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Zubin Koticha and Alexis Gauba, two founders of the Opyn decentralized finance (DeFi) protocol, are stepping down from the project and “leaving crypto,” according to a statement from Koticha posted to social media on Nov. 14. The statement comes approximately two months after Opyn settled an enforcement action against it
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The United States Commodity Futures Trading Commission (CFTC) is taking regulatory action against three decentralized finance protocols for allegedly failing to register various derivatives trading offerings.The U.S. commodities regulator announced that it issued orders against protocol Opyn, ZeroEx and Deridex in a Sept. 8 statement.Today @CFTC issued orders against operators
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The three firms face a number of accusations based on their use of blockchain-based protocols and smart contracts to function as trading platforms, according to the CFTC. The U.S. derivatives regulator is ordering Opyn, ZeroEx, and Deridex to cease the activity and pay penalties of $250,000, $200,000, and $100,000, respectively.
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Opyn, a marketplace for decentralized finance (DeFi) options, has rolled out a host of new features in its updated protocol that aim to make the crypto options markets more efficient and liquid. While Opyn entered DeFi with an insurance-like product for governance tokens such as compound, its focus has since pivoted
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