Solana survived Sam Bankman-Fried. Can it survive Gary Gensler?

June 13, 2023 – Media Mention
Fortune - Crypto

Partner and co-chair of Herrick's Securities Litigation and Enforcement GroupArthur G. Jakoby, spoke with Fortune - Crypto where he discussed the recent claims made by the Securities and Exchange Commission (“SEC”) that Solana, the blockchain platform formerly lauded by Sam Bankman-Fried, and 12 other tokens are unregistered securities.

The article highlighted that these claims, made as part of the SEC’s lawsuits against the world’s largest cryptocurrency exchange, Binance, were filed last week. Arthur noted that these claims and the looming threat of litigation are “potentially an existential threat” for the Solana ecosystem.

Moreover, while [the] SEC has recently expanded its recent crypto litigation strategy to target exchanges, that doesn't mean it will abandon enforcement actions against individual tokens, Arthur explained. 

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