- SEC closes Uniswap probe without charges Tthree-year investigation ends as agency shifts crypto policy under post-Gensler leadership.
- Adams criticizes SEC probe costs and founder states investigations drain funds and morale, calling process punishment without verdict.
The SEC terminated its three-year probe into Uniswap Labs, the developer of Ethereum’s largest decentralized exchange (DEX), without pursuing legal action.
Uniswap founder Hayden Adams disclosed the decision on June 15, aligning with recent SEC closures of cases against OpenSea and Robinhood.
The agency initially accused Uniswap Labs in 2024 of operating unregistered securities platforms but abandoned claims after leadership changes.
In April, the SEC issued a Wells notice claiming that Uniswap Labs operated as an unregistered broker, operated an exchange, and issued an unregistered security
As of yesterday, that investigation has officially been closed, and the SEC is taking no enforcement action
This is a…
— Uniswap Labs 🦄 (@Uniswap) February 25, 2025
Gary Gensler’s resignation as SEC chair in January 2025 preceded a policy pivot. Under interim leadership, the regulator established a crypto advisory group and dropped charges against Coinbase, pending commissioner review.
Adams criticized the probe’s duration and cost, stating on X that federal investigations “penalize through process alone.” He framed the outcome as reinforcing distinctions between decentralized, self-custodial protocols and centralized financial intermediaries.
UNI, the governance token tied to Uniswap’s platform, rose 5% to $8.28 immediately after the announcement but retreated to $8.11 within hours. The token remains 12% lower over seven days, reflecting broader market declines. ETHNews analysts note regulatory clarity has yet to offset macroeconomic headwinds affecting crypto valuations.
The SEC’s crypto task force, launched in March 2025, has held private meetings with firms like Circle and Kraken. Industry observers suggest these sessions aim to standardize compliance frameworks for decentralized finance (DeFi) platforms, though no formal guidelines have been published.
The current price of Uniswap (UNI) is $8.49 USD, reflecting a 1.78% increase in the past 24 hours. Over the past week, UNI has declined by 8.15%, indicating recent selling pressure. However, in the last month, UNI has gained 29.5%, showing a strong recovery, while its year-over-year growth stands at 21.0%, reinforcing its long-term strength.
Uniswap’s market capitalization currently stands at $5.08 billion USD, positioning it as the 32nd largest cryptocurrency by market cap. The 24-hour trading volume is approximately $564.75 million USD, reflecting active investor participation. The circulating supply is 600.48 million UNI, out of a maximum supply of 1 billion UNI, ensuring structured token distribution over time.
From a technical perspective, UNI has been fluctuating within a 24-hour range of $7.52 to $8.46 USD. The key support levels to watch are $8.00 and $7.50 USD, where buyers may step in to prevent further downside movement.
On the upside, resistance is found at $8.60 and $9.00 USD. If UNI successfully breaks above these resistance levels, it could attempt to reclaim the $10.00 psychological level, with further potential to reach higher highs in the mid-term.
