In this weekly recap, we cover:
- Ryan Salame’s Legal Battle Deepens: Former FTX executive Ryan Salame faces new challenges as his partner, Michelle Bond, is indicted for unlawful campaign contributions.
- BlackRock’s Ethereum ETF Surpasses $1 Billion: BlackRock’s iShares Ethereum Trust (ETHA) becomes the first U.S. spot ether ETF to exceed $1 billion in net inflows.
- Prometheum Sparks Controversy: Prometheum’s decision to classify Uniswap and Arbitrum tokens as securities has ignited debate.
- Eigen Labs Employees Bypass Airdrop Bans: Scrutiny mounts as reports reveal that U.S.-based Eigen Labs employees bypassed restrictions to claim tokens from projects like Renzo and Ether.Fi.
- Binance and Former CEO CZ Face Money Laundering Lawsuit: Binance and Changpeng Zhao are at the center of a new class action lawsuit, accused of enabling money laundering through negligent compliance practices.
- U.S. Treasury Withdraws Unhosted Wallet Rule: The Treasury Department withdraws a controversial proposed rule that would have imposed strict reporting requirements on unhosted crypto wallets, a move welcomed by the crypto community.
- Democratic Party Platform Omits Crypto: The Democratic Party’s latest platform remains silent on cryptocurrency, disappointing industry advocates who hoped for a shift in stance under Kamala Harris.
- Pump.Fun’s Record Profits, User Struggles: Despite generating nearly $100 million in revenue, most Pump.Fun users face significant losses.
- SEC Rejects Solana ETFs: The SEC rejects filings for two proposed Solana ETFs, maintaining its stance that Solana should be classified as a security, halting the approval process.
- Mango Markets Settles with SEC: Mango Markets is moving toward a settlement with the SEC over securities violations, agreeing to a fine and the destruction of its MNGO token holdings.
- Optimism Plans Hard Fork After Audits: Optimism announces the Granite upgrade to address security vulnerabilities, including a hard fork scheduled for September 10.
- Fun Bits: Trump’s Crypto Wallet Out-Earns “The Apprentice” Royalties: Trump’s crypto income from NFT royalties and memecoin taxes is now outpacing his earnings from “The Apprentice,” proving that even in the world of crypto, Trump knows how to make a deal.