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?