{"id":602629,"date":"2024-04-11T08:30:26","date_gmt":"2024-04-11T08:30:26","guid":{"rendered":"https:\/\/wncen.com\/?p=602629"},"modified":"2024-04-11T07:25:18","modified_gmt":"2024-04-11T07:25:18","slug":"uniswap-bloodbath-uni-price-crashes-16-on-sec-lawsuit-fears","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/uniswap-bloodbath-uni-price-crashes-16-on-sec-lawsuit-fears\/","title":{"rendered":"Uniswap Bloodbath: UNI Price Crashes 16% On SEC Lawsuit Fears"},"content":{"rendered":"

The US Securities and Exchange Commission (SEC) has served a Wells Notice to Uniswap<\/a>, a leading decentralized exchange (DEX). This pre-enforcement notice, a precursor to potential legal action, triggered a plunge in Uniswap’s native token, UNI.<\/p>\n

At the time of writing, UNI was trading at $9.37, down 16.2% in the last 24 hours<\/a>, data from Coingecko shows. The crypto has also sustained a 15% loss in the last seven days.<\/p>\n

Uniswap Whales Seek Safer Shores<\/strong><\/h2>\n

The news of the SEC’s looming action acted as a fire alarm for Uniswap’s biggest investors. On-chain data analysts at Lookonchain reported significant market movements, with three large whales shedding a staggering 2.03 million UNI tokens \u2013 a cool $20 million vanishing from the Uniswap ecosystem within hours.<\/p>\n

Related Reading: Bitcoin Below $70,000: Is $80K Still Possible, Or Is The Rally Over?<\/a><\/div>\n

The wallets offloaded a combined 1.25 million UNI, potentially profiting by $3.5 million if they sold at current market prices. These tokens, interestingly, originated from a Binance transfer in March 2023, hinting at a potential strategy of holding on the exchange until the regulatory clouds cleared.<\/p>\n

\"\"UNI takes a dip in the last 24 hours. Source: Coingecko<\/a><\/pre>\n
Another whale liquidated over 472,000 UNI for a quick $4.6 million USDC payout, netting a cool $1.67 million in profit. The fire sale wasn’t limited to these three giants \u2013 six other whale-sized wallets collectively moved 316,400 UNI tokens to Binance, valued at roughly $3.15 million. This mass exodus of heavyweight investors exacerbated the downward spiral of UNI’s price, leaving retail investors scrambling to assess the situation.<\/p>\n
\n
whitzardflow.eth was liquidated 107,010 $UNI<\/a>($1M) 1 hour ago.<\/p>\n
He bought 262,045 $UNI<\/a>($3M) from Mar 1 to Mar 13 at $11.42 and deposited it into #Aave<\/a>, then borrowed $1.8M of stablecoins.<\/p>\n
Due to the decrease in $UNI<\/a> price, he was liquidated 107,010 $UNI<\/a>($1M) to repay the debt and\u2026 pic.twitter.com\/6mRg8sL3YE<\/a><\/p>\n
\u2014 Lookonchain (@lookonchain) April 11, 2024<\/a><\/p><\/blockquote>\n
Uniswap Founder Vows To Fight, DeFi Future Uncertain<\/strong><\/h2>\n
Uniswap founder Hayden Adams reacted swiftly and fiercely to the SEC’s move. In a fiery statement posted on the X platform, Adams condemned the SEC’s approach, accusing them of prioritizing opaque, legacy financial systems over the interests of consumers.<\/p>\n
\n
Today @Uniswap<\/a> Labs received a Wells notice from the SEC.<\/p>\n
I\u2019m not surprised. Just annoyed, disappointed, and ready to fight.<\/p>\n
I am confident that the products we offer are legal and that our work is on the right side of history. But it\u2019s been clear for a while that rather than\u2026<\/p>\n
\u2014 hayden.eth \ud83e\udd84 (@haydenzadams) April 10, 2024<\/a><\/p><\/blockquote>\n
He emphasized the need to defend Uniswap and the broader DeFi industry, underscoring the potential of decentralized finance to revolutionize financial inclusion.<\/p>\n
The Wells Notice marks the beginning of what could be a long and arduous legal battle. Adams acknowledged the possibility of a years-long fight, highlighting the immense stakes involved.<\/p>\n
The outcome of this clash, he argued, could significantly impact the future trajectory of DeFi and the entire cryptocurrency landscape.<\/p>\n
<\/p>\n
UNI market cap currently at $5.6 billion. Chart: TradingView.com<\/a><\/pre>\n
Related Reading: From Hat To Heights: Dogwifhat\u2019s $17 Crypto Leap Electrifies Investors<\/a><\/p>\n
Crypto Market Braces For Regulatory Storm<\/strong><\/h3>\n
Investors are now grappling with the specter of increased regulatory scrutiny for DEXs, a sector that has thrived on its permissionless nature. The uncertainty surrounding Uniswap’s legal status has cast a shadow over investor confidence, raising concerns about the potential devaluation of their holdings.<\/p>\n
Featured image from Knowledge at Wharton – University of Pennsylvania, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"
The US Securities and Exchange Commission (SEC) has served a Wells Notice to Uniswap, a leading decentralized exchange (DEX). This pre-enforcement notice, a precursor to potential legal action, triggered a plunge in Uniswap’s native token, UNI. At the time of writing, UNI was trading at $9.37, down 16.2% in the last 24 hours, data from Coingecko shows. The crypto has also sustained a 15% loss in the last seven days. Uniswap Whales Seek Safer Shores The news of the SEC’s looming action acted as a fire alarm for Uniswap’s biggest investors. On-chain data analysts at Lookonchain reported significant market movements, with three large whales shedding a staggering 2.03 million UNI tokens \u2013 a cool $20 million vanishing from the Uniswap ecosystem within hours. Related Reading: Bitcoin Below $70,000: Is $80K Still Possible, Or Is The Rally Over? The wallets offloaded a combined 1.25 million UNI, potentially profiting by $3.5 million if they sold at current market prices. These tokens, interestingly, originated from a Binance transfer in March 2023, hinting at a potential strategy of holding on the exchange until the regulatory clouds cleared. UNI takes a dip in the last 24 hours. Source: Coingecko Another whale liquidated over 472,000 UNI for a quick $4.6 million USDC payout, netting a cool $1.67 million in profit. The fire sale wasn’t limited to these three giants \u2013 six other whale-sized wallets collectively moved 316,400 UNI tokens to Binance, valued at roughly $3.15 million. This mass exodus of heavyweight investors exacerbated the downward spiral of UNI’s price, leaving retail investors scrambling to assess the situation. whitzardflow.eth was liquidated 107,010 $UNI($1M) 1 hour ago. He bought 262,045 $UNI($3M) from Mar 1 to Mar 13 at $11.42 and deposited it into #Aave, then borrowed $1.8M of stablecoins. Due to the decrease in $UNI price, he was liquidated 107,010 $UNI($1M) to repay the debt and\u2026 pic.twitter.com\/6mRg8sL3YE \u2014 Lookonchain (@lookonchain) April 11, 2024 Uniswap Founder Vows To Fight, DeFi Future Uncertain Uniswap founder Hayden Adams reacted swiftly and fiercely to the SEC’s move. In a fiery statement posted on the X platform, Adams condemned the SEC’s approach, accusing them of prioritizing opaque, legacy financial systems over the interests of consumers. Today @Uniswap Labs received a Wells notice from the SEC. I\u2019m not surprised. Just annoyed, disappointed, and ready to fight. I am confident that the products we offer are legal and that our work is on the right side of history. But it\u2019s been clear for a while that rather than\u2026 \u2014 hayden.eth \ud83e\udd84 (@haydenzadams) April 10, 2024 He emphasized the need to defend Uniswap and the broader DeFi industry, underscoring the potential of decentralized finance to revolutionize financial inclusion. The Wells Notice marks the beginning of what could be a long and arduous legal battle. Adams acknowledged the possibility of a years-long fight, highlighting the immense stakes involved. The outcome of this clash, he argued, could significantly impact the future trajectory of DeFi and the entire cryptocurrency landscape. UNI market cap currently at $5.6 billion. Chart: TradingView.com Related Reading: From Hat To Heights: Dogwifhat\u2019s $17 Crypto Leap Electrifies Investors Crypto Market Braces For Regulatory Storm Investors are now grappling with the specter of increased regulatory scrutiny for DEXs, a sector that has thrived on its permissionless nature. The uncertainty surrounding Uniswap’s legal status has cast a shadow over investor confidence, raising concerns about the potential devaluation of their holdings. Featured image from Knowledge at Wharton – University of Pennsylvania, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":602638,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6664,54512,3799,82849,80532],"class_list":["post-602629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-defi","tag-sec","tag-uni","tag-uniswap"],"acf":[],"yoast_head":"\nUniswap Price Crashes 16% On SEC Lawsuit Fears<\/title>\n<meta name=\"description\" content=\"The US Securities and Exchange Commission (SEC) has served a Wells Notice to Uniswap, a leading decentralized exchange (DEX). 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Uniswap Bloodbath: UNI Price Crashes 16% On SEC Lawsuit Fears","url":"http:\/\/wncen.com\/news\/uniswap-bloodbath-uni-price-crashes-16-on-sec-lawsuit-fears\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/uniswap-bloodbath-uni-price-crashes-16-on-sec-lawsuit-fears\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_fd5835.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_fd5835.jpg?fit=1024%2C440"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","defi","sec","uni","uniswap"],"dateCreated":"2024-04-11T08:30:26Z","datePublished":"2024-04-11T08:30:26Z","dateModified":"2024-04-11T08:30:26Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Uniswap Bloodbath: UNI Price Crashes 16% On SEC Lawsuit Fears\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/uniswap-bloodbath-uni-price-crashes-16-on-sec-lawsuit-fears\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/uniswap-bloodbath-uni-price-crashes-16-on-sec-lawsuit-fears\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_fd5835.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_fd5835.jpg?fit=1024%2C440\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"defi\",\"sec\",\"uni\",\"uniswap\"],\"dateCreated\":\"2024-04-11T08:30:26Z\",\"datePublished\":\"2024-04-11T08:30:26Z\",\"dateModified\":\"2024-04-11T08:30:26Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_fd5835.jpg?fit=1024%2C440","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/602629"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=602629"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/602629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/602638"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=602629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=602629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=602629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}