Uniswap Labs received a Wells notice from the Securities and Exchange Commission warning the company that the regulator intends to pursue legal action. The company argues that tokens are not securities and that most tokens traded on the protocol are not investment contracts. Recently, there have been discussions about turning on the fee switch for the UNI token. However, this has not been implemented, and Uniswap Labs insists that UNI does not fit the definition of a security since there is no investment contract between the company and token holders.
Thursday, April 11, 2024The U.S. Department of Justice has arrested Anton and James Pepaire-Bueno, charging them with using a maximal extractable value (MEV) exploit to illicitly obtain $25 million from Ethereum blockchain transactions in just 12 seconds. This unprecedented scheme involved manipulating pending transactions to redirect funds, a significant manipulation of blockchain technology.
The US Olympic and Paralympic Committee is suing Prime Hydration for allegedly using trademarked phrases and symbols without authorization. The drink, made in collaboration with Olympic gold medalist Kevin Durant, has a packaging design that the USOPC claims can confuse consumers. Prime continued its distribution despite a cease request on 10 July, leading to escalated legal action to prevent further trademark infringement.