The crypto world dodged a bullet this week when a New York federal judge shot down claims that the Uniswap should compensate those who got fleeced buying scam tokens on the decentralized platform. The judge not only got the reasoning right but issued an opinion that shows a remarkable level of sophistication when it comes to crypto.
In her 51-page decision, Judge Katherine Polk Failla shows she is fluent in decentralized finance, writing confidently about smart contracts, liquidity pools, pump-and-dumps, rug pulls and more—remarkable given that five years ago courts were struggling to explain what a blockchain was. More important, Failla also chose correctly among two competing vehicle metaphors.
