Crypto.com, the prominent cryptocurrency exchange, has withdrawn its lawsuit against the United States Securities and Exchange Commission (SEC). This development comes after the SEC issued a Wells notice to Crypto.com, indicating potential enforcement action. According to Decrypt, Crypto.com's withdrawal of the lawsuit was voluntary and followed a meeting between the company's co-founder, Kris Marszalek, and former President Donald Trump. The timing of the meeting has raised speculations about a possible connection between the withdrawal and the meeting. However, neither Crypto.com nor the SEC has provided any official statements regarding the alleged connection. The lawsuit had been filed by Crypto.com in response to the SEC's Wells notice, which alleged regulatory overreach by the agency. It is important to note that the dismissal of the lawsuit does not resolve the underlying regulatory issues faced by Crypto.com.
