Uniswap lawsuit over fraudulent token sales dismissed by federal judge

A federal judge in New York has dismissed a class-action lawsuit against Uniswap, ruling that the decentralized exchange was not liable for fraudulent token sales conducted on its platform. The decision has far-reaching implications for the DeFi sector and the application of existing securities laws.

Timeline of Uniswap

A judge for the Southern District of New York has tossed a lawsuit against decentralized crypto exchange (DEX) Uniswap. The lawsuit alleged that Uniswap enabled the trading of “scam tokens” that ultimately caused damages to unsuspecting investors.

In a landmark decision, Uniswap (CRYPTO: UNI), a leading decentralized finance (DeFi) platform, emerged victorious Wednesday in a legal battle in the United States District Court for the Southern District of New York. The case revolved around allegations that Uniswap violated certain provisions of the Securities Act.

Mike Wawszczak, a legal analyst recently took to the X platform to share that the Judge overseeing the case between the US Securities and Exchange Commission (SEC) and Coinbase has dismissed a class action lawsuit against Uniswap. The dismissal comes after an extended period of legal proceedings and debate over the nature of Uniswap's operations

Uniswap (UNI) price faces bearish headwinds as SEC lawsuit FUD surrounding Binance and Coinbase wanes and South K orean centralized exchanges emerge. The on-chain analysis examines how Uniswap price could react after a cohort of strategic whales were spotted buying the dip.

In the ever-evolving world of decentralized finance (DeFi), the recent announcement by LiFi, a multichain bridging protocol, has garnered significant attention. On August 17, Arjun Chand, the research lead at LiFi, unveiled a new multi-message aggregator tailored for decentralized autonomous organization (DAO) governance.

The strong selling pressure forced UNI to nosedive below the $6.2 and $6 levels. At the time of writing, UNI was trading at $5.84 and within a bullish order block on the daily timeframe

Uniswap (UNI) price dropped to a weekly low of $5.50 on Wednesday, bringing its August 2023 losses toward the 17% mark. As Uniswap flashes green signals, will it be sufficient to trigger an early price rebound?

Prominent decentralized exchange Uniswap has confirmed that it has fired a prominent developer over his involvement in a $25,000 memecoin rug pull. The developer in question, AzFlin, or Allen Lin, orchestrated a rug pull hours after initiating the deployment of the FrensTech meme coin.

The leading decentralized exchange, Uniswap found itself embroiled in a controversy that has rather surprised the crypto community. A developer associated with the exchange faced serious allegations of misconduct related to a memecoin project.

One factor that consistently mars the reputation of the crypto space is the act of "rug pulls." The latest to join the infamous list is the meme token FrensTech (FRENS), and its ties to a well-known name in the decentralized exchange world have left many in shock.