Binance News: SEC Drops Probe Against Crypto.com Without Taking Any Action

In a recent development, the United States Securities and Exchange Commission (SEC) has officially dismissed its case against the popular cryptocurrency exchange Crypto.com, marking the end of a probe that had raised concerns about regulatory overreach.

SEC Officially Drops Crypto.com Probe, No Action Taken

The US SEC has dismissed the case against Crypto.com, which was previously accused of regulatory overreach, without any enforcement actions. CEO Kris Marszalek confirmed that the probe has been closed with no action being taken against Crypto.com. Following a Wells Notice received in October 2024, indicating potential enforcement action related to its token sales, Crypto.com filed a lawsuit arguing that the SEC was overstepping.

Whale Unstakes $30K SOL and $11.97M USDC, Faces $1.24M Loss

A whale recently unstaked $30,000 worth of Solana (SOL) and approximately $11.97 million in USD Coin (USDC) from Drift Protocol after a 2 to 3-month period. The whale then transferred these assets to Binance, one of the world’s leading cryptocurrency exchanges. This large-scale move has raised concerns in the crypto community, with analysts predicting potential implications on market liquidity and price action. According to Onchain Lens, the whale lost $1.24M in SOL value during this process.