Weekly Article Recap: 7/01-7/05

A summary of this week’s biggest news.

DeFi Week in Review

As the DeFi and cryptocurrency space continues to evolve rapidly, it’s important to stay informed about the latest developments and trends. Our weekly digest provides you with a concise and comprehensive overview of the most important news and trends in the DeFi and cryptocurrency space, helping you stay informed and up-to-date on the latest happenings.

Binance Rejoices as US Court Rules BNB Token Sale Is Not a Security

A U.S. federal court has ruled that Binance Coin (BNB) does not qualify as a security. The ruling is a major victory for major cryptocurrency exchange Binance and challenges the SEC’s approach to regulating digital tokens. The court found the SEC’s arguments unpersuasive, emphasizing that cryptocurrencies are not inherently securities and that the details of each transaction must be considered.

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German Government’s Endless Bitcoin Selloff – Here’s What’s Happened So Far…

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The German government began selling 50,000 BTC seized from the illegal piracy site Movie2k on June 19. Recent reports suggest that over $300 million in Bitcoin has been moved to central exchanges and unconfirmed addresses. The sales show no signs of stopping after Justin Sun offered to buy the full amount off-market, despite still holding 40,259 BTC worth $2.3 billion.

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FTX Founder SBF’s Family Implicated in $100 Million Political Donation Scandal: WSJ

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The family of Sam “SBF” Bankman Freed is embroiled in a massive financial scandal involving over $100 million for allegedly misusing FTX assets for political donations. The Wall Street Journal published emails showing the family played a key role in managing these donations aimed at influencing the 2022 election. With multiple lawsuits already underway, the legal ramifications are becoming clear.

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AI platform Sentient raises $85M in just two months from top investors including MH Ventures and Hack VC

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Sentient, a leading decentralized AI platform, has raised $85 million in a seed investment round. Led by Peter Thiel’s Founders Fund, Pantera Capital, and Framework Ventures, the funding positions Sentient to compete with large centralized AI companies like OpenAI. The investment round, which began in March and closed in May, attracted significant backing from top crypto VCs.

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Binance executive’s health worsens in Nigerian prison: report

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According to recent reports, Binance executive Tigran Ghanbarian remains in poor health more than a month after a Nigerian court ordered his transfer to a medical facility. The Nigerian government denies any mistreatment, despite U.S. lawmakers noting harsh prison conditions in June. Ghanbarian’s family and legal team continue to urge his release, citing deteriorating health due to inadequate medical care, and demanding he comply with a court order to receive proper medical care.

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