Fortune, one of the US media, wrote that the US Securities and Exchange Commission (SEC) is behind the investigation into the Ethereum Foundation. The financial media giant also stated that the SEC also sent a letter requesting information and documents to some US companies that it thinks have a relationship with the Ethereum Foundation.

“Pressure for Ether”

In Fortune’s news, it was claimed that the SEC pressured companies to see Ether as an investment contract and requested “any documents or information” that could show ties to the Ethereum Foundation.

Fortune, who also spoke to the manager of one of the companies to which these requests went, also touched on the “staking” system. While the news included the words of the manager of the company, whose name was kept confidential, the manager said, “The SEC first pressed the button when Ethereum switched to Proof of Stake.” As it will be remembered, Ethereum successfully completed the Merge update in September 2022 and switched to Proof of Stake (PoS).

Following the investigation into the Ethereum Foundation and the news that this investigation was initiated by the SEC, Bitcoin fell below $63,000 and Ether fell below $3200.