An attorney for the founders of the precursor to Ooki DAO tells a judge they cannot accept a CFTC lawsuit for Ooki DAO. nikhileshde reports.
Tom Bean and Kyle Kistner, the founders of bZeroX, a company which eventually became Ooki DAO, are no longer tied to the decentralized autonomous organization , an attorney for the duo said.
Bean and Kistner founded bZeroX, which ultimately became Ooki DAO, to offer unregistered derivatives products to U.S. customers. The Commodity Futures Trading Commission sued Ooki DAO earlier this year, after settling with Bean and Kistner for their previous work with bZeroX. However, crypto industry participants took issue with the CFTC's effort to serve the entire DAO by posting in a web forum and help bot.
"In particular, as you no doubt recall, the settlement between our clients states f): 'Respondents shall cease all participation in the governance, operation, or any other activities of the Ooki DAO. Without limitation, Respondents shall not make proposals, directly or indirectly through others, related to Ooki DAO governance; or vote any Ooki Tokens they own or control,'" the letter said.
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