As a Columbia-trained fintech analyst in NYC, I’ve been tracking the seismic shift in DeFi — and the 2025 regulatory pivot is no longer theoretical. With SEC’s SAB 121 repeal and the GENIUS Act pushing stablecoin standardization, institutions are finally entering the chain. HTX Research’s latest report dives into how protocols like Spark, Maple Finance, and Orbital AMM are turning speculative DeFi into a credit-driven, compliant financial layer. This isn’t hype — it’s infrastructure. Here’s what you need to know before the next wave hits.