Sushi’s head chef says SEC Investigation doesn’t mean Sushi has violated any law
Jared Grey addresses community concerns amid SEC subpoena against Sushi crypto project.
SushiSwap was a copy of Uniswap, the top decentralized exchange that operates on the Ethereum blockchain, but later the team brought some changes after 2021. Since March 2023, Sushi head Jared Grey and the decentralized autonomous organization (DAO) have been under investigation by the United States Securities and Exchange Commission (SEC).
On 22 March 2023, Sushi created a legal defense fund with funding of between $85,000 and $100,000, to fight against the ongoing legal challenges.
SushiDAO failed to disclose deep information about the ongoing investigation against Sushi Dao & its head. But recently in the most asked F&Q, Grey responded and said that it is unclear whether in near future the SEC agency will further subpoena other actors of Sushi or not.
“We do not know, one way or the other, whether the SEC has purported to serve a subpoena on any other person or entity that it believes represents the Sushi community,” it was noted.
Grey confirmed that an SEC investigation doesn’t mean that Sushi or supporting actors were doing anything wrong or SEC doesn’t mean that the SEC has a negative opinion of any person, entity, or asset.
On 9 April, Grey also announced that SushiSwap’s newly deployed concentrated liquidity model (V3) will be announced in the upcoming week officially.
The current trade price of Sushi, the native governance token of the SushiSwap exchange, is $1.07 & this trade price is 4% down over the last 24 hours’ trade price.
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