Lido and Rocket Pool Tokens Drop After SEC Sues Consensys
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On Friday, the prices of Lido DAO (LDO) and Rocket Pool (RPL) sharply dropped after the SEC sued Consensys. At the time of writing, LDO is down 15% and RPL is down 10%, as the market reacts to the latest regulatory news.
Ethereum (ETH) also slipped, losing nearly 3%, while Maker (MKR), Uniswap (UNI), and Arbitrum (ARB) traded lower. This fall is due to the US Securities and Exchange Commission (SEC) suing Consensys, the Ethereum software company behind the MetaMask crypto wallet.
The SEC’s conclusion of its probe into Ethereum 2.0 suggested a shift in the regulator’s stance on altcoins. Earlier in May, the SEC had approved spot Ethereum ETFs for the US market, signaling a more favorable outlook.
