Recapping the Week in DeFi

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 in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings.

Donald Trump Could Make Crypto a National Priority With Executive Order: Report

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.

Read the full story. 

Phantom Wallet Secures $150M in Funding Round Led by Sequoia Capital and Paradigm

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.

Details here.

US 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.

Learn more in the article.

Sony Announces the Mainnet Launch of Soneium Blockchain

Sony has officially launched its blockchain platform, Soneium, to empower creators by cultivating direct fan engagement. Announced on January 14, the platform offers tools like NFT-based systems and an incubation program, Soneium Spar, to enhance artist-fan interactions.

Find more information here. 

Jio Platforms Partners with Polygon Labs to Enhance Services for its 450M Users

India’s largest mobile network operator, Jio Platforms Limited (JPL), has teamed up with Polygon Labs to bring blockchain and Web3 technologies to its services. Owned by Mukesh Ambani, Jio plans to enhance digital experiences for its 450 million users with Polygon’s advanced blockchain solutions. 

Details in the article.