Cryptocurrency conference speaker sued by SEC just in advance of taking the stage

A “rare” occasion took area at the 2021 Mainnet Conference in New York, when 1 (or additional) speakers acquired a subpoena from the SEC shortly in advance of joining their discussion.

Mainnet 2021 is a cryptocurrency conference to be held in New York City (USA) from September twenty-22, 2021, bringing with each other several leaders and celebrities from the crypto neighborhood.

Top speakers incorporate Gavin Wood (founder of Polkadot), Devin Finzer (founder of OpenSea), Kain Warwick (founder and CEO of Synthetix), Sergey Nazarov (founder of Chainlink), Do Kwon (founder and CEO of Terra), .. . and representatives of several tasks this kind of as Aave, Sushi, Solana, Polygon, Yearn, Celo, 1inch, dYdX, Gitcoin, THORChain, MakerDAO, Zcash, The Graph, Polymath, Maple Finance, Quantstamp, Akash Network, Cream Finance … and other good investment money .

Through the speakers and the quantity of participating tasks, Mainnet 2021 is this year’s main cryptocurrency occasion, attracting a good deal of focus from the global cryptocurrency investment neighborhood. Yet, on the very first day, the emphasis of the conference was not on the tasks, but on a “wrong situation”.

According to a submit by Slava Rubin, an investor who attended the conference, he witnessed firsthand how a speaker was sued by a representative of the US Securities and Exchange Commission (SEC) by a representative of the US Securities and Exchange Commission. (SEC) just walked out the elevator door to get prepared for the stage.

Slava Rubin did not disclose the identity of the speaker, but evaluating the submit time and Mainnet 2021 routine, several persons speculated that the SEC-nominated characters could be Gavin Wood (Polkadot), Devin Finzer (OpenSea), Kain Warwick ( Synthetix) and Do Kwon (Earth).

In distinct, Do Kwon is the most suspected man or woman, for the reason that he is the founder of Terra (LUNA), the issuer of the stablecoin TerraUSD (UST). This concept is feasible for the reason that the US government has been escalating legal routines all around stablecoins in the previous, as reported by Coinlive. The SEC itself has repeatedly warned that DeFi tasks could be topic to company management for the reason that, in their see, several tasks can be “masked titles.” UST is an algorithmic stablecoin pegged to the US dollar but does not essentially use the USD as collateral, so it could be closed by the SEC to the securities band. The similar industry-main DEX platform, Uniswap, is also staying investigated by the SEC above suspicions of trading in tokens regarded securities.

Synthetix’s Kain Warwick then tweeted “jokingly” about somebody staying sued, so it isn’t going to seem that he was targeted by the SEC.

News that the speaker was sued by the SEC rapidly spread and induced a stir, each between the crypto neighborhood and between conference attendees. According to sources of The block, there have been several persons sued, not just 1. The purpose as very well as the articles of the info the SEC sent to the mainnet speaker 2021 is nonetheless unclear.

Messari CEO Ryan Selkis, host of Mainnet 2021, later on confirmed in a Twitter submit that somebody was staying sued at the occasion.

“If you’re wondering when I’m going to run for the Senate, that’s when someone comes to my event, doesn’t bother buying a ticket, and sends a subpoena to one of my speakers.”

It can be mentioned that because the emphasis is on Mainnet 2021, the SEC’s action is viewed as a “warning shot” aimed immediately at the whole cryptocurrency sector.

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