Ethereum & Silvergate you actually cannot make this up.
Updated
I mean when a banks entire operation is based on registered securities sales, NFTs, ponzi scheme yields.
Does make you wonder how long does Ethereum have left if it runs on the similar ecosystem?
Will be interesting to watch this unfold, even though Ethereum developers locked tokens, what happens when the web3 companies are forced to liquidate after a visit from the SEC?
I would not be surprised if Ethereum would be under $200 right about now if the developers did not force lock liquidity.
What I suspect could unfold is a giant move back into Bitcoin out of Ethereum. . .
Note
wells notice issued by SEC to Ethereum foundation + Lido and all DeFi apps.
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