DeFi Daily Digest 2022–07–01: Wanna buy low on house? Su Zhu’s $35M mansion for urgent sale, price higher than BlockFi.

Regulation:

CFTC Charges South African Pool Operator and CEO with $1.7 Billion Fraud Involving Bitcoin
The FBI has added OneCoin founder Ruja Ignatova ‘Crypto Queen’ to its Most Wanted list after allegedly defrauding investors of $4 billion.
Banks will be able to hold #Bitcoin up to 1% of reserves in proposal by Bank of International Settlements
EU Agrees on Landmark Crypto Authorization Law, MiCA
- The world’s third-biggest economy wants the Markets in Crypto Assets Regulation to protect investors and set up strict standards for stablecoin issuers.
- Large stablecoins will be subject to strict operational and prudential rules, with restrictions if they are used widely as a means of payment, and a cap of 200€millions in transactions/day.
Biden Official Says US Government Could Pass Stablecoin Rules by End of Year
States, Not Congress, Will Lead Crypto Regulation, Says Legal Expert
Singapore Central Bank Censures Three Arrows Capital for Alleged Misleading and False Disclosures
- The crypto hedge fund also exceeded the threshold of assets it could manage in Singapore, according to the central bank.
- 3AC was allowed to manage funds for 30 investors up to S$250 million ($180 million) when it registered as a fund management company in Singapore in 2013. The fund, however, exceeded its allowed assets under management for a prolonged period; between July and September 2020 and November 2020 and August 2021, the central bank said.

According to Fatman: A verified source has confirmed that Su Zhu is urgently trying to sell his $35m house in Singapore, currently held in his son’s trust. He is requesting the funds to be transferred to a bank account in Dubai and has no intention of paying creditors with the proceeds from the sale.
FTX Steps Away From Celsius Acquisition, Citing a “$2 Billion Hole” in Its Balance Sheet.
Coinbase Adds Solana Staking Rewards — With Higher Return Than Ethereum.
- Coinbase users can now earn passive yield as high as 3.85% by holding their SOL in the Solana network through their Coinbase accounts.