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What's going on, guys? It is Sunday, April 14th, and that means it's time for Long Read Sunday.

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slash breakdown pod. Hello, friends, back with an LRS this

week, and we are going to read a piece by Daniel Kuhn called the SEC's suit against Uniswap is an opening

attack against Defi. Daniel writes, while we don't know the nature of the potential charges,

the news raises the threat of legal jeopardy for decentralized finance.

So let's read the piece and then we will discuss it.

Uniswap Labs, the Brooklyn-based outfit primarily responsible for developing the protocol of the same name, reportedly received a Wells notice indicating the U.S. Securities and Exchange Commission

intends to sue.

While the D-Fi behemoth says it is, quote, ready to fight the SEC, indicating a willingness

to go to court, the move does represent the latest front in the SEC's years-long battle

with the crypto industry.

And to some extent, it is entirely predictable.

Before this, the SEC has filed suit against U.S.-based exchanges, Coinbase, and Cracken.

In fact, the reason the industry is so familiar with the term Wells notice is because

Coinbase received one in the months before the SEC's lawsuit dropped.

But the move is also a serious escalation in the SEC's anti-crypto legal barrage.

Uniswap said in a blog announcing the Wells Notice, quote,

...