Uniswap Labs Appoints Katherine Minarik as New CLO
Katherine Minarik, a former legal executive at Coinbase, has been appointed as the Chief Legal Officer (CLO) for Uniswap Labs in potential readiness for the likely incoming legal confrontations with the U.S. Securities and Exchange Commission (SEC). Notably, Minarik replaced Marvin Ammori, former Uniswap CLO, who decided to leave office, following reasons which he stated in a post on X; “I made this decision to prioritize spending more time with my young family, while still working on hard, thorny problems of the future of Defi policy. I’m grateful to everyone at Uniswap Labs and looking forward to our next chapters together!” In addition, Ammori also reminisced about his stay in the company, announcing his transit to a part-time partner status come November and heralding Katherine Minarik as the new CLO, Uniswap Labs. Bittersweet news: I hand off the reins to a new Chief Legal Officer at @Uniswap this week. I’ll remain at Uniswap full-time through November during this transition and then move to a part-time role at the company, focused on global public policy for DeFi.In late 2020, Hayden… — Marvin Ammori (@ammori) June 10, 2024 Minarik’s Expresses Her Eagerness To Serve Minarik’s profile is intimidating, including her most recent four-year tenure as the Deputy General Counsel at Coinbase, which makes her a competent candidate for overseeing all the company’s legal issues and other related problems. Commenting on her recent appointment on X, she declared her eagerness to play her part in attaining the company’s goals: “It is impossible to spend time in crypto and not be inspired by the potential of DeFi to change the world. So I am humbled to take on this new role at Uniswap Labs, continuing another part of the fight for economic inclusion and the future of finance for all of us,” she stated on X. It is impossible to spend time in crypto and not be inspired by the potential of DeFi to change the world. So I am humbled to be taking on this new role at Uniswap Labs, continuing another part of the fight for economic inclusion and the future of finance for all of us. 3/x — Katherine Minarik (@MinarikLaw) June 10, 2024 Anticipations From Minarik Following Her Appointment Considering Minarik’s profile and enthusiasm to serve, it becomes relatively safe to say that Uniswap Labs made the best move in their choice of new CLO. As stated earlier, the SEC had cautioned Uniswap over alleged violations of multiple Federal Laws on virtual asset securities and several other regulatory compliance issues. Hence, it is expected that after she assumes office on June 10, her topmost priority will be representing the exchange against the SEC’s litigations.
Significant OKX Withdrawals: Are Security Breach Rumors Causing Users to Move Their Funds?
In a new development that has grabbed considerable attention among news publication platforms, some OKX exchange users were victims of a recent elaborate scam ploy that led to the loss of significant crypto assets. For context, hacking into user accounts through lapses in Short Message Service (SMS) security protection is a new trick gaining prominence and might explain the infiltration into these OKX users’ accounts. What Transpired? According to SlowMist, a blockchain security post on X, two OKX users reportedly fell victim to the hackers’ tricks on June 9’s morning. Both scams reportedly involved risk notifications via SMS sent from Hong Kong, prompting the users to create new Application Programming Interface (API) keys having updated trading and withdrawal permissions. The blockchain security outfit explained that it was a well-planned and coordinated breach, adding that the wallet addresses involved in both scams are being investigated, with promises of timely updates as events unfold. Notably, detailed information will remain confidential to preserve the privacy of the users involved. While investigations into the security breach progress, some people have speculated that the affected OKX users were victims of this crypto scammers’ ruse because they failed to activate their 2-factor authentication (2FA) security features, giving the hackers easy access to their crypto assets. OKX Management Team Reacts The exchange’s management team reacted to the unfortunate incident by contacting the affected users, assuring them that appropriate investigations would begin in earnest. Also, the management team noted that it is ready to accept full blame and responsibility for all of the crypto assets lost if investigation findings reveal that the loss was due to security lapses from the trading platform’s end. The team urged all OKX users to exercise patience while the investigations are still underway, avoid needless assumptions, and ensure to set up their 2FA and other security measures to protect their assets from the deceit of these ever-innovative crypto scammers. OKX Records Outflows While Other To Exchanges Registers Inflows While investigations about the party responsible for the security breach have proceeded, OKX has seen significant net outflow in its past 24-hour and 7-day statistics, implying that users might be doubting the exchange’s credibility. According to DefiLlama data, OKX recorded net outflows valued at about $499.2 million and $909.75 million, respectively, in its 24-hour and 7-day statistics. On the other hand, competitors like Binance, HTX, KuCoin Bitstamp Gate io, etc, all recorded net inflows.