Japan-based decentralized autonomous organization (DAO) Sushi head chef Jared Gray and his attorney stated that, to their knowledge, no one associated with Sushi has violated US federal safety laws. Commission citation Exchange (SEC).
On an April 8 statementGray answered the most frequently asked questions from the community in an FAQ format regarding the subpoena he was served.
He suggested that it is unknown if the SEC will issue more subpoenas to other people linked to Sushi in the future.
“We do not know, one way or another, whether the SEC has attempted to serve a subpoena on any other person or entity it believes represents the sushi community,” it said.
Gray assured the community that the investigation does not involve any crime. He stated:
“The investigation does not mean that the SEC has concluded that Jared, the Internet Three Software Company or Sushi have violated any law. In addition, the investigation does not mean that the SEC takes a negative view of any person, entity, or asset.”
Gray acknowledged Sushi DAO’s legal defense fund, a dedicated $3 million fund he proposed to the community on March 21 after the subpoena was served, stating that he is trying to ensure adequate funding is in place to “handle the needs legal requirements for operational continuity and to protect the core”. taxpayers.”
He stressed that any unused funds in the Sushi DAO Legal Defense Fund will be refunded, provided all legal costs have been covered.
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Following the statement, Gray told his Twitter followers on April 9 that they can expect Sushi’s new concentrated liquidity model, V3, to be officially announced next week.
We’ve yet to officially announce V3 on Sushi (early next week, folks), but we’ve already seen a 100% increase in V3 TVL in the last 24 hours. Things will get interesting in the coming weeks, with over 30 networks supporting V3 in the second most OG DEX, Sushi.
— Jared Gray (@jaredgrey) April 8, 2023
Gray told Cointelegraph that he “cannot comment beyond what the FAQ section provides.”
This comes after the news on February 1 that MakerDAO, the issuer of DAI (DAI), launched a $5 million legal defense fund, to serve as a self-insurance tool for its participants, as the developers noted. that such costs could not be transferred. through traditional insurance.
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