In recent crypto news, the US Securities and Exchange Commission (SEC) has charged Digital Currency Group (DCG) and former Genesis CEO Soichoro “Michael” Moro with misleading investors concerning the financial health of Genesis following the Three Arrows Capital collapse. They will pay a total of $38.5 million in civil penalties. Additionally, Bitcoin-based decentralized finance (DeFi) applications had a significant 2024, with the total value locked (TVL) in the Bitcoin network surging over 2,000% to reach more than $6.5 billion. This growth is largely attributed to the development of the staking platform Babylon, which dominates the BTCFi sector. Moreover, US President-elect Donald Trump is reportedly planning an executive order that will prioritize crypto policy and could establish a crypto council to engage with the industry.

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