ShapeShift settles pre-DAO SEC case, Uniswap hits 2-year high: Finance Redefined

Cryptocurrency exchange ShapeShift has settled a lawsuit with the United States Securities and Exchange Commission (SEC). The case dates back to 2021, before it became a decentralized autonomous organization (DAO).

Uniswap’s
UNI

tickers down
$14.21

token blasted to two-year highs amid the marketwide bullish surge, and Solana proponents believe it needs a breakthrough consumer app to rival the Ethereum network.

Experts weigh in on how pump-and-dump schemes harm the crypto industry, and the total value locked (TVL) in DeFi crosses $100 billion for the first time in three years.

Solana needs Firedancer, “ChatGPT moment” to rival ETH, proponents say
A major upgrade on Solana aimed at increasing transaction processing in 2024, paired with a potential breakthrough consumer app, could be all that’s needed for Solana to finally live up to its moniker as an “Ethereum killer.”

That’s what Solana’s proponents believe amid a fresh wave of on-chain activity, increasing developer count and a growing number of users, boosted partly by a memecoin-led resurgence in December 2023.

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DeFi pump-and-dump schemes rake in millions, harm industry credibility
The cryptocurrency space is often compared to the Wild West, and while it has been maturing to resemble the world of traditional finance more closely, in the DeFi space, the “wild” ethos remains, with freewheeling trading activity often leading to pump-and-dump schemes and wash trading.