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In light of an SEC subpoena, Sushi’s head chef responds to community concerns


Head chef of Japan-based decentralized autonomous organization (DAO) Sushi Jared Grey and his attorney assured that he is cooperating with the United States Securities and Exchange Commission (SEC) subpoena and that, as far as they are aware, no one connected with Sushi has broken any U.S. federal security laws.

In a statement dated April 8, Grey responded to the most typical questions from the public on the subpoena that was issued to him.

He said it’s unclear whether the SEC will issue other subpoenas to individuals connected to sushi in the future.

“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 assured the community that the investigation does not imply any wrongdoing. He stated:

“The investigation does not mean that the SEC has concluded that Jared, Internet Three Software Company, or Sushi has violated any law. Also, the investigation does not mean that the SEC has a negative opinion of any person, entity, or asset.”

Grey acknowledged the Sushi DAO legal defense fund, a $3 million fund he presented to the community on March 21 following the subpoena’s service, and said he is working to make sure there are enough money available to “handle legal needs for operational continuity and protect core contributors.”

He highlighted that any money left over from the Sushi DAO Legal Defense Fund would be returned after all legal fees had been paid.

Following the statement, Grey told his Twitter followers on April 9 that they can expect Sushi’s newly deployed concentrated liquidity model, V3, to be officially announced next week.


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