Weekly Article Recap: March 24-28

Keeping up with the fast-paced evolution of the DeFi and crypto space is crucial to staying informed about the latest developments and trends. Our weekly recap offers a concise yet thorough overview of the most significant news and trends in the DeFi and crypto realm, ensuring you remain up-to-date with the latest happenings.

The legal battle between Ripple and the U.S. SEC appears to have reached a resolution, with Ripple agreeing to settle for a $50 million fine, significantly less than the original $125 million fine. Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed the settlement as the final step in a lawsuit that began back in December 2020. The SEC will refund the remaining $75 million and seek to lift the injunction on Ripple.

Trump Media, the company behind Truth Social, has partnered with Crypto.com to introduce exchange-traded products (ETPs) under the Truth Fi brand, focusing on cryptocurrencies and sectors like energy with an emphasis on a “Made in America” theme. This move aligns with Trump Media’s strategy of blending digital assets with American-focused securities.

Binance recently suspended a former employee of BNB Chain on allegations of insider trading. The company’s Internal Audit team discovered that the staff member had allegedly made trades using non-public information from their prior role. This incident raises concerns about insider trading practices within major crypto organizations.

HyperLiquid, a decentralized trading platform, faced another setback due to market manipulation, causing a drastic 230% surge in the price of $JELLY and resulting in an unrealized loss of $12 million. The platform’s treasury experienced a $5 million short position on $JELLY, which nearly led to liquidation. This incident, following a previous substantial liquidation, highlights questions about HyperLiquid’s risk management and security measures.

Floki’s DAO recently made a unanimous decision to eliminate the 0.3% buy/sell tax on TokenFi’s native token, $TOKEN, aiming to enhance accessibility and trading by reducing transaction friction. This change is expected to drive ecosystem growth by attracting users interested in creating tokens and tokenizing real-world assets.

Staying informed about such developments remains essential in navigating the dynamic landscape of the DeFi and crypto space, allowing individuals to make informed decisions and stay ahead of emerging trends and changes.