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Crypto.com CEO Kris Marzalek stated 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 software obtainable to aim to stifle us, limiting entry to banking, auditors, buyers, and past,” he stated in a March 27 X publish. “It was a calculated try to put an finish to the trade.”
Crypto.com Accuses The SEC Of A “Misguided” Strategy To Digital Asset Regulation
The SEC’s choice 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” method to crypto regulation.
CRO Is High Performer Even Amid Token Burn Controversy
Traders 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, in response to CoinMarketCap. The pump made CRO the highest performing main crypto up 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 & Expertise entered right into a non-binding settlement with the trade.
Many stated that the transfer undermined the ideas of decentralization and transparency. Onchain investigator ZachXBT even went on to say that “CRO is not any totally different from a rip-off.”
CRO is not any totally different from a rip-off
Your crew simply reissued 70B CRO per week in the past that was beforehand burned “perpetually” in 2021 (70% complete provide) and went in opposition to the neighborhood needs as you management majority of the provision.
Not sure why Fact would selected a partnership along with your trade… pic.twitter.com/XNlusLDdZc
— ZachXBT (@zachxbt) March 25, 2025
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