Coinspeaker
Uniswap (UNI) Plummets 15% after SEC’s Wells Notice

The decentralized (DEX) crypto exchange Uniswap vows to “fight” after receiving an enforcement notice from the US SEC (Securities and Exchange Commission).

Reacting to the SEC’s Wells notice on X, Uniswap CEO Hayden Adams noted:

“I’m not surprised. Just annoyed, disappointed, and ready to fight.”

The DEX’s native token UNI slumped immediately after the news and dropped below $10. Let us mention that a Wells notice informs persons or firms of likely enforcement actions. Even  Coinbase received a Wells notice before its ongoing lawsuit began.

Crypto Industry Supports Uniswap to Defend DeFi

Reacting to the notice, Uniwap Chief Legal Officer, Marvin Ammori, stated:

“The Uniswap Protocol, web app, and wallet don’t meet the legal definitions of securities exchange or broker.”

“Just weeks ago, the judge in SEC v. Coinbase dismissed the claim that crypto wallets were brokers – *ev...