The U.S. Securities and Exchange Commission (SEC), led by Gary Gensler, has launched legal actions against Consensys, Lido Finance, and Rocket Pool, alleging that their Ethereum staking programs operate as unregistered securities. The SEC's move has caused significant market reactions, with Lido (LDO) and Rocket Pool experiencing sharp declines of 15% and 10% respectively within 24 hours. This lawsuit adds to a growing list of SEC actions against prominent crypto entities, including Uniswap, Kraken, Coinbase, MetaMask, and Robinhood. Biden's SEC's aggressive stance is seen as part of a broader regulatory crackdown on the cryptocurrency industry.
SEC has sued Consensys over allegations of securities violations and Lido (LDO) and Rocket Pool have dumped hard, down 15% and 10% in 24 hours respectively https://t.co/HGyVv0hTLH
Gary Gensler's SEC just dropped lawsuits on Lido and Rocketpool. Another attack on crypto. Biden's SEC now has lawsuits against: 1. uniswap 2. kraken 3. coinbase 4. metamask 5. robinhood 6. lido 7. rocketpool These are projects and companies beloved by U.S. crypto users - the…
The new @SECGov lawsuit really gives @Consensys more ammo for its own lawsuit over SEC overreach! No wonder no ETF providers are asking for staking in their S1s. Ethereum is ok but as long as you don't stake it...? FFS https://t.co/xNu6tuJ5G0 https://t.co/rhOTRpXtgm
JUST IN The SEC has launched another attempt to bring legal action against Consensys. The agency claims liquid staking protocols Lido and Rocket Pool operate as unregistered securities. Read more here: https://t.co/AiyDtFfj1K https://t.co/hQm708UnPd
Breaking: @SECGov says @LidoFinance and @RocketPool_Fi Ethereum staking programs are unregistered securities. IMO: Lets be clear. If promises are made between individuals and human counterparties these products are arguably a security requiring protection. If the interaction is…