DeFi and Crypto Weekly Recap: March 5, 2023: Floki, TokenFi Partner with World Table Tennis Championship

Stay up-to-date with the latest developments in decentralized finance (DeFi) and cryptocurrency with our weekly recap. In this edition, we cover the partnership between Floki and TokenFi as official crypto partners for the World Table Tennis Championship, the ongoing investigation into the Ethereum Foundation, Robinhood's crypto wallet launch for Android users, CZ's Giggle Academy aiming to revolutionize education in developing nations, and a Nigerian court order compelling Binance to share user data with the Economic and Financial Crimes Commission (EFCC).

DeFi and Crypto Weekly Recap: March 5, 2023

Floki and TokenFi Partner with World Table Tennis Championship

Incheon, South Korea – Floki and TokenFi have been appointed the Official Cryptocurrency Partners for the upcoming World Table Tennis Championship. This prestigious event will take place from March 27th to 31st at the Mohegan INSPIRE Entertainment Resort. This partnership offers Floki a unique opportunity to showcase its brand on a global stage, reaching a vast audience.

Ethereum Foundation Under Investigation

The Ethereum Foundation is reportedly facing scrutiny following news of an undisclosed investigation by a state authority. The Foundation confirmed receiving a confidential inquiry, leading to the removal of certain information from its website, including a previous statement denying contact with agencies requiring non-disclosure. The removal of the warrant canary, which typically signals the absence of secret government requests, has raised concerns within the community regarding potential government intervention.

Robinhood Expands Crypto Wallet Access to Android Users

Global: Robinhood has launched its crypto wallet for Android users, broadening its reach in the cryptocurrency market. The wallet allows users to conveniently trade cryptocurrencies, fund their accounts directly from their Robinhood balances or other sources, and access popular tokens and crypto-related news. This expansion is expected to boost crypto adoption.

CZ's Giggle Academy: Transforming Education in Developing Nations

Amidst ongoing legal challenges, former Binance CEO Changpeng Zhao (CZ) has announced the launch of Giggle Academy. This non-profit education venture aims to provide accessible and engaging learning opportunities for students in grades 1 through 12 in developing nations. The academy's curriculum covers subjects ranging from basic literacy to advanced topics such as programming and entrepreneurship, empowering students with essential skills.

Nigerian Court Orders Binance to Disclose User Information

Nigeria: In a recent ruling, a Nigerian court has ordered Binance, a leading cryptocurrency exchange, to provide extensive user information to the Economic and Financial Crimes Commission (EFCC). The EFCC, responsible for combating financial crimes in Nigeria, is conducting an investigation into Binance's Nigerian user community. The agency had previously requested data on the top 100 users in Nigeria, including their transaction records over the past six months. This ruling highlights the increasing regulatory scrutiny of cryptocurrency exchanges.

Other Key Developments

• The Commodity Futures Trading Commission (CFTC) has charged FTX founder Sam Bankman-Fried with fraud, alleging he misappropriated customer funds.
• Binance acquired a majority stake in Japanese crypto exchange Sakura Exchange Bitcoin.
• Coinbase announced a partnership with Google Cloud to enhance its blockchain data analytics capabilities.
• The International Monetary Fund (IMF) issued a report urging countries to develop effective crypto regulation.
• Bitcoin's market dominance has declined to its lowest level since 2016, indicating increasing diversification in the cryptocurrency market.

These developments underscore the dynamic and evolving landscape of the DeFi and crypto space, emphasizing the need for investors and enthusiasts to stay informed about the latest trends and regulations.