Uniswap Gets Wells Notice from SEC, UNI Token Drops 9.5% As Bitcoin Eyes Major Tailwinds from Halving and Hong Kong ETF Approvals

• Uniswap received a Wells notice from the SEC indicating potential enforcement action related to operating as an unregistered securities broker and exchange.

• Uniswap's native token UNI dropped 9.5% on the news. The notice did not directly implicate UNI as a security.

• Bitcoin's upcoming halving event in May could drive interest and bets on related blockchain networks and tokens.

• Hong Kong regulators are reportedly moving closer to approving bitcoin ETFs, which could open the door to major investments from Chinese investors.

• Despite bitcoin's 3% price rise in the last 24 hours, futures premiums remain under 20%, suggesting the latest upswing is spot-driven.