Dragonfly Capital Dodges DOJ Risk in Twister Money Trial

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Haseeb Qureshi, co-founder of Dragonfly Capital, acknowledged that the agency is now not underneath potential authorized menace from the US Division of Justice (DOJ) over its previous help of Twister Money.

In a July 29 put up on X, Qureshi stated the DOJ had confirmed in court docket that media experiences suggesting the agency may face prices had been incorrect.

He famous that prosecutors confirmed on July 28 that neither Dragonfly nor its workforce 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 of.

Dragonfly Capital had invested in Twister Money’s improvement workforce 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 workforce 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. Because of this, he selected to not converse 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 employees may presumably face prices. Qureshi acknowledged that such public hypothesis is just not allowed underneath DOJ tips and was doubtless 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 complete 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 Struggle II period.With near a decade of expertise within the FinTech business, Aaron understands all the largest points and struggles that crypto fans 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 individual for every thing and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to remodel the area as we all know it, and make it extra approachable to finish inexperienced persons.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 developments, and in search of the following supernova.