Uniswap Fined $175,000 For Illegal Leveraged Offerings; DeFi Investors Catch the Growth Wave on FXGuys

Uniswap (UNI) is one of the world’s largest DEXs, and it was bound to be under scrutiny by US regulations sooner or later. Recently, the US CFTC asked Uniswap to pay a fine for selling marginal commodities without getting approval from the commission. Thankfully, Uniswap investors withstood the pressure and refused to dump.

On the other hand, savvy traders are already looking for new investment options for Q4 2024, and FXGuys ($FXG) is a leading choice. Keep reading to see why!

On September 4, 2024, the Commodity Futures Trading Commission(CFTC) slammed Uniswap with a $175,000 fine.

The regulatory body claims that Uniswap offered margined and leveraged commodity transactions through digital assets without approval from the commission. The CFTC also issued a warning to Uniswap to desist from all activities that violate the Commodity Exchange Act (CEA).

The CFTC also accused Uniswap of lowering the barrier to entry and allowing regular retail traders to participate without any supervision.

According to Ian McGinley, Director of Enforcement at CFTC, the action demonstrates that his division will continue to enforce the CEA as DeFi ecosystems gain general acceptance. US regulators have been aggressively regulating the crypto giants since COVID-19, and Uniswap seems to be the next in line.

Amid the crackdown on Uniswap, investors stood with the ecosystem, and UNI recorded a double-digit surge. On September 2, UNI traded for $5.83. Within a week, UNI gained an impressive 12.84% and sold for $6.70.

On the other hand, analysts believe Uniswap’s legal tussle is just starting. Other regulatory bodies like the US SEC may likely shine a brighter torch on Uniswap, leading to slowed growth in Q4 2023.

According to Tokenist, there are about 10 million traders worldwide. Thanks to FXGuys, these traders are about to get their own digital superpower. FXGuys is a decentralized broker that provides traders with high-powered analytics tools.

This multi-asset platform also offers $FXG tokens for every trade executed on the DeFi platform. $FXG is an ERC-20 token and the native currency of the FXGuys ecosystem.

Holders of $FXG will be allowed to vote, enjoy trading discounts, share from revenue, and enjoy challenge and trading rewards, amongst other benefits.

Additionally, ambitious traders on FXGuys will have the opportunity to get over $500,000 in trading capital in a Forex Funding program. FXGuys also integrated DeFi into its protocols to allow for transparent transactions and crypto payments.

Right now, $FXG is selling for $0.015 in its private sale phase, and investors are rushing to get in early. $FXG plans to launch at $0.10 at the end of its presale phase, and we believe that $FXG will deliver 900% ROI to early birds who bought $FXG tokens in the seed funding phase at $0.01.

With $FXG as the native token on FXGuys, we might see the crypto coin gain fast popularity in the DeFi community.

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