Uniswap receives Wells note from SEC: CEO ready to fight

Uniswap receives Wells note from SEC: CEO ready to fight

Uniswap CEO Hayden Adams recently revealed that the company faced the SEC's Wells notice. In response, he expressed his annoyance, disappointment and willingness to fight for Uniswap. During the press conference, Uniswap COO Mary-Catherine Lader and Chief Legal Officer Marvin Ammori informed the public about the allegations they had received that Uniswap was operating as an unregistered securities broker and unregistered securities exchange.

According to Ammori, Uniswap does not meet the SEC's criteria for an exchange, and he viewed the ruling in the SEC's case against Coinbase as positive for Uniswap. Adams also emphasized confidence in the legitimacy of Uniswap offerings and criticized the SEC for targeting reputable companies instead of clear rules.

In a blog post, Uniswap expressed its frustration with the Wells listing and emphasized that the tokens being offered should not be considered securities. The TOKENs that comprise UNI are of a different nature than securities and must not be classified in this category. Uniswap expressed concern about the unclear registration processes from the SEC.

Despite the legal uncertainties, Uniswap is showing robust performance in the markets. The current price of Uniswap (UNI) is $9.39 with a market cap of $5.62 billion. The sentiment for Uniswap's price prediction remains bullish, indicating a positive investor view. The probability of a total collapse of Uniswap is therefore rather low in the short to medium term.