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Coinpaprika 2025-01-29 08:15:35

Andre Cronje Says SEC Harassment Forced Him Out of DeFi

Sonic founder Andre Cronje has revealed that his departure from DeFi in 2022 was due to ongoing SEC harassment . In a recent post, Cronje explained that relentless pressure from US regulators drained his energy and forced him to leave the industry. According to Cronje, the SEC’s scrutiny started with simple inquiries about investors and profits but soon escalated into aggressive demands. Despite not being a US citizen and having no business in the country, he was targeted repeatedly. Each request led to more investigations, taking a toll on his time and resources until he ultimately decided to step away. Cronje stated that the SEC warned him against speaking publicly about this harassment, threatening further action if he did. The stress of ongoing regulatory pressure made it impossible for him to continue working on open-source projects, despite his passion for the crypto space. Even after his departure, Cronje never fully disengaged. He continued contributing discreetly to projects, unable to stay away from the industry he helped build. Now, with a change in SEC leadership in 2025, he feels safe enough to share his story. The resignation of Gary Gensler has brought a shift in regulatory attitude. Cronje believes the new SEC leadership is more open to crypto innovation, leading him to finally speak out about his experience. His revelations highlight the struggles faced by blockchain developers under previous regulatory policies. For years, the SEC took a hard stance against DeFi, pushing key figures like Cronje out of the industry. While some dismissed claims of widespread regulatory crackdowns, Cronje’s account confirms the pressure crypto developers faced. The crypto space has endured numerous challenges from regulators, but Cronje’s return signals that the industry remains resilient. His experience serves as a reminder of past struggles while raising hope for a more balanced regulatory approach moving forward.

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