Did the SEC shut down a $75 million Crypto Metaverse fund?

Has the Securities and Exchange Commission (SEC) taken action to halt the operations of a cryptocurrency-based Metaverse fund reportedly worth $75 million? If so, what were the specific allegations or violations that led to this decision? What impact could this have on the broader cryptocurrency and Metaverse sectors, considering the potential significance of this fund? Additionally, are there any legal proceedings or investigations currently ongoing against the fund or its operators?