JUST IN: Sushi DAO and 'Head Chef' Jared Grey were served with a subpoena by the SECgov, and are now looking to create a legal defense fund. nikhileshde OKnightCrypto report
were served with a subpoena by the U.S. Securities and Exchange Commission, the DAO revealed Tuesday., 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 sinceinitial 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.
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