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Uniswap (UNI) recently had to pay a fine after the CFTC accused the company behind the project, Uniswap Labs, of breaking the rules relating to leveraged and margined digital assets. With this news, investors are considering a new crypto coin as a hedge against market uncertainty.
What was the effect of this accusation on UNI? And why is this new crypto coin attractive to investors? Let’s find out!
CFTC Settles With Uniswap Concerning Regulatory Breach
The United States Commodity Futures Trading Commission revealed in a press release on September 4, 2024, that it had issued an order filing and settling charges against Uniswap Labs, the parent company of the Uniswap decentralized exchange and ecosystem.
The charges concerned the offering of illegal leveraged and margined commodities transactions. Uniswap was said to have illegally allowed the trade of leveraged crypto tokens on its decentralized digital asset trading protocol.
The press release revealed that Uniswap Labs had already paid a civil monetary fine of $175,000. A civil monetary fine is a non-criminal remedy/payment for a party's violations of laws or regulations.
In response to the CFTC’s statement, Uniswap Chief Legal Officer Katherine Minarik said, “We remain singularly focused on building the future of DeFi for everyone and taking on the fights necessary to make that happen."
Meanwhile, UNI fell to $5.84 on the day the news broke. However, the token has since rebounded by 12.3%, surpassing its price before the CFTC’s press release.
Analysts say UNI can rise to $7.00 again with its current momentum, defying the market's prevalent bearish trend.
FXGuys Soars in Popularity as the Best Decentralized Trading Platform
FXGuys has attracted much attention recently. One reason is its innovative offering, which features a decentralized trading platform where users receive capital and other incentives to trade. The platform allows access to various asset classes, including forex, crypto, equities, commodities, and indices.
To start trading on FXGuys, aspiring traders will have to complete a non-timed challenge level. Successful traders from this stage will then receive an account funded with up to $200,000 to trade.
The profit-sharing formula is 80% for the trader and 20% for FXGuys. However, top-performing traders can be rewarded with a higher profit share. Traders will also earn $FXG tokens whether they turn a profit or not. This reward can be exchanged for lower profit targets, increased drawdown limits, and other trading perks.
Moreover, FXGuys promises traders regular payouts through a variety of methods. Profits can be collected through crypto, bank transfers, or payment platforms like Rise and Paypal.
Another attractive aspect of FXGuys is its presale stage. The protocol is currently in the private round, and $FXG is sold for $0.015. The token is expected to pump 100% by the start of the public presale stage and up to 500% by launch.
Buying $FXG Gives You Access to the Highest Gains!
$FXG is the utility ERC-20 token of the FXGuys Ecosystem, with a total supply of 835 billion tokens.
The public sale takes the largest share with 35%, the staking and rewards pool receives 17%, and marketing gets 11%. The remaining 37% is allocated to listing and liquidity, private rounds, the funding program, the team, legal, and seed.
$FXG is currently sold for $0.015 in the private sale round. Investors who buy the token now could potentially earn a 100% profit when Stage 1 of the public presale begins at $0.03. If they hold on, they can earn up to 566% when the presale ends and the token launches at $0.10.
Other perks of owning $FXG include trading discounts and purchase trading challenges. Token holders will also receive a share of the platform’s revenues. What’s more, $FXG traders can stake their tokens for rewards.
You can enjoy all these exciting benefits by purchasing $FXG today!
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
