Crypto Industry Reacts Over The SEC’s Wells Notice to Robinhood

• Bill Morgan, thinks there is a lot of bad blood between the crypto industry and the SEC.
• Morgan thinks the bad blood could degenerate into a permanent feud.
• Jake Chervinsky, Variant’s CLO, has accused the SEC of abusing the Wells process.

Renowned crypto lawyer Bill Morgan thinks there is a lot of bad blood between the crypto industry and the U.S. Securities and Exchange Commission (SEC) that could degenerate into a permanent feud. Morgan made the statement in a post on X, responding to reactions toward the recently issued Wells Notice by the SEC to Robinhood.

Interestingly, some commentators more sympathetic to the SEC say that crypto companies receiving Wells Notices are not acting in a manner that is normally the case with a Wells Notice recipient and are taking the occasion of receipt of a Wells Notice to publicly attack the SEC.… https://t.co/cf1dLwK8Vu

— bill morgan (@Belisarius2020) May 7, 2024

According to Morgan, some commentators sympathetic to the SEC are accusing companies receiving Wells Notices from the SEC of not acting appropriately. He noted that the SEC sympathizers believe the affected companies usually result in making public attac…

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