Optimism enhancing engagement with 19.4 million tokens

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 🕵️‍♂️ Was SBF’s father a “de facto” officer of FTX?

Debtors of FTX have initiated a lawsuit against the parents of SBF, accusing them of misappropriating millions from the exchange.

The lawsuit contends that Joseph Bankman and Barbara Fried, both Stanford Law School professors, utilized their positions within the FTX organization for personal gain, contrary to claims made by SBF. Joseph Bankman, described as a "de facto officer" of FTX Group, is alleged to have had significant control over the exchange's decisions, while Barbara Fried played a major role in the exchange's political donations. The couple is alleged to have extracted hefty financial rewards from their involvement, including cash gifts and property purchases.

🔄 DeFi-focused app chain moving to Polygon

Canto, a blockchain tailored for decentralized finance applications, has announced its intent to undergo a layer transition.

Specifically, the alt layer-1 network will move to a zero-knowledge layer-2 on Ethereum, utilizing the Polygon Chain Development Kit (Polygon CDK). This kit aids developers in launching their own zk-powered layer-2 chains. Upon joining the Polygon CDK, developers have immediate access to shared liquidity and an interoperability layer. The change for Canto aims to tap into the Polygon ecosystem's liquidity and gain security properties from Ethereum.

☔ Optimism launches $26 million worth airdrop

Layer 2 network Optimism has initiated its third airdrop, distributing 19.4 million OP tokens to 31,870 addresses linked to the Optimism Collective.

This airdrop's objective mirrors the previous two: to enhance engagement on the Layer 2 network and reward user involvement. Eligibility for the airdrop depended on the number and duration of OP tokens delegated by users, with specific criteria set. An additional reward multiplier was granted to users who participated in on-chain proposals. Post this airdrop, around 570 million OP tokens are set aside for prospective distributions.

🙅‍♂️ Judge gets assertive about access to Binance software

The SEC was denied immediate access to Binance US’s software by Judge Faruqui, who recommended the SEC provide more detailed discovery requests and consult a broader range of witnesses.

The decision followed a hearing on Sept. 18 regarding the SEC's motion for Binance to provide more detailed information and make its executives accessible for depositions. The SEC previously accused Binance US of being uncooperative, while the company argued that the SEC's repeated discovery requests were excessive. This comes after the SEC sued the US division of Binance, its global affiliate Binance Holdings Ltd, and CEO Changpeng "CZ" Zhao in June, alleging they were involved in the sale of unregistered securities. The SEC's concerns center on the custody of Binance US customer assets and potential ties to the global exchange branch.

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