As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed about the latest developments and trends. Our weekly recap provides a concise yet comprehensive overview of the most significant news and trends, helping you stay informed and up-to-date with the latest happenings.
US SEC Drops Ripple Lawsuit
The U.S. SEC has dropped its lawsuit against Ripple Labs, ending a legal battle that began in 2020. The move is seen as a major victory for Ripple and the broader crypto industry. The case was one of the first major regulatory challenges to a crypto firm, signaling a possible shift in how regulators approach digital assets.
PumpFun Introduces PumpSwap to Challenge Raydium
PumpFun, the Solana-based token launchpad, has launched its own DEX, PumpSwap, aiming to streamline token migrations and reduce reliance on third-party exchanges. The move comes as memecoin trading volume drops from $206B in January to $99.5B in February after the LIBRA scandal. PumpFun’s revenue also halved, falling from $60M to $30M, though it remains Solana’s seventh-largest protocol.
Uniswap Approves $165.5M Growth Plan
The Uniswap community has approved two key governance proposals to expand its ecosystem, the Uniswap Foundation announced on March 19. The plan includes funding for Ethereum layer-2 Unichain, the Uniswap v4 protocol, and long-awaited liquidity incentives. Backed by a $165.5 million budget, the initiative aims to drive growth and innovation for the decentralized exchange.
This week's events highlight significant shifts in crypto and DeFi regulations and innovations. From the dismissal of the Ripple lawsuit to new initiatives by PumpFun and Uniswap, these developments show how quickly the industry's landscape is changing.
