain. The fund will focus on decentralized finance, real-world assets, gaming, social, and AI projects. It will be jointly managed by Aptos, OKX Ventures, and Alcove, Aptos' accelerator. The partnership aims to develop new financial products.

Details in the article. 

Michael Saylor's MicroStrategy Plans to Raise $2B to Buy More Bitcoin

MicroStrategy is intensifying its focus on cryptocurrency. The company filed with the SEC to raise $2 billion through the sale of class A shares, intending to use the funds for general corporate purposes, including acquiring more Bitcoin. The filing doesn't specify when the share sale will occur or how much will be allocated to Bitcoin purchases but confirms the company's commitment to increasing its Bitcoin holdings.

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BNB Chain Announces Winners of Second BNB Incubation Alliance Round

BNB Chain announced the winners of the second round of its BNB Incubation Alliance: Avalon Finance and Bedrock. Avalon Finance is noted for its liquidity hub for BTC LSDFi and CeDeFi lending, while Bedrock is a multi-assets restaking protocol. Both projects will join BNB Chain’s Most Valuable Builder program for further growth support.

Learn more in the article. 

ZKX Protocol Closes, Triggering Over 50% Drop in ZKX Token Value

ZKX, a social trading platform on Starknet, has shut down. Founder Eduard Jubany Tur announced the closure, citing financial difficulties, low user engagement, and reduced trading volumes. All trading markets have been removed, open positions closed, and funds returned to users. Users can now transfer their assets from ZKX's self-custodial wallets back to layer 1 via the available bridge.

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