Fox reporter: The U.S. SEC chooses to settle with cryptocurrency companies rather than directly dismissing them, in order to "prove" that spending millions of taxpayers' money is justified

ChainCatcher news, Fox Business reporter Eleanor Terrett posted on the X platform that legal professionals she spoke with believe that the U.S. Securities and Exchange Commission is attempting to reach a settlement with crypto companies rather than directly dismissing related lawsuits, in order to "justify" spending millions of taxpayers' money and regain some face.

Additionally, SEC commissioners Hester Peirce and Mark Uyeda did inform Coinbase that they were sorry for the inconvenience, which is a real blow to the enforcement regime of the SEC under Gensler and the Biden administration.