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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 alternate with out imposing a penalty or taking any authorized motion.
”They used each software out there to try to stifle us, proscribing entry to banking, auditors, traders, and past,” he stated in a March 27 X put up. “It was a calculated try to 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 in opposition to the crypto alternate.
Crypto.com responded by submitting a lawsuit in opposition to the SEC in October. In its submitting, the alternate 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, in accordance with 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 alternate introduced that will probably 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 alternate.
Many stated 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 staff simply reissued 70B CRO every week in the past that was beforehand burned “endlessly” in 2021 (70% complete provide) and went in opposition to the group needs as you management majority of the availability.
Not sure why Reality would selected a partnership together with your alternate… pic.twitter.com/XNlusLDdZc
— ZachXBT (@zachxbt) March 25, 2025
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