DeFi Protocol BarnBridge Faces Investigation by U.S. SEC

A small DeFi protocol, BarnBridge (BOND), has become the latest victim of the U.S. Securities and Exchange Commission (SEC), which has been targeting the cryptocurrency market with its ongoing investigations. While details of the investigation have not been disclosed yet, it is expected that the DeFi protocol will preemptively close its liquidity pools. Investigation Announced by BarnBridge DAO’s Lawyer The SEC, which made a significant impact in June with lawsuits against Binance, Binance CEO CZ, and Coinbase, has now launched an investigation into DeFi protocol BarnBridge. Last week, newly appointed lawyer Douglas Park of BarnBridge DAO, which operates the protocol, recommended suspending all products linked to BarnBridge. Although the details of the investigation have not yet been disclosed, Park reported that the SEC is investigating BarnBridge and individuals associated with the protocol. To minimize potential legal liability, Park suggested, “Existing liquidity pools should be closed, and no new liquidity pool […] The post DeFi Protocol BarnBridge Faces Investigation by U.S. SEC appeared first on COINTURK NEWS.