According to Golden Finance, Ethereum infrastructure development company Consensys issued a statement saying that if the U.S. Securities and Exchange Commission (SEC) successfully designates ETH as a security, the company and developers' years of work will be wasted, billions of dollars of economic value will be destroyed, and this may lead to widespread unemployment of American workers.
![](https://public.bnbstatic.com/image/cms/content/body/202404/b78fcb38a536442436d21f7ac1725508.png)