The team behind Uniswap, a decentralized finance platform based on the Ethereum network, has disclosed the new addition of former New York Stock Exchange president Stacey Cunningham as their new advisor.
On its Twitter account, Uniswap shared a thread, where they announced this fact, in addition to highlighting the achievements that this former president has over the years. Among them, her passage from floor operator on the New York Stock Exchange and her promotion to president between 2018 and 2022.
We are beyond honored to welcome Stacey Cunningham, former President of the New York Stock Exchange, as an advisor to Uniswap Labs..
Uniswap.
The Uniswap team also explained that joined the project because he believes in the potential of decentralized exchange. Uniswap Labs brought Stacey Cunningham on board because they believe in the potential of their DeFi platform and commitment to “fairer markets,” the thread continues.
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Uniswap Labs focuses on developing revolutionary technology, through ups and downs. Our goal is to enable more transparent and fair markets for all. Stacey has seen how it’s done in TradFi, and she’s excited to work with our team to bring a better system to DeFi.
Uniswap.
Uniswap Labs under the eyes of regulators
Stacey Cunningham joining Uniswap comes at a time when global regulators are scrutinizing the industry of decentralized finance.
This is due to the latest events that happened in the world of cryptocurrencies. For example, the collapse of the UST stablecoin and the LUNA token, the loss of parity with other algorithmic stablecoins such as USDD, and the insolvency of Celsius due to the bear market, events reported in CriptoNoticias.
A report from the Wall Street Journal last September 2021 indicated that the United States Securities and Exchange Commission (SEC) was investigating Uniswap. Furthermore, the report indicates that the SEC is investigating how investors use the Uniswap platform, its token, and how it trades.
In the report, a Uniswap representative mentioned that they were “committed to complying with the laws and regulations that govern our industry and providing information to regulators that will help them with any queries.”