Why Coinbase, Silvergate, and Lido DAO Are All Down on Monday
Shares of crypto companies dropped on Monday as the U.S. government continues to crack down on major parts of the industry.
Shares of Coinabse Global (NASDAQ: COIN) fell as much as 6% in early trading, Silvergate Capital (NYSE: SI) dropped 6.5%, and Lido DAO (CRYPTO: LDO) was down 11.3% in the last 24 hours. They were down 1.5%, 5%, and 11.3% respectively at 12:30 p.m. ET.
Last week, the U.S. Securities and Exchange Commission (SEC) shut down exchange Kraken's staking platform, arguing that it was a security. Today, the New York Department of Financial Services said it will sue Paxos for selling stablecoin (a token pegged to a traditional currency) BUSD as an unregistered security.
Source Fool.com
