Crypto Weekly Recap: SEC, Celsius, and More
This week in crypto, there’s been a mix of good news, bad news, and everything in between. Let’s dive into the biggest headlines:
SEC Ends Paxos Stablecoin Probe
The SEC has finally closed its investigation into Paxos, a major stablecoin issuer. This is seen as a positive sign for the crypto industry, signaling that the regulator may be taking a more lenient approach to stablecoins.
Celsius Sues Users
Celsius, the bankrupt crypto lender, is going after users who withdrew large sums of money before the company went under. The company is suing users who withdrew over $100,000, claiming they acted unfairly.
Polychain Accuses Ex-Partner
Polychain, a prominent crypto investment firm, is accusing its former partner Niraj Pant of shady dealings. Polychain alleges that Pant secretly negotiated a deal involving the Eclipse token without disclosing it.
Senate Crypto Hearing
The Senate held a hearing to discuss new crypto legislation that would regulate the industry under the CFTC. The hearing was a chance for lawmakers to discuss the need for regulatory clarity and how to protect investors.
Trump’s GOP Platform Supports Crypto
The Republican Party platform has officially come out in favor of cryptocurrencies. The platform specifically supports crypto and opposes the creation of a central bank digital currency (CBDC).
StarkWare’s Staking Proposal
StarkWare, the company behind the StarkNet scaling solution, has proposed a phased staking system for the network. This move aims to improve the network’s resilience and security.
Aave DAO Criticizes MakerDAO
The Aave DAO, the governance body for the Aave lending platform, is criticizing MakerDAO for reducing Spark’s profit share. Spark is a DeFi protocol that integrates with MakerDAO.
Cambodian Crypto Scam
The Cambodian ruling family has been linked to an alleged $11 billion crypto scam. The scam involved a fraudulent cryptocurrency called “OneCoin.”
BlackRock’s BUIDL Fund Milestone
BlackRock, a major asset manager, has announced that its BUIDL tokenized treasury fund has surpassed $500 million in assets.
Solana’s Firedancer Milestone
Firedancer, a Solana validator client, has built its first testnet block. Firedancer is designed to increase Solana’s throughput and efficiency.
BONK Reclaims Memecoin Top Spot
BONK, a Solana-based memecoin, has overtaken WIF as the top Solana memecoin.
