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 a concise yet comprehensive overview of the most significant news and trends.
Donald Trump Could Make Crypto a National Priority
President-elect Donald Trump is set to designate cryptocurrency as a national priority through an executive order on January 20, per a Bloomberg report. The order will establish a crypto advisory council, integrating industry insights into policy-making. It also directs regulators to collaborate more closely with the crypto sector, with the council comprising executives from leading firms to strengthen government-industry communication.
Phantom Wallet Secures $150M in Funding Round
Phantom Wallet has raised $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 Sues Elon Musk Over Delayed Twitter Stake Disclosure
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.
The past week has been filled with significant news for the DeFi and crypto worlds. From potential national focus on cryptocurrency in the US to major investment deals and legal proceedings, these events have substantial impacts on the sector's development and perception.
