Company: DEFI
Filing Date: 2025-03-27
Form Type: 424B3
Source: 0001999371-25-003249
Chunk: 149

Company: Tidal Commodities Trust I
Filing Date: 2025-03-27
Form: 424B3
Chunk 149
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 CTA operating under          
 a CFTC Rule 4.7 exemption from registration. Optionsellers engaged in a strategy that primarily involved selling options on futures   
 products. The arbitrations between IFF, Optionsellers, and the Optionsellers customers are currently ongoing.                         |

Further, StoneX Financial Inc. is subject
to litigation and regulatory enforcement in the normal course of business. Except as discussed above, the current or pending civil
litigation or administrative proceedings in which StoneX Financial Inc. is involved are not expected to have a material effect
upon its condition, financial or otherwise. StoneX Financial Inc. vigorously defends, as a matter of policy, civil litigation,
reparation, arbitration proceedings, and enforcement actions brought against it.

Litigation disclosure for Phillip Capital

Phillip Capital Inc. (“Phillip Capital”)
is a registered futures commission merchant and is a member of the NFA. Its main office is located at 141 West Jackson Blvd., Suite
1531A, Chicago, Illinois 60604. In the normal course of its business, Phillip Capital is involved in various legal actions incidental
to its commodities business. None of these actions are expected either individually or in aggregate to have a material adverse
impact on Phillip Capital. Except for the below, neither Phillip Capital nor any of its principals have been the subject of any
material administrative, civil or criminal actions within the past five years.

On September 12, 2019, the U.S. Commodity
Futures Trading Commission issued an order settling charges against Phillip Capital Inc. (PCI) for allowing cyber criminals to
breach PCI email systems, access customer information, and successfully withdrawing $1 million in PCI customer funds. The order
found that PCI failed to disclose the cyber breach to its customers in a timely manner and that PCI failed to supervise its employees
with respect to cybersecurity policy and procedures, a written information systems security program, and customer disbursements.
The order imposed monetary sanctions totaling $1.5 million, which includes a civil monetary penalty of $500,000, and $1 million
in restitution. PCI was credited the $1 million restitution based on its prompt reimbursement of the customer funds when the fraud
was discovered. The order also required PCI to, among other things, provide reports to the Commission on its remediation efforts.

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On June 11, 2021, pursuant to an offer of
settlement in which Phillip Capital Inc. neither admitted nor denied the rule violation upon