{"id":343883,"date":"2021-09-24T21:56:50","date_gmt":"2021-09-24T18:56:50","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/finance-redefined-layer-two-growth-and-the-secs-scrutiny-sept-19-23\/"},"modified":"2021-09-24T21:56:50","modified_gmt":"2021-09-24T18:56:50","slug":"finance-redefined-layer-two-growth-and-the-secs-scrutiny-sept-19-23","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/finance-redefined-layer-two-growth-and-the-secs-scrutiny-sept-19-23\/","title":{"rendered":"# Finance Redefined: Layer-two growth and the SEC\u2019s scrutiny, Sept. 19\u201323"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a320d5308\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a320d5308\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-layer-two-growth-and-the-secs-scrutiny-sept-19-23\/#Layer_twos_defining_the_future\" >Layer two\u2019s defining the future<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-layer-two-growth-and-the-secs-scrutiny-sept-19-23\/#US_against_the_SEC\" >U.S. against the SEC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-layer-two-growth-and-the-secs-scrutiny-sept-19-23\/#SushiSwap_denies_reports_of_billion-dollar_bug\" >SushiSwap denies reports of billion-dollar bug<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-layer-two-growth-and-the-secs-scrutiny-sept-19-23\/#Token_Performances\" >Token Performances<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Finance Redefined: Layer-two growth and the SEC\u2019s scrutiny, Sept. 19\u201323  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Welcome to the latest edition of Cointelegraph\u2019s decentralized finance, or DeFi, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter.<\/p>\n<p>In a week where DeFi\u2019s parabolic growth continued, elsewhere, the United States Securities and Exchange Commission Chair Gary Gensler threatened to tackle stablecoins.<\/p>\n<p>What you\u2019re about to read is the smaller version of this newsletter.\u00a0For the full breakdown of DeFi\u2019s developments over the last week \u2014 released a whole lot quicker than Cardano\u2019s smart contracts<strong> <\/strong>\u2014 subscribe at the bottom of this page.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/79ed3d05-334d-48db-9d1b-3f305996abcf.png\"><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Layer_twos_defining_the_future\"><\/span>Layer two\u2019s defining the future<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This week, analytical data revealed that DeFi continues to be one of the fastest-growing sectors of the crypto economy as evidenced by increases in the total value locked, or TVL, on protocols. Some of the biggest gains have been witnessed across cross-chain compatible networks and layer-two protocols that offer a lower fee environment.<\/p>\n<p>Part of the Avalanche network, Trader Joe is a protocol that has experienced significant inflows since the launch of an upgraded cross-chain bridge. It allows Ethereum-based tokens and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications to migrate to its ecosystem, which has resulted in a 53.96% increase in TVL this week. <\/p>\n<p>The recent emergence of layer-two technologies such as Arbitrum, Optimism and a bridge to the Avalanche ecosystem is revolutionizing the way investors, builders and developers interact with various protocols.<\/p>\n<p>Each facilitates fast, low-cost transactions that improve the fundamentals of the DeFi ecosystem while also making it easier for retail-sized investors to capitalize on opportunities.<\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\">Reported by\u00a0<strong>Jordan Finneseth<\/strong> <\/div>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"US_against_the_SEC\"><\/span>U.S. against the SEC<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>United States investment firms Invesco and Galaxy Digital Funds teamed up this week to file a registration statement with the SEC in a bid to gain approval for the sale of Bitcoin exchange-traded funds (ETF).<\/p>\n<p>If approved by the SEC, the Invesco Galaxy Bitcoin ETF will be registered as a securities offering with the ability to get listed on traditional national exchanges in the United States. According to the filing, the trust will use \u201crobust physical barriers to entry, electronic surveillance and continuously roving patrols\u201d to protect Bitcoin privacy.<\/p>\n<p>Likewise, fellow U.S. firm Amplify ETFs also filed a registration with the SEC, in this case, to add DeFi-centric, open-end ETF funds offering to the Amplify ETF Trust. Approval of the FORM N-1A filing will allow the company to issue unlimited new shares for American investors.<\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\">Reported by\u00a0<strong>Arijit Sarkar<\/strong><\/div>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"SushiSwap_denies_reports_of_billion-dollar_bug\"><\/span>SushiSwap denies reports of billion-dollar bug<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>One of the developers behind popular decentralized exchange SushiSwap has rejected a purported vulnerability reported by a white-hat hacker snooping through its smart contracts.\u00a0<\/p>\n<p>According to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> reports, the hacker claimed to have identified a vulnerability that could place more than $1 billion worth of user funds under threat, stating they went public with the information after attempts to reach out to SushiSwap\u2019s developers resulted in inaction.<\/p>\n<p>However, SushiSwap\u2019s pseudonymous developer soon took to Twitter to reject the claims, with the platform\u2019s \u201cShadowy Super-Coder\u201d Mudit Gupta stressing: <\/p>\n<blockquote><p>\u201cThis is not a vulnerability. No funds at risk. If rewarder runs out of rewards, withdrawing LP will fail but anyone (not just sushi) can top up the rewarder in an emergency. Sushi can also just remove the rewarder.\u201d<\/p><\/blockquote>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\">Reported by\u00a0<strong>Samuel Haig<\/strong> <\/div>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"Token_Performances\"><\/span>Token Performances<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>DeFi\u2019s TVL has fallen sharply by 16.08% this week to a figure of $105.15 billion \u2014 paralleling the decline of the top DeFi tokens.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/ba07ebed-36ce-469a-972f-a81a0d854689.png\"><\/figure>\n<p>Data analysis from Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/markets\/cryptocurrencies\/defi\/\">TradingView<\/a> reveals that DeFi\u2019s top 20 tokens by market capitalization suffered heavy losses across<strong> <\/strong>the last seven days, with only three tokens printing bullish price action.\u00a0<\/p>\n<p>Avalanche (AVAX)<strong> <\/strong>took the top spot on the podium for bullish gains this week with a respectable 13.7%. After a final day surge, Ren nudged over the green line, but still in a distant second with 0.64%, while Dai made up the numbers in third with 0.34%. When a stablecoin makes the top three, that\u2019s when you know it\u2019s been a bad week! <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/289f408e-1ddc-457a-a04b-f55a25149732.png\"><\/figure>\n<p><strong>Want to further your education? Read these additional stories:<\/strong><\/p>\n<ul>\n<li>DeFi\u2019s potential means more institutional demand for next-gen tokens<\/li>\n<li>Senator Warren\u2019s office confuses MakerDAO for failed 2016 project The DAO<\/li>\n<li>Sommelier partners with Mysten Labs to launch Cosmos smart contract<\/li>\n<\/ul>\n<p><em>Thanks for reading our <\/em><em>conspectus<\/em><em> of DeFi\u2019s biggest stories this week. Join us again next Friday for a round of fresh stories, developments and insights from the world of DeFi.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/finance-redefined-layer-two-growth-and-the-sec-s-scrutiny-sept-19-23\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Finance Redefined: Layer-two growth and the SEC\u2019s scrutiny, Sept. 19\u201323 &#8221; Welcome to the latest edition of Cointelegraph\u2019s decentralized finance, or DeFi, newsletter. In a week where DeFi\u2019s parabolic growth continued, elsewhere, the United States Securities and Exchange Commission Chair Gary Gensler threatened to tackle stablecoins. What you\u2019re about to read is the smaller&#8230;<\/p>\n","protected":false},"author":1,"featured_media":343884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvMmRkODk3ZDUtOTQyOS00MzViLTgxZDgtM2I3MTRmZmM1M2Y4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,75849,95119,74898,89215],"class_list":["post-343883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-etf","tag-layer2","tag-sec","tag-sushiswap"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/343883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=343883"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/343883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/343884"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=343883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=343883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=343883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}