Ooki DAO Members Have Identified Three Possible Action Items in Response to CFTC Lawsuit

Ooki DAO members are now discussing the appropriate response to the CFTC’s lawsuit. One of these responses involves allocating treasury funds towards legal counsel for DAO members. The Ooki community is also mulling the idea of raising additional funds for a possible legal challenge of the CFTC’s complaint. One possible route proposed by the DAO member who initiated these discussions is to submit a grant proposal on Gitcoin to raise funds for the legal defense. The idea here is to elicit support from the broader DeFi and crypto community to support the Ooki DAO's legal fight. "Insofar as all DAOs have a stake in the outcome, broad community support of Ooki DAO’s legal defense is critical," the forum post stated.

Previously, the CFTC’s lawsuit claims that Ooki DAO is an unincorporated association involved in unlawful activity, namely running an unlicensed exchange called bZx. The founders of the exchange recently settled with the regulator to the tune of $250,000.