This Week's Noteworthy Events(May 20, 2024-May 26, 2024)

ANT Withdrawals on Binance Suspended as of May 20, 11 AM

Previous news reported that the cryptocurrency exchange Binance delisted ANT on February 20, 2024.

Aragon posted a reminder on Platform X: ANT withdrawals on Binance will be supported until May 20, 3:00 UTC. After that, ANT withdrawals will no longer be supported. For assistance with exchanging ANT from a CEX, please read the FAQ at the bottom of the portal website or use the official ANT exchange portal to ensure safety.

Court Debate on Fraud Compensation Plan Between SEC and Terraform Labs & Do Kwon Scheduled for May 22

After the jury ruled Terraform Labs and its co-founder Do Kwon responsible in the fraud case with the U.S. SEC, a federal judge in the Southern District of New York ordered discussions on compensation ranging from millions to billions of dollars.

Court documents reveal that Judge Jed Rakoff instructed the SEC, Kwon, and Terraform's attorneys to appear in court on May 22 to debate the compensation plan. Previously, each party had submitted their respective requests for disgorgement of profits, pre-judgment interest, and civil penalties, but the judge allowed them to supplement their materials before the hearing.

The SEC sought approximately $4.7 billion in disgorgement of profits and pre-judgment interest from Kwon and Terraform, along with a total of $520 million in civil penalties. Terraform's legal team proposed a $1 million civil penalty and no disgorgement of profits. Both parties were to submit supplemental proposals by May 6 and May 1, respectively.

Nigerian Court Declares Binance Liable for Tax Evasion Charges, Rehearing Scheduled for May 22

Binance and its executives, accused of money laundering and tax evasion, along with the bail hearing of Binance's compliance officer, Tigran Gambaryans, took place in Nigeria on Friday. The court ruled that Binance could face tax evasion charges from the Nigerian Federal Inland Revenue Service through Gambaryans. Gambaryans' lawyer opposed this request, citing the need to review amended charges to provide defense advice for Gambaryan. The court agreed to postpone the matter for trial until May 22.

Bybit: $26 Million Comprehensive Compensation Plan Set to Launch on May 22

According to an official announcement, Bybit will implement a comprehensive compensation plan worth $26 million for all 320,000 affected users.

All airdrops and compensation funds will be deposited into user accounts at 8:00 AM UTC on May 22, 2024. Earlier reports indicated that on May 17, the listing of NOT caused Bybit's matching engine to crash. Bybit CEO Ben Zhou stated that a public statement and compensation plan would be issued for all affected users.

Final Decision on First ETH Spot ETF Expected on May 23

Bloomberg data indicates that the Ethereum spot ETF application filed by VanEck will face its final decision moment on May 23, while the Ethereum spot ETF applications from Ark and 21 Shares will face their final decision moment on May 24. Currently, a total of 6 spot Ethereum ETFs are awaiting the SEC's decision.

Optimism: Registration for Round 4 of Retro Funding to Begin on May 23, Allocating 10 Million OP

Bloomberg data indicates that the Ethereum spot ETF application filed by VanEck will face its final decision moment on May 23, while the Ethereum spot ETF applications from Ark and 21 Shares will face their final decision moment on May 24. Currently, a total of 6 spot Ethereum ETFs are awaiting the SEC's decision.

WorldCoin Foundation: Community Grant Program WAVE 1 Applications Now Open, Deadline May 24

The WorldCoin Foundation has announced that applications for Community Grant Program WAVE 1 are now open. In Wave 1, WorldCoin introduces the following categories:

• Improving Developer Experience and Tools: Solutions and infrastructure to enable easier development on Worldcoin for other developers.

• Digital Identity: Projects and research based on World ID, or projects and research making it easier for others to integrate, implement, and leverage new applications.

• Ecosystem Growth: Community initiatives and activities to drive the expansion of World ID globally.

• Governance: Projects, research, and experiments utilizing WorldID and exploring new areas of decentralized governance.

• To be determined.

Similar to Wave 0, applicants can apply for a $10,000 community grant, a $50,000 project grant, and more open projects and RFPs. Relevant applications need to be submitted before the deadline on May 24, 2024.