{"id":75957,"date":"2023-03-22T10:28:04","date_gmt":"2023-03-22T08:28:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75957"},"modified":"2025-09-10T14:37:17","modified_gmt":"2025-09-10T11:37:17","slug":"sushi-dao-proposed-allocating-3-million-for-legal-expenses-after-subpoenas-from-the-sec","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sushi-dao-proposed-allocating-3-million-for-legal-expenses-after-subpoenas-from-the-sec\/","title":{"rendered":"Sushi DAO proposed allocating $3 million for legal expenses after subpoenas from the SEC"},"content":{"rendered":"<p>SushiSwap chief Jared Grey <a href=\\\"https:\/\/forum.sushi.com\/t\/establish-sushi-legal-defense-fund\/11813\\\">\u043f\u0440\u0435\u0434\u043b\u043e\u0436\u0438\u043b<\/a> Sushi DAO \u0441\u043e\u0437\u0434\u0430\u0442\u044c \u0444\u043e\u043d\u0434 \u043f\u0440\u0430\u0432\u043e\u0432\u043e\u0439 \u0437\u0430\u0449\u0438\u0442\u044b \u0432 \u0440\u0430\u0437\u043c\u0435\u0440\u0435 $3 \u043c\u043b\u043d \u043f\u043e\u0441\u043b\u0435 \u043f\u043e\u043b\u0443\u0447\u0435\u043d\u0438\u044f \u0438\u043c \u0438 \u043e\u0440\u0433\u0430\u043d\u0438\u0437\u0430\u0446\u0438\u0435\u0439 \u043f\u043e\u0432\u0435\u0441\u0442\u043e\u043a \u043e\u0442 \u041a\u043e\u043c\u0438\u0441\u0441\u0438\u0438 \u043f\u043e \u0446\u0435\u043d\u043d\u044b\u043c \u0431\u0443\u043c\u0430\u0433\u0430\u043c \u0438 \u0431\u0438\u0440\u0436\u0430\u043c \u0421\u0428\u0410 (SEC).<\/p>\n<p>Grey noted that in March 2022 <a href=\"https:\/\/forklog.com\/en\/news\/sushiswap-proposes-creating-a-legal-structure-to-reduce-risks\">sought to establish a legal framework<\/a> to reduce risks for <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-dao-decentralised-autonomous-organisation\">the DAO<\/a> and its members.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Nevertheless it became clear that, to meet the legal needs of ensuring business continuity and protecting the core participants, funds must be available,&#8221; he noted.<\/p>\n<\/blockquote>\n<p>The head of the DEX did not disclose details of the regulator&#8217;s subpoenas that had recently been received.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We are cooperating with the SEC and do not intend to publicly comment on ongoing investigations or other legal issues,&#8221; Grey said.<\/p>\n<\/blockquote>\n<p>According to the proposal, the fund will cover &#8220;reasonable attorney fees and expenses&#8221;.<\/p>\n<p>Funds will be held in a multi-signature wallet and allocated to legal representation as needed until the proceedings are concluded.<\/p>\n<p>Grey proposed funding the structure from the following sources:<\/p>\n<ul class=\"wp-block-list\">\n<li>treasury funds (one-time payment) \u2014 50%;<\/li>\n<li>grants from the project&#8217;s business-unit revenues \u2014 35%;<\/li>\n<li>sale of SUSHI tokens \u2014 15%.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We believe that such a breakdown reduces the financial burden while still providing the necessary funds to cover legal costs, safeguarding Sushi DAO&#8217;s financial solvency and meeting the pressing need for representation,&#8221; he emphasised.<\/p>\n<\/blockquote>\n<p>In the event the fund is exhausted, the DAO will reserve an additional $1 million for unforeseen expenses.<\/p>\n<p>In October 2022, <a href=\"https:\/\/forklog.com\/en\/news\/sushi-community-names-new-head-chef\">took the helm of SushiSwap<\/a>, winning the DAO vote by a wide margin over rivals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SushiSwap chief Jared Grey proposed that Sushi DAO create a legal defense fund of $3 million after he and the organization received subpoenas from the U.S. Securities and Exchange Commission (SEC).<\/p>\n","protected":false},"author":1,"featured_media":75958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1379],"class_list":["post-75957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-sushiswap"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=75957"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75957\/revisions"}],"predecessor-version":[{"id":75959,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75957\/revisions\/75959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/75958"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=75957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=75957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=75957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}