Share this article
Sushi DAO, Key Contributor Served With SEC Subpoena
The sushi token dropped 5.5% on the news.
Updated Mar 22, 2023, 5:54 p.m. Published Mar 21, 2023, 5:11 p.m.
Sushi DAO and Head Chef Jared Grey were served with a subpoena by the U.S. Securities and Exchange Commission, the decentralized autonomous organization revealed Tuesday.
Grey proposed creating a "Sushi DAO Legal Defense Fund" in a forum post, saying it would "cover legal costs for core contributors." The proposal recommends making $3 million in tether available for core contributors, with another $1 million worth of USDT available in case the initial $3 million are used up.
STORY CONTINUES BELOW
"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 since April 2022, when "Sushi 2.0" was ratified. The funds would be paid out until any legal proceedings are ended.
One of the initial 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.
UPDATE (March 21, 2023, 17:17 UTC): Adds additional detail.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Canadian Province Wins Forfeiture of $1M QuadrigaCX Co-Founder's Cash, Gold via Default Judgment
The ruling transfers cash, gold bars, watches, and jewelry seized from a CIBC safety deposit box and bank account into government hands after Patryn did not defend the case.
What to know:
- The Supreme Court of British Columbia has forfeited $1 million in cash and gold tied to QuadrigaCX's co-founder, Michael Patryn, to the government.
- Patryn did not contest the forfeiture, which involved 45 gold bars, luxury watches, and over $250,000 in cash seized under an Unexplained Wealth Order.
- The forfeiture may lead to a process determining if any assets can be directed to QuadrigaCX's creditors, who received 13 cents on the dollar in the bankruptcy settlement.
Top Stories
