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SushiSwap's CEO Jared Grey has proposed a $3 million legal defense fund to cover legal costs for core contributors after Sushi DAO and Grey were subpoenaed by the U.S. SEC.
The DAO said it would not be commenting on “ongoing legal investigations,” but its existing $100,000 defense fund was apparently not enough.
The Securities and Exchange Commission has served a subpoena on the Sushi DAO and its Head Chef Jared Grey. SEC after a DEX scalp The SEC is continuing its enforcement push on crypto, targeting some of the more important infrastructure in the crypto ecosystem.
Sushi's “head chef” has received a subpoena from the financial watchdog.
The price of SushiSwap's SUSHI token slipped by roughly 5% following an announcement made by Jared Grey, the decentralized finance (DeFi) platform's head chef.
What comes as a shocker for the crypto market, leading decentralized exchange (DEX), SushiSwap and its Head Chef Jared Grey, have been served with a subpoena by the U.S. SEC recently. The team is currently in the process of having discussions with the financial watchdog and has refrained from commenting publicly about the ongoing investigation.
In a governance proposal released Tuesday afternoon, the DEX said it hopes to sell 15% of its treasury to fund its legal defense efforts
Sushi DAO proposes a 3M USDT legal defense fund for core contributors to cover legal costs and ensure operational continuity.
The United States Securities and Exchanges Commission (SEC) has taken a swing at yet another crypto-entity. This time around the commission has issued a subpoena against SushiSwap – a decentralized exchange.
Decentralized exchanges (DEXes) registered an exponential rise in trading activity in the last 24 hours after the collapse of Silicon Valley Bank (SVB) triggered FUD in the broader crypto market and depegged the USD Coin [USDC].
SushiSwap, a popular multichain decentralized exchange (DEX), burns approximately $5 million annually, its chief chef, Jared Grey, revealed on February 28. SushiSwap Holds $30.6 Million Worth Of Digital Assets In a tweet, Grey said the protocol holds $30.6 million worth of multiple assets, diversified across Ethereum, Wrapped BTC (WBTC), stablecoins, and more.
The world of cryptocurrencies has seen a host of digital assets flourish, from varied sectors. One sector which has seen impeccable growth in the past is the sector of Decentralized Finance (Defi). Successively, numerable digital assets from Defis, have garnered the interest of the masses.
SushiSwap Head Chef Jared Grey said the protocol increased its Treasury holdings to about $30.6 million with a burn rate of around $5 million per annum.
Explore the world of liquidity mining with our in-depth analysis of 1inch, Uniswap, SushiSwap, Curve, and Balancer.
According to data provided by Messari, the fees on DEXs have drastically reduced over time. This decline in fees would help DEXs such as Uniswap, Curve, and SushiSwap attract more users to their respective protocols.
The acquisition of Vortex Protocol also means SushiSwap will be rolling out its services on Cosmos in Q2 this year.
According to the Sushiswap announcement of the partnership with Aura Finance, the DEX said the new deal also included at least 28 other projects.
Sushiswap (SUSHI) is experiencing relatively positive price action at the time of writing on heightened community enthusiasm for the new proposal that has been passed. The decentralized exchange (DEX) token is up by 3.41% over the past 24 hours and by 17.11% in the trailing seven-day period.
On 6 February, SushiSwap [SUSHI] announced that its proposal for Sushi Vesting Merkle Tree Clawback got approved for implementation.
Veteran analyst and trader Avi Felman, head of the digital asset trading arm in GoldenTree Asset Management investing heavyweight, explains why he is highly enthusiastic about the macro prospects of SushiSwap (SUSHI).
A widely followed crypto trader says Bitcoin's (BTC) current value of $23,571 offers potential promise for the future. Pseudonymous crypto analyst Rekt Capital tells their 334,500 Twitter followers that BTC's weekly close over $23,400 is a promising sign for the king crypto.
In 2022, SushiSwap [SUSHI] recorded a revenue of $16.75 million, according to Token Terminal. However, compared to protocols like MakerDAO [MKR] and Lido Finance [LDO], Sushiswap fell short.
In the case of SushiSwap and the Sei Network, the benefit for both firms is quite clear and besides growing its influence, the former will use the partnership to generate a new revenue stream for the protocol.
Sushiswap passed a proposal to revamp its tokenomics this week and the new exchange could have an impact on its native token sushi.
