Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Thursday, August 31st, and today we are talking about the big

decision in the Uniswap lawsuit. Before we get into that, however, if you are enjoying the breakdown,

please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into

the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go

to bit.ly slash

breakdown pod. Well, friends, another day, another good court result for the crypto industry.

Anthony Sasano tweeted, the SEC in losing in court, name a more iconic duo.

Now, what he was referring to is a class action lawsuit against Uniswap that has been dismissed.

This case was filed in April of last year by a group of plaintiffs who claimed that they lost

money due to scam tokens being listed on the decentralized exchange.

Uniswap Labs, its CEO, the Foundation and VC backers were all listed as defendants who

were claimed to be liable for those

losses. The argument made by plaintiffs was that Uniswap had a degree of control over liquidity

pools on the protocol. They demanded rescission of the contracts entered into to purchase the

scam contracts, as well as compensation under the Securities Act of 1933 and the Securities Exchange

Act of 1934. Plaintiffs supported their claims by arguing

that Uniswap held control over, quote, liquidity provider funds and newly created tokens

in Uniswops' proprietary core contracts. Essentially, they argued that Uniswap had control over

assets deposited in smart contracts on the platform. They supported their claims by arguing

that Uniswap used routers under

...