Weekly Update: 30 Mar 2023
1) Binance and its CEO sued by CFTC over US Regulatory violations [Bloomberg]
– CFTC alleges world’s biggest crypto exchange shirked rules. Case was filed in federal court in Chicago on Monday.
2) FDIC gives deadline next week for crypto depositors stranded by Signature failure [CoinDesk]
– FDIC is trying to hurry the stranded crypto customers out the door of the temporary entity that holds the assets of the former Signature Bank, asking them to cash out by next week.
3) Bankrupt crypto lender BlockFi to refund more than $100K to California clients [CoinDesk]
– The company will distribute the loan repayment refunds through its servicer to former clients, pending bankruptcy court approval.
4) Gucci and Yuga Labs are bringing high fashion to the otherside [CoinDesk]
– The firms will work together on the metaverse platform.
5) Lending platform MakerDAO approves ‘constitution,’ moves forward with ‘Endgame’ plan [CoinDesk]
– The proposal sets a new foundation for the largest decentralized lending protocol’s major restructuring, called “Endgame”.
6) MicroStrategy pays off Silvergate loan, buys more Bitcoin [CoinDesk]
– The company borrowed $205 million from Silvergate Bank last March.
7) Polygon zkEVM mainnet beta goes live; Ethereum’s Buterin sends first transaction [CoinDesk]
– The release of Polygon’s zkEVM comes just days after competitor Matter Labs released its own zkEVM, zkSync Era.
8) G-7 will push for tighter global crypto regulations: Kyodo [CoinDesk]
– Discussions on a global framework will speed up ahead of a May meeting of finance ministers and central bankers from the Group of 7 countries.
9) Orderly Network raises fresh funding at a flat token valuation of $200 million [The Block]
– Orderly Network raises funds in a SAFT round. The Near-based trading infrastructure protocol plans to add perpetual trading and support for other blockchains.
10) Solana-based derivatives protocol Cega raises $5 million to expand on Ethereum [The Block]
– Cega raised $5 million in a seed extension round led by Dragonfly Capital. The Solana-based derivatives protocol focused on exotic options is set to launch on Ethereum.
