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It has been a rough month for the crypto sector, and it’s only the third day of August.
From cross-chain bridge hacks draining hundreds of millions of dollars in customer funds to the Securities and Exchange Commission coming after crypto ponzi schemes, this corner of the market can’t catch a break.
The developments add to an already torrid year for the crypto market, which has seen huge declines as fears around tightening monetary policy and a lack of liquidity set in.
The flood of news is difficult for even insiders to track, so here’s a rundown of what you’ve missed since Monday.
Monday
The U.S. Securities and Exchange Commission headquarters in Washington on Feb. 23, 2022.
Al Drago/Bloomberg via Getty Images
The Securities and Exchange Commission on Monday filed a civil complaint charging 11 people for their roles in creating and promoting an allegedly fraudulent crypto-focused pyramid scheme that raised more than $300 million from investors.
The scheme, called...
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