Due to rumors that Lido received a Wells notice from the U.S. SEC, its token LDO dropped by 10%

2023-03-05 12:13:21

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ChainCatcher news, according to CoinDesk, crypto podcast host David Hoffman stated on Friday that he heard Lido and other cryptocurrency projects have received Wells notices from the U.S. Securities and Exchange Commission (SEC) (a Wells notice is a letter from the SEC detailing the charges it is considering against the recipient). However, he later retracted this statement, saying, "Members of the Lido team have contacted me saying this is false."

As a result of this news, Lido's token LDO dropped by 10% on Saturday. Andrew Thurman from crypto analytics firm Nansen stated on Twitter that one of the largest crypto market makers, Wintermute, sold about 10% of its holdings in LDO, amounting to $2 million. According to market data, LDO is currently priced at 2.6 USDT, with a nearly 24-hour decline of 6.0%. (source link)

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