Sonic founder Andre Cronje wrote a gripping post on his previous departure from DeFi, revealing it was driven by continued harassment from the SEC.
Cronje claimed that he was threatened with further persecution if he went public with his struggle. Today, he perceives a different attitude from the SEC and feels comfortable sharing this harrowing tale.
Cronje Comes Clean on SEC Persecution
Andre Cronje, founder of Sonic (formerly Fantom), finally described in detail why he left the DeFi scene in 2022. His sudden exit caused a great deal of speculation, with intermittent rumors of his return spiking FTM’s price.
Today, however, Cronje released a blog post detailing an aggressive harassment campaign by the SEC.
Essentially, the SEC first targeted Cronje by sending him a series of threatening letters. They began with a series of simple questions: who is investing in your project, who is profiting, etc.
However, these requests kept escalating, even though Cronje is not a US citizen, does not conduct business there, and only visited the country once.
“The letters kept coming, every-time pivoting to a new angle of attack, it started investigating me from the angle of a raise and SEC violation. As I spent weeks and months of my life trying collect information and answer their questions, the drain on my time, energy, and resources became apparent. I was practically forced to completely stop development,” he said.
After two years o
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Author: Landon Manning
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