A16z and other venture capital firms reportedly received SEC letters due to their relationship with

According to Axios citing multiple sources, several venture capital funds, including Andreessen Horowitz (a16z) and Union Square Ventures, have received letters from the US Securities and Exchange Commission (SEC) regarding their relationship with decentralized cryptocurrency exchange operator Uniswap Labs.

According to reports, regulatory authorities may accuse Uniswap of being an unregistered exchange. In April of this year, Uniswap disclosed that it had received a "Wells notice" from the SEC, indicating that the SEC had completed its investigation and would take legal action against it. Uniswap stated at the time that it would confront the SEC to the end.

Uniswap Labs has raised over $170 million in funding from startup investments, most recently at the end of 2022 when it was valued at nearly $1.7 billion.