Standard Chartered Says Binance Security Reports Could Bolster Uniswap Case

Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, said reports of a potential security issue at Binance could push more crypto trading toward decentralized exchanges, strengthening his long-term case for Uniswap.

Kendrick maintained his $100 target for Uniswap (UNI) in 2030. He said the reports could increase decentralized exchanges’ share of trading relative to centralized exchanges.

Binance had not confirmed a breach or any impact to user funds. The exchange said it was reviewing information about reports of a potential security issue. Binance’s earlier response to the reports said it would provide updates through official channels once details were verified.

The $2.7 trillion projection comes from Standard Chartered’s earlier thesis that assets locked in decentralized finance could reach that level by 2030, with Uniswap serving as a venue for trading tokenized assets.

Kendrick also expects further market weakness in the near term. He said markets may not establish a new base until frozen assets are released and more details about the reports emerge.