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Boosted by kornel ("Kornel"):
molly0xfff@hachyderm.io ("Molly White") wrote:
The Acting Director of the SEC is looking to rescind or modify even more previous crypto guidance based on “recommendations from DOGE”.
And the agency has dropped even more investigations and lawsuits, including against Trump business partner Crypto.com.
![The SEC investigation into Crypto.com has been terminated, and the agency will not pursue any enforcement action.20 This is hardly surprising given the flood of dropped SEC lawsuits and closed investigations targeting the industry, but it’s especially unsurprising given that, three days earlier, Trump Media picked Crypto.com as a partner to launch various exchange-traded funds [I80]. I noted in February that, despite the Winklevoss twins’ victory screeches, it wasn’t clear that the ongoing lawsuit regarding the Gemini Earn product had actually been dropped [I78]. The lawsuit was filed against Gemini and Genesis Global Capital in January 2023 after Gemini customers lost access to almost $1 billion in funds as the two companies halted withdrawals [I16], and Genesis settled their portion of the case for $21 million in March 2024 [I50]. The portion against Gemini had been ongoing until an April 1 joint request for a 60-day stay to “allow the parties to explore a potential resolution”.21 This is the same language that’s been used to halt the SEC cases against companies like Coinbase and Tron, and it’s widely understood that these mark the end of SEC scrutiny for these companies. Even “Hawk Tuah girl” is out of the woods, recently telling TMZ that the SEC had closed its investigation into the memecoin flop [W3IGG] that became emblematic of the memecoin world and — particularly lately — crypto as a whole.22](https://files.mastodon.social/cache/media%5Fattachments/files/114/304/388/568/552/010/original/c565a1ee85bbbb0a.png)