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SEC Drops Hammer—Then Backpedals on Crypto Influencer Ian Balina’s Securities Case
SEC Drops Hammer—Then Backpedals on Crypto Influencer Ian Balina’s Securities Case
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Regulators blink first in high-stakes showdown with crypto’s loudest voices. The SEC just filed to dismiss its own lawsuit against Ian Balina—the promoter who turned ’shitcoin shilling’ into an art form. Was this a strategic retreat or proof the agency’s playing whack-a-mole with one hand tied?
Behind the scenes: Balina’s legal team argued the SEC overreached by claiming his Telegram pump-chats violated securities law. Now the agency folds—right as Congress debates stripping its crypto oversight powers. Timing’s suspicious, no?
Wall Street’s take: ’Another win for the degens,’ muttered a Goldman VP between sips of his $28 oat milk latte. Meanwhile, retail traders keep gambling on influencer tips like it’s 2021 all over again.
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