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Japan-based Decentralized Autonomous Organization (DAO) Sushi head chef Jared Gray and his attorneys said, to their knowledge, no one associated with Sushi violated the U.S. Federal Security Act, saying he We have reconfirmed that we are cooperating with US Securities. Subpoenas from the Securities and Exchange Commission (SEC).
on April 8 statementGray answered the community’s most frequently asked questions about subpoenas in FAQ format, suggesting that it’s unclear what action the SEC will take against others related to Sushi going forward. increase.
“In any event, we do not know whether the SEC intends to serve subpoenas on other individuals or entities that it believes represent the sushi community.”
Gray assured the community that the investigation did not imply wrongdoing.
“This investigation does not mean that the SEC has concluded that Jared, Internet 3 Software Company, or Sushi violated the law. It does not imply that we have an unpopular opinion.
After the subpoena was served, Gray acknowledged a dedicated $3 million Sushi DAO legal defense fund that he proposed to the community on March 21 to “handle legal needs for continued operation and We are trying to secure sufficient funding to “protect our key contributors.”
He stressed that unused funds in the Sushi DAO Legal Defense Fund will be refunded, provided all legal costs are covered.
Related: zkSync Era Launches With Uniswap And Sushi — First zkEVM On Mainnet
Following the statement, Gray told his Twitter followers on April 9 that they can expect V3, Sushi’s newly introduced centralized liquidity model, to be officially unveiled next week.
We haven’t officially announced V3 on Sushi yet (we’ll let you know early next week), but we’ve already seen a 100% increase in V3 TVL in the last 24 hours. With 30+ networks supporting V3 on Sushi, the second most popular OG DEX, things will get even more interesting in the coming weeks.
— Jared Gray (@jaredgrey) April 8, 2023
“I cannot comment beyond what the FAQ provides,” Gray told Cointelegraph.
This follows the news on Feb. 1 that MakerDAO, the issuer of DAI (DAI), has set up a $5 million legal defense fund dedicated to litigation costs to act as a self-insurance tool for its participants. continue. The costs were not transferable with traditional insurance.
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