BarnBridge DAO votes to comply with SEC order

BarnBridge decentralized autonomous organization’s (DAO) members person conducted their voting connected however to respond to the United States Securities Exchange Commission’s (SEC) imaginable demands. 

The voting ended connected Oct. 12 with an unanimous decision to comply with the SEC’s imaginable demands and wage fines if necessary. Tyler Ward and Troy Murray were nominated arsenic DAO’s peculiar delegates for dealing with the regulator. At the aforesaid time, Douglas Park remains the DAO’s ineligible counsel and volition motion the last mentation of the Order connected behalf of BarnBridge. Voters person besides fto the DAO’s Treasury “sell each tokens that it is permitted to sell” if needed.

No accusation is disposable connected immoderate circumstantial bid the SEC has sent to BarnBridge. The regulator’s probe into this DAO began successful June 2023. BarnBridge instantly paused each its enactment and closed the liquidity pools. Addressing the members, Ward provided nary details for the SEC's probe owed to its “non-public nature.”

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The terms of BarnBridge’s autochthonal token, BOND, has been gradually falling since its past highest connected July 25, erstwhile it reached $21.69. By property time, it stands astatine $1.67, according to CoinGecko. Its all-time maximum, $185.7, happened successful October 2020.

In 2021, BarnBridge announced its application, "SMART Exposure," enabling users to passively support a peculiar weighting betwixt the assets successful a circumstantial ERC-20 token brace done automatic rebalancing.

In November 2022, the SEC instituted administrative proceedings against the archetypal legally recognized DAO successful the U.S., American CryptoFed DAO. According to the SEC, the Form S-1 registration connection filed by American CryptoFed lacked captious information, specified arsenic audited fiscal statements and details astir its concern and management.

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