Sasha Markevich

Good news: euro payments, deposits and withdrawals have been restored. Bad news: the Head of Binance U.K. has now left the building, Visa and Mastercard have terminated their Binance Card partnerships.

The key witness this week was former FTX engineering chief Nishad Singh. Subsequent witnesses called by the prosecution were less relevant, earning them a ticking-off from the Judge.

The FTX Debtors proposed a settlement of customer property disputes this week, but it was so badly (or cleverly depending on how cynical you are) worded that most media outlets reported the wrong facts.

Binance.US has updated its Terms of Use to remove support for USD deposits and withdrawals. Meanwhile the global exchange has stopped accepting new users in the U.K.

As the Binance vs SEC hearing lumbers on, the parties struggle to agree on discovery requests and dispositions, and Circle was admitted as a 'friend of the court'.

Another week of the Sam Bankman-Fried trial has passed. All eyes were on star witness Caroline Ellison, who claims that there was indeed a fraud and blames Bankman-Fried for setting it all up.

Kraken and other major exchanges are shifting focus to the European market as the new MiCA framework promises greatly enhanced regulatory clarity.

Here is what we have learned from the first few days of former FTX CEO Sam Bankman-Fried's high-profile trial.