Barnbridge DAO did not confirm the SEC’s findings but agreed to pay $1.7 million in damages as a result of the settlement.
BarnBridge DAO and its founders agreed to pay $1.7 million in compensation as a result of the agreement with the US Securities and Exchange Commission (SEC). The SEC accuses Barnbridge and its founders, Tyler Ward and Troy Murray, of failing to register the offer and sale of structured crypto-asset securities known as “SMART Yield Securities.”
BarnBridge Did Not Confirm or Object to the Accusations!
In its statement, the SEC announced that the DAO compared these bonds with asset-backed securities and offered them to the public. However, Barnbridge disagreed and did not object to the SEC’s findings.
SEC’nin İnceleme Başlattığı Biliniyordu
In July, Barnbridge attorney Douglas Park notified DAO members in a Discord message that the SEC had launched an investigation. Mr. Park emphasized that all work should be stopped at that time and that work done on behalf of the DAO should not be paid until further notice.
Finally, in late October, Barnbridge initiated a stakeholder vote on Ward and Murray’s authority to take the necessary steps to comply with the SEC’s decision. In this process, stakeholders will discuss issues such as whether compensation will be paid in accordance with the SEC’s instructions, whether all tokens approved for sale will be sold, and whether Ward and Murray will be allowed to distribute tokens.
