Uniswap vows to contest SEC’s legal threat

In other news, data from Arkham, a crypto intelligence platform, reveals that the United States government is one of the biggest cryptocurrency holders among global states, alongside the United Kingdom and Germany. The U.S. government holds the most Bitcoin (BTC), with a staggering 212,847 BTC worth approximately $15 billion at current prices.

Meanwhile, Sam Bankman-Fried, the disgraced ex-CEO of FTX who was recently sentenced to 25 years in prison, has requested to remain at the Metropolitan Detention Center in Brooklyn, New York. The request aims to provide him with reasonable access to his appellate counsel as he prepares for his anticipated appeal, with his defense attorney vowing to challenge the conviction.

• Uniswap vows to contest SEC’s legal threat
• US gov’t among states with largest Bitcoin holdings
• Sam Bankman-Fried requests to stay in Brooklyn jail to access appeal counsel

Data powered by CoinGecko.

Uniswap vows to contest SEC’s legal threat

The SEC has issued a Wells notice to Uniswap Labs, signaling potential enforcement action against the company behind the leading DEX. Uniswap’s founder, Hayden Adam, has responded defiantly, expressing confidence in the legality and benefits of their products and accusing the SEC of targeting good actors while neglecting bad ones. Adam has called on the community to stand together and fight for the future of DeFi, arguing that Uniswap better protects investors and facilitates fair markets than the SEC currently does.

The news of the SEC’s action has had an immediate impact on Uniswap’s UNI token, causing its price to plummet by nearly 11%…