Uniswap Labs rumored to be raising 100M in funding at a 1B valuation

TechCrunch has released information stating that the parent company of the Uniswap DEX, Uniswap Labs, is preparing for a new $100 million funding round to expand its offering. The tech news outlet could not cite sources for the information but claimed that “four sources familiar with the matter” have confirmed the report. Ethereum founder Vitalik Buterin also commented on the strength of the Uniswap platform, arguing that its value proposition allows for trades to be completed in 30 seconds. The comment was made about a post promoting the future popularity of app chains and the “inevitability of UNIchain.”. The UNI token is trading up 2.3% on the day following the news after being up 7.5% in early morning trading. The token is down 66% since the start of the year but down only 9% against Bitcoin over the same period.