Lido Finance, one of the largest liquid staking programs with over 5 million staked Ethers, has issued uncertainty concerns on the status of Decentralized Financial ecosystems (DeFi) following last week’s $30 million settlement of Kraken exchange with the U.S SEC.
SEC chair Garry Gensler argued that crypto companies offering staking programs have to register for a securities sale clearance. While advocating for more disclosure from crypto staking programs, Gensler is likely to be coming for more companies including Coinbase Global Inc., and Lido Finance.
Source: https://coinpedia.org/news/is-defi-in-trouble-largest-crypto-staker-lido-sounds-alarm-after-secs-kraken-crackdown/