UNI drops 10% after receiving this warning from the SEC!
Uniswap Labs (the organization that develops the Uniswap DEX exchange) received a "Wells Notice" from the US Securities and Exchange Commission (SEC) on April 10.
This is the official announcement that the SEC intends to bring charges against Uniswap.
This move comes in the context that the US government is tightening management of the decentralized finance (DeFi) sector, which SEC Chairman Gary Gensler called the "Wild West" - a mixed area. chaos and lack of law.
Hayden Adams (founder of Uniswap) said in a post on X (Twitter): "It is clear that the SEC has focused on attacking long-standing names in the Crypto market like Uniswap and Coinbase, instead of building clear rules & information."
Hayden added: "I'm not surprised. Just a little upset, disappointed and willing to fight the charges."
đŻÂ According to data from CoinGecko, Uniswap is the largest DEX by daily trading volume, accounting for 22.5% of the DEX market share. After the above news broke out, UNI price immediately decreased by nearly 10%, currently trading around 10.1 USD.
