A secret investigation has been carried out by the Securities & Exchange Commission (SEC) of Uniswap which was aimed towards obtaining information about the persons running the affairs of the world’s biggest crypto trading platform.
A news report has surfaced in the local press in the US suggesting that SEC has carried out a secret investigation of Uniswap. The report also notes that the purpose of the investigation was to obtain information about who is the operator(s) of Uniswap.
Uniswap is the world’s renowned crypto trade firm when it comes to trading the highest number of crypto coins. For instance, in the past 7 days, the firm alone has transacted approximately US$ 10 Billion worth of crypto. It is currently the best crypto platform known for having the highest trade volume against the top 10 ranked global cryptocurrency trading platforms.
The story was published in a journal called “Wall Street Journal” and the authors of the story were Alexander Osipovich and Dave Michaels. The authors collectively claim that Uniswap, which is the decentralized exchange, has been secretly investigated by SEC. The investigation was carried out unofficially by senior attorneys of the authority. However, later on, when Uniswap came to know about the investigation, it responded publicly through its representative.
Uniswap’s representative said that the company has always taken pride in the fulfillment of its fiduciary duty towards the regulator. He reiterated that the firm is at all times willing and ready to ensure its commitment towards compliance of the regulator’s policies. He also said that the company would appreciate if it could be of any assistance to the regulator if the authority wishes to initiate a proper inquiry.
It was also rumored that the enforcement officials within the SEC wanted to know how Uniswap conducts its business. In addition, how the marketing is done and what exactly is the business model of Uniswap being a decentralized crypto exchange. Most importantly, SEC was interested to know who the physical persons were running the affairs of the company like its main operators. However, there are no allegations against Uniswap which have been officially raised by SEC. Nor there is any official warning or even a letter from SEC calling upon Uniswap to give clarity on any particular issue.
For the time being, Uniswap has been capturing most of the crypto trade business. For the past many months, the crypto trade volume of Uniswap has almost doubled. Because of this, Uniswap is emerging constantly as the biggest crypto trading platform. For example, last week, there were crypto a total of US$ 16 Billion worth of crypto transactions. Out of this 16 Billion, more than 10 Billion dollar business was done from the Uniswap’s platform. This outclass performance of Uniswap also made its way in the stat charts of Dune Analytics.