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On 4 September 2024, the Commodity Futures Trading Commission (CFTC) issued an order against Uniswap Labs, also known as Universal Navigation Inc., based in New York. According to the CFTC, the company allegedly engaged in the illegal offering of leveraged or margined retail commodity transactions in digital assets through a decentralized trading protocol.
The UNI price surged more than 8% today, before witnessing a slight retreat after the US CFTC slapped Uniswap Labs with a settlement fine. In a recent update, the US Commodity Futures Trading Commission (CFTC) has issued an order against the firm for illegal digital assets derivatives trading.
Decentralized exchange Uniswap has settled with the Commodity Futures Trading Commission over illegal digital asset derivatives trading. Per a CFTC notice on Sept.
The Commodity Futures Trading Commission has issued an order against one of the leading DeFi
Uniswap Labs will pay $175,000 to settle charges it offered illegal leveraged and margined commodities transactions, a CFTC press release said.
The CFTC's action against Uniswap Labs highlights increasing regulatory scrutiny on DeFi platforms, potentially reshaping the crypto landscape. The post CFTC charges Uniswap Labs for illegal crypto derivatives trading, imposes $175,000 penalty appeared first on Crypto Briefing.
Uniswap Labs, the company behind Uniswap, has settled the charges and will pay a $175,000 fine per the CFTC announcement.
The CFTC filed and settled charges against Uniswap Labs for $175,000, according to a statement on Wednesday.
The Commodities Futures Trading Commission announced a settlement with Uniswap Labs on Wednesday.
In the past 24 hours, Uniswap has experienced a notable surge of over 6%, reflecting a renewed interest in the altcoin. At the time of writing, UNI was trading at $6.06, showing significant upward momentum.
Bitcoin (BTC) has climbed back above $59,000 during the ongoing session, reaching a high of $59,764 and registering an increase of almost 3% over the past 24 hours.
Sellers might be exhausted with exchange inflows dwindling after hitting a monthly high on August 24.
As major cryptos recover on Monday following a dip over the weekend to fresh multi-week lows, traders are hunting for top crypto performers today in the alt-coin market that might be able to sustain bullish momentum during September, a typically bearish month for the likes of Bitcoin (BTC).
Uniswap, a prominent name in the decentralized finance (DeFi) arena, has garnered considerable attention with its UNI token. Currently trading at approximately $5.95, many investors are eager to know if UNI can achieve the $10 mark within this year.
Story Highlights The live price of the UniSwap crypto token is . The UNI price could reach a maximum of $10.47 in 2024. Unicoin price, with a potential surge, may reach a high of $44.49 by 2030. DeFi's have come into existence with the idea of no intermediaries.
Uniswap (UNI) has made a promising rebound to the $5.5 mark, sparking renewed optimism among investors and traders. With fresh momentum building, all eyes are on whether UNI can capitalize on this upward shift and push toward the next resistance level at $6.7.
The crypto market has showcased a sideways trend for the past few months following the consolidation trend in Bitcoin price. As a prolonged correction looms, altcoins like MATIC, SHIB, and UNI are at risk for significant downfall as a small number of entities hold the majority of supply.
DeFi tokens and meme coins in the Ethereum ecosystem have the highest centralization, with the top 10 investors controlling the lion's shares.
Another key reason for the surge in transactions is the overall increase in DeFi adoption.
The year 2024 becomes the best year ever for the DEX in terms of the number of transactions: during 2024, the DEX Uniswap has already surpassed the overall transaction record, setting a new all-time high.
The cryptocurrency market has grown significantly in the past few years due to its high decentralization, security, and throughput compared to traditional financial systems. Bitcoin's (BTC) decentralization has largely been achieved through its proof-of-work (PoW) consensus method, which allows anybody to participate in the mining process.
Uniswap gained 3.4% and Internet Computer rose 2.8% in overnight trading.
Bitcoin briefly fell below $58,000 late on Wednesday, dipping to a low of $57,974 before recovering. Since then, price action has been relatively muted, with Bitcoin (BTC) trading just above the $59,000 price level, down 0.80% in the past 24 hours.
Uniswap Labs and cross-chain interoperability provider Across Protocol have proposed a new Ethereum token standard for cross-chain intents to address liquidity fragmentation challenges. The new standard is under Ethereum Request for Comment 7683 (ERC-7683) and aims to establish a unified framework for specifying cross-chain actions in intents-based systems.
