The U.S. SEC has dropped 60% of crypto cases inherited from the Biden era, most of which involve business dealings with the Trump family.
PANews reported on December 15th that, according to the New York Times, when Trump returned to the White House, over 60% of the cryptocurrency cases the SEC was handling received lenient treatment, with the SEC taking action to suspend proceedings, reduce penalties, or withdraw charges altogether. The SEC is no longer actively pursuing any companies associated with Trump. For companies that have business dealings with the Trump family's cryptocurrency businesses or have donated to his political cause, the SEC has made concessions. The agency's remaining cryptocurrency cases currently target little-known defendants with no apparent connection to Trump.
According to statistics, Biden filed 105 cryptocurrency cases during his term, Trump filed 50 during his first term, and filed no cryptocurrency cases during his second term. During Trump's second term, the SEC withdrew 33% of the cryptocurrency cases inherited from the Biden era. For cases involving other industries, it withdrew only 4%. In total, the Trump-led SEC inherited 23 cryptocurrency cases—21 from the Biden era and 2 from Trump's first term—and withdrew 14, eight of which involved defendants with ties to Trump or his family established before or shortly after their cases were resolved. SEC Commissioner Hester Peirce stated in an interview that the decisions to withdraw from many such cases were to correct errors, and that political or financial considerations were irrelevant.
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