Despite being shitcoin casinos, Uniswap didn’t get nearly as much heat as the Jupiter/Moonshot/Meteora cabal, even Pumpfun caught less flak. The key difference: Uni/Pump are permissionless. No need for ‘whitelisting,’ ‘verification,’ ‘pro deployers,’ ‘team-assisted pool setups,’ or ‘coordinated launches.’ Rely on human coordination to get things started, and it’s no longer DeFi. Just a breeding ground for conflicts of interest and insider trading. Even the mother of all ‘Chinese walls’ won’t save you. It’ll end up as an unregulated CEX. Permissionless DeFi or a regulated CEX—there’s no middle ground."