2024-04-26 15:04:21
- Uniswap’s strong defense indicates a possible win once morest SEC’s Notice Wells.
- The SEC’s sanctions raise concerns and highlight scrutiny of its approach to regulating crypto platforms.
As the cryptocurrency market sees a positive post-halving rally, all eyes are once once more on the Wells Alert issued by the SEC to Uniswap [UNI], which suggests imminent enforcement action. In a recent Unchained On the YouTube stream, several exes shared their unique perspectives on this development.
The interesting thing here is that this is not the first time the SEC has scrutinized crypto companies. In response, Uniswap has chosen to follow in the footsteps of Coinbase and Then [XRP]take a proactive stance to meet regulatory challenges.
A mutual benefit for Uniswap
Applauding the articulate defense of Uniswap, Robert Leshner, founder and CEO of Compound, said:
“I feel they are ready and willing to defend and fight to the death in a case that they have a very good chance of winning.”
Haseeb Qureshi, managing partner at Dragonfly Capital, said:
“It really seems like a huge miscalculation to choose Uniswap as a defendant here.”
Despite legal challenges, investors remain optimistic regarding Uniswap, reflected in Santiment data showing an increase in development activity over six months, suggesting positive growth.
While active addresses stabilized, long-term UNI holders remained hopeful.
Moreover, despite price declines, the average age in dollars invested increased, suggesting accumulation.
Echoing similar sentiments, Hayden Adamsnoted the CEO of Uniswap, in a separate interview with the “Bankless” podcast,
“The SEC is essentially taking very aggressive stances and basically trying to shut down cryptocurrencies.”
SEC’s abuse of power
Additionally, challenging the SEC’s approach to regulating crypto platforms, US District Judge Robert Shelby took a notable step by sanctioning the SEC in a lawsuit related to DEBT Box.
The judge pointed to several instances of what he described as “mala fairy” behavior, ultimately accusing the agency of “serious abuse of power.”
Leshner echoed the same, commenting:
“I feel like at this point most of what the SEC is doing when it comes to cryptocurrencies is defining its political perimeter. Good?”
Uniswap Price Action
Despite the challenges, UNI posted a modest gain of 0.37% in the last 24 hours, suggesting a possible bullish recovery. Further weekly data from CoinMarketCap showed an increase of 1.12%, indicating increasing investor optimism.
But since the exact details of the case are still unclear, there is still room for speculation. However, the outcome of this case will have important implications for the DeFi space.
This is an automatic translation of our English version.
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