Weekly Article Recap: 4/01-4/05

Recapping the Week in DeFi

As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings.

US Government Transfers $2B Silk Road Bitcoin to Coinbase

The US government completed a significant transaction transferring 30,175 Bitcoin (BTC) worth around $2 billion to a Coinbase-linked wallet on April 2. Blockchain data indicates that the US Justice Department's wallet first sent a small amount as a potential test, followed by the massive transfer. Alex Thorn from GalaxyDigital suggests these coins were likely from the USG/Silk Road and had already been sold, with this transfer possibly serving as a post-trade settlement.

Details here.

Ripple Joins Stablecoin Race, Announces Plans for 1-to-1 USD-Backed Coin

XRP issuer Ripple is diving into the stablecoin arena with plans for a US dollar-backed stablecoin. The move is seen as a strategic step to compete with industry giants like Circle and Tether. Ripple's stablecoin will be pegged 1-to-1 with the US dollar, backed by various assets including US dollar deposits and government bonds.

Read the full story.

BNB Chain Meme Innovation Program Worth $1M: All You Need to Know

The BNB Chain team announced a global event, inviting developers and creators to participate in the "Meme Innovation Battle". The competition, offering a prize pool of $1 million, aims to foster creativity and community engagement in memecoin development.

Find more information here.

BlackRock Adds Goldman Sachs and Citigroup as Authorized Participants for Bitcoin ETF

BlackRock, managing $9 trillion in assets, has expanded its Bitcoin ETF by adding five new Authorized Participants (APs). The latest update includes Goldman Sachs, Citigroup, Citadel, UBS Securities, and ABN AMRO Clearing. This expansion coincides with rising investor interest in Bitcoin and a demand for regulated cryptocurrency investments.

Read the full details. 

Starknet Suffers 4-Hour Outage: Here Are Crucial Details

Starknet, a layer-2 protocol on Ethereum, faced a setback when an unforeseen block reorganization caused transaction delays, resulting in a four-hour outage and block production halt. Starkscan, the monitoring tool, flagged a gap in block creation on April 4 between blocks 630028 and 630029. 

Learn more in the article.