SEC Withdraws Lawsuit Against Token Metrics CEO Ian Balina

According to Odaily, Token Metrics CEO Ian Balina announced that the U.S. Securities and Exchange Commission (SEC) has decided to withdraw its lawsuit against him, concluding a legal battle that has lasted three years. Balina shared on social media, stating, "This is official news: the SEC is withdrawing its lawsuit against me. This case was never just about me personally, but about fairness in the crypto industry." The SEC initially charged Balina in September 2022 for allegedly failing to disclose compensation received for promoting the Sparkster (SPRK) token offering, which was considered a violation of U.S. securities laws. Recently, the official Token Metrics account confirmed that the charges have been dropped, suggesting a potential shift in the SEC's enforcement approach.