Company: DEFI
Filing Date: 2025-03-27
Form Type: 424B3
Source: 0001999371-25-003249
Chunk: 148

Company: Tidal Commodities Trust I
Filing Date: 2025-03-27
Form: 424B3
Chunk 148
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.04 by engaging in improper pre-hedging and adopting a risk policy that may have motivated employees to engage in improper 
 pre-hedging for certain contracts. In addition, the Committee found that StoneX Financial Inc. and StoneX Markets LLC may have   
 violated Exchange Rules 4.01(a), 4.07(c), and 21.04. In accordance with the settlement offer, in which StoneX Financial Inc. and 
 StoneX Markets LLC neither admitted nor denied the alleged rule violations, StoneX Financial Inc. and StoneX Markets LLC agreed  
 to pay a collective monetary penalty of $425,000 and disgorge $225,606.80 in profits.                                            |

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| ● | On March 23, 2021, a subcommittee of the ICE Futures US’s Business Conduct Committee determined                                      
 that in numerous instances between February 2019 and May 2020, StoneX, formerly INTL FCStone Financial Inc., may have violated       
 Exchange Rule 6.15(a) by failing to submit to the Exchange daily large trader reports on reportable customer positions and Exchange  
 Rule 4.01(a) by failing to have proper processes for reporting large trader positions. The ICE Futures US Business Conduct Committee 
 imposed a $75,000 fine on StoneX Financial Inc. which was effective on March 23, 2021.                                               |

| ● | After a historic move in the natural gas market in November of 2018, INTL FCStone Financial Inc.                                      
 - FCM Division (“IFF”) experienced a number of customer deficits. IFF soon thereafter initiated NFA arbitrations, seeking             
 to collect these debits, and has also been countersued and sued in a number of these arbitrations. These accounts were managed        
 by Optionsellers.com, (“Optionsellers”) who is a Commodity Trading Advisor (“CTA”) authorized by investors                            
 to act as attorney-in-fact with exclusive trading authority over these investors’ trading accounts. These accounts cleared            
 through IFF. After this significant and historic natural gas market movement, the accounts declined below required maintenance        
 margin levels. IFF’s role in managing the accounts was limited. As a clearing firm, IFF did not provide any investment advice,        
 trading advice, or recommendations to customers of Optionsellers who chose to clear with IFF. Instead, it simply executed and cleared 
 trades placed by Optionsellers on behalf of Optionsellers’ customers. Optionsellers is a CFTC registered