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Regulatory Battle: DeFi Week of May 14

The Defiant

Weekly Recap

Happy weekend Defiers! Here’s what we covered this week!

The battle over how to regulate crypto in the United States wages on, with the Securities and Commission refusing to respond to a legal action from Coinbase asking the agency to deliver regulatory guidelines for the crypto industry on Monday.

Coinbase wants the SEC to develop clear web3 regulations informed by public input per its formal rulemaking process, and to end its current campaign of regulation-by-enforcement. Industry stakeholders criticize the SEC for claiming every cryptocurrency barre Bitcoin is a security per the 1933 Securities Act.

Trending Now

BlackRock Would Still Pursue Spot Ether ETF If Ethereum Cops Securities Designation

BlackRock’s CEO said the SEC classifying Ether as a security would not preclude spot Ethereum ETFs from entering the market.

Pantera-Backed Rollup Omni Network Announces Airdrop

3% of OMNI’s total supply will be airdropped to EigenLayer restakers, ETH stakers, various NFT holders, and Omni community members.

Runestones Wants to Become the Biggest Memecoin Community, Says Creator

The airdropped Runestones collection has soared to become the second most valuable NFT collection after CryptoPunks.

Pump.Fun Takes Over Solana Memecoin Scene

The no-code platform allows anyone to create a memecoin in minutes.

Hot New Restaking Project Karak Faces Backlash Over Team’s Past

Karak has been outed as the second reincarnation of Risk Harbor, a protocol accused of running off with millions earmarked as insurance for Terra’s failed UST stablecoin.

AI-Powered Web3Firewall Raises $2.5 Million Round Led By Nomura's Laser Digital

Web3Firewall aims to use machine learning and AI to quickly detect malicious transactions.