Ethereum News Daily TheBitTimes.com

DeFi protocol BarnBridge says it has drawn attention of the US Securities and Exchange Commission (SEC), although has stopped short of explaining exactly what for. In a Discord screenshot, later tweeted by BarnBridge’s official handle, elected legal counsel Douglas Park said the DAO and associated individuals were under SEC investigation . “Because the SEC’s investigation is ongoing and non-public, I am limited in the information that I will share publicly,” Park said. The update was later confirmed by BarnBridge CEO Tyler Ward. BarnBridge products, powered by Ethereum, focus on tokenizing risk exposure. They aim to provide crypto users new ways to hedge their positions. Blockworks has reached out to BarnBridge for comment. In a bid to reduce further legal liability, BarnBridge is shutting all existing liquidity pools (deployed to Ethereum, Arbitrum and Optimism) while restricting the creation of new ones, per the statement. About $1.2 million is currently in those pools. All w...

Join Our Telegram channel to stay up to date on breaking news coverage According to a dozen people with knowledge of the investigation, federal prosecutors are closely looking at an expanding number of individuals connected to Sam Bankman-Fried‘s dismantled cryptocurrency empire, including his father, brother, and former coworkers. The investigation is one of the largest financial crime cases to be investigated in the United States in more than a decade. A special task force has been established by the Manhattan office of the U.S. attorney to carry out the inquiry into the demise of FTX, the crypto exchange Bankman-Fried founded. More than a dozen prosecutors are constructing the criminal case and locating the billions of dollars in client funds that Bankman-Fried is accused of misappropriating, under the direction of Damian Williams, the U.S. attorney for the Southern District of New York. According to several sources with knowledge of the investigation, prosecutors ha...