US senators question SEC leadership changes and decision to drop the case against Justin Sun.

U.S. Senator Richard Blumenthal wrote to SEC Chairman Paul Atkins, questioning the short tenure of former enforcement chief Margaret Ryan and the reasons for her departure, and expressing concern over the SEC's dropping of charges against Tron founder Justin Sun. Ryan took office in September 2025 and left in March of this year. Blumenthal stated in the letter that her sudden departure raises questions, especially given reports that senior SEC officials interfered with enforcement, limiting progress in some crypto company cases. According to media reports, Ryan attempted to strengthen investigations into fraud cases, including those involving individuals associated with President Trump, but faced opposition from some Republican senior members of the committee. The disagreement was particularly pronounced in the Justin Sun case. Previously, during the Biden administration, the SEC accused Sun and his affiliates of conducting unregistered securities offerings through TRX and BTT tokens, manipulating the market through wash trading, and paying celebrities for undisclosed promotions. Under the current administration, the SEC has dropped several enforcement cases against crypto companies, including Coinbase, Kraken, and Binance, raising concerns about a shift in regulatory direction.