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One of the largest holders of UNI tokens is questioning Uniswap’s decentralization and backroom deal-making, specifically, its claim of “efficiency” as justification for a suite of overhauls, and a possible undisclosed financial interest between Uniswap Labs and another blockchain, Optimism. The Head of Governance at Stanford Crypto, a delegate entrusted with UNI governance tokens from thousands of individuals, threaded a 22-post complaint about Uniswap’s sudden decision to launch its own blockchain, kill its proposed fee switch that might have benefitted holders of UNI, and bypass the ostensibly decentralized autonomous organization (DAO) that supposedly governs Uniswap. The hurried launch of Unichain “took many by surprise” and left “delegates in the dark,” wrote Billy Gao, who casts votes on behalf of his sizable delegation. He also noted that the decision “functionally mutated” the ERC-20 contract of UNI, which is “immutable...

The US Securities and Exchange Commission (SEC) has officially filed a lawsuit against the decentralized cryptocurrency exchange Uniswap. Indeed, the agency issued a Wells Notice to the company on Wednesday to notify the business of the impending legal action planned against it. The price of Uniswap’s UNI token has since dropped dramatically, falling 15% in the last 24 hours. In a response to the notice, Uniswap founder Hayden Adams said he was “not surprised, just disappointed” in a post to X (formerly Twitter). Moreover, Adams said that he was “ready to fight” while expressing his confidence in the legality of the DeFi platform, which has long been on the SEC’s radar. However, the fall of UNI is a letdown for holders, who will hope for a quick rebound while Uniswap fights the lawsuit. Source: Uniswap Also Read: Shiba Inu [SHIB] Mid-April Price Prediction In just one hour following the news of the lawsuit, UNI dropped 10% from $11.21 to $10. At press time, Unisw...

"NFTfi,” on-chain derivative platforms, decentralized stablecoins and Ethereum L2s are four investment opportunities being looked at closely by one crypto investment firm. Digital asset investment firms poured $2.7 billion into decentralized finance (DeFi) projects in 2022, up 190% from 2021 as investments into centralized finance (CeFi) projects went the other way — falling 73% to $4.3 billion over the same timeframe. The staggering rise in DeFi funding was despite overall crypto funding figures falling from $31.92 billion in 2021 to $18.25 billion in 2022 as the market shifted from bull to bear. According to a Mar. 1 report from CoinGecko, citing data from DeFiLlama, the figures “potentially points to DeFi as the new high growth area for the crypto industry.” It notes that the decrease in Funding towards CeFi could point to the sector “reaching a degree of saturation.” Funding amount by sector in the cryptocurrency market between 2018-2022. Source: CoinGecko. The near three-fol...