Weekly Article Recap: 10/14-10/18

Recapping the Week in DeFi

As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed 

about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings.

Radiant Capital Hit by $50M Exploit Across BNB Chain and Arbitrum in Second Major Attack

Radiant Capital, a decentralized lending platform, has lost over $50 million in a major cyberattack targeting Binance's BNB Chain and Ethereum's layer-2 Arbitrum network. This marks Radiant's second major exploit this year, heightening security concerns in decentralized finance (DeFi). 

SEC Challenges Court's XRP Ruling in Formal Appeal

The U.S. Securities and Exchange Commission (SEC) has filed an appeal against a recent court ruling in favor of Ripple Labs, as reported by The Block. The case, which started in 2020, accuses Ripple of raising $1.3 billion through unregistered XRP sales. The appeal, filed with the U.S. Court of Appeals for the Second Circuit, is expected to extend the legal battle into mid-2025. 

Worldcoin Rebrands as "World," Expanding Partnerships and Biometric Technology

Worldcoin has rebranded as "World," founder Sam Altman announced on October 17. The rebrand aligns with the company’s mission to enhance digital identity verification. A new version of its biometric scanning device, the "Orb," was also introduced, featuring iris scan technology for secure user verification. World aims to expand partnerships and accessibility as part of its new direction.

Core Foundation Launches Developer-Focused 'Core Commit Program' with Funding and Mentorship

The Core Foundation has launched the Core Commit Program to encourage developers to build decentralized applications (dApps) on the Core blockchain. The initiative offers monthly rewards based on participants' code contributions and progress. Beyond financial incentives, developers also gain access to mentorship, resources, and potential funding from Core Ventures, the foundation's venture capital arm.

Vitalik Buterin Aims for Sub-2 Second Transfers Between Chains in Ethereum’s Future

Ethereum co-founder Vitalik Buterin has highlighted key challenges for the network, calling for a unified ecosystem. In his latest update, Buterin focused on "The Surge," an upcoming phase aimed at improving scalability and cross-chain transfers. He pointed out that Ethereum’s current fragmented structure, with various Layer 2 (L2) solutions, causes confusion and inefficiencies.