Uniswap Foundation's Wallet Worth Over $50 Million as It Releases Balance Sheet

Uniswap Foundation's Wallet Worth Over $50 Million as It Releases Balance Sheet

The Uniswap Foundation, the organization behind the decentralized cryptocurrency exchange Uniswap (UNI), has released its balance sheet, revealing that it holds $41.41 million in fiat currency and 730,000 UNI, currently valued at over $50 million. The balance sheet was released on the Foundation's website on August 19, 2022, and provides a detailed breakdown of the organization's assets and liabilities. As of June 30, 2022, the Foundation held $41.41 million in fiat currency, primarily in US dollars and euros, and 730,000 UNI tokens. At the current UNI price of approximately $70, the Foundation's UNI holdings are worth over $50 million. The release of the balance sheet comes at a time when the Uniswap community is voting on a proposal to compensate UNI stakers with fees. The proposal, which was put forward by the Uniswap Foundation, would allocate 20% of the protocol's fees to UNI stakers. The proposal is currently under discussion, and the community is expected to vote on it in the coming weeks. In addition to releasing its balance sheet, the Uniswap Foundation also announced that it has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). The Wells Notice is a formal notice that the SEC is considering taking enforcement action against the Foundation. The SEC has not yet specified the nature of the potential enforcement action, but it is likely related to the Foundation's sale of UNI tokens. The release of the balance sheet and the receipt of the Wells Notice are both significant developments for the Uniswap Foundation. The balance sheet provides a detailed look at the Foundation's financial health, while the Wells Notice raises questions about the Foundation's regulatory compliance. It remains to be seen how these developments will impact the Uniswap community and the future of the Uniswap protocol.