Decentralized exchange Uniswap Labs has hired Hari Sevugan, former senior spokesperson for Barack Obama, to help navigate the stormy waters of crypto regulations.
Uniswap Focusing On Communications With New Hire
According to a Uniswap spokesperson, Sevugan was introduced to Unswap Labs via mutual connections in the tech world. He was brought on board to the Uniswap team on October 14, by founder Hayden Adams to lead the company’s public communication efforts. This includes managing media affairs for Uniswap and working on communications for new, existing, and prospective user bases.
Besides being on Obama’s 2008 campaign team, Sevugan has also held other senior staff positions for multiple high-profile politicians and leaders. Because of his close ties to the Democrat party, Sevugan is likely to be working with lawmakers under the Biden administration to increase awareness for the Uniswap protocol and its DeFi ecosystem.
Commenting on his appointment, Sevugan said,
“I’m excited to join the brilliant team at Uniswap because they’re committed to making sure we build in a way that reaches crypto’s potential of giving more people ownership of their own financial futures and the value they create.”
Uniswap Faces The Heat
The DeFi ecosystem and the crypto industry as a whole are going through intense regulatory turmoil. US officials are claiming risks of money laundering and illegal activities like drug trafficking and terrorism funding to demand stricter regulation of the emerging industry. Multiple other countries are also cracking down on crypto by imposing tight regulatory chokeholds. In September, the US Securities and Exchange Commission (SEC) launched an investigation into Uniswap’s marketing and investor services. Prior to that, in July Uniswap was forced to limit access to over 100 tokens on its DEx platform as a precautionary measure to cool down the heat from the SEC and the Commodity Futures Trading Commission (CFTC)
Lobbying Or Storytelling?
Sevugan’s role at Uniswap could be interpreted to be one of an unofficial lobbyist. However, both Uniswap Labs and Sevugan have refuted such assumptions, claiming the hire to be based on his storytelling skills.
“Politics, when done right, is also about taking complex issues of policy and making them understandable to everyone so everyone feels a sense of ownership over those decisions. Crypto is opaque and intimidating to many outside of it. I want to help more people connect to it by making it more relatable and understandable.”