NY Attorney General Probes Uniswap Investors: Andreessen Horowitz, Union Square Ventures Subpoenaed
CryptoNewsTerminal Staff04 Sep, 2024
NY Attorney General Probes Uniswap Investors: Andreessen Horowitz, Union Square Ventures Subpoenaed
Uniswap Labs, a leading decentralized finance (DeFi) platform, is facing scrutiny from the New York Attorney General's Office (NYAG). The NYAG has reportedly subpoenaed several venture capital firms that have invested in Uniswap, including Andreessen Horowitz (a16z) and Union Square Ventures. According to sources close to the matter, the subpoenas are part of an investigation into Uniswap's operations and regulatory compliance. The NYAG is said to be examining whether Uniswap has engaged in any illegal or deceptive business practices. Uniswap Labs has responded to the investigation by stating that it is "ready to engage with our hometown regulators and elected officials on responsible DeFi innovation." However, some sources have criticized the NYAG's investigation, arguing that it is politically motivated and could stifle innovation in the DeFi sector. The investigation is still ongoing, and it is unclear what the outcome will be. However, it is a significant development that could have major implications for the DeFi industry.
