On March 2, 2026, the U.S. District Court for the Southern District of New York struck down another attempt by users of the decentralized crypto exchange, Uniswap Labs, to pin fraud by token issuers on the platform enabling the tokens’ trading. The decision in Risley v. Uniswap, No. 22-cv-02780, 2026 WL 572065, came on remand after the U.S. Court of Appeals for the Second Circuit affirmed dismissal of Plaintiffs’ federal securities law claims, holding that “it defies logic that a drafter of a smart contract, a computer code, could be held liable under the Exchange Act for a third-party user’s misuse of the platform.” Risley v. Universal Navigation Inc., No. 23-1340-CV, 2025 WL 615185, at *4 (2d Cir. Feb. 26, 2025) (internal…