Weekly Roundup: Trump’s Cryptocurrency Venture, Solana vs Ethereum Discussion, and Other Highlights

A DeFi project associated with Donald Trump, known as World Liberty Financial, is reportedly linked to the codebase of the compromised Dough Finance platform.

The crypto community is abuzz with a new debate between Solana and Ethereum enthusiasts regarding Solana’s introduction of “network extensions,” with some arguing that these are essentially Layer 2 solutions under a different guise.

Regulatory attention is drawn to FTX as the Securities and Exchange Commission (SEC) warns the platform against utilizing stablecoins and other digital assets for repaying creditors.

The Federal Reserve issues a cease-and-desist order to United Texas Bank, citing significant deficiencies in the bank’s anti-money laundering compliance, particularly concerning its crypto-friendly stance.

In a bid to provide a secure alternative amid waning trust in WBTC, 21Shares launches 21BTC on the Ethereum blockchain, adding to the existing options for wrapped Bitcoin.

Polygon embarks on migrating from MATIC to the new POL token as part of its “Polygon 2.0” roadmap, signaling a strategic shift in the project’s trajectory.

Bitcoin miners face challenges in August, marking one of the toughest months since 2023, as revenues decline due to post-halving issues and a decrease in transaction fees.

Users of WazirX find themselves grappling with significant losses following a $234 million hack, with expectations of only recovering approximately 55% of their funds as the exchange undergoes restructuring.

Near Protocol’s X account “hack” garners attention as it is revealed to be a strategic marketing ploy to generate buzz for an upcoming hackathon, showcasing the innovative ways in which projects engage with their communities.