Former Securities and Exchange Commission (SEC) Chief of Staff Amanda Fischer has aroused anger from the cryptocurrency community after comparing liquid distillation with factors that aggravated the 2008 global financial crisis.
In a staff statement Tuesday, the Securities and Exchange Commission said it would not consider Some liquids are safe to put into activity Therefore, they do not fall under the authority of the institution.
In a post on X, Fischer Comparative Lehman Brothers uses client assets as liquid accumulation activity for collateral for company transactions. The collapse of investment banks is seen as the culmination of the 2008 financial crisis.
“The latest crypto giveaway from the SEC is a blessing to the same type of re-domination as the Lehman Brothers – only in cryptocurrencies, which is worse because you can do without any SEC or feeding,” Fischer said.
SEC Commissioner Caroline Crenshaw also criticized the move on Tuesday. She said SEC statement Relying on assumptions, there is little regulation clear.
On the other hand, SEC Commissioner Hester M. Peirce supported the agency’s decision. “Liquid evaporation is the new solution to old problems,” Perles said in the official SEC. statement. She compared liquid feeding with practices that improved timely commodity liquidity.
Fischer’s comments spark rebound
Fischer’s comments are not very good with the cryptocurrency community, which widely believes the new SEC guidance is a victory for decentralized financial and institutional cryptocurrencies.
“First of all, you say that the SEC is blessing crypto. Then you say that cryptocurrencies are not supervised by the SEC. Which one is this? Matthew Sigel, head of digital assets research at Vaneck, explain In the reply on X.
Fischer answered Siegel, clarifying that the SEC is a point for “blessing” liquid because it is not within the scope of the securities and is therefore not subject to its jurisdiction.
Mert Mumtaz, CEO of Helius Labs, Comparative The transparent and decentralized nature of blockchain to opaque banking systems.
“You either don’t know how LST actually works, or you’re intentionally blunt,” Mumtaz added.
New York lawyer Jason Gottlieb, explain Fischer’s comment is neither technically or legally correct.
“If blockchain-based re-dominated emerged in 2008, we wouldn’t have had problems,” Gottlieb said.
Revival in TVL
Currently, the total value lock-in (TVL) of the liquid mean protocol is US$66.94 billion, 14.5% expiring from the year. However, TVL briefly fell below $30 billion in April according to Go to Defilama.
Related: Send liquid stationary tokens on Solana with support from Coinbase, Kraken, Galaxy
Lido Finance currently has a market share of nearly 48%. Its TVL stands 31.88 billiondown 1.5% year to date.
Meanwhile, Binance Stokaked Eth, the second largest liquid evaporation service, surged by nearly 90% as its TVL is currently on $11.4 billion By comparison, it was $6.05 billion at the beginning of the year.
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