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Umee is creating an institutional lending decentralized autonomous organization (DAO) called UDX to help facilitate the transition of bond markets into DeFi lending. The initiative will improve bond markets’ efficiency on Umee’s Cosmos-, Ethereum-, Avalanche-, Near- and Solana-compatible trading platform. Source
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The lawsuit, announced last week, is the first to be brought against members of a DAO by the CFTC, and could have wide-ranging consequences for DAO regulation in the future. Charges were also filed and settled against a blockchain protocol, bZeroX – which the CFTC claims operated the same service
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“A key bZeroX objective in transferring control of the bZx Protocol (now the Ooki Protocol) to the bZx DAO (now the Ooki DAO) was to attempt to render the bZx DAO, by its decentralized nature, enforcement-proof. Put simply, the bZx Founders believed they had identified a way to violate the
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The new proposed DAO structure will bring in delegated voting, which allows members of the DAO to transfer their voting rights to other members who can then vote on their behalf. Although Aragon Network exists to help others create DAOs, it wasn’t originally set up as one itself, and these
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While, as Dilendorf pointed out, the action was a “wake-up call” for crypto founders who think a DAO is a shield from regulation, attorneys have also pointed out that it’s a wake-up call for industry participants who have groused about crypto regulation under the SEC, assuming that the CFTC would
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MKR trades below 50 and 200 EMA on the daily timeframe. Price breaks out of a falling wedge with eyes set on key
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The Commodities Futures Trading Commission (CFTC) has sparked strong criticism from the community after filing a federal civil enforcement action against members of decentralized autonomous organization Ooki DAO over digital asset trading violations. In a Sept. 22 release, the CFTC stated that it had filed and simultaneously settled charges against
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The CFTC has simultaneously filed a civil enforcement action charging the Ooki DAO, the successor to bZeroX, with violating the same laws as bZeroX. It seeks restitution, disgorgement, civil monetary penalties, trading and registration bans and injunctions against further violations. Source
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After months of uncertainty, the Tribe DAO has passed a vote to repay affected users of the $80 million exploit on decentralized finance (DeFi) platform Rari Capital's liquidity pools.Following several rounds of voting and governance proposals, Tribe DAO, which consists of Midas Capital, Rari Capital, Fei Protocol and Volt Protocol,
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