Company: DEFI
Filing Date: 2025-03-25
Form Type: POS AM
Source: 0001999371-25-003118
Chunk: 148

Company: Tidal Commodities Trust I
Filing Date: 2025-03-25
Form: POS AM
Chunk 148
---
 the Authorized Purchasers, LPs, market makers, FCMs and Bitcoin
Custodian. Each Authorized Purchaser, LP, and market maker must undergo onboarding by the Sponsor prior to placing creation or
redemption orders with respect to the Fund. As a result, the Sponsor and the Trust have instituted procedures designed to ensure
that a situation would not arise where the Trust would engage in transactions with a counterparty whose identity the Sponsor and
the Trust did not know.

Furthermore, Authorized Purchasers, as broker-dealers,
FCMs, and Bitcoin Custodian, as an entity licensed to conduct virtual currency business activity by the New York Department of
Financial Services and a limited purpose trust company subject to New York Banking Law, respectively, are “financial institutions”
subject to the U.S. Bank Secrecy Act, as amended (“BSA”), and U.S. economic sanctions laws. The Trust will only accept
creation and redemption requests from Authorized Purchasers, LPs, and market makers who have represented to the Trust that they
have implemented compliance programs that are designed to ensure compliance with applicable sanctions and anti-money laundering
laws. The Cash Custodian and Bitcoin Custodian have adopted and implemented anti-money laundering and sanctions compliance programs,
which provides additional protections to ensure that the Sponsor and the Trust do not transact with a sanctioned party.

Legal Counsel

Eversheds Sutherland (US) LLP serves as
legal counsel to the Fund and the Trust.

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Litigation disclosure for StoneX

Listed below are material administrative,
civil, enforcement, or criminal complaints or actions filed against StoneX Financial Inc. – FCM Division (f/k/a INTL FCStone
Financial Inc. - FCM Division) where such complaints or actions have not concluded and any material enforcement actions or complaints
filed against the StoneX Financial Inc. - FCM Division in the past three years.

| ● | On October 18, 2023, a subcommittee of the Exchange’s Business Conduct Committee (“BCC”)                                                
 determined that StoneX Financial Inc. (“StoneX”) may have violated Exchange Rules 4.15(a), 4.15(b), and 4.15(c)                         
 by failing to include a unique ID for Registered Operators on certain orders and trades it transmitted to the Exchange. For             
 a period of over four years, from February 2018 through the beginning of August 2022, StoneX, acting as a Futures Commission            
 Merchant, failed