US Securities and Exchange Commission Subpoenas Sushi Swap and CEO Jared Grey
According to reports, the US Securities and Exchange Commission recently issued a subpoena to Sushi and the new CEO of Sushi Swap, Jared Grey. Grey asked Sushi DAO to fund a USDT l
According to reports, the US Securities and Exchange Commission recently issued a subpoena to Sushi and the new CEO of Sushi Swap, Jared Grey. Grey asked Sushi DAO to fund a USDT legal defense fund of $3 million to cover expenses related to the SEC investigation. Sushi sought to establish a legal entity last year to reduce the responsibilities of contributors and DAOs.
The US SEC has issued a subpoena to Sushi Swap and its CEO
Introduction
Recently, there have been reports surfacing that the US Securities and Exchange Commission (SEC) has issued a subpoena to Sushi Swap, as well as its new CEO, Jared Grey. Grey asked Sushi DAO to fund a USDT legal defense fund of $3 million to cover expenses related to the SEC investigation. This has caused a stir in the cryptocurrency community, and many are wondering what exactly is going on.
Background
Sushi Swap is a decentralized cryptocurrency exchange, launched in August 2020 as a fork of Uniswap. It quickly gained popularity in the DeFi (decentralized finance) space, and as of August 2021, had a total value locked (TVL) of over $4 billion.
However, like many other projects in the cryptocurrency space, Sushi Swap has faced some regulatory hurdles. The SEC has been cracking down on cryptocurrencies and related projects, and it seems that Sushi Swap is the latest target of their investigations.
The SEC Subpoena
So, what exactly does the SEC subpoena entail? According to reports, the subpoena requests information related to Sushi Swap, its operations, and Grey’s involvement in the project.
This news has understandably caused concern among Sushi Swap investors and users. The SEC has the power to shut down projects and even seize assets, so the stakes are high.
Sushi DAO Legal Defense Fund
In response to the SEC subpoena, Grey asked Sushi DAO to fund a USDT legal defense fund of $3 million. This money would be used to cover legal expenses related to the SEC investigation.
It’s worth noting that Sushi DAO is a decentralized autonomous organization (DAO) that governs the Sushi Swap project. As such, there is likely to be some debate within the community about whether or not to fund a legal defense.
Establishing a Legal Entity
Interestingly, Sushi Swap sought to establish a legal entity last year to reduce the responsibilities of contributors and DAOs. This move was in response to a lack of legal clarity around DAOs and decentralized projects in general.
It’s unclear if the establishment of a legal entity will have any impact on the SEC investigation. However, it’s worth keeping an eye on this space to see if other decentralized projects follow suit.
Conclusion
The SEC subpoena of Sushi Swap and CEO Jared Grey has caused concern and uncertainty in the cryptocurrency space. It remains to be seen what the outcome of the investigation will be, but in the meantime, Sushi DAO is faced with a decision about whether or not to fund a legal defense.
FAQs
**Q:** What is Sushi Swap?
**A:** Sushi Swap is a decentralized cryptocurrency exchange, launched in August 2020 as a fork of Uniswap.
**Q:** What is a decentralized autonomous organization (DAO)?
**A:** A DAO is an organization that operates based on a set of rules encoded as computer programs on a blockchain.
**Q:** Why is the SEC investigating Sushi Swap?
**A:** The SEC has been cracking down on cryptocurrencies and related projects, and Sushi Swap is the latest target of their investigations.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/10196/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
The official committee of Celsius unsecured creditors appealed Judge Glenn’s decision to support preferred stock holders in client claims
On April 1st, the Official Committee of Unsecured Creditors of Celsius (UCC) stated that it had appealed against Judge Glenn\’s decision to support preferred stock holders in client
-
Bitcoin and Ethereum as Safe Haven Assets According to Ark Invest CEO Cathie Wood
According to reports, Ark Invest CEO Cathie Wood recently stated that Bitcoin and Ethereum play a role as risk-free assets and are a \”safe place\” for investors to face macroeconomi
-
Nansen’s Data Reveals Sanjian Capital’s NFT Portfolio Estimated at US $10.3 Million
It is reported that the data disclosed by the blockchain analysis company Nansen shows that the estimated sales price of the NFT of Sanjian Capital (3AC) is 62…
-
PaxosTreasury Destroys 97858390 BUSDs: A Move Towards Centralizing Cryptocurrency?
According to reports, Whale Alert monitoring data showed that 97858390 BUSDs were destroyed by PaxosTreasury at 12:38 on February 24, 2023, Beijing time.
<… -
Bitcoin Long Positions Cleared at Record Levels
On March 3, according to Glassnode data, more than $62 million of Bitcoin long positions were cleared this morning, hitting the highest level since August 2022…
-
The Decrease in “Blue Chip” NFT Series Flooring Prices
On April 17th, it was reported that several \”blue chip\” NFT series flooring prices experienced a general decline: the cool cat non homogeneous token series flooring prices fell to
-
What can be found by blockchain ID (Can blockchain transaction ID be traced back to scams)?
What can be found by blockchain ID? It mainly includes registration, authenticat
-
DeFi Lending Agreement, Euler Finance Recovers Stolen Funds in a Successful Negotiation
According to reports, the DeFi lending agreement Euler Finance tweeted that negotiations have been successful. All recoverable funds stolen from the agreement on March 13th have no
-
Understanding the Surge in ETH 2.0 Pledges: An Overview
It is reported that the total number of pledges of ETH 2.0 has exceeded 17.9728 million, which is 17972763. According to the current market price, the value is about 37.590 billion
-
MetaUniverse Industry Conference to Focus on ChatGPT Relationship
It is reported that from February 15 to 17, the 2023 spring meeting of the MetaUniverse Industry Conference will be held in Kunshan, Jiangsu Province. The conf…
-
Second Largest Airdrop Address of BLUR Receives 2.975 Million Tokens
According to reports, PeckShieldAlert monitoring showed that the second largest airdrop address of BLUR received 2.975 million BLUR tokens. Up to now, nearly h…
-
When will Bitcoin disappear (when will Bitcoin return to normal)
When will Bitcoin disappear? According to CCN, when will Bitcoin disappear? On October 13, 2013, less than two years after Satoshi Nakamoto invented the first Cryptocurrency, the price of Bitcoin fell below $10000. Subsequently, with the popularization of the internet and the increasing number of transactions and users joining this system, the price of Bitcoin experienced significant fluctuations. However, there has been no similar situation since 2010, and it was not until the end of 2012 that Bitcoin began to gradually disappear. At the beginning of 2017, Bitcoin was just a virtual asset, but after experiencing some ups and downs, it was ultimately considered “digital gold” by people When will Bitcoin return to normal? After falling below $36000 last Sunday, Bitcoin began to return to normal. According to CoinDesk data, as of 10am on November 1st (9am Eastern Time), BTC prices have rebounded above $48000, but there have been no significant fluctuations, which means that the digital asset may experience…
-
What does CooIn mean
What does image=CooIn mean? Imgalt=CooIn means images} What does CooIn mean in the blockchain industry? What does CooIn mean? What concepts and specific application scenarios does it contain. For example, the enterprise payment business can complete cross-border remittance directly through Cobo, but needs to use Alipay or WeChat for transactions In addition, due to the current downturn in the digital currency market, many companies are unable to keep up with the pace in a timely manner, resulting in some “counterfeit” issues. Behind these counterfeit coins is a centralized platform, essentially a decentralized network without intermediaries or third-party participants For ordinary users, this new type of network is difficult to meet their daily work and life needs, as it can cause significant cost waste. But for Xiaobai, such a system is easily attacked and hacked into and destroyed. If this problem is not solved, they will be in danger in the capital chain, leading to a model called “manipulation” that allows…
-
Bitcoin Price Trend in 2016 (How Much Was Bitcoin Worth in 2016?)
What was the price trend of Bitcoin in 2016? After experiencing two historic bul
-
What power supply is used for mining graphics cards (mining graphics cards)
What power source is used for graphics card mining? According to the official announcement, on August 16, 2018, what power source was used for graphics card mining? The following options can be chosen: (1) Adopting the dedicated integrated circuit architecture of TSMC A3 series; (2) A new generation of M25Pro produced by Nvidia M30S series special chipset and M15sPro driver (M20T+M21G), AMDRTX3060 and Core Motion Technology (3) Divided into two parts according to power ratio: a single computer consumes 5W/kWh, and a single game console consumes about three times the power of 10W/kWh; The power consumption of four types of graphics cards is 2W, 3P, and 4V, respectively; The efficiency of five types of graphics cards is relatively low and there is some room for improvement Mining graphics cardEditor’s note: This article is from the vernacular blockchain (ID: hellobtc), written by a poplar tree, and reprinted by the Daily Planet with authorization The cost of graphics cards is expensive, but…
-
Bitcoin (BTC) Hits Over $28,000 and Risk Management Strategies
According to reports, the market shows that BTC has exceeded 28000 US dollars and is currently trading at 28008.1 US dollars, with a daily increase of 0.41%. The market is highly v