Cronos (CRO) Surges Over 10% as SEC Drops Investigation into Crypto.com
Big win for Crypto.com! Cronos (CRO), the native token of the popular crypto exchange, skyrocketed over 10% on Thursday after the Securities & Exchange Commission (SEC) officially closed its investigation into the company with no legal action. And this could be just the beginning of a bullish wave for CRO!
SEC Ends Investigation with No Legal Action
In a major relief for the crypto community, Crypto.com confirmed in a press release that the SEC has concluded its investigation without pursuing any charges or enforcement actions.
This marks a significant shift under the SEC’s new leadership, which seems to be scaling back its aggressive enforcement against crypto firms.
Nick Lundgren, Chief Legal Officer of Crypto.com, celebrated the outcome, saying:
“We are pleased that the current SEC leadership has made the decision to close its investigation into Crypto.com with no enforcement action or settlement.”
From Lawsuit to Victory: How Crypto.com Fought Back
Just last August, the SEC issued a Wells notice to Crypto.com, signaling its intent to take legal action. In response, the exchange fought back, suing the agency for regulatory overreach.
However, in a surprising turn of events, Crypto.com voluntarily withdrew its case in December—right after a meeting with President Donald Trump before his inauguration. This strategic move paved the way for today’s victory.
Trump Media Joins Forces with Crypto.com
But that’s not all—Crypto.com’s winning streak continues!
Earlier this week, Trump Media & Technology Group (TMTG) announced a non-binding partnership agreement with Crypto.com to launch its own exchange-traded funds (ETFs). With Crypto.com serving as the official token supplier, this deal could bring even more mainstream exposure to the exchange.
CRO’s Explosive Rally: What’s Next?
Following the SEC announcement, CRO surged over 10%, extending its weekly gains past 40%. Could this be the start of a massive rally? Many investors seem to think so!
Controversy Sparks Debate: Token Manipulation Allegations
Not everyone is celebrating, though. On-chain investigator ZachXBT recently accused Crypto.com of token manipulation, alleging that the exchange plans to reissue 70 billion CRO tokens that were removed from circulation in 2021.
Critics argue that this move could undermine decentralization and transparency—key values in the crypto world. Crypto.com has yet to respond to these claims, but the debate is heating up.
Final Thoughts: A Defining Moment for Crypto.com
With the SEC investigation closed, a high-profile partnership with Trump Media, and CRO surging in value, Crypto.com is riding high. However, lingering concerns over token issuance could pose future challenges.
So, what’s next for CRO? Will it continue its bullish momentum, or will controversy slow it down? Drop your thoughts in the comments!
