Allegedly decentralized ‘credit market’ shutters after attorney Discord post
BarnBridge DAO’s legal counsel has claimed that the Securities and Exchange Commission (SEC) is investigating the allegedly decentralized organization. BarnBridge immediately terminated its liquidity pools, stopped creating new ones, and halted compensation to developers. Lawyer Douglas Park posted the announcement on Discord and BarnBridge tweeted it. Park said neither he nor fellow BarnBridge team members, Tyler Ward and Troy Murray, would comment on the ongoing investigation. Discord member Lord Tyler (possibly Tyler Ward himself) replied, “Confirming this is real.” Token-holders held personally liable There’s legal precedent for lawsuits personally affecting members of a decentralized autonomous organization (DAO). The US Commodities Futures Trading Commission (CFTC) won a sweeping victory against governance token-holders of another DAO called Ooki, with a judge agreeing that its members had to pay substantial fines and take down their website. Explaining hi...