This week has seen notable developments in the DeFi and crypto sectors that are worth knowing.
SEC Drops Case Against Ripple
The U.S. Securities and Exchange Commission (SEC) has ended its lawsuit against Ripple Labs, ending a legal battle that had been ongoing since 2020. This move is considered a major victory for Ripple and the entire crypto industry. The case was one of the first major regulatory challenges to crypto firms, indicating a potential shift in regulatory approaches to digital assets.
PumpFun Launches PumpSwap
PumpFun, a Solana-based token launchpad, has launched its own decentralized exchange, PumpSwap, aiming to streamline token migrations and reduce reliance on third-party exchanges. This comes amid a drop in memecoin trading volume from $206 billion in January to $99.5 billion in February following the LIBRA scandal. PumpFun's revenue also halved from $60 million to $30 million, 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, as announced by the Uniswap Foundation 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.
These developments illustrate ongoing changes and trends in the DeFi and crypto world, emphasizing the importance of staying informed about new advancements.
