There has been some quick selling in ethereum after a Coindesk report saying that the Ethereum Foundation is under investigation by a 'state authority'.

The Ethereum Foundation – the Swiss non-profit organization at the heart of the Ethereum ecosystem – is under investigation by an unnamed "state authority," according to the group's website's GitHub repository.
The scope of the investigation and its focus was unknown at press time. According to the GitHub commit dated Feb. 26, 2024, "we have received a voluntary enquiry from a state authority that included a requirement for confidentiality."

The story appears to highlight that February 26 change along with the removal of a disclosure that said the foundation had never been contacted by a regulatory agency. It's some good sleuthing but I'm not sure it represents a big threat. Perhaps the worry is that it delays a possible ETF.

ETH 5 mins