Weekly Article Recap: 1/20-1/24

Recapping the Week in DeFi

As the DeFi and crypto landscape rapidly evolves, it's crucial to remain informed. Our weekly recap offers a concise yet comprehensive overview of the most significant news and trends, keeping you up-to-date with the latest developments.

US President Donald Trump Signs Landmark Crypto Executive Order: Key Takeaways

President Trump issued an executive order on January 23rd to bolster U.S. leadership in blockchain and digital assets. The directive prioritizes regulatory clarity, financial independence, and privacy. Notably, it prohibits federal efforts to promote Central Bank Digital Currencies (CBDCs) in the U.S.

SEC Rescinds 'Anti-Crypto' SAB 121, Introduces SAB 122

The U.S. SEC withdrew its controversial Staff Accounting Bulletin (SAB 121) and introduced SAB 122. The new guidance provides a more flexible approach for financial institutions handling digital assets. Unlike SAB 121, which classified user-held crypto assets as liabilities, SAB 122 allows custody without liability but mandates disclosure of related risks.

Bitwise Files for Dogecoin (DOGE) ETF Amid Growing Meme Coin Interest

Bitwise Asset Management filed for a Dogecoin (DOGE) exchange-traded fund (ETF) with the U.S. SEC on January 23rd. The filing signals the company's intention to create a DOGE-focused investment product. The proposal includes a Delaware statutory trust to ensure governance and tax transparency.

US President Donald Trump Pardons Ross Ulbricht, Creator of Silk Road

President Trump granted a full pardon to Ross Ulbricht, founder of the Silk Road dark web marketplace, on January 20th, 2025. Ulbricht had been serving a life sentence since 2015. The decision was influenced by Libertarian advocacy and concerns over excessive sentencing. Trump cited Ulbricht's mother and the Libertarian movement as factors in his action.

Ethereum Foundation Allocates 50,000 ETH to Strengthen DeFi Ecosystem Participation

The Ethereum Foundation allocated 50,000 ether (ETH), valued at $162.1 million, to expand its involvement in decentralized finance (DeFi). The move aims to optimize the Foundation's Ethereum holdings while enhancing its participation in the DeFi ecosystem. To manage these assets, a 3-of-5 multisig wallet with Safe has been established, ensuring transparent and secure interactions with DeFi protocols.