The Binance CEO shared his opinion on the Uniswap lawsuit judgement and predicted that Defi will surge by several fold in the future.
Changpeng Zhao (CZ) is the CEO & co-founder of the top popular crypto exchange Binance. CZ grabbed popularity globally in 2018 following the news of his position as the 3rd richest person in the crypto sector. In the present time, Binance is struggling badly in the US jurisdiction, as the top two American financial regulators sued BinanceUS, an independent American subsidiary of the Binance exchange.
On 1 Sep 2023, Binance CEO CZ went live via Twitter to discuss the Uniswap crypto exchange lawsuit.
Following the victory of the Uniswap exchange in the case, CZ said that the court ruling in the case was very positive & it showed that the financial regulators in the world (e.g. in Dubai, Japan, and Hong Kong) are now changing their landscape towards this innovative sector significantly.
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CZ also said that decentralised finance (Defi) will surge 10-fold over centralised finance (Cefi) in the future.
Live now.https://t.co/e4bVfhKwRB
— CZ
Binance (@cz_binance) September 1, 2023
Just a few days ago, Bloomberg reported that the Binance exchange is planning to list nearly 100 new crypto assets on the platform (nearly 3 times the total number of the crypto assets currently trading on the platform).
Uniswap lawsuit
In April 2022, Uniswap crypto trader Nessa Risley filed a lawsuit against the Uniswap crypto exchange over unsafe crypto assets listing procedure & also distributing Uniswap token (Uni) against the Securities Laws Act.
The plaintiffs said that unfair practices by the exchange led to nearly $10,400 worth of investment loss in crypto assets EthereumMax, Matrix Samurai, and Rocket Bunny crypto assets.
The court judge dismissed the case and said that Uni token distribution was not against the Securities Act.
The SDNY (Failla, J.) also explicitly found in its August 29 decision in Risely v. Uniswap that
Ethereum is a commodity, not a security.
No analysis of the issue, just the conclusion, but still, pretty definitive statement if you ask me.
— Bill Hughes : wchughes.eth
(@BillHughesDC) August 30, 2023
Read also: Robinhood shareholders feeling confident following 7.6% stakes buyback news
CZ believes Defi will be almost ten times the size of CeFi
https://bitcoinik.com/cz-believes-defi-will-be-almost-ten-times-the-size-of-cefi/feed/
https://bitcoinik.com/cz-believes-defi-will-be-almost-ten-times-the-size-of-cefi/feed/
