Haseeb Qureshi, co-founder of Dragonfly Capital, said that the agency is now not beneath doable authorized risk from the US Division of Justice (DOJ) over its previous assist of Twister Money.
In a July 29 publish on X, Qureshi stated the DOJ had confirmed in court docket that media stories suggesting the agency may face prices had been incorrect.
He famous that prosecutors confirmed on July 28 that neither Dragonfly nor its group members are half of the present investigation.
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This replace got here after a federal prosecutor stated in court docket on July 25 that prices in opposition to Dragonfly Capital’s Tom Schmidt and others had been being thought-about.
Dragonfly Capital had invested in Twister Money’s growth group 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 group had deliberate to name Tom Schmidt to testify concerning the funding and associated discussions inside Dragonfly.
Nonetheless, prosecutors declined to supply Schmidt authorized safety for his testimony. In consequence, he selected to not communicate in court docket by citing his Fifth Modification rights.
Throughout that very same court docket session, prosecutors made the primary public point out that Dragonfly workers may presumably face prices. Qureshi said that such public hypothesis is just not allowed beneath DOJ pointers and was probably supposed 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 Battle II period.With near a decade of expertise within the FinTech business, Aaron understands the entire largest points and struggles that crypto lovers face. He’s a passionate analyst who is anxious 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 individual for all the pieces and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to rework the area as we all know it, and make it extra approachable to finish learners.Aaron has been quoted by a number of established shops, and is a printed writer himself. Even throughout his free time, he enjoys researching the market traits, and on the lookout for the subsequent supernova.
