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Weekly Recap: Bitcoin Plunges Amid Iran Conflict

Happy weekend, Defiers!

Global markets plummeted this week after the U.S. and Israel attacked Iran, with a mid-week rebound proving fleeting as Bitcoin dropped under $68,000 on Friday, dragging most altcoins lower.

NYSE owner Intercontinental Exchange announced a strategic investment in cryptocurrency exchange OKX at a $25 billion valuation.

Curve Finance accused PancakeSwap of copying its code without permission for the DEX’s StableSwap feature, which went live last week.

Meanwhile, CFTC Chairman Michael Selig said that the agency is "modernizing" its rules "so that there’s a place" for decentralized finance in the United States.

Finally, The Aave Chan Initiative (ACI) announced it will wind down its engagement with the Aave DAO amid the ongoing governance dispute.

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Top Stories This Week

Bitcoin Drops Under $68,000 as Oil Tops $90

Crypto markets dropped as investors remained cautious heading into the weekend amid the ongoing conflict in the Middle East. Global markets face pressure after oil spiked another 14%, with prices now exceeding $90 per barrel for the first time since 2023.

NYSE Owner Invests in OKX at $25 Billion Valuation

Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, has announced a strategic investment in global cryptocurrency exchange OKX, valuing the platform at $25 billion.

CFTC Says It's 'Modernizing' Rules to Make a Place for DeFi in the US

Speaking during a panel discussion with SEC Chairman Paul Atkins at the Milken Institute, CFTC Chairman Michael Selig said that the agency is working on regulations around on-chain markets to “accommodate on-chain software systems.”

Meanwhile, federal banking agencies issued clarifications on the capital treatment of tokenization securities.

Curve Accuses PancakeSwap of Using Stableswap Code Without Authorization

Curve Finance accused the BNB Chain-based DEX of copying its StableSwap code without permission, constituting a violation of the code's license.

Marc Zeller's ACI Exits Aave Amid Governance Rift

The Aave Chan Initiative (ACI), one of the largest delegated service providers in the Aave governance ecosystem, plans to wind down its engagement with the Aave DAO.

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