DeFi under attack!

Who cares you say?  Well, the shit you do care about is next.  So root for the underdog.

--Uniswap got hit with a Wells Notice
--SEC claims it's an unregistered securities exchange and the Uniswap interface is an unregistered securities broker-dealer
--SEC claims UNI is an investment contract

Uniswap responds this is false.  Direct Quote:
"These assertions assume that value represented in a specific digital file format is a security – and that the SEC can unilaterally extend the definitions of exchanges, brokers and contracts to the point of meaninglessness. A token is a file format, like a PDF. The Protocol is a general purpose computer program that anyone can use and integrate, like TCP/IP. And the hundreds of thousands of users who received UNI tokens for their participation in the protocol’s early days received the token for free, with no contract, and without expectations of profit solely from the efforts of Uniswap Labs."

They are fighting it in court with:
--The lawyer who won the Ripple case
--2nd Different lawyer who won the Grayscale case

The gloves are off!  What do you think will happen?

Source: https://blog.uniswap.org/the-fight-for-defi-continues 

 this why decentralization matters. These shitcoins are just companies running a racket 

Was inevitable. 

 I do agree that Uniswap running on their lone government domain was a huge centralized mistake.

I disagree we should root for the SEC right now, because of the effects for freedom in general 

 bitcoin maxis want a monopoly on freedom and will happily accept it from anyone 

 I don't think anyone knows what the implications are if Uniswap loses their case. 

 Same goes for #monero

If you can see why privacy and anonymity are important, and you would like to see that on Bitcoin one day, consider giving your attention to the shenanigans surrounding Monero and so-called "privacy coins" in general.

We're lost if not enough people can understand why the government is going hard against privacy and not enough people realize something has to be done.

Normalize #privacy in every way you can. Privacy is not a crime, and tyrants can go fuck themselves.

 

 Scams under attack! So sad. 

 Uniswap is a scam as far as full decentralization goes yes.  It's also not required to have their coin, so that's also sort of scammy.... but they didn't actually steal funds.  The product worked.  And they did innovate.  So give credit where it's due