The decentralized exchange Uniswap recently won a class action lawsuit in the Southern District of New York. The lawsuit sought to hold Uniswap, Paradigm, and other related parties responsible for losses incurred by users due to scams and Ponzi schemes. Judge Katherine Polk Failla ruled that there was insufficient evidence to prove that Uniswap developers should be held liable for misuse of their software. This ruling is a major win for DeFi participants and could be a sign of a turning tide for crypto service providers in the U.S. like Coinbase.
The SEC has been waging a securities campaign against Ripple’s XRP token and recently lost to Grayscale in court. The court of appeals ruled that the SEC’s denial of Grayscale’s proposal was arbitrary and capricious because the Commission failed to explain its different treatment of similar products. Coinbase Chief Legal Officer Paul Grewal commented that “the courts remain our last, best hope” in light of the news.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Roman Semenov, Katherine Polk Failla, Alexey Pertserv, Roman Storm, Brian Armstrong |
| Companies | Paradigm, Grayscale, SEC, Coinbase, Uniswap |
| Currencies | Ethereum, XRP, Bitcoin, goBTC, Uniswap |
| Securities | None |
