Report of Investigation Pursuant to Section 21(a) of the Securities Exchange Act of 1934: The DAO
The United States Securities and Exchange Commissionâs (âCommissionâ) Division of Enforcement (âDivisionâ) has investigated whether The DAO, an unincorporated organization; Slock.it UG (âSlock.itâ), a German corporation; Slock.itâs co-founders; and intermediaries may have violated the federal securities laws. The Commission has determined not to pursue an enforcement action in this matter based on the conduct and activities known to the Commission at this time.
Perfection or bust – the rise and fall of The DAO
[The DAO](thedao) has made a lot of waves recently. First - last month when it became [the largest crowdfunding project in history](news/the-dao-could-become-the-largest-crowdfunded-project-in-history-this-week/), at one point surpassing Star Citizen's 116M USD (although it might be partially due to ETH exchange rate fluctuations). Second time - earlier this week when the DAO was hacked. So lets start from the beginning and have a look at the rise and fall of The DAO.
The DAO could become the largest crowdfunded project in history this week
The Ethereum-based decentralized organization, The DAO, is very close to breaking the all-time crowdfunding record. The completely decentralized funding campaign isn’t using a service like Kickstarter to organize the effort, yet it’s already the second highest earning project ever, excluding political campaigns.
