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SEC Charges DCG and Former Genesis CEO
The U.S. Securities and Exchange Commission (SEC) has charged Digital Currency Group (DCG) and former Genesis CEO Soichiro "Michael" Moro with misleading investors about Genesis’ financial health after the collapse of Three Arrows Capital (3AC). DCG and Moro agreed to pay civil penalties of $38 million and $500,000, respectively, without admitting or denying the allegations.
Bitcoin DeFi TVL Surges 2000% in 2024
Bitcoin-based decentralized finance (DeFi) experienced explosive growth in 2024. Total value locked (TVL) in Bitcoin DeFi rose from $307 million in January to over $6.5 billion by December, marking a 22-fold increase. Key drivers included the infrastructure development of Babylon, a Bitcoin staking and restaking platform that launched its mainnet in August 2024. Binance Research highlighted Babylon as a pioneer in introducing native Bitcoin staking, unlocking new opportunities for BTC in DeFi.
Trump to Prioritize Cryptocurrency as National Agenda
President-elect Donald Trump plans to sign an executive order on his first day in office, January 20, designating cryptocurrency as a national priority. According to Bloomberg, the administration may establish a cryptocurrency council to collaborate with the industry and align policies. Trump has pledged to make the U.S. the global hub for cryptocurrency, a promise that garnered substantial support from the crypto sector during his campaign.
Stay updated on the latest trends and developments in the cryptocurrency world as the industry continues to evolve.
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