A wallet that received 5.44 million Uniswap (UNI) tokens in 2020 sold 90,000 of them for $1.03 million during Friday's surge. Blockchain analytics firm Lookonchain suggests that the wallet may belong to an early Uniswap investor or team member. The wallet still holds 926,000 UNI tokens, worth $10.6 million, after selling almost 9% of its stash. Uniswap's governance proposal led to a surge in UNI's price on Friday, but it has since fallen by 19% to $10.40.
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Uniswap Wallet Sells $1 Million Worth of Tokens, Believed to be Early Investor or Team Member
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Uniswap ·
Fighting for DeFi
Today Uniswap Labs received a Wells notice from the Enforcement Division of the U.S. Securities and Exchange Commission (SEC), notifying us that they are planning to recommend a legal action against us. In the meantime, our entire suite of current products will continue to be available, and we will continue to ship new products. Taking into account the SEC's ongoing lawsuits against Coinbase and others as well as their complete unwillingness to provide clarity or a path to registration to those operating lawfully within the U.S., we can only conclude that this is the latest political effort to target even the best actors building technology on blockchains.
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