Ethereum Classic has gained a new bridge into the $13 billion decentralized finance (DeFi) market through the launch of Wrapped Ethereum Classic (WETC), an ERC-20 tokens pegged to the value of ETC.

Leading cryptocurrency exchange Binance has sued Forbes Media LLC for defamation over a story published last month that allegedly revealed regulatory evasion tactics the exchange was using.

Mexican billionaire Ricardo Salinas Pliego said that 10% of his liquid Assets are in Bitcoin. Pilego is the founder and chairman of the Mexican conglomerate Grupo Salinas, and has an estimated net worth of $11.7 billion, making him the second-richest man in Mexico.

Top stories in the Crypto Roundup today:

• Ethereum Classic Enters DeFi via Wrapped ETC
• Binance Sues Forbes for Defamation Over Alleged Document Leak
• Mexican Billionaire Reveals That 10% of His Liquid Assets Are in Bitcoin
• OKB, HT, YFI Are Moving in the Crypto Market

Ethereum Classic Enters DeFi via Wrapped ETC

Ethereum Classic has gained a new bridge into the $13 billion decentralized finance (DeFi) market through the launch of Wrapped Ethereum Classic (WETC), an ERC-20 token pegged to the value of ETC.

Ethereum Classic Labs, the ETC blockchain’s biggest supporter, announced the launch of the new token detailing Ethereum Classic users who were previously unable to access the Ethereum DeFi ecosystem will now be able to do so. James Wo, founder and chairman of ETC Labs, was quoted as saying:

“We wanted to make sure ETC could go to a different ecosystem and use different applications on top of that ecosystem. I expect at least 10% of ETC holders will want to participate and use WETC.”

While other wrapped tokens, like WBTC, are guaranteed and backed by BitGo, a centralized entity, Wo noted that for ETC a smart contract was created so “people can easily exchange ETC for WTC using a smart contract which is totally decentralized.” This is similar to Thesis’ tBTC and Ren’s renBTC.

The move follows the release of the DAI-ETC bridge, which allows ETC users to gain access to MakerAO’s popular DAI stablecoin.

Binance Sues Forbes for Defamation Over Alleged Document Leak

Leading cryptocurrency exchange Binance has sued Forbes Media LLC for defamation over a story published last month that allegedly revealed regulatory evasion tactics the exchange was using.

The lawsuit, filed in the U.S. District Court in New Jersey, claims Forbes and two of its writers, Michael del Castillo and Jason Brett, harmed Binance by publishing the article, which “contains numerous false, misleading and defamatory statements.”

Binance also denied various allegations made in the Forbes story and refuted the veracity of the “Tai Chi” documents. It demands Forbes take down the article and pay punitive damages to be determined at trial.

Speaking to CoinDesk a Binance spokesperson noted that the firm supports freedom of information and of the press, as well as accountability, adding the suit “doesn’t represent any threats to the report of Binance,” and that the firm needs the media to “keep us accountable and reporting information to the public.”

Mexican Billionaire Reveals That 10% of His Liquid Assets Are in Bitcoin

Mexican billionaire Ricardo Salinas Pliego said that 10% of his liquid Assets are in Bitcoin. Pilego is the founder and chairman of the Mexican conglomerate Grupo Salinas, and has an estimated net worth of $11.7 billion, making him the second-richest man in Mexico.

The Mexican billionaire reportedly placed a bet on Bitcoin by forming “an alliance with Bitreserve, the San Francisco-based Bitcoin exchange founded late last year by Halsey Minor, former founder and CEO of CNET.”

On social media, the billionaire recommended the book “The Bitcoin Standard” by Saifedean Ammous to his over 800,000 followers, and said that this was the best and most important book for understanding Bitcoin. More interestingly, he revealed that 10% of his liquid assets are invested in Bitcoin.

OKB, HT, YFI Are Moving in the Crypto Market

There are several tokens leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with rather liquid trading pairs, so we’ll be focusing on these over low-cap cryptos who may have higher percentage changes.

OKEx (OKB) – OKEx’s OKB token is up 18.23% in the last 24-hour period as rumors suggest one of the exchange’s private key holders has been released from custody and withdrawals will be reopened at the leading cryptocurrency exchange.

Huobi Token (HT) – Huobi’s native token, HT, is up 9.27^% in the last 24 hours. The token, like OKB, gives users access to trading fee discounts and other benefits.

Yearn.Finance (YFI) – Decentralized finance yield aggregator Yearn.Finance has seen its YFI token rise by 10.61% in the last 24 hours. YFI is now trading at $25,300, up from $15,000 last week.

State of the Crypto by Top Tier Exchange Volume

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