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Crypto.com CEO Kris Marzalek mentioned that the US Securities and Trade Fee (SEC) has closed its investigation into the crypto trade with out imposing a penalty or taking any authorized motion.
”They used each instrument accessible to try to stifle us, limiting entry to banking, auditors, buyers, and past,” he mentioned in a March 27 X publish. “It was a calculated try and put an finish to the trade.”
Crypto.com Accuses The SEC Of A “Misguided” Method 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 towards the crypto trade.
Crypto.com responded by submitting a lawsuit towards 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 worth might need risen, there’s nonetheless a cloud of controversy surrounding Crypto.com and its CRO token. It began when the trade introduced that it is going to 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 mentioned that the transfer undermined the rules of decentralization and transparency. Onchain investigator ZachXBT even went on to say that “CRO is not any completely different from a rip-off.”
CRO is not any completely different from a rip-off
Your crew simply reissued 70B CRO every week in the past that was beforehand burned “endlessly” in 2021 (70% complete provide) and went towards the group needs as you management majority of the provision.
Not sure why Reality would selected a partnership along with your trade… pic.twitter.com/XNlusLDdZc
— ZachXBT (@zachxbt) March 25, 2025
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