what was the 0x zrx protocol 
the 0x zero x protocol enabled the peer to peer exchange of assets on the ethereum blockchain it was launched in 2017 by zeroex labs an organization based in san francisco the protocol itself was not by the developer s definition a decentralized exchange it allowed for the creation of decentralized exchanges that can be used in broad applications however the commodities and futures trading commission disagreed it shut down the 0x protocol in september 2023 for operating as an unregistered exchange and its developers were fined 200 000 the history of 0x zrx protocol0x was founded by will warren and amir bandeali in 2017 who launched an initial coin offering in 2017 the ico was a success raising 24 million and another 85 million between two fundraising rounds between 2021 and 2022 1the secondary protocol was created on ethereum to act as a settlement layer for trading erc 20 tokens erc 20 tokens are fungible exchangeable tokens that follow the standards set by ethereum request for comment 20 in 2021 0x launched the 0x decentralized autonomous organization dao the organization that would allow participants to govern the progress of the project 2but in september 2023 the commodities and futures trading commission filed and settled charges against zeroex inc along with two other digital asset exchanges opyn inc and deridex charges included failing to register as a futures commission merchant failing to register as a swap execution facility and illegally offering leveraged and margined retail commodity transactions 3zeroex was ordered to pay 200 000 in fines and cease operating as an exchange as of june 26 2024 the project community was very small and the 0x project s reddit page had been abandoned 45as of this writing 0x the zrx token had a market cap of 307 6 million and a 24 hour trading volume of 10 5 million it had a circulating supply of 847 5 million zrx 6