Rise’n’Crypto
CFTC charges Uniswap, but commissioner dissents, new Angel Drainer on the rampage
Sep 5, 2024
Senator Elizabeth Warren, a U.S. Senator championing consumer protection, joins attorney John Deaton, a prominent crypto advocate. They dive into the CFTC's recent charges against Uniswap for illegal derivatives trading, highlighting a rift within the CFTC itself. The discussion also touches on Ripple's legal troubles and the potential implications of a newly upgraded hacking tool affecting blockchain technologies. The duo engages in a lively debate on the responsibilities of 'crypto billionaires' in today's market.
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Quick takeaways
- Bitcoin's network activity has decreased significantly, reflecting growing investor disinterest amid economic recession concerns and market uncertainty.
- The CFTC's charges against Uniswap reveal internal disagreements on regulatory enforcement within the agency, highlighting the need for clearer guidance in DeFi.
Deep dives
Bitcoin's Market Activity Decline
Bitcoin's price is reflecting a downward trend that aligns closely with the performance of traditional stocks, as increasing concerns about a potential recession in the U.S. emerge. Open interest in Bitcoin has decreased significantly, indicating a lack of investor engagement, which correlates with the drop in network activity to a three-year low. This data suggests a general disinterest among investors in the crypto market, as highlighted by analyses from CryptoQuant. The current sentiment around Bitcoin seems to be one of waiting and observing, leaving market participants uncertain about the next steps to take.
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