SEC
Trumpβs nominee for SEC Chair, Paul Atkins [I71], has not even been confirmed yet, but that hasnβt stopped the agency from barreling ahead with the new administrationβs promises to the industry that all their problems would go away.
Most notably, the SEC case against Coinbase was dismissed with prejudice, meaning the SEC cannot refile the case in the future. CEO Brian Armstrong was explicit with his thanks when announcing the dismissal on Twitter: βI have to give credit here to the Trump administration, for winning the electionβ. He insisted that he believed βwe would have won this case in the courts either wayβ, but noted that Trumpβs election βcertainly helped accelerate the processβ.23 Coinbase has spent $75 million on contributions to crypto-focused super PACs, some apparently in violation of federal election law, and contributed $1 million to Trumpβs inauguration fund.
A case against Justin Sun and his Tron project, opened in March 2023 and alleging fraudulent market manipulation βthrough extensive wash tradingβ, βorchestrating a scheme to pay celebrities to tout TRX and BTT without disclosing their compensationβ, and unregistered securities offerings, has been stayed as parties βconsider a potential resolutionβ.24 As a foreign national, Sun is not permitted to make contributions to American political candidates or committees. However, he has spent $75 million purchasing World Liberty Financialβs WLFI tokens, and Trump personally gets a 75% cut of that projectβs re