SEC Drops Case In opposition to Crypto.com, CRO Soars 8%

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Crypto.com Accuses The SEC Of A “Misguided” Strategy To Digital Asset Regulation CRO Is High Performer Even Amid Token Burn Controversy Associated Articles:

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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 device obtainable to try to stifle us, limiting entry to banking, auditors, buyers, and past,” he mentioned in a March 27 X submit. “It was a calculated try to put an finish to the trade.”

SEC Drops Case In opposition to Crypto.com, CRO Soars 8%

Crypto.com Accuses The SEC Of A “Misguided” Strategy To Digital Asset Regulation

The SEC’s determination 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, based on CoinMarketCap. The pump made CRO the highest performing main crypto previously 24 hours.

Whereas CRO’s value might need risen, there’s nonetheless a cloud of controversy surrounding Crypto.com and its CRO token. It began when the trade introduced that will probably be reissuing 70 billion tokens that had 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 ideas of decentralization and transparency. Onchain investigator ZachXBT even went on to say that “CRO isn’t any totally different from a rip-off.”

CRO isn’t any totally different from a rip-off
Your group simply reissued 70B CRO per week in the past that was beforehand burned “ceaselessly” in 2021 (70% complete provide) and went in opposition to the neighborhood 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