$UNI Here’s why UNI plunged this morning
On November 2, the SEC’s Division of Corporation Finance added three new items (1.4–1.6) to its crypto asset FAQ, addressing a question many newcomers find confusing: Can “governance tokens” that people vote with be considered securities simply because they grant voting rights?
As soon as the SEC news came out, UNI got crushed. Basically, centralized tokens whose contracts can be altered can’t be considered securities. Hopes for a UNI ETF were completely dashed, and whales dumped their holdings and exited.
On November 2, the SEC’s Division of Corporation Finance added three new items (1.4–1.6) to its crypto asset FAQ, addressing a question many newcomers find confusing: Can “governance tokens” that people vote with be considered securities simply because they grant voting rights?
As soon as the SEC news came out, UNI got crushed. Basically, centralized tokens whose contracts can be altered can’t be considered securities. Hopes for a UNI ETF were completely dashed, and whales dumped their holdings and exited.
