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Gensler said such practices can implicate securities, commodities and banking laws, and called on Congress to ramp up its authority over the cryptocurrency industry, which he likened to the “Wild West.” Meanwhile, institutional investors have largely been warming up to the space: Goldman Sachs last month filed to create its own exchange-traded fund investing in DeFi.If you want to download the latest version of Eternium APK, then you must come to apkmody. The platforms largely sidestep traditional intermediaries like central banks and exchanges for financial services and instead rely on blockchains-and often their own cryptocurrencies-to process transactions. Less than a week before the Poly hack, SEC Chairman Gary Gensler said booming decentralized finance platforms, also known as DeFi, deserve more government scrutiny. The space shot past a $100 billion valuation for the first time ever this year and peaked at about $150 billion in May before the broader crypto market crashed nearly 50%. That’s the current market value of all decentralized finance tokens (like Polygon), according to cryptodata website CoinGecko.

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