@SherwoodOracle

Corporate Governance and Mergers and Acquisitions attorney passionate about web3 and interested in DAO governance structures. Co-founder @CapPigSociety

 Los Angeles, CA
Joined January 2022
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Hello, I’m the Sherwood Oracle, I have very few memories of my father. None of them are good. When I was still a just squealing piglet, he left my mom and me. Deep in debt, he declared individual bankruptcy—leaving my mom entirely on the hook. (1/10)
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The SEC has decided to investigate Yuga Labs, APE coin staking, and the BAYC NFTs to determine if they are all, in fact, securities. Here’s why there is a good chance they WILL be considered securities. A🧵:
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Therefore, according to the Howey Test, APE Coin and, potentially, Bored Ape NFTs are in fact securities!...(8/9)
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What does this mean? Time will tell. If the SEC does classify these NFT projects as securities, it will require projects to make SEC level disclosures to the public & produce a prospectus for potential investors. What will this do to innovation in web3? Likely stifle it. (9/9)
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Draft EU law would make PFP NFTs a security. SEC will take notice, already indicating they are inclined to view NFTs as securities. The draft legislation in the Senate Finance Committee (which would call NFTs commodities) is stalled. Watch this space! #nft #securities #ETH
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Under "Howey Test," a security exists if its: (1) an investment of $$$, (2) in a common enterprise, (3) with expectation of profit, & (4) [value] derived from efforts of others. YES to all = security. Whats this mean for ETH Staking? Tune in to @CapPigSociety pod! #EthereumMerge
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Analyzing ETH and its staking provisions under the Howey Test seems ripe for a podcast from a corporate securities attorney. Perhaps we at the @CapPigSociety should do one? What say you @Hamilton_CPS?
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According to the Wall Street Journal, ETH's move to PoS, with its staking, could bring it under the Howey Test, which decides whether something is a security (prompting SEC oversight). Watch this space. #EthereumMerge #ETH #Securities
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Someone told me the merge was going to be the end of the world, so I sold everything I had and blew it all on an unopened six pack of Tab Cola from the 1980s that I bought on eBay off a 56 year old GameStop cashier. #EthereumMerge #Exposition #toomuch – at Los Angeles, CA
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TheGoodShepherd retweeted
vitalik.eth
@VitalikButerin15 Sep 2022
And we finalized! Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.
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It’s done! We’re still here! – at Los Angeles, CA
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5 minutes to the merge! I feel like the people in Independence Day on top of the building in LA partying and the space ship overhead is opening up and the light is beaming down. The hope, the wonder…then… – at Los Angeles, CA
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Two #y00ts – at West Hollywood, CA
This Thurs., 8/11, @Hamilton_CPS & @SherwoodOracle will host the 1st CP$ Pod/YouTube Broadcast/Twitter Space—our 1st chance to test equip., programing format (segments, comedic sketches, cocktails, & web3 informational content—legal & otherwise). Around 7pm PDT (10pm EST). Join! – at Los Angeles, CA
Because CT needs yet another opinion on moonbirds going CC0: CC0 is not inherently bad. It works in specific instances (see @nounsdao). It all depends on the project. The issue is that mb changed the IP rights of owners suddenly without vote or consultation w/the community...1/2
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2/2: Transparency should be paramount. Especially when people have invested in a project thinking they would be able to commercially benefit but were left with less property rights than when they bought in. At least let the community decide.
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