SEC Investigating DeFi Protocol BarnBridge, BOND Falls 8%

BarnBridge DAO was advised to cease all work related to the protocol and halt compensation to individual contributors.Legal counsel Douglas Park also told the team to close existing liquidity pools due to an ongoing investigation by the SEC.The protocol with over $1.2 million in TVL is the latest target subject of the SEC’s crypto crackdown. The U.S. Securities and Exchange Commission (SEC) is investigating decentralized finance service BarnBridge as the regulator tightens the noose around cryptocurrency activity in the United States.