The SEC, which has increased its pressure with the lawsuits it has filed against the leading crypto money exchanges Coinbase and Binance, continues its pressure on the crypto money sector.
In this context, the SEC's latest move came against the DeFi protocol BarnBridge.
In a Discord message shared by Coindesk, Barnbridge DAO's attorney Douglas Park said that BarnBridge DAO and its affiliates are under investigation by the SEC.
“As attorney for DeFi protocol BarnBridge DAO, I inform you that the U.S. Securities and Exchange Commission is investigating the Barnbridge DAO and associated individuals.
“As the SEC's investigation is ongoing and not publicly available, the information and documents I can share with the public are limited.”
Lawyer Douglas Park also stated in his statement that the SEC has some demands.
At this point, Park stated that the SEC also requested that the existing liquidity pools of the platform be closed and that no new liquidity pools should be opened.
It was stated that the SEC's demands included stopping all work on the products on the platform and not making any payments to anyone associated with BarnBridge.
BarnBridge's BOND token, which is listed on Binance, fell after the Discord message shared by Park. BOND, which fell below $3, continues to trade at $3.05 at the time of writing.
*Not investment advice.
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Great