Uniswap Launches Android Wallet Beta For Google Play, Former CEO Pleads Guilty To ‘Cherry Picking’ Crypto Futures

Here are some of the major developments from the world of crypto over the past few days
Uniswap Launches Android Wallet Beta For Google Play, Former CEO Pleads Guilty To ‘Cherry Picking’ Crypto Futures
Uniswap Launches Android Wallet Beta For Google Play, Former CEO Pleads Guilty To ‘Cherry Picking’ Crypto Futures

Uniswap, the world’s largest decentralised crypto exchange, has launched a closed beta Android version of its mobile app, thus paving the way for a Google Play Store launch once testing is complete.  

The app, which has processed over $1.7 trillion worth of trades since its inception, allows users to select coins on different chains without switching networks. The app automatically detects the network a coin is on and switches to that network without the user prompting it.  

Uniswap’s wallet can be used on Polygon, Arbitrum, Optimism, Base, and BNB Chains, with more chain compatibility planned.  

The wallet also routes Ethereum transactions through a private pool to avoid front-running and sandwich attacks, although this feature can be turned off if preferred. In addition, the app also automatically detects most coins with built-in transfer fees, which are displayed in the interface, thus making users aware of them.

The latest announcement is linked to a sign up for an email waitlist, which Uniswap said would be used to roll out copies of the app to early adopters. The team also plans to release the app’s open-source code in the coming weeks, as part of its security audit with Trail of Bits.

Incidentally, Uniswap is not the only decentralised exchange to offer a mobile wallet. In 2021, 1inch launched a mobile wallet for iOS, and an Android version of it was published in October.

Former CEO Pleads Guilty To ‘Cherry Picking’ Crypto Futures

The former CEO of Systematic Alpha Management, a Miami-based investment firm, is now facing up to five years in prison for his role in a fraudulent scheme tied to crypto futures contracts.

The US Department of Justice said in a statement on October 12, 2023 that Peter Kambolin, the former CEO of Systematic Alpha Management, ran a “cherry picking” scheme in which he falsely claimed to be providing algorithmic trading strategies involving futures contracts, which included commodities and cryptocurrencies.

But Kambolin lied to investors that his fund traded foreign exchange and cryptocurrency futures, when in fact Kambolin traded equities index futures contracts for almost half of each pool.

“In doing so, Kambolin defrauded investors located in the United States and abroad by, among other things, depriving them of profitable trades,” the prosecutors said.

Trader Joe’s Grocery Store Files Trademark Lawsuit Namesake DEX

Attorneys for Trader Joe’s, a network of supermarkets in the US, have filed a lawsuit against the decentralised exchange Trader Joe DEX in a court in California.

Trader Joe’s filed a lawsuit against Trader Joe DEX and its co-founder Cheng Chieh Liu in the US District Court for the Central District of California, alleging dilution and federal trademark infringement. It said that Trader Joe DEX is allegedly capitalising on the store’s “name, goodwill, and brand recognition.”

The lawsuit claims that Trader Joe and Liu appropriated numerous concepts from the supermarket, including “donning a red cap” (red being a significant colour in the store’s identity) and using its story for one of the platform’s made-up characters.

The defendants knew that the truth would destroy their case and any realistic claim of ownership, so they committed deception to hide that genesis story and win over Trader Joe's in international court cases involving the domain name, the court filing said.

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