Sam Ikkurty
I am the managing partner of Rose City fund, which is a digital asset fund exclusively invested in ERC20 tokens. “We had 2 investors exited our RCIF2 fund, who received 357.65% return in one year. In RCIF1, we had a total of 69 partners existed the fund in 2021. They collectively invested $5.9 million and exited the fund with $29.3 million in redemptions and $825,351 in distributions. The mean returns our investors was a CAGR of 303%. The investor with highest returns had a CAGR of 1407% while the investor with the lowest returns had a CAGR of 16.44%. Our complete record of exits from RCIF 1 is maintained here: Rose City Fund Redemption List. The total number of investors who lost money in the fund? ZERO. This is corroborated by Ms. Dasso’s own testimony.” These facts are described in our court filings in the docket number 312. View Docket 312
CFTC brought a lawsuit against Rose city fund in May, 2022 in a secret court with secret evidence, while we had a legal counsel. They were not even aware of that we had a third-party fund administrator of our fund, is Intertrust Group. They have not even reviewed our SEC filings. CFTC has been a serial killer of my constitutional rights. CFTC violated my 1st amendment rights to free speech and prevented me from speaking to the partners in the fund and seized our domain, preventing us from publishing publicly. Imagine, If I tried to seize the domain, cftc.gov and publish whatever content I liked. That is Thomas Jefferson said, “Tyranny is defined as that which is legal for government but illegal for the citizenry”. CFTC violated my 4th amendment rights to unreasonable searches and seizures. CFTC infringed on my 5th amendment right to due process of law. CFTC infringed on my 6th amendment right to fair trial by filing in secret courts without even opponent being present. CFTC infringed on my 7th amendment with grants the right to a jury trial in civil cases. CFTC violated my 8th amendment right for no excessive bail or fines, by seizing all of my life time earnings, including my partners without any due process. CFTC infringed on my 14th amendment rights by seizing my assets, in violation, of ‘deprive any person of life, liberty or property without due process of law’. These are my inalienable rights, endowed by my creator. These are not bestowed upon me by CFTC.
I am reminded of this quote, from the framer of our constitution, Thomas Jefferson. “A true patriot will defend his country from its government”. In fact, these freedoms are hard-fought by the founders of this great nation and it is upto us, we the people, to defend them against tyrannical governments. As Thomas Jefferson, wisely stated, “The greatest danger to American freedom is a government that ignores the constitution.” I need all of you patriots to help in order to defend this case against tyrannical governments. Please donate.
Another major issue at stake is that CFTC claims it has subject matter jurisdiction on SPOT transactions in Ethereum. It is so absurd, because before filing this case, they have never even looked at our digital assets. They said we traded ‘no digital assets’, without even checking the blockchain! CFTC’s disdain for our constitution is only matched with their incompetence. All of our transactions are on a open-source, transparent, auditable and immutable public blockchain. We disagree that congress has granted such authority via Commodities Exchange Act. CFTC claims that all spot transactions on Ethereum come under their purview, without debating or taking inputs from anyone in the public. As of today, there around 247 million unique Ethereum wallet addresses, that are engaging in SPOT trading. If this case goes unchallenged, it would automatically make criminals of 100s of millions of users. This has generational impact on the multi trillion-dollar digital asset market and far-reaching public policy implications. If this case is not fought in the court, it will set a terrible precedent both for our constitutional rights and decentralized crypto currencies will be subject to CFTC’s jurisdiction, without any such power granted by the US Congress. Please support our cause and donate generously.