Token Metrics CEO says SEC will drop lawsuit against it

Token Metrics CEO Ian Balina said on Wednesday that he expects the U.S. Securities and Exchange Commission (SEC) to dismiss the lawsuit against him, ending a three-year legal battle over allegations of violating U.S. securities laws. "This is official news: the U.S. Securities and Exchange Commission will dismiss the lawsuit against me," Balina wrote on Twitter. "This has never been just about me, but about the fairness of cryptocurrency." Balina's charges stem from a September 2022 order alleging that he failed to disclose compensation received when promoting Sparkster (SPRK) during its initial token offering. In support of the CEO's claim, Token Metrics stated on Twitter on Monday that the charges have been "dismissed," adding that "enforcement trends may be shifting."