The SEC basically rolled over for every crypto company with Trump connections after he got back into office. The agency dropped or froze over 60 percent of its crypto cases from the Biden era, which is completely unheard of for a single industry. Binance got its fraud case tossed, Coinbase walked free, and Gemini Trust, run by the Winklevoss twins, got its lawsuit paused even though customers lost access to their accounts for months.
Trump and his family have business deals with a bunch of these firms through World Liberty Financial. The Winklevoss brothers threw cash at Trump campaign funds and White House renovations, while Justin Sun bought millions in Trump tokens right before his fraud case got frozen. The agency tried to backpedal on penalties against Ripple after it donated to the inauguration.
Career lawyers at the SEC are freaking out because the whole enforcement division basically collapsed overnight when the new commissioners took over. Some senior officials stopped showing up to work or refused to sign their names to cases after the election.
Trump and his family have business deals with a bunch of these firms through World Liberty Financial. The Winklevoss brothers threw cash at Trump campaign funds and White House renovations, while Justin Sun bought millions in Trump tokens right before his fraud case got frozen. The agency tried to backpedal on penalties against Ripple after it donated to the inauguration.
Career lawyers at the SEC are freaking out because the whole enforcement division basically collapsed overnight when the new commissioners took over. Some senior officials stopped showing up to work or refused to sign their names to cases after the election.
