Uniswap's UNI Token Price Dips After SEC Wells Notice Raises Regulatory Concerns

Uniswap's UNI token price dropped 9-11% after news that SEC sent enforcement notice to Uniswap Labs
Uniswap is a decentralized crypto exchange allowing token swaps without a centralized intermediary
SEC sent a Wells notice to Uniswap Labs, indicating it intends enforcement action against the company
Uniswap Labs executives expressed confidence its products are legal, but acknowledged ongoing issues with SEC
Uniswap is the largest decentralized exchange with $1.4 billion in 24h trading volume