Weekly Article Recap: 4/22-4/26

A summary of this week’s notable news.

A look back at my week in DeFi

The DeFi and cryptocurrency space continues to evolve at a rapid pace, so it’s important to stay informed about the latest developments and trends. Our weekly roundup provides a concise yet comprehensive overview of the most important news and trends in the DeFi and cryptocurrency space, helping you stay informed and on top of the latest happenings.

US Department of Justice seeks 3-year prison sentence for Binance co-founder CZ

The U.S. Department of Justice (DOJ) has sentenced Binance co-founder and former CEO Changpeng “CZ” Chao to three years in prison after he admitted to violating the Bank Secrecy Act. He is seeking a verdict of 2019. The Justice Department alleges that Zhao helped Binance evade federal sanctions and anti-money laundering regulations, prompting demands for large fines.

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Binance executive arrested in Kenya after fleeing Nigeria

Binance executive Nadeem Anjarwala has been arrested by Kenyan authorities after fleeing from Nigerian custody. Plans are underway to extradite him to Nigeria, with Interpol’s help expected soon. The Nigeria Economic and Financial Crimes Commission (EFCC) has charged Binance and its executives with serious crimes, including tax evasion and money laundering, totaling over $35 million.

For more information, article.

Nigeria appoints pro-crypto leader as SEC chief

Nigeria’s President Bola Ahmed Tinubu has appointed Mr. Emotimi Agama, a former MD of the Nigerian Institute of Capital Markets, as the new Commissioner of the Securities and Exchange Commission (SEC). Agama’s appointment signals a pro-cryptocurrency stance and sparks hope among blockchain enthusiasts.

learn more here.

Terraform Labs restricts access to US users amid SEC legal battle

Terraform Labs plans to restrict access to its products for users based in the United States. The decision is in anticipation of a court order as the company’s legal dispute with the SEC continues. The move signals a strategic retreat to address regulatory challenges and could impact the company’s U.S. operations.

For more information, article.

BNB Chain reports strong growth in Q1 2024: Key details

According to a Messari report on April 24, the BNB chain experienced significant growth in the first quarter of 2024. Its market capitalization soared to $92.5 billion, a staggering 89% increase from the previous quarter. This surge has made BNB the third-largest cryptocurrency by market capitalization, behind Ethereum and Bitcoin.

Read the full story report.

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