Sam Bankman-Fried Faces Fresh Accusations From US DOJ and FTX

Recapping the Week in DeFi

As the DeFi and crypto space continues to evolve at a rapid pace, it’s essential to stay informed about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings. 

Polygon 2.0: Polygon Unveils New  Decentralized Governance Model

The Polygon team is introducing a new governance framework as part of the Polygon 2.0 roadmap, aiming for decentralized ownership of its ecosystem. The model takes inspiration from successful blockchain models, particularly Ethereum’s proven governance ethos. Polygon intends to build upon Ethereum’s achievements and create a thriving community through decentralized governance.

Learn about the new governance model here.

Binance Labs Invests $10 Million in Radiant, Paving the Way for the Future of DeFi Lending

Binance Labs continues to support DeFi advancement with its latest $10 million investment in Radiant Capital. The funding showcases their commitment to innovative projects that will shape the future of DeFi in a user-friendly and chain-agnostic manner. Radiant will utilize the funds for further tech and product development, including deploying on the Ethereum mainnet.

Get full details in this article. 

Sam Bankman-Fried Faces Fresh Accusations From US DOJ and FTX

The US Department of Justice (DOJ) has accused Sam Bankman-Fried, the former CEO of FTX crypto exchange, of leaking his ex-colleague Caroline Ellison’s private diary to the New York Times. The alleged motive was to discredit her since she had already admitted guilt to federal charges and was expected to testify against Bankman-Fried. To ensure a fair trial, the DOJ requests Judge Lewis A. Kaplan to limit statements by those involved in the case outside the court.

Learn more here. 

Ten Finance to Launch BNB-Backed Stablecoin USDEFI: What’s it All About?

Ten Finance is gearing up for the launch of USDEFI, an innovative stablecoin pegged to the USD but backed by BNB. Unlike traditional stablecoins linked to fiat currencies, USDEFI utilizes BNB as collateral, offering distinctive advantages. BNB, renowned as one of the blockchain’s most established and active utility tokens, boasts a stable market and robust liquidity pool. The move is expected to open new possibilities in the decentralized finance space.

Find more information here. 

Celo Proposes Transition to Ethereum L2: CELO Token Pumps

Celo, a leading ‘carbon-negative, mobile-first, EVM-compatible’ blockchain, has recently put forward a significant proposal to transition from its current layer-one blockchain status to a layer-two network on Ethereum. If the proposal succeeds (with the voting scheduled for July 22),  Celo will transform into an Optimism-style Ethereum layer-two network.

Get all the details in this article.