Chibi Finance, an Arbitrum-based DeFi project, allegedly carried out a rug pull, taking around $1 million in user deposits. The team vanished, using Tornado Cash to hide transactions, emphasizing the need for caution and research in the DeFi space.

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Analysts at investment bank JPMorgan have said that the US Securities and Exchange Commission (SEC) will approve several spot bitcoin ETFs in the next few months. This was reported by The Block with reference to the report. This development is possible because the SEC did not appeal the court decision regarding the spot bitcoin ETF from Grayscale Investments. The court ordered the regulator to reconsider the firm's application to convert the GBTC bitcoin trust fund into an ETF.