Variant Fund Chief Legal Officer: SEC Abuses Wells Notice as a Scare Strategy

Variant Fund Chief Legal Officer Jake Chervinsky posted on X that the Securities Exchange Commission just sent a Wells notice to Robinhood. The number of Wells notices they have sent in recent months regarding cryptocurrencies has been staggering. It's hard to imagine that the Securities Exchange Commission could (or could) bring so many enforcement actions at once, and it looks like they are now abusing Wells notices as a scare tactic. They are clearly abusing Wells notices to intimidate honest American companies.