Variant Fund Chief Legal Officer: The SEC is abusing Wells Notices as a form of intimidation strategy

ChainCatcher news, according to TheBlock, Variant Fund Chief Legal Officer Jake Chervinsky posted on X that the U.S. Securities and Exchange Commission has just sent a Wells notice to Robinhood. The number of Wells notices they have sent regarding cryptocurrencies in recent months is shocking. It is hard to imagine that the SEC can (or is able to) take such extensive enforcement actions; it seems they are now abusing Wells notices as a form of intimidation, and they are clearly misusing Wells notices to intimidate honest American companies.