Amanda Fisher, head of former securities and exchange commissions (SEC) goods, is an IRE of the Crypto community after comparing liquid staging to the 2008 global financial crisis factors.
In an employee statement of Tuesday, the other said that it certainly does not consider staging activities for security proposals and, such as, they do not come for the purpose of the agency.
In a post on X, Fisher compared live staging activities for the use of Lehman Brothers of client assets as collateral for firm transactions. The collapse of the investment bank was seen as the climax of the 2008 financial crisis.
“Secus Crypto Giveaway is to be blessed with Rehypothecation’s SEPE that has crates Lehman brothers – only worships it in crypto because you can worship it. Fisher said.
Secondian Krench also criticized the move on Tuesday. He said that security rushed to the donkey and provided some regulator clarity.
On the other hand, SEC Commissioner Hester M. Peerus supported the agency’s decision. “Liquid staging is a new solution to a chronic problem,” the Peerus said in an official SEC position. He compared live staging to a practical that improves the liquidity of fungus goods.
Fisher’s comment sparks backlash
Fisher’s comment was not sitting well with the Crypto community, widely seen the new other as a win for decentralized finance and institute Crypto adoption.
“At first you say that SEC is shining Crypto. Then you say Crypto has no SEC oversight. Venka’s Digital Assets Research head Matthew Sigale said in a reply on X.
Fisher replied to Sigale, clarifying that “blessings” are liquid stacking as being out of the scope of second securities and thus not subject to its jurisdiction.
Helius Labs CEO Mart Mumtaz compared the transparent decentralized nature of the blockchain to the opaque banking system.
“You don’t know how LSTS actually works or being formally formed,” Mumtaz said.
Jason Gotlyb, a new York -based lawyer, said Fisher’s comment was neither “technical or legally” right.
“If the blockchain-based rehipotheation was around 2008, we did not have the issues we did,” Gotlib said.
Resurgence in TVL
The liquid staging protocol currently has a total value of $ 66.94 billion (TVL) in all protocols, which is 14.5% year-to-year. However, TVL declined to blowing $ 30 billion in April, united for Difilama.
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Lido Finance currently dominates the category with a market share of 48%. Its TVL is 31.88 billion, which is 1.5% year-on-year.
Meanwhile, the second largest liquid staging service, Benance, saw Ath an increase of about 90%on stacked Ath, as its TVL current is $ 6.05 billion at the beginning of the year $ 11.4 billion.
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