Orb Collective June 2023 Ops & GRC Update


DAO reports

Wind-down process

  • Resolved financial dispute with EOR
  • Payroll provider offboarding for 7/31
  • Vendor terminations
  • Review/modification of agreement for 2023 tax filing
  • Worked with tax firm to change tax strategy; optimized to maximize savings in 2023
  • 401K withdraw/transfer process for US FTEs
  • Legal process for transition of non-US FTE employed via EOR
  • Accounting for final team token distributions


  • João offboarding
  • Weekly team meetings
  • Participation in ecosystem council
  • Review of OpCo admin/ops proposal & retrospective
  • Review of integrations SP proposal
  • Review, approval/denial, writing/sending of bills, invoices, reimbursements


1- Advise Ecosystem Council and SPs on GRC matters including marketing, regulatory requirements and tech compliance issues

Reviewed and edited NDAs and Marketing Agreements, public comms review of posts, advised on approach for request for data re: unaffiliated hack, refresh of eco council framework and research new functions for continuing decentralization structuring and discussions, calls with third parties to discuss trends/risks/latest structuring options, advised on MiCA and proposed US definition of exchange re: front-end and other confidential work

2- Advise Orb on wind down, managing GRC matters and advising on business implications re: people operations, vendor agreements, corporate governance, legal and regulatory risks of dissolution, advise on transition plans/structure for the team and liaise with tax and accounting advisors as needed

Advised on new proposals and new integrations SP, transition of books & records, tax/accounting wind down with experts, employee matters with Pilot and vendor/personnel advice to CEO and other confidential work

3- Advise Foundation and OpCo on transition of Orb work and dissolution, governance, decentralization and US regulatory advice

Advise on banking relationships, BVI VASP and FATF recent guidance, Personal liability mitigants re: corporate veil, year 2 proposal and calls with Cayman/BVI stakeholders and discussions to bolster framework for Foundation and its contributors, advised on sanctions reviews and new FATF guidance and other confidential work