Weekly Article Recap: 3/24-3/28

The Stories that You Can’t Afford to Miss This Week

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 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.

Ripple vs. SEC Finally Over After $50M Fine?

Ripple has agreed to end its legal battle with the U.S. SEC, dropping its cross-appeal and settling for $50 million—less than half of the original $125 million fine. The SEC will refund the remaining $75 million and move to lift the injunction on Ripple.

Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed the settlement on X, calling it the final step in the lengthy lawsuit that began in December 2020. 

Details in the article. 

Trump Media and Crypto.com to Launch TruthFi Branded Crypto ETFs

Trump Media, the parent company of Truth Social, has teamed up with Crypto.com to launch exchange-traded products (ETPs) under the Truth Fi brand. The ETPs will focus on cryptocurrencies and sectors like energy, emphasizing a “Made in America” theme. The move aligns with Trump Media’s strategy to blend digital assets with American-focused securities.

Read the full story. 

Binance Suspends Employee Over Insider Trading Allegations

Binance has suspended a former BNB Chain employee accused of using insider information to profit from a Token Generation Event (TGE). The company’s Internal Audit team revealed on March 23 that the staff member allegedly made trades using non-public data from their previous role.

Find more information. 

HyperLiquid Suffers Yet Another Market Manipulation Incident

Decentralized trading platform HyperLiquid has suffered another blow as market manipulation caused a sudden 230% surge in $JELLY’s price, resulting in an unrealized loss of $12 million.

According to Lookonchain, HyperLiquid’s treasury took a $5 million short position on $JELLY, but the token’s rapid rise to $0.16004 nearly triggered liquidation, which could have cost the platform $240 million. The incident follows a similar massive liquidation just weeks ago, raising questions about HyperLiquid’s risk management and security protocols.

Details here.

Floki’s TokenFi Removes 0.3% Buy/sell Tax on $TOKEN

Floki's DAO has voted unanimously to eliminate the 0.3% buy/sell tax on TokenFi's native token, $TOKEN. The move aims to boost accessibility and trading by reducing transaction friction. TokenFi hopes the change will drive ecosystem growth by attracting users interested in creating tokens and tokenizing real-world assets.

Read the full story.