DeFi
Weekly summary of articles: 05/27-05/31
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.
Elon Musk denied reports he advised Donald Trump on crypto
Elon Musk and Donald Trump discussed the possibility of Musk advising Trump on issues including cryptocurrency, border security and the economy if Trump wins the next presidential election. Bloomberg reports that discussions are underway, with Trump’s campaign considering inviting Musk to speak at the Republican convention. The Wall Street Journal notes that these talks are in their early stages. However, Musk denied advising Trump on cryptocurrency, clarifying that he never discussed it with the former president.
Read the full history.
Binance executive detained in Nigeria apparently suffering from malaria
Tigran Gambaryan, a Binance executive, was imprisoned in Nigeria for nine weeks and is suffering from malaria and a throat infection, according to DL News. Gambaryan, who resides in Atlanta, Georgia, arrived in Nigeria on February 26 to discuss Binance’s crypto operations.
Last Thursday, Gambaryan collapsed in court during his money laundering trial in Abuja and was hospitalized. His wife, Yuki, called his detention “unjust.”
Details in the article.
Pudgy Penguins to launch AAA Web3 mobile game in 2025
Pudgy Penguins, known for their colorful Ethereum NFTs, is entering the gaming industry. Together with Mythical Games, they plan to launch a AAA mobile game in 2025. The game will feature Pudgy’s unique story and humor Penguins while providing accessible, high-quality gameplay. Expected to reach over five million players, it will use the Mythos Chain (MYTH), which has over one million active wallets.
Learn more here.
Babylon Raises $70M in Bitcoin Ecosystem’s Largest Funding Round
Babylon, a project focused on a decentralized world secured by Bitcoin, completed a record $70 million funding round, according to Bloomberg on May 30. Led by Paradigm, the round included investments from Bullish Capital, Polychain Capital and others. This funding will help Babylon advance its mission of a decentralized economy secured by Bitcoin.
Details in the article.
Japanese crypto exchange DMM Bitcoin loses over $300 million in hack
DMM Bitcoin, a Japanese cryptocurrency exchange, reported a major security breach on May 31, 2024, resulting in the theft of over $300 million worth of Bitcoin. According to Arkham Intel, the stolen amount was 4,502.9 BTC, or approximately 48.2 billion yen. DMM Bitcoin has since taken steps to prevent further losses and secure remaining assets.
Find more information in the article.