Uniswap Labs, a decentralized exchange, has hired Hari Sevugan, a former senior spokesperson for Barack Obama, to help it navigate the turbulent waters of cryptocurrency regulations.
Uniswap is concentrating on communication with new hires
According to a Uniswap spokesperson, Sevugan was introduced to Unswap Labs through mutual tech connections. On October 14, Uniswap founder Hayden Adams brought him on board to lead the company’s public relations efforts. This includes managing Uniswap’s media relations and developing communications for new, existing, and prospective user bases.
In addition to serving on Obama’s 2008 campaign team, Sevugan has held senior positions for high-profile politicians and leaders. Sevugan is likely to work with lawmakers in the Biden administration to raise awareness of the Uniswap protocol and its DeFi ecosystem due to his close ties to the Democratic Party.
Uniswap Is Under Fire
The DeFi ecosystem and the crypto industry as a whole are experiencing intense regulatory turmoil. To demand stricter regulation of the emerging industry, US officials cite risks of money laundering and illegal activities such as drug trafficking and terrorism funding. Several other countries are also clamping down on cryptocurrency by imposing strict regulatory chokeholds. The US Securities and Exchange Commission (SEC) opened an investigation into Uniswap’s marketing and investor services in September. Before that, in July, Uniswap was forced to restrict access to more than 100 tokens on its DEx platform as a precautionary measure to cool the heat from the SEC and the CFTC.
Lobbying vs. Storytelling
Sevugan’s position at Uniswap could be interpreted as an unofficial lobbyist. Uniswap Labs and Sevugan, on the other hand, have refuted such assumptions, claiming that the hire was based on his storytelling abilities.
“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.”