Author: DAVID ATTLEE; Translated by: Song Xue, Golden Finance
Members of the BarnBridge Decentralized Autonomous Organization (DAO) have voted to comply with the U.S. Securities and Exchange Commission (SEC) and pay a fine if necessary. The vote closed on October 12 and nominated Tyler Ward and Troy Murray as special representatives of the DAO to deal with regulators. Meanwhile, Douglas Park will continue to serve as legal counsel and will sign the final order on behalf of BarnBridge. Voters also asked the DAO Treasury to "sell all tokens allowed to be sold" if necessary.
No specific directives have been received from the SEC to BarnBridge. The regulator’s investigation into The DAO began in June 2023. BarnBridge immediately suspended all work and shut down the liquidity pool. When speaking, Ward did not disclose the details of the SEC’s investigation due to its “non-public nature.”
The price of BarnBridge’s native token BOND has been falling since reaching its last peak of $21.69 on July 25. At press time, it is priced at $1.67, according to Coingecko data. Its all-time high was $185.7, which occurred in October 2020.
In 2021, BarnBridge announced the launch of the application "SMART Exposure", which enables users to maintain specific weights between assets in specific ERC-20 token pairs through automatic rebalancing.
In November 2022, the U.S. Securities and Exchange Commission (SEC) filed an administrative lawsuit against the first legally recognized DAO, the U.S. CryptoFed DAO. According to the SEC, the S-1 registration statement submitted by U.S. CryptoFed lacked important information, such as audited financial statements and detailed information about its business and management.
