The Blockchain Doesn't Lie
Every transaction Rose City Investment Fund ever made is permanently recorded on the Ethereum public ledger — timestamped to the microsecond, verifiable by anyone in the world, impossible to alter. The CFTC's lead investigator admitted under oath she never looked at it.
On-Chain Record — Before CFTC Filing (Feb 2, 2021 – May 13, 2022)
"I did not look at the blockchain."
In a case built entirely on DeFi activity recorded on the Ethereum blockchain, the CFTC's key witness never reviewed the only objective, immutable evidence. The $209 million summary judgment was based on an incomplete record.
Responding to the Genie Technologies Claim
The CFTC has repeatedly told the court that Rose City "sent approximately $19 million to Genie Technologies and received nothing in return," painting it as classic misappropriation of investor money. This allegation helped secure the $209 million summary judgment. The public blockchain tells a completely different story.
Rose City sent $19 million to Genie Technologies and received nothing in return — characterizing this as misappropriation of investor funds.
Genie Technologies Ltd. is a domestic North Carolina company — the transfers were USD-to-ETH purchases, not offshore misappropriation. The on-chain ledger shows 126 "Receive" transactions returning ETH directly into the fund wallet. Every dollar sent out had a corresponding asset coming in.
The single most powerful rebuttal: "The CFTC claims Rose City misappropriated $19 million to Genie Technologies and received nothing in return — but the public blockchain ledger proves 126 receive transactions sent ETH straight back into the fund wallet in exchange, showing active two-way trading, not theft; the CFTC's own lead investigator admitted under oath she never reviewed this ledger."
CFTC Claims vs. Blockchain Reality
Rose City sent approximately $19 million to Genie Technologies and received nothing in return.
The on-chain ledger shows 126 separate 'Receive' transactions returning ETH to the fund wallet. Genie Technologies Ltd. is a domestic North Carolina company — the transfer was a USD-to-ETH purchase, not misappropriation. Every dollar sent out had a corresponding asset coming in.
The fund concealed losses and misrepresented performance to investors.
885 transactions are publicly visible on Etherscan, timestamped to the microsecond, verifiable by anyone in the world. The fund published 139 consecutive weeks of public wallet disclosures. Concealment is mathematically impossible on a public blockchain.
The fund operated as a Ponzi scheme, using new investor money to pay earlier investors.
Independent forensic expert StoneTurn Group concluded a Ponzi scheme was mathematically impossible given the on-chain activity. All 69 investors who redeemed exited profitably — CAGR of 303%, lowest individual return 17%.
The CFTC's investigation established the facts of the case.
CFTC lead investigator Heather Dasso admitted under oath: 'I did not look at the blockchain.' In a case built entirely on on-chain DeFi activity, the government's key witness never reviewed the only objective, immutable evidence.
Verify It Yourself
Unlike the CFTC's investigator, you don't have to take anyone's word for it. Every transaction is permanently recorded on the public Ethereum blockchain. The complete ledger is available as a downloadable spreadsheet with every transaction hash, timestamp, counterparty address, and USD value.