★ Government Action
Trump's SEC closes Robinhood crypto investigation with no action
Donors, Cases DroppedEasing Up on Crypto
Filed February 2025
★ The Brief
What happened
The SEC closed its investigation into Robinhood's crypto arm in February 2025 with no enforcement action, abandoning a case it had signaled in a May 2024 Wells notice, the agency's formal warning that charges were coming, over tokens traded on the platform.
Who enabled it
Who benefits
Deal or steal?
In May 2024 the SEC warned Robinhood it planned to sue over crypto tokens on its platform. Robinhood then gave $2 million to Trump's inaugural, part of a record $250 million corporate haul; weeks into the new term, the SEC closed the case with no charges.
★ Cast your vote
The U.S. Securities and Exchange Commission closed its investigation into Robinhood's cryptocurrency arm without taking any enforcement action. Robinhood had received a Wells notice in May 2024 indicating the SEC had been planning to bring enforcement action over crypto tokens traded on its platform. The closure occurred in February 2025 under the Trump administration, which has directed the SEC to ease crypto-related regulations, including establishing a crypto task force and rescinding a key accounting guidance.
Further reading
- ★ Government ActionAugust 2025Trump's SEC ends Biden-era Ripple Labs crypto enforcement case
- ★ Government ActionApril 2025Trump's SEC pauses Gemini Trust enforcement lawsuit
- ★ Government ActionFebruary 2025Trump's SEC dismisses civil enforcement case against Coinbase
- ★ Government ActionJanuary 2026Trump's two top market regulators launch joint 'Project Crypto'
- ★ Government ActionOctober 2025Trump DOJ drops Roger Ver tax case for $49.9M, no guilty plea
- ★ Government ActionAugust 2025Trump orders Labor Department to allow alternative assets in 401(k)s