Summary of SEC lawsuit against Consensys
On the evening of June 28, the US Securities & Exchange Commission (SEC) sued Consensys, MetaMask's parent company, over the LDO (Lido) and RPL (Rocket Pool) token staking programs, alleging they are unregistered securities.
The SEC alleges that Consensys acted as an unregistered securities broker through the MetaMask Swaps service, earning more than $250 million from these activities. After this information, the LDO token price decreased by 15.5% and RPL decreased by nearly 9%, ETH also reacted to the news by decreasing by 1.5% and trading at 3390 USD. This lawsuit is a response to Consensys suing the SEC to refute allegations related to MetaMask Swaps and staking services.
