COINDESK DAILY: Uniswap Receives Wells Notice From the SEC; State of Crypto Regulation in Dubai

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4.8 • 689 Ratings

🗓️ 11 April 2024

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

Host Jennifer Sanasie breaks down the latest news in the crypto industry from Uniswap receiving a wells notice from the SEC to the state of crypto regulation in Dubai.

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"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as decentralized crypto exchange Uniswap received an enforcement notice from the U.S. Securities and Exchange Commission (SEC). Plus, Grayscale’s bitcoin ETF saw a record-low daily outflow of $18 million and Dubai's virtual assets regulator looks for ways to reduce compliance costs for small crypto firms.

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This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.

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Transcript

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0:51.4	Defy Exchange Uniswap has received an enforcement notice from the SEC CEO Hayden Adams took to X on Wednesday to say the exchange is ready to fight after receiving notice that the regulator is planning an enforcement action.
1:05.9	Uniswap's native token, Uni, dropped 9.5% immediately after the news. As of 9.30 a.m. Eastern time,
1:13.0	Uni was at $9.30. Adam said he wasn't surprised on X. He said he was just annoyed, disappointed,
1:21.2	and, as I said before, ready to fight. Wealth notices are preliminary warnings that inform
1:26.1	respondents of the charges the regulator is considering bringing against them.
1:30.7	They usually lead to enforcement actions in a press conference Uniswap CEO and chief legal officer told reporters that the content of the Wells notice was focused on un-swap acting as an unregistered securities broker and unregistered securities exchange.
1:46.6	Grayscales Bitcoin ETF logged around $18 million in outflows on Wednesday,
1:51.2	a record low figure since it went live in January, according to X posts by Bitmex Research and Farside investors.
1:58.4	The figures come a day after Grayscale CEO Michael Sondenshine said he sees the outflows as
2:03.3	reaching an equilibrium, a selling activity connected to settlements of bankrupt crypto companies
2:08.0	like FTX was largely behind us.
2:10.2	The GBT product has hemorrhage nearly $15 billion in Bitcoin outflows since going live
	...

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