Ethereum Watch

Quick take:

• Chef Nomi of SushiSwap has apologized for selling all his Sushi for ETH worth $14M
• He further explained his actions were driven by greed
• Chef Nomi has returned all the ETH back to the SushiSwap treasury
• He has requested the SushiSwap community to decide what compensation he deserves as the creator of SushiSwap

In a dramatic plot twist, the creator of SushiSwap has taken to Twitter to apologize for his earlier actions of selling all his SUSHI for ETH in what many saw as an exit scam. Chef Nomi further added that he was returning all the Ethereum he had earned from selling his SUSHI and would let the SushiSwap community decide what amount of compensation he deserved.

Chef Nomi Apologises for Everything

With regard to an apology, Chef Nomi apologized to everyone he let down including CZ of Binance.

To everyone. I f*cked up. And I am sorry…

I would like to apologize to everyone who I have caused troubles to. I was emotional, I was greedy, I was afraid. I made bad controversial decisions under pressure. And it hurt everyone. I failed your expectation and I am sorry.

@0xMaki @zippoxer @Sushi__ninja The early believers in the project. Thank you for joining the journey with me early. And sorry if I made you feel betrayed. I really appreciated your help bootstrap the project and push it forward.

@lawmaster @scott_lew_is @danielque 

@tomhschmidt @rleshner and other Crypto OGs.

@DegenSpartan @mewn21

@intocryptoast and other degen friends. I failed your expectation. I am sorry.

@binance @cz_binance @nomorebear I am sorry that I may have caused you trouble.

@haydenzadams @brendan_dharma sorry for being cocky. You guys are awesome builders.

Chef Nomi Returns $14M of ETH

With regards to returning all the Ethereum – 38,000 ETH – he had gained by selling his Sushi, Chef Nomi sent it back and requested the SushiSwap community to determine his compensation as the creator of SushiSwap. Below is his tweet providing the Ethereum transaction for verification.

I have returned all the $14M worth of ETH back to the treasury. And I will let the community decide how much I deserve as the original creator of SushiSwap. In any currency (ETH/SUSHI/etc). With any lockup schedule you wish.https://t.co/QwFj5SeeuQ

— Chef Nomi #SushiSwap (@NomiChef) September 11, 2020

Did the FBI Have Anything to Do With It?

Chef Sushi’s actions come days after SushiSwap investors were advised to lawyer up and contact the FBI with regards to getting justice. Calls to prosecute Chef Nomi were initiated by Preston Byrne, a technology, media and Bitcoin lawyer who pointed out SushiSwap as a token, is a regulated security. Below is Mr. Byrne’s tweets explaining these facts.

This coin is regulated as a security, appears not to comply with Section 5 or an exemption from registration and therefore a sale is subject to a right of rescission. With an alleged “exit scam” you could also probably find common law claims. There are ways. https://t.co/geQH44PNcc

— Preston Byrne (@prestonjbyrne) September 6, 2020