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Crypto.com CEO Kris Marzalek mentioned that the US Securities and Change Fee (SEC) has closed its investigation into the crypto trade with out imposing a penalty or taking any authorized motion.
”They used each instrument obtainable to aim to stifle us, proscribing entry to banking, auditors, traders, and past,” he mentioned in a March 27 X publish. “It was a calculated try to put an finish to the business.”
Crypto.com Accuses The SEC Of A “Misguided” Method To Digital Asset Regulation
The SEC’s resolution to shut its investigation into Crypto.com comes after the company issued a Wells discover to the corporate in August that signaled its intention to take authorized motion in opposition to the crypto trade.
Crypto.com responded by submitting a lawsuit in opposition to the SEC in October. In its submitting, the trade accused the then Gary Gensler-led company of overstepping its authority and taking a “misguided” strategy to crypto regulation.
CRO Is Prime Performer Even Amid Token Burn Controversy
Buyers reacted positively to the information. The platform’s native Cronos (CRO) token pumped over 8% within the final 24 hours to commerce at $0.1093 as of 1:35 a.m. EST, based on CoinMarketCap. The pump made CRO the highest performing main crypto prior to now 24 hours.
Whereas CRO’s value might need risen, there may be nonetheless a cloud of controversy surrounding Crypto.com and its CRO token. It began when the trade introduced that it will likely be reissuing 70 billion tokens that have been burned in 2021, days earlier than Trump Media & Know-how entered right into a non-binding settlement with the trade.
Many mentioned that the transfer undermined the rules of decentralization and transparency. Onchain investigator ZachXBT even went on to say that “CRO isn’t any completely different from a rip-off.”
CRO isn’t any completely different from a rip-off
Your group simply reissued 70B CRO per week in the past that was beforehand burned “ceaselessly” in 2021 (70% whole provide) and went in opposition to the group needs as you management majority of the provision.
Uncertain why Reality would selected a partnership together with your trade… pic.twitter.com/XNlusLDdZc
— ZachXBT (@zachxbt) March 25, 2025
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