The R Roundup: Uniswap Fantastic v4 — Issue #93
Uniswap Labs, the team behind the popular decentralized finance (DeFi) platform Uniswap, has announced plans for the upcoming launch of Uniswap v4.
In a departure from previous releases, Uniswap Labs is seeking community feedback before the public launch, emphasizing its commitment to decentralization and distinguishing itself from centralized exchanges like Coinbase and Binance, which are facing legal actions from the U.S. Securities and Exchange Commission (SEC).
Uniswap, known for pioneering automated market makers (AMMs), is currently the largest decentralized exchange by trading volume.
Uniswap v4 aims to enhance the platform’s coin-swapping capabilities with new features such as “hooks,” which are plugins enabling customization of various interactions within the pools, swaps, fees, and LP positions.
The upcoming upgrade is also expected to introduce performance improvements, fee reductions, and a significant decrease in network gas fees for listing new pools. Uniswap v4’s proposed licensing model is the Business Source License 1.1, similar to that of Uniswap v3, which restricts competitors from using Uniswap’s codebase without delay.
a16z Goes UK🇬🇧
Venture capital firm Andreessen Horowitz (a16z) plans to establish its first overseas office in the UK, citing the country’s positive stance on web3 and blockchain technology.
The move comes amid increased regulatory pressure on the crypto industry in the US, with lawsuits against major exchanges like Binance and Coinbase impacting token prices and prompting market participants to explore alternative jurisdictions.
The UK government, led by Prime Minister Rishi Sunak, aims to provide regulatory clarity for crypto businesses and foster innovation in the sector. Sunak’s office expressed enthusiasm over a16z’s decision to open an office in the UK, highlighting the potential for blockchain-powered startups to contribute to economic growth.
Judge Blocks Binance Asset Freeze🥶
Binance.US, the US subsidiary of cryptocurrency exchange Binance, has avoided an asset freeze but agreed to stringent conditions in a civil case brought by the Securities and Exchange Commission (SEC).
The consent order requires Binance.US to repatriate assets held for domestic customers and keep them under the control of domestic personnel, limit spending to regular business expenses, and submit to expedited discovery on the custody and security of client assets. The SEC alleges that Binance evaded regulatory oversight.
The order aims to protect investor assets and prevent parent company Binance Holdings and CEO Changpeng Zhao from accessing customer funds. While the order allows Binance.US to continue operations, it is expected to face a prolonged court battle over allegations of violating federal securities laws and enriching themselves at the expense of investors.
Binance may also face criminal charges related to its US activities from the Department of Justice.
BlackRock Files Bitcoin Spot ETF🪨
BlackRock, the world’s largest asset manager, has filed for a bitcoin exchange-traded fund (ETF), aiming to provide investors with exposure to the cryptocurrency despite regulatory scrutiny.
The iShares Bitcoin Trust, which will use Coinbase Custody as its custodian, has been submitted to the US Securities and Exchange Commission (SEC).
While the SEC has yet to approve any applications for spot bitcoin ETFs, BlackRock’s move is seen as a positive development for regulatory approval.
The filing comes as the cryptocurrency industry faces lawsuits from the SEC against major exchanges Coinbase and Binance.
A spot bitcoin ETF would allow investors to track bitcoin’s market price without directly purchasing it. Grayscale Investment’s application for a spot bitcoin ETF was rejected by the SEC last year, leading to a lawsuit by Grayscale. Bitcoin prices increased by 2% following the announcement.
As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies. This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.
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