SEC issues Robinhood with Wells Notice

Robinhood received a Wells Notice from the SEC on May 4. 

"On May 4, 2024, RHC received a 'Wells Notice' from the Staff of the SEC (the 'Staff') stating that the Staff has advised RHC that it made a 'preliminary determination' to recommend that the SEC file an enforcement action against RHC alleging violations of Sections 15(a) and 17A of the Securities Exchange Act of 1934, as amended," Robinhood said in a filling on Monday.

As Dan Gallagher Chief Legal, Compliance and Corporate Affairs Officer said he was disappointed after trying to work with the regulator.

"We firmly believe that the assets listed on our platform are not securities and we look forward to engaging with the SEC to make clear just how weak any case against Robinhood Crypto would be on both the facts and the law," he said. 

Previously Robinhood ended support for Cardano, Polygon and Solana, since these tokens were named as securities by SEC.

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Cronos AMA - Meme Season

 Cronos team announced an AMA on X with CAW, Mery, Ryoshi, Push, Chucky and Moon team.

Link: AMA

Crypto.com Surpassed 100 Million Global Users

Crypto.com reached a new major milestone surpassing 100 million users. The company announced that they reached this milestone after their latest brand film, Inevitable.

“Positioning our brand through engaging campaigns and iconic partnerships has made Crypto.com a household name,” said Kris Marszlek, CEO of Crypto.com. “But I’m most proud of the fact that we’ve surpassed the 100 million user milestone while building the most widely regulated platform in the industry by leading in global licenses and registrations. There were no shortcuts to this milestone. It was a team effort and we will keep building for the next 100 million users.”

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