As the DeFi and crypto space continues to evolve rapidly, staying informed about the latest developments and trends is essential. Our weekly recap provides a concise yet comprehensive overview of the most significant news and trends, helping you stay up-to-date with the latest happenings.
Trump to Make Crypto a Priority
According to a Bloomberg report, President-elect Donald Trump plans to designate cryptocurrency as a national priority through an executive order on January 20. This order will establish a crypto advisory council, integrating industry insights into policy-making. It also directs regulators to work more closely with the crypto sector, with the council comprising executives from leading firms to strengthen government-industry communication.
Phantom Wallet's Funding Boost
Phantom Wallet secured $150 million in a Series C funding round co-led by Sequoia Capital and Paradigm, with support from a16z crypto and Variant. The cryptocurrency wallet's valuation surged to $3 billion, up from $1.2 billion in January 2022. The funds will drive crypto adoption and strengthen Phantom’s role in decentralized finance as it aims to become the world’s leading consumer finance platform.
SEC's Lawsuit Against Elon Musk
The SEC has filed a lawsuit against Tesla CEO Elon Musk, alleging a delay in disclosing his 2022 Twitter (now X Corp.) stake, violating federal securities laws. Musk reportedly missed the 10-day deadline for reporting his 5% stake, waiting 11 days beyond the March 2022 cut-off.
Changes in the DeFi and cryptocurrency space continue with increased government involvement and new investments. These events highlight the importance of regulatory compliance and the potential for innovation in this rapidly developing sector.
