SushiSwap Opines On U.S. SEC Crypto Crackdown $SUSHI

Sushi Swap Head Chef Jared Grey has expressed his disillusionment with the state of the crypto industry as regulatory crackdowns, including actions against the decentralized exchange (DEX) he manages, have intensified.Grey spoke about his feelings towards U.S. regulators and the industry during a recent ask-me-anything call on Discord. Grey shares: "It really feels like over this last cycle that the majority of that feeling of excitement is gone now.

Timeline of Sushiswap

An Ethereum-based altcoin has outperformed most of the crypto markets over the last week as the founders of bankrupt hedge fund Three Arrows Capital (3AC) gear up to launch their own exchange.

Sushi, the Web3 exchange that pivoted into a decentralized autonomous organization (DAO), is seeking to organize a legal defense fund. If approved, the proposal, which already is available for voting, will put $3 million USDT as part of a fund to defend itself from legal actions against the organization and its members.

The Securities and Exchange Commission (SEC) has issued a subpoena to Sushi DAO and its “head chef,” Jared Grey, as part of the regulator's ongoing efforts to scrutinize the decentralized finance (DeFi) industry and cryptocurrencies. The news was announced in a blog post on the Sushi Forum.

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.

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.

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.

Even though DEXs have gained popularity after FTX's collapse, the competition within the sector has increased too. SushiSwap is one of the DEXs that has struggled to outperform its competitors during this period.

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.

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).

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.