The Block

Quick Take The SEC said Do Kwon and Terraform should pay about $4.7 billion in disgorgement and prejudgment interest and said Terraform and Kwon should pay $420 million and $100 million, respectively, in civil penalties. Lawyers say that figure should be closer to $1 million.

Quick Take Samourai Wallet co-founder Keonne Rodriguez pleaded not guilty on Monday to charges related to his mixer service, as the U.S. cracks down on privacy-related technology. Rodriguez was released on a $1 million bond and his next hearing will be on May 14.

Quick Take Michael Saylor’s MicroStrategy purchased $7.8 million worth of BTC in April, bringing its total holdings to 214,400 BTC. In all, the firm reported a 5% decrease in year-over-year revenue of $115.2 million.

Quick Take Top Republican Rep. French Hill told Bloomberg on Monday he would be supportive of a bill that includes stablecoin regulation and a marijuana banking regime. A marijuana banking bill would allow cannabis dealers to have access to the banking system and has been a priority for Democrats.

Quick Take Moonbirds, recently acquired by NFT studio Yuga Labs, announced a “new direction” that includes both requiring people to own a Moonbird token if they want to commercialize the assets and introducing “a new art direction and 3D avatars built for animation” and Yuga Labs’s Otherside metaverse project. In 2022, Moonbirds adopted the Creative Commons CC0 copyright code, which meant the art became part of the public domain and could be freely commercialized without the owner’s consent.

Quick Take A griefing attack on the Bitcoin testnet spiked network difficulty as three years worth of blocks were generated in a single week. The attacker publicly took credit for the incident, facing the ire of other Bitcoin developers.

Quick Take The onramp payment firm Stripe is integrating with Avalanche’s Core wallet in an effort to make it easier for users to add funds and purchase assets. Different Avalanche partners, including the video game “Shrapnel,” plan to also use Stripe.

EigenLayer unveiled its native token, which will be distributed by the newly formed Eigen Foundation. The project will allocate 15% of Eigen tokens over multiple seasons to stakers.

Quick Take Consensys said the SEC “already made what it knew would be a destabilizing reversal of its declaration that ETH was not a security” by early 2023, in an unredacted complaint filed on Monday. The company said the SEC’s enforcement director approved a “Formal Order of Investigation in the matter of “Ethereum 2.0” on March 28, 2023.