In recent crypto developments, the Ethereum Foundation has moved to address community criticism by allocating 45,000 Ether, valued at approximately $120 million, to decentralized finance platforms Aave, Spark, and Compound. This decision highlights the foundation’s intent to lessen reliance on ETH sales for funding and is viewed positively by many community members, including Aave’s CEO, Stani Kulechov, who expressed optimism about the impact on DeFi. Meanwhile, U.S. Federal Reserve Governor Christopher Waller advocated for a regulatory framework that would permit banks to issue stablecoins, suggesting it could extend the U.S. dollar’s reach and improve payment systems. Despite stablecoins’ potential benefits, Waller noted regulatory challenges and past market disruptions linked to stablecoin failures. Additionally, HashFlare’s co-founders, Sergei Potapenko and Ivan Turogin, have pleaded guilty to wire fraud. They admitted to defrauding users and investors out of significant funds while operating the crypto mining service. As part of their plea agreement, they have agreed to asset forfeitures to mitigate financial harm to victims.
