Christy Goldsmith Romero
Commissioner
U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
Christy Goldsmith Romero
Commissioner
U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
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Nikhilesh De is CoinDesk’s managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Christy Goldsmith Romero
Commissioner
U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
Christy Goldsmith Romero
Commissioner
U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
Sushi DAO and Head Chef Jared Grey were served with a subpoena by the U.S. Securities and Exchange Commission, the DAO revealed Tuesday.
Grey proposed creating a “Sushi DAO Legal Defense Fund” in a forum post, saying it would “cover legal costs for core contributors.” The proposal recommends making $3 million in USDT available for core contributors, with another $1 million worth of USDT available in case the initial $3 million are used up.
“We’re cooperating with the SEC. We do not intend to comment publicly on ongoing investigations or other legal matters,” the forum post said.
Under the proposal, the fund would pay for attorneys’ fees and other costs for any core contributors who have been part of the project since April 2022, when “Sushi 2.0” was ratified. The funds would be paid out until any legal proceedings are ended.
One of the initial comments on the forum post asked how the DAO known as Sushi was subpoenaed, with the user saying they did not receive it despite being a member of the DAO.
The Sushi token dropped by 5.5% on the news, and is currently changing hands at $1.156 after falling from a peak of $1.216.
UPDATE (March 21, 2023, 17:17 UTC): Adds additional detail.
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Nikhilesh De is CoinDesk’s managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.
Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Nikhilesh De is CoinDesk’s managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.
Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
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