YEREVAN (CoinChapter.com) — Cronos (CRO) has seen a notable surge of 11% in the past 24 hours. On March 28, 2025, the token briefly crossed the $0.11 mark before stabilizing around $0.1072. This latest uptick has brought CRO’s weekly gains to nearly 40%. The sudden spike comes after the U.S. Securities and Exchange Commission (SEC) concluded its investigation into Crypto.com, marking a turning point in a long-running legal battle.
The SEC’s Investigation: A Long and Stressful Road for Crypto.com
The SEC’s probe into Crypto.com officially ended with no enforcement actions being taken. The investigation’s closure comes after months of tension between the regulatory body and the exchange. In October 2024, Crypto.com filed a lawsuit against the SEC after receiving a Wells notice, which indicated the agency’s intent to sue for operating as an unregistered broker-dealer and securities clearing agency.
The lawsuit argued that the SEC was overreaching its jurisdiction by classifying nearly all crypto transactions as securities, regardless of how they were sold. Crypto.com CEO Kris Marszalek condemned the SEC’s actions, criticizing its approach as unjust and overbearing. He called for an end to the regulator’s overreach in the crypto space.
By December 2024, Crypto.com dropped the lawsuit, following the re-election of Donald Trump as U.S. President. Under the previous Biden administration, several crypto firms, including Kraken, Coinbase, and Uniswap, faced enforcement actions. However, with Trump’s return to office, many of these cases were shut down, signaling a shift in the legal landscape for crypto companies.
Crypto.com’s Legal Team Voices Concerns
Nick Lundgren, Chief Legal Officer at Crypto.com, expressed frustration over the prolonged investigation. He accused the SEC of misusing its power and attempting to expand its reach to harm the crypto industry, which the former SEC chair had previously targeted. Lundgren stated,
“It is unfortunate that we were forced to endure this years-long investigation and file our own suit against the SEC to protect the rule of law.”
Lundgren also emphasized the company’s core values of compliance and integrity, reiterating Crypto.com’s commitment to working with the SEC under its soon-to-be-confirmed chair, Chair Atkins. The goal is to bring clarity to the regulatory landscape for crypto firms.
Controversy Over CRO Token Re-Issuance
Along with the SEC’s investigation conclusion, Crypto.com also faced backlash over the re-issuance of 70 billion CRO tokens. Critics, including blockchain investigator ZachXBT, accused the company of betraying its users. They argued that the decision to revive tokens previously burned in 2021 contradicted the principles of decentralization and transparency, which many in the community value.
Despite the criticism, CEO Kris Marszalek defended the move, stating that the re-issuance was necessary for Crypto.com’s growth strategy. He assured that the decision was in line with the company’s future vision and the need to support its operations moving forward.
Crypto Analyst Predicts Strong Comeback for CRO
Crypto analyst Lucky recently shared his optimistic outlook on Cronos (CRO), pointing to its strong comeback and significant growth potential. In a tweet from March 26, Lucky highlighted that CRO has shown promising signs of recovery and is poised for further growth.
Lucky pointed out the formation of a falling wedge, indicating a potential breakout. The chart shows CRO moving from the demand zone and breaking through previous resistance levels. This could signal the start of a new bullish phase, with CRO possibly reaching new highs.
In addition, Lucky also mentioned that CRO recently partnered with Donald Trump’s Truth Social, launching a groundbreaking ETF featuring CRO. Notably, he believes this partnership will propel CRO to new heights, stating,
“I genuinely believe CRO will hit a new high this cycle.”
