Crypto Weekly Roundup: SEC Goes After Uniswap, Solana Bug, & More

Crypto Weekly Roundup: SEC Goes After Uniswap, Solana Bug, & More

The U.S. Securities and Exchange Commission (SEC) has continued to hinder crypto firms, the latest being an enforcement notice to Uniswap. The agency has also postponed its decision regarding offering options trading for crypto on the NYSE. Let’s dig deeper. 

Bitcoin

The SEC has delayed its decision to allow the New York Stock Exchange to offer options for trading on spot Bitcoin ETFs. 

Ripple CEO Brad Garlinghouse has predicted that the crypto market capitalization will double to $5 trillion by the end of the year. 

DeFi

MarginFi’s CEO resignation amidst controversies and disputes with Solana-based projects has triggered a significant outflow of funds, reflecting a crisis of confidence within the Solana DeFi ecosystem.

Technology

Andre Cronje, co-founder of the Fantom blockchain, has defended the Solana network despite recent transaction failures. He believes it is an unfortunate side effect of rapid expansion. 

Business

Tech startup Auradine has successfully concluded a Series B funding round worth $80 million ahead of the Bitcoin halving event. 

Blockchain development company Monad Labs has successfully raised $225 million in its latest seed funding round led by Paradigm. 

Thesis, a venture studio building on the Bitcoin ecosystem, has announced the launch of its Bitcoin Layer-2 platform, Mezo

Metaplanet has partnered with Sora Ventures to invest JPY 1 billion or $6.5 million in Bitcoin in a bid to build “Asia’s First MicroStrategy.” 

Security

Solana developers have set April 15 as the target date for implementing a fix for recent transaction failures and issues plaguing the blockchain network. According to reports, the implementation bug has caused the transaction failure rate on the Solana blockchain to skyrocket. Developers have now confirmed they are looking to implement a fix for the bug on April 15. 

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Regulation

The recent ruling by the High Court in Podgorica sets the stage for Justice Minister Andrej Milovic to make the final call on Terraform Labs co-founder Do Kwon’s extradition destination, whether it be the United States or South Korea.

FTX founder Sam Bankman-Fried has appealed his fraud conviction and 25-year prison sentence for stealing billions from customers of the now-defunct exchange.

US Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WYO) will soon introduce new legislation in the Senate that would offer two paths to stablecoin issuers. 

Uniswap, one of the world’s leading DeFi protocols, has received an enforcement notice from the SEC stating that the latter will pursue enforcement action over concerns that the DEX may be operating as an unregistered securities broker and exchange.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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