ChainCatcher news, Zhu Su posted that the LUNA crash has caused significant losses for many investors, so the calls for forgiveness for Do Kwon are not high. As one of the largest protocols in crypto history, Terra's mechanisms have always been open and transparent, UST was widely adopted by major exchanges, and top VCs were deeply involved. However, the industry now seems to blame the failure on him personally, rather than on systemic issues.Although Do Kwon was overly arrogant during his peak and failed to adequately listen to external criticism, if the crypto industry chooses to make him a "scapegoat," it could affect the entry of high-potential entrepreneurs—after all, similar failure cases exist in traditional industries as well. Nowadays, when entrepreneurs weigh their options between AI, early-stage technology, and the crypto industry, they also need to consider the risks of "personal responsibility." This phenomenon brings to mind the question of whether Ethereum co-founder Vitalik should bear criminal responsibility after the DAO hacking incident.

ChainCatcher message, U.S. Senator Cynthia Lummis stated on X: "Today, the U.S. Senate Banking Committee found the first concrete evidence of Operation Chokepoint 2.0. Rest assured, the Digital Assets Subcommittee will find the relevant parties and hold them accountable."

ChainCatcher news, venture capital firm a16z stated that the U.S. Department of Justice (DOJ) should stop holding DeFi protocols accountable for unlawful activities that they did not instigate and cannot control.It stated that holding people accountable for systems and activities over which they have no power or control can lead to negative consequences. Unfortunately, the DOJ has overlooked this distinction and is attempting to do so by making software developers responsible for the actions of third parties using neutral tools that they originally created but no longer control.The agency stated that the new presidential administration in the U.S. should focus its primary policy on cryptocurrency on codifying the correct and legal understanding of "control" in law. a16z believes this is particularly important for determining whether cryptocurrency companies qualify as "money transmission businesses," as such businesses are required to comply with specific rules and obligations.

ChainCatcher news, according to The Block, blockchain data startup Accountable has recently completed a $2.3 million seed round financing. This round was co-led by MitonC and Zee Prime Capital, with angel investors including Darius Rugys from Maven 11 and DCBuilder from the Worldcoin Foundation participating.The company is developing a privacy-centric data platform that verifies borrowers' assets, liabilities, and transaction risk exposure in real-time. Users can connect accounts such as custodial and exchange accounts to a dashboard, generating credit risk reports for lenders to review. Accountable plans to seek further financing in 2025.

ChainCatcher message, Binance issued a statement regarding Tigran Gambaryan, who is one of the Binance executives detained in Nigeria. Binance stated in the announcement that Tigran Gambaryan is a U.S. citizen and has served as a federal agent for the past ten years, investigating cases involving national security, terrorism financing, and more. As a member of the elite network investigation team of the U.S. Department of the Treasury's Internal Revenue Service Criminal Investigation (IRS-CI), Tigran led several investigations worth billions of dollars, including the Silk Road corruption investigation, the BTC-e Bitcoin exchange, and the Mt. Gox hack.It is reported that Tigran was hired in 2021 to help Binance address past compliance issues. Tigran is a strict law enforcement professional and is not part of Binance's management. Binance is currently in discussions with Nigerian government officials and urges not to hold Tigran Gambaryan accountable, as he does not have decision-making authority within the company.

ChainCatcher News, Democratic Senators Jack Reed and Mark Warner, along with Republican Senators Mike Rounds and Mitt Romney, have jointly introduced a new Senate bill that will impose strict anti-money laundering (AML) requirements on DeFi protocols. The bill also plans to require DeFi protocols to implement bank-like controls over their user base, mandating that entities controlling DeFi must review and collect information about their customers, maintain an anti-money laundering program, report suspicious activities to the government, and prevent sanctioned individuals from using their protocols.The bill will also hold venture capital firms and other large investors liable in certain cases for violations of sanctions occurring on DeFi platforms, to prevent criminals from using DeFi to launder money and evade sanctions. If sanctioned individuals (such as Russian oligarchs) use DeFi services to circumvent U.S. imposed restrictions, those controlling DeFi projects will be held accountable for facilitating the violations. If no one controls the service, this liability will shift to investors who have invested over $25 million in the project. (Source link)

ChainCatcher news, according to Jin10, U.S. President Biden expressed that he is pleased the Treasury quickly resolved the issues with Silicon Valley Bank, and will focus on holding those responsible for creating "this chaos" accountable, planning to continue efforts to strengthen regulation of large banks. (source link)

ChainCatcher News, U.S. Senator Tom Emmer from Minnesota fiercely criticized the "flawed" "crypto information gathering efforts" of SEC Chairman Gary Gensler, insisting that Gensler should appear before Congress to explain the costs of his "regulatory failures." Previously, Emmer also stated on Twitter that Gensler's lack of leadership was one of the reasons for the catastrophic collapse of FTX in early November.The senator pointed out that the SEC's efforts to obtain information from cryptocurrency companies are not "targeted, intentional, or explicit," but rather "random and unfocused." Gensler has been avoiding questions regarding the methods and processes the SEC will employ in overseeing the digital asset industry. (Cointelegraph)

ChainCatcher message, Huobi Global released a statement regarding the truth of the GALA incident: pNetwork maliciously exploited management privileges to issue over 55.6 billion GALA tokens on the BNB Chain, which is not a white hat action, but a premeditated hacking attack aimed at malicious profit. The claim of being a white hat is an illegal excuse sought to evade legal sanctions. Huobi will hold them fully accountable and seek compensation in accordance with the law on behalf of the industry and users. (source link)