Andre Cronje or Defi’s father, known as Defi, had to make a difficult decision in 2022. For crypto currency investors, 2022 was the days when the worries that everything could be finished. Single -digit Left coin price BTC and much more than 15,500 dollars. So why did Andre make such a difficult decision?
Andre Cronje and his resignation
DefiThe name, known as the father of his father, had to stop doing what he did in 2022. He implemented the Yearn in January 2020 and did not sell tokens to avoid any problems with the organizers and did not collect money. He did not violate the securities laws of any country. Moreover, he did not receive any fees from the protocol.
“I did not earn any fees from the protocol, I did not have a founder, my team or any allowance, the protocol had no financial benefits for myself. All the code was open source and could be used for free. I wasn’t a US citizen, I wasn’t working in the USA. My only visit to the USA was for a consensus conference. ”
He founded Keep3r under the same frame around 2021. Then the SEC sent a letter to him in the same year and YFI He was demanding information about it.
Im I followed this and gave as much information as I could. Even the only information collection work required me to spend real time and effort for weeks to give the details they wanted (usually the details I didn’t have and I had to do hours of research to find). I thought it was enough. “
Then the second letter came and the tone changed, the need for legal assistance emerged. As you guessed, this was the way to the resignation process.
“Then the second letter came; At this point, it was understood that I needed legal assistance because the tone changed, the way I do all my projects (no company, no legal entity, no hike, etc.) meant two things; I didn’t have a legal consultant or a lawyer environment, and I didn’t have the power to finance it. ”
SEC forced him to resign
Andre Cronje says that after explaining the whole process, he had to choose and resigned after having to deal with it every month and after experiencing endless sleepless nights and stress ”. Either he would continue to produce technology in an open source and would not benefit from it. Or he would end and resign the process in which SEC was spending his money to fight his harassment and his days of borrowing turned into a nightmare.
So why did he explain all this now?
“SelectionConsidering the new administration of the new administration, I thought I could really write about it, because it was strongly recommended that I didn’t talk about the investigation by the same inspectors before, otherwise things might have escalated.
It was a challenging and incredibly stressful period. And I don’t want any colleague to have to have something like this.
I look forward to the future and a new decentralized world that we can build. ”
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
