Cryptocurrencies
Biggest Crypto Staker Warns on DeFi Challenges After SEC’s Kraken Crack Down
- DeFi project Lido has the largest staking service for Ether
- Andreessen Horowitz is among the investors in Lido Finance
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One of the individuals behind Lido Finance, the largest DeFi application for staking cryptocurrency, warned that service providers such as Lido are facing a new range of implications in the wake of the US Securities and Exchange Commission’s clampdown on the sector.
“I have been getting a lot more questions about ‘does this impact Lido, what are your thoughts on this?’” said Jacob Blish, head of business development at the decentralized autonomous organization, or DAO, that manages Lido Finance. “I personally think this is a net benefit for on-chain permissionless liquid staking or staking providers, but it really depends on what the final resolution is.”