Crypto weekly is authored by maaria and david blumenfeld

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.32T): -1% / -2%
- BTC ($96,318): -1% / +3%
- ETH ($2,810): +5% / -16%
- SOL ($167): -12% / -12%
- UNI ($9.04): -6% / -32%
- OP ($1.19): +7% / -32%
- Tether Mkt Cap ($142B): 0% / +3%
- USDC Mkt Cap ($57B): +1% / +31%
- BTC / ETH Dominance: 58% / 10%

THIS WEEK IN CRYPTO
- President Javier Milei's endorsement of $LIBRA memecoin resulted in dramatic volatility, with the token gaining and losing billions. Fraud investigations ensued, and co-creator Hayden Davis faced allegations of claiming he could influence Milei through payments to his sister, which he later denied. Link. Link.

- Bybit suffered what's described as "the largest crypto theft in history" at $1.4 billion from a North Korean-attributed attack. Despite this, Bybit processed over $4 billion in withdrawal requests following the hack. Link. Link.

- SEC dropped its lawsuit against Coinbase. Coinbase CEO revealed the legal battle cost the firm "more than $50 million" in external counsel fees. Link. Link.

- Bitcoin traded alongside traditional risk assets, falling amid weak economic signals and inflation concerns. Link.

- Ethereum transaction costs plummeted 70 percent to their lowest levels since 2020, dropping to $0.77 amid reduced network activity. Link.

- The SEC is downsizing crypto enforcement while simultaneously ending investigations into OpenSea and voluntarily dismissing appeals limiting crypto dealer regulations—signaling a more industry-friendly stance. Link. Link. Link.

- The collapsed exchange FTX began distributing $1.2 billion to creditors, with customers receiving fiat compensation based on November 2022 valuations. Link.

- Nigeria is developing cryptocurrency taxation rules, while the ECB announced a two-phase blockchain initiative potentially leading to a digital euro CBDC. Link. Link.

- Figure Markets received SEC approval for YLDS, the first regulated yield-bearing stablecoin registered as a security. Link.

- Wintermute announced U.S. expansion plans, citing regulatory optimism under the current administration. Link.

- The imprisoned FTX founder Sam Bankman-Fried requested a presidential pardon, claiming his prosecution was politically motivated. Link.