Coin Edition -
- Coinbase (NASDAQ:COIN) CEO boosts rumor that US SEC might ban staking for retail customers.
- Liquid staking platform Lido’s governance token LDO surged 11% after the news.
- Currently, the LDO token is up by 8.4%
The liquid staking platform Lido’s governance token has spiked after Coinbase CEO Brian Armstrong cultivated a rumor that the US Securities and Exchange Commission (SEC) might ban staking for retail users.
1/ We're hearing rumors that the SEC would like to get rid of crypto staking in the U.S. for retail customers. I hope that's not the case as I believe it would be a terrible path for the U.S. if that was allowed to happen.— Brian Armstrong (@brian_armstrong) February 8, 2023
Subsequently, the decentralized autonomous organization’s (DAO) governance token, LDO, increased about 11% in response to the comments and is currently up by almost 8.4% in the last 24 hours, according to Coindesk’s dashboard.
LDO Price Chart
Ether can be staked via the Lido protocol, which is controlled by the LDO token. After the “Shanghai” network upgrade, which will take place next month, users will receive a token called “stETH” that reflects their staked position in ethe…
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