This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.
The future is bright. Let's build.
so many of you will remember my reporting around "operation choke point 2.0" from the spring of 2023; TLDR, Biden's financial regulators, namely the Fed, FDIC, and OCC launched a crackdown on banks covering the crypto space...
If @joebiden loses, there is a good chance you will be able to thank @GaryGensler and the @NewYork_SEC
Crypto is a mainstay with younger and independent voters. Gensler HAS NOT PROTECTED A SINGLE INVESTOR AGAINST FRAUD
All he has done is make it nearly impossible for legitimate crypto companies to operate, killing who knows how many businesses and ruining who knows how many entrepreneurs.
This is also a warning to Congress. Crypto voters will be heard this election. You could solve this problem for Biden by passing legislation that defines registration that is specific to the crypto industry just as other industries have registration that is defined for them
Or you could do the better option and assign all crypto to be regulated by the @CFTC
They actually know what they are doing
@ericswalwell@SenSchumer
Today @Uniswap Labs received a Wells notice from the SEC.
I’m not surprised. Just annoyed, disappointed, and ready to fight.
I am confident that the products we offer are legal and that our work is on the right side of history. But it’s been clear for a while that rather than working to create clear, informed rules, the SEC has decided to focus on attacking long-time good actors like Uniswap and Coinbase. All while letting bad actors like FTX slip by.
When I first set out to build Uniswap, the goal wasn’t to reimagine finance.
It was an experiment in radically decentralized, fully automated onchain markets. I didn’t know if it would work or if anyone would use it.
Fast forward to today, the Uniswap Protocol has processed over $2 trillion in volume. Many thousands of teams and developers have forked our code or built on top of it. We built entirely new financial infrastructure that is transparent, fair, secure, and accessible powering an entire industry.
The team at @Uniswap did all of this in the US from our office in New York City.
People often ask me why we stay in the US and my answer is simple: I believe that blockchain is incredibly powerful technology. Like the Internet, it’s here to stay. So someone needs to figure it out, and it might as well be us.
And that when you build technology that improves people’s lives – you don’t need to hide.
The @SEC’s mission is “protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation.” This is a noble mission. I would argue @Uniswap does a far better job of this today than the SEC.
Yes, I'm frustrated that the SEC seems to be more concerned with protecting opaque systems than protecting consumers. And that we'll have to fight a US government agency to protect our company and our industry.
This fight will take years, may go all the way to the Supreme Court, and the future of financial technology and our industry hangs in the balance. If we stand together we can win.
I think freedom is worth fighting for. I think DeFi is worth fighting for.
And of course, we won’t stop shipping. Stay tuned
🦄💜
@JBSDC@sassal0x Not surprising. Younger voters are more pro crypto and feel the current system hasn’t done them any favors. See recent CA race between Dems Adam Schiff & Katie Porter - seemingly decided by their stance on crypto 🤷🏻♂️
Now for something surprising: crypto voters leaned to Biden in 2020 but now lean Trump.
Among crypto owners, 43% recall voting for Biden in 2020 and 39% recall voting for Trump. Now crypto owners support Trump 48-39.
In a close election, this swing could be decisive.
The Dencun upgrade is now live on the Ethereum mainnet bringing with it a host of EIPs including the beloved EIP-4844!
The blobs are here and a new era of Ethereum scalability has begun!
@wongisrite@DeFi_Dad@pendle_fi PT = discounted ETH that matures to full value. Eg: Deposit ETH and earn higher than normal return on ETH
YT = Earn staking rewards & leveraged claim on points for underlying LRT. Eg: Deposit eETH & forfeit token, but get all staking rewards & EtherFi + EigenLayer points