The Block
Quick Take Terraform co-founder Do Kwon was found liable on civil fraud charges on Friday in a case brought against the Securities and Exchange Commission last year. The SEC charged Terraform Labs and Kwon in February 2023 over the algorithmic stablecoin Terra USD, which collapsed in a dramatic fashion a year earlier.
Quick Take The FTX estate sold up to 30 million SOL for $64 each, totaling around $1.9 billion for the lot. Galaxy Trading created a $620 million fund to buy up FTX’s discounted SOL, Bloomberg reports.
BlackRock revealed Citi, Citadel, Goldman Sachs and UBS are authorized participants (AP) in its spot bitcoin ETF in a regulatory form filed on Friday. The asset manager’s bitcoin-based fund now has a total of nine APs.
Quick Take Crypto may have a smaller sliver in the realm of virtual gaming worlds, but the CFPB said in a report on Thursday that interest is growing among gaming creators in bringing virtual items into the real world. Reports like the one posted on Thursday by the CFPB can be a “precursor to rulemakings,” said Alexander Grieve, government affairs lead at Paradigm, in a post on X.
JPMorgan predicts eventual SEC approval for spot Ethereum ETFs.The SEC is currently soliciting comments for a handful of spot ETH ETF applications.
Quick Take The question of where Terraform Labs co-founder Do Kwon will be extradited has been going on for months. The Supreme Court of Montenegro said the law requires the minister of justice to make the decision, not the court, in a press release on Friday. Meanwhile, a civil case involving the Securities and Exchange Commission is forging ahead without Kwon in New York.
Bitcoin gained on Friday alongside major equity indices after robust jobs data signaled strength in the U.S. economy.However, the March figures could lead investors to adjust their bets regarding the timing of the U.S. Federal Reserve’s first rate cut of 2024.
A SushiSwap governance proposal aims to transfer DAO treasury assets to a new entity called Sushi Labs. The move aims to accelerate protocol development, according to SushiSwap.
Uniswap Labs announced trading volume for its protocol has surpassed $2 trillion. The most popular decentralized exchange, or DEX, in terms of trading volume, has continued to be one of Ethereum’s most dominant DeFi applications since being founded in 2018.
Quick Take A project called Ore has picked up traction on Solana with its Bitcoin-like mining approach. However, the project has increased the demand on the Solana blockchain.