UNI is the governance token for Uniswap, an Automated Market Market DEX on the Ethereum blockchain. The UNI token allows token holders to participate in the governance of the protocol. Key decisions such as usage of the treasury or future upgrades can be decided through a governance vote.
Hayden Adams, founder of one of the largest decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. exchanges, took to Twitter to denounce the sudden and unjustified shutdown of his account.
One of the largest banks in the United States has closed the bank accounts of Hayden Adams, the founder of the popular decentralized exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. (DEX), Uniswap . This was reported by Adams through his Twitter account an account is essentially a whose purpose is to track the financial activities of a specific asset/ on Sunday.
According to the founder, banking giant JPMorgan Chase closed his bank accounts without prior notification or an explanation as to the reasons behind the move. Adams added that he is not the first person within the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. sphere to experience a block of his kind by a bank.
This week JPMorgan Chase closed my bank accounts without warning or explanation. I know many people and companies that have been targeted in similar ways simply for working in the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. industry. Thank you for making it personal.
???????? I know many individuals and companies who have been similarly targeted simply for working in the crypto industry
???? Thanks for making it a personal
— hayden.eth ???? (@haydenzadams) January 23, 2022
SEC investiga a Uniswap
The closure of Adams’ bank accounts comes four months after the U.S. Securities and Exchange Commission (SEC) allegedly closed his bank accounts. (SEC) allegedly to open an investigation into Uniswap Labs the developer of the exchange. A report by Wall Street Journal September broke the news.
Citing familiar sources, the report noted that U.S. regulators were seeking information on how investors use the exchange. Uniswap and how it is marketed through the platform.
At the time, a spokesman for Uniswap Labs told the media that the company is “ committed to complying with the laws and regulations that govern our industry and to providing information to regulators that will assist them with any inquiries “. It is worth noting that Uniswap web-based Ethereum a decentralized open-source blockchain with smart contracts functionality. is among the top ten Top DEX (decentralized exchange)A peer-to-peer exchange allowing users to trade cryptocurrency without the need for an intermediary. by Total Value Locked Volume how much cryptocurrency has been traded over a set period, such as the past 24 hours. (TVL) .
While the release did not provide further details on the SEC’s investigation, the report was interpreted as a sign of the regulators’ intention to exercise greater oversight in the cryptocurrency space, specifically in the decentralized finance (DeFi) sphere, something the agency’s chairman, Gary Gensler, had already hinted at last year.
Shortly thereafter, amid rumors of tighter regulation, Uniswap Labs hired Hari Sevugan, a former spokesman for former President Barack Obama, as its communications chief to help the developer navigate political waters.
A silent attack on DeFi?
While there has been no further information about the investigation, some have asserted that the recent closure of Adams’ accounts is a silent attack on the industry. At least that was the opinion of Brian Quintenz, former chairman of the U.S. Commodity Futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. Trading Commission (CFTC), who now works as a partner at the crypto investment firm. (CFTC), who now works as a partner at the crypto investment firm,Andreessen Horowitz.
Quintenz shared his vision in a tweet in response to the publication of the founder of Uniswap :
Probably a shadow banking disposal of cryptocurrencies by [Federal Reserve] bank examiners or [ of the Office of the Comptroller of the Currency with instructions from above. If the examiner tells a bank that a certain customer is too risky and the bank terminated that relationship, the bank has a contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. that prevents it from telling that customer why.
The publication of the founder had in general several responses. Among them, the Democratic candidate for U.S. Congress, Matt West, expressed his rejection of the measure and emphasized that “ is part of why we need a clear regulatory framework. “ for cryptocurrencies in the country. Also the official account of Twitter customer service from JPMorgan responded to the post by asking Adams for information about what happened via private message.
As he recalledThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain.While the bank has taken a more receptive attitude to digital currencies in recent years, this is not the first time that it has been involved in a digital currency. JPMorgan Closes an account of a crypto executive or company. In 2018, the bank closed an account to Erik Voorgees, founder of cryptocurrency exchangeShapeShiftand had previously closed an account on the exchange Kraken .
- JPMorgan bank closed accounts of US Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. firm, reports say
- SEC investigates developer of decentralized exchange Uniswap
- 55% of JPMorgan Chase bank clients believe Bitcoin will be worth more than USD $60,000 by 2022
Article versioned by Hannah Estefania Perez / DiarioBitcoin
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