• Bitcoin breaks the $31k mark and shakes off recent slumps
• Supreme Court rules in favor of Coinbase, issues order to move user lawsuit into arbitration
• Binance’s legal woes intensify as Brazil lawmaker seeks to question general manager
Bitcoin Breaks $31k
Bitcoin continues to shake off recent slumps and has recently broken the $31k mark. This is a sign that its growth is continuing despite the recent turbulence in the markets.
Supreme Court Rules in Favor of Coinbase
The US Supreme Court has ruled in favor of Coinbase, issuing an order to move user lawsuits into arbitration rather than court proceedings. This ruling will help protect users from costly court battles and provide them with more efficient dispute resolution.
FTX Files Complaint
Cryptocurrency exchange FTX has filed a complaint against “super-networker” Bankman-Fried for connections courted for connections valued at over $700 million USD. The case is still ongoing and it remains to be seen how this situation will play out.
Stably Pauses Withdrawals & Minting
Stablecoin platform Stably has paused withdrawals and minting after Prime Trust halted deposits on their platform. This decision was made in order to ensure that users have enough time to access their funds before any further action is taken by either party involved.
MakerDAO Powers Spark Protocol
MakerDAO has announced that its lending protocol Spark Protocol will be onboarding Rocket Pool’s staked Ethereum (rETH) as a new collateral type, allowing users to borrow DAI at competitive rates while earning staking yield rewards. MakerDAO also raised the borrowing power by 400%, further increasing opportunities for DeFi users within the ecosystem.