BarnBridge, a cryptocurrency project, is facing legal action from the US Securities and Exchange Commission (SEC). In response, the project has turned to its token holders for support. A voting process was initiated, and the proposal to grant the project’s creators the authority to comply with the SEC’s directives was unanimously approved. This includes paying any disgorgement amounts required by the SEC and authorizing the project’s legal counsel to sign the final version of the order. The founders’ intention to adhere to the regulator’s requests indicates a winding down of operations. BarnBridge’s related products, such as liquidity pools, were halted earlier to minimize legal liability. As a result, the project’s native token, BOND, has lost nearly 50% of its value, and its trading on Coinbase has been suspended.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	Douglas Park, Tyler Ward, Troy Murray
Companies	US Securities and Exchange Commission (SEC), DeFi protocol, BarnBridge, Treasury, Coinbase, Douglas Park
Currencies	BarnBridge
Securities	None