Overview
- U.S. District Judge Katherine Polk Failla on March 2 threw out the second amended complaint, ending the case at the district-court level.
- The court said plaintiffs failed to plausibly allege actual knowledge of fraud, deceptive conduct under state laws, or unjust enrichment.
- Providing a permissionless marketplace did not constitute substantial assistance of fraud, with the opinion noting it “defies logic” to hold code authors liable for third-party misuse.
- The decision clears Uniswap Labs, CEO Hayden Adams, the Uniswap Foundation, and named venture-capital backers, as the scam token issuers remain unidentified.
- UNI rose roughly 5–6% after the ruling, as industry figures welcomed the precedent even as experts cautioned it does not confer blanket immunity or preclude future regulation.