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The Commodity Futures Trading Commission (CFTC) is filing charges against the firm behind Uniswap (UNI), alleging that it offered illegal crypto derivatives contracts. In a new press release, the regulatory agency says it has slapped Uniswap Labs with a $175,000 civil penalty and a cease and desist letter after it was allegedly found to be in violation of the Commodity Exchange Act (CEA). According to the regulator, Uniswap Labs never properly registered as a contracts marketplace but was operating as if it did. “Among the digital assets traded on the protocol and through the interface were a limited number of leveraged tokens, which provided users leveraged exposure to digital assets such as Ether and Bitcoin. The order finds these leveraged tokens are leveraged or margined commodity transactions that did not result in actual delivery within 28 days and therefore can be offered to non-Eligible Contract Participants only on a board of trade that has been de...

Jump Crypto has fallen from grace. Despite its best efforts to distance itself from Sam Bankman-Fried following the spectacular collapse of FTX , Jump had unfortunate ties to his fraudulent empire that the CFTC might now be investigating. As Michael Lewis documented in his book Going Infinite, Jump was one the largest market-makers on FTX and lost at least $300 million during its collapse. The firm, along with FTX Founder Sam Bankman-Fried, supported Solana and in the most expensive private bail-out in crypto history, funded Solana‘s then-largest interblockchain asset bridge, Wormhole. Fortune reported on June 20 that the US Commodity Futures Trading Commission (CFTC) is investigating Jump, but didn’t provide details about the nature of its inquiries. On June 24, Bloomberg reported that Jump president Kanav Kariya stepped down. The CFTC hasn’t sued Jump nor commented on its investigation and it’s important to remember that the existence of an investigation isn...

What’s the Matter? On June 29, the exchange announced BCH/TUSD and CFX/TUSD trading pairs with no costs, according to a screenshot Cochran posted. He believes Binance’s motivation for the update is to allow users to continue publishing BCH while giving the impression that they are backing that volume with Sun’s unbacked shell company coin. advertisement Your Binance assets are being used however they want. The Binance Pegged Assets on BSC are not fully backed. There is an asset hole, and their promos are just to cover their asses. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs In 2023 Must Read ...