The CFTC’s director warned that other DeFi ecosystems may also be fined for offering illegal trading services, while Polygon’s native token executed a key technical upgrade.
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
This week in DeFi saw more regulatory moves as the United States Commodity Futures Trading Commission (CFTC) charged Uniswap Labs with illegally offering leveraged crypto trading for retail investors. The CFTC’s director warned of more potential enforcement actions toward DeFi ecosystems.
In the broader DeFi space, Polygon’s native cryptocurrency was upgraded to the Polygon Ecosystem Token (POL). Polygon said the token would be a “hyperproductive” token and better serve the ultimate vision of Polygon 2.0, which aims to unite the entire Web3 space via AggLayer, including layer-1 blockchains.
