Ben Armstrong presses the Uniswap trademark holder to solve the issues.

Uniswap users can trade with BEN tokens through contract addresses.

The largest decentralized crypto exchange, Uniswap, prohibited the trading of various memecoins and derivative cryptocurrencies, despite the fact that users were unaware of it. It’s been more than three days since the exchange banned the new meme coin Ben (BEN), which buzzed “CryptoTwitter” with significant attention.

However, users can still connect to the token’s smart contract through their “contract address” for standard transactions. Only the DEX website interface (front end) prevents users from transacting.

Uniswap Ban on BEN

Many believe that Uniswap maintains this block list to avoid legal challenges in the United States. In particular, the Securities and Exchange Commission (SEC) has repeatedly pursued legal action against different cryptocurrency campaigns. It makes sense that the DEX has a strict ban on derivative tokens connected to the US stock market.

Ben Armstrong, who is behind the “BitBoy Crypto” channel and the biggest supporter of the BEN coin, indicates he may take over control from ben.eth, the project’s original creator. According to the famed YouTuber, Uniswap no longer allows users to trade BEN due to logo and ticker issues.

Further, the $BEN token is experiencing significant challenges; several projects have duplicated its logo, and Ben Armstrong revealed its new logo. Despite the crypto token spamming by many fake Twitter IDs, BEN never failed to attract huge investors.  

Also, the promotion of Ben Armstrong to BEN attracted a lot of interest in the crypto market. Early investors were also rewarded with a more than 5,000% one-day gain. However, the BEN community is fighting with Uniswap to solve the issues. Armstrong presses the trademark holder, “OUTFiT7,” to resolve the problems and back up the new logo instead of the placeholder.

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Filed under: Bitcoin - @ May 27, 2023 7:50 am