Haseeb Qureshi, co-founder of Dragonfly Capital, said that the agency is not underneath potential authorized risk from the US Division of Justice (DOJ) over its previous help of Twister Money.
In a July 29 submit on X, Qureshi mentioned the DOJ had confirmed in courtroom that media experiences suggesting the agency may face costs had been incorrect.
He famous that prosecutors confirmed on July 28 that neither Dragonfly nor its staff members are half of the present investigation.
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This replace got here after a federal prosecutor mentioned in courtroom on July 25 that costs in opposition to Dragonfly Capital’s Tom Schmidt and others had been being thought-about.
Dragonfly Capital had invested in Twister Money’s growth staff in August 2020. Earlier than investing, Dragonfly employed exterior authorized consultants, who confirmed that Twister Money appeared to adjust to the legal guidelines in place at the moment.
Roman Storm’s authorized staff had deliberate to name Tom Schmidt to testify in regards to the funding and associated discussions inside Dragonfly.
Nonetheless, prosecutors declined to supply Schmidt authorized safety for his testimony. In consequence, he selected to not converse in courtroom by citing his Fifth Modification rights.
Throughout that very same courtroom session, prosecutors made the primary public point out that Dragonfly employees may probably face costs. Qureshi said that such public hypothesis is just not allowed underneath DOJ pointers and was seemingly meant to discourage Schmidt from testifying.
On July 26, Storm requested one other donation to cowl his authorized bills. What did he say? Learn the total story.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Warfare II period.With near a decade of expertise within the FinTech business, Aaron understands the entire greatest points and struggles that crypto lovers face. He’s a passionate analyst who is worried with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and business newcomers.Aaron is the go-to particular person for all the things and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to rework the house as we all know it, and make it extra approachable to finish newcomers.Aaron has been quoted by a number of established retailers, and is a broadcast creator himself. Even throughout his free time, he enjoys researching the market developments, and in search of the following supernova.
