Amanda Fischer’s Critique of SEC Liquid Staking Guidance Sparks Controversy in Crypto Community

Key Points

1. SEC Commissioner Caroline Crenshaw criticized the SEC's liquid staking guidance for lacking clarity.

2. Former SEC chief Amanda Fischer compared liquid staking to factors that exacerbated the 2008 financial crisis, sparking backlash from the crypto community.

3. SEC Commissioner Hester M. Peirce supported the agency's decision, likening liquid staking to a practice that improves liquidity for fungible goods.

4. Liquid staking protocols have a total value locked (TVL) of $66.94 billion, with Lido Finance leading at $31.88 billion (48% market share).

5. Binance Staked ETH, the second-largest liquid staking service, saw its TVL surge by almost 90% to $11.4 billion.