This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.

Barry Silbert’s Digital Currency Group (DCG) is reportedly being investigated by the U.S. Department of Justice’s (DOJ) Eastern District of New York and the U.S. Securities and Exchange Commission (SEC), according to Bloomberg. The entities are examining financial transfers between DCG and its Genesis unit. The prosecutors with the DOJ's Eastern District of New York office have requested interviews and documents from DCG and Genesis, the report said, while the SEC appears to be in a similarly early stage of its own inquiry. The report, which cited people familiar with the matter, said that neither Genesis nor DCG, which is also the parent company to CoinDesk, has "been accused of wrongdoing."

Tokens associated with Solana (SOL) and Cardano (ADA) outpaced the broader crypto market amid signs of recovery over the weekend. SOL and ADA were up over 15% on Monday morning, before seeing a slight price retreat as traders took profits. Solana was buoyed over the past week as some projects – most notably the Shiba inu-themed Bonk (BONK) – saw massive hype and adoption within the ecosystem. On-chain data shows daily active users of Solana increased by over 40% in the past two weeks, from nearly 300,000 users in late December to over 525,000 wallets as of Monday.

Bankrupt crypto lender Voyager Digital has defended its $1 billion plan to sell assets to Binance.US, calling criticisms “hypocrisy and chutzpah” based on unverified speculation, two legal filings posted late Sunday night show. The plan has been opposed by Alameda Research, the trading arm of bankrupt crypto exchange FTX, as well as the SEC, U.S. Justice Department and numerous state-level regulators, with a hearing due to be held at a New York bankruptcy court on Tuesday.

– Omkar Godbole