Token Metrics CEO Ian Balina announced Wednesday that the SEC is expected to drop its case against him, concluding a three-year legal battle over alleged violations of US securities laws.
Balina tweeted, “It’s official: The SEC is dropping its case against me. This was never just about me—it’s about fairness in crypto.”
The charges originated from a September 2022 order accusing him of failing to disclose compensation while promoting the Sparkster (SPRK) initial coin offering.
Supporting Balina’s statement, Token Metrics tweeted on Monday that the charges had been “dropped,” suggesting a “possible shift in enforcement trends” might be occurring.
