The SEC served a Subpoena to Sushi and Head Chef Jared Grey! What is the SEC up to next?

Hi everyone,

Sushi and their Head Chef Jared Grey recently got a SEC subpoena from the SEC.

This is the summary that they gave on their site:

"The international regulatory environment for DAOs remains in flux, and the options for contributor insurance policies remain limited. Therefore, we propose Sushi DAO make available a legal defense fund of 3M USDT. This fund will cover legal costs regarding inquiries, litigation, and other issues targeting core contributors. As proposed in March '22, Sushi (Sushi Legal Structure 1) sought to establish a legal entity to reduce liability for contributors and the DAO. Yet, it has become evident funds must be available to handle legal needs for operational continuity and to protect core contributors."

And for the exact cause Sushi said the following:

"Sushi, and Head Chef Jared Grey, were recently served with an SEC Subpoena. We’re cooperating with the SEC. We do not intend to comment publicly on ongoing investigations or other legal matters."

The SEC has been on fire lately by going after exchanges like Robinhood, Kraken,... Sushi is the first DEX that they are going after. The Sushi DAO will make $3,000,000 USDT available for their defense.

Is this the start of a witch hunt after DEX or did Sushi do something bad? What do you guys think?

ChemicalGreek

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Source: https://forum.sushi.com/t/establish-sushi-legal-defense-fund/11813