BarnBridge DAO calls halt to ‘all work’ on DeFi protocol amid SEC probe
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BarnBridge DAO members have been told to pause “all work” related to the project after a reported probe by the United States Securities and Exchange Commission (SEC).
In a July 6
BarnBridge is a cross-platform risk management DeFi protocol that attempts to tackle inflation risk and interest rate volatility.
Since the news emerged, the price of its native token BOND has fallen 1.9% to $3.12, according to CoinGecko. The token is down 98.3% since its all-time high price of $185.7 on Oct. 27, 2020, and currently has a market cap of $29 million.
Early last month, the SEC filed lawsuits against two of the industry’s largest exchanges Binance and Coinbase, alleging they offered unregistered securities.
The reported investigation into BarnBridge, a small to mid-sized DAO, could suggest the securities regulator isn’t just looking to target the crypto space’s largest organizations.
Cointelegraph contacted the SEC for comment but did not receive an immediate response.
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