Binance’s CEO shared his thoughts on the Uniswap lawsuit verdict and predicted that Defi will rise several more times in the future.
Changpeng Zhao (CZ) is the CEO and co-founder of the most popular crypto exchange Binance. CZ gained global popularity in 2018 following the news of his position as the third richest person in the crypto sector. Currently, Binance is having a rough time in US jurisdiction as the two largest US financial regulators have sued BinanceUS, an independent US subsidiary of the Binance exchange.
On September 1, 2023, Binance CEO CZ went live via Twitter to discuss the Uniswap crypto exchange lawsuit.
Following the Uniswap exchange’s victory in the case, CZ said the court ruling in the case was very positive and showed that the world’s financial regulators (e.g. in Dubai, Japan and Hong Kong) are now adjusting their landscape changing direction towards this innovative sector are significant.
CZ also said that decentralized finance (Defi) will increase 10-fold over centralized finance (Cefi) in the future.
Just a few days ago, Bloomberg reported that the Binance exchange plans to list nearly 100 new crypto assets on the platform (nearly three times the total number of crypto assets currently traded on the platform).
Uniswap lawsuit
In April 2022, Uniswap crypto trader Nessa Risley filed a lawsuit against the Uniswap crypto exchange for its insecure crypto asset listing procedure and also distributing Uniswap token (Uni) in violation of the Securities Laws Act.
The plaintiffs said the exchange’s unfair practices led to nearly $10,400 in investment losses in crypto assets EthereumMax, Matrix Samurai, and Rocket Bunny crypto assets.
The district court judge dismissed the case, saying that the distribution of Uni tokens did not violate the Securities Act.
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