Taking a look at the latest developments rocking global crypto markets, today we have some unfair crypto regulation in France, Binance rejecting allegations and a chilling Defi breach that occurred.
Binance drama escalates in latest development
Binance CEO Richard Teng fiercely denies claims his exchange handpicked a Trump family stablecoin for a $2 billion Abu Dhabi deal, insisting the choice was all MGX’s.
In a CNBC exclusive, Teng declared, “We didn’t partake,” pushing back against corruption whispers tied to Trump’s pardon of ex-CEO CZ Zhao.
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The controversy swirls around USD1, issued by Trump-backed World Liberty Financial, now fueling a massive MGX investment into Binance.
France Drops Tax Bomb on Crypto “Dead Weight”
Across the Channel, French MPs delivered an unfortunate and seismic latest development green-lighting a 163-150 vote to tax “unproductive wealth”, including crypto.
Centrist Jean-Paul Matteï’s amendment targets gold, yachts, art, and digital assets that “don’t fuel economic dynamism.”
The bill now faces the Senate gauntlet for the 2026 budget. Crypto holders brace for impact.
DeFi Nightmare: $116M Balancer Breach Was Months in the Making
A chilling latest development in DeFi security unfolded Monday when Balancer lost $116 million to a ghost-like attacker.
Coinbase director Conor Grogan’s onchain autopsy reveals the hacker drip-fed 0.1 ETH batches from Tornado Cash for months, stockpiling over 100 ETH undetected.
“No opsec leaks, funds likely from old exploits,” Grogan tweeted.
Balancer’s counter-offer: return everything minus a 20% white-hat bounty by Wednesday. ETH trades at $3,342 as the community reels.
And that wraps up today’s crypto update. Stay tuned to Coin Medium for more updates.
