The former SEC chief of staff compared liquidity pledges to the Lehman Brothers incident, and the crypto industry hit back

Amanda Fischer, who served as Chief of Staff under former SEC Chairman Gary Gensler, said on Monday that liquidity staking could trigger a Lehman Brothers-style collapse in the cryptocurrency market. She claimed the SEC's stance is "endorsing double-collateralization" because liquidity staking creates synthetic tokens through intermediaries, allowing assets to be reused and amplifying risks due to decentralization, similar to the practices used by Lehman Brothers. This statement was strongly refuted by the cryptocurrency industry.