Welcome to Finance Redefined, a newsletter that provides weekly updates on decentralized finance (DeFi) developments. The recent lawsuits by the US Securities and Exchange Commission (SEC) against centralized crypto exchanges Binance.US and Coinbase have resulted in a surge in DeFi trading volume. While the SEC's enforcement action against centralized exchanges has been widely reported, the regulator is also pursuing cases against the decentralized exchange (DEX) ecosystem. Crypto venture capital firm Paradigm has criticized the SEC's approach, arguing that DEXs are not securities exchanges. Additionally, a US district court has dismissed a lawsuit against DeFi protocol PoolTogether, which had raised $1.4 million through an NFT sale to fund its legal defense. Despite a bullish start to June, the DeFi market experienced a decline in the second week due to the SEC's enforcement action, with most of the top 100 DeFi tokens trading in the red and the total value locked falling below $50 billion. However, the median trading volume across the top three DEXs increased by 444% in the past 48 hours, as crypto investors turned to DeFi in response to the SEC's legal actions against centralized exchanges. Finally, at least $35 million worth of crypto has been stolen from Atomic Wallet users since June 2, according to an analysis by on-chain sleuth ZachXBT.