DeFi
Weekly article summary: 06/10-06/14
A summary of the notable new releases of the week.
Recap of the week in DeFi
As the DeFi and crypto space continues to evolve at a rapid pace, it is essential to stay informed with the latest developments and trends. Our weekly recap provides you with a concise but comprehensive overview of the most important news and trends in the DeFi and crypto space, helping you stay informed and up to date with the latest happenings.
Tether will invest over $1 billion in various projects within a year
Tether Holdings, the issuer of the USDT stablecoin, plans to invest more than $1 billion in various sectors over the next year, Bloomberg reported on June 11. CEO Paolo Ardoino highlighted the company’s focus on financial infrastructure, AI and biotechnology. Tether aims to bring AI computing to its investments, reducing dependence on big tech companies like Google, Amazon, and Microsoft.
Read the full history.
Nigeria drops tax evasion charges against Binance executives
Nigeria’s Federal High Court has freed Americans Tigran Gambaryan and Nadeem Anjarwalla from a tax evasion case against Binance. This follows the modification of fees by the Federal Inland Revenue Service (FIRS) after Binance appointed Ayodele Omotilewa as its Nigerian representative. Justice Emeka Nwite quashed the charges filed in March and May 2024 and removed the two individuals from the case. The next hearing is scheduled for July 12.
Details here.
BNB Chain launches “BNB Incubation Alliance” with Binance Labs to support Web3 projects
BNB Chain and Binance Labs have introduced the BNB Incubation Alliance (BIA) to support early-stage Web3 projects. Announced June 13, the BIA program provides resources, mentoring and funding. It includes a 10-week accelerator program with BNB Chain rewards, funding from Binance Labs, and $300,000 in free security and infrastructure services through the Launch-as-a-Service (LaaS) program.
Find more information in the article.
Terraform Labs to End Operations in $4.47 Billion SEC Settlement
Terraform Labs will close its doors after settling its civil fraud case with the SEC on June 12. CEO Chris Amani announced on X that the company would sell its assets to Pulsar Finance, Station Wallet and Enterprise Protocol. Terra’s key projects will be sold and the Terra blockchain will be managed by the community.
Learn more in the article.
Everything you need to know about ZKSync’s ZK token
The highly anticipated ZK token launch and ZKSync community airdrop are imminent. The tokens will allow holders to vote on protocol upgrades, pay network fees, and deliver new features through governance. The ZK token aims to facilitate technical innovation as new ZK chains are launched. Upcoming debuts include Lens Network, Cronos zkEVM, and GRVT, among others.
Read the full details.