According to CoinDesk, encryption podcast host David Hoffman said on Friday that he heard that Lido and other cryptocurrency projects have received a Wells notice from the US Securities and Exchange Commission (SEC). A letter from the committee detailing the charges it was considering against the recipient.) But then he walked back that claim, saying “members of the Lido team have contacted me to say it’s false.” Affected by this news, Lido token LDO fell by 10% on Saturday. Andrew Thurman of encryption analysis company Nansen said on Twitter that Wintermute, one of the largest encryption market makers, sold about 10% of its LDO holdings. That's $2 million. According to the market, LDO is currently trading at 2.64 USDT, a drop of 5.8% in the past 24 hours.