Today in crypto: SEC reforms, Kronos token backlash

SEC launches crypto task force to clarify rules

The SEC has created a new Crypto Task Force, signaling a possible shift in how the US regulates digital assets. Led by Commissioner Hester Peirce, a supporter of clearer crypto policies, the team includes lawyers, policy experts, and blockchain specialists.

For years, the SEC took a harsh approach to crypto, suing companies like Coinbase and Binance. But many cases have now been dropped, and this task force suggests the agency is looking for more balanced regulations. Peirce said the group will work to find practical solutions rather than just enforcing old rules.

While the SEC hasn’t announced specific changes yet, its decision to include crypto-friendly experts hints at a more open discussion with the industry. This could mean fewer lawsuits and clearer guidelines for companies and investors in the future.

Trump’s crypto reserve plan raises questions

Donald Trump has proposed a US crypto reserve, where the government would hold Bitcoin, Ethereum, XRP, Solana, and Cardano. While the idea of a national Bitcoin stockpile has been discussed before, adding altcoins is new and controversial.

Analysts at investment firm Bernstein question whether the US government really needs Ethereum or Solana in its reserves. They also doubt that Trump could push the plan through without Congress’ approval.

After Trump’s announcement, Bitcoin briefly spiked to $95,000 but quickly fell back to $85,000, showing that investors are still uncertain about the impact of his policies. Crypto markets remain volatile, with concerns over inflation, trade wars, and global uncertainty adding pressure.

CoreWeave pivots from crypto mining to AI boom

AI cloud provider CoreWeave has filed to sell shares to the public for the first time, expected to be one of the biggest tech listings of 2025. Originally a crypto mining company, CoreWeave shifted to AI infrastructure in 2019, and the move has paid off massively. 

In 2024, the company reported $1.7 billion in revenue, a 737% jump from the previous year. However, it also posted an $863 million loss, as it heavily invested in AI hardware.

Some analysts worry that AI demand could slow down, leaving CoreWeave with expensive hardware it can’t profit from. But for now, the company is riding the AI wave, with backing from major banks like Morgan Stanley and Goldman Sachs.

Kronos faces backlash over controversial token reissue

The Kronos blockchain community is furious over a plan to bring back 70 billion KRO tokens—tokens that were permanently removed (burned) in 2021. The reissued tokens would be worth more than $5.3 billion today.

Kronos Labs, the team behind the blockchain, says the tokens would help fund development and support America’s crypto growth. But investors aren’t buying it—many see it as a dilution of the supply, meaning their existing tokens would lose value.

The backlash has been overwhelmingly negative, with 95% of votes against the plan. One user on X called it “a terrible look,” while others accused the team of going back on previous promises.

KRO’s price has dropped 92% since its all-time high, and this proposal isn’t helping confidence. With no response from Crypto.com (Kronos’ key partner), the future of the proposal remains uncertain.

What’s next for crypto?

Between new regulations, political involvement, and industry shifts, crypto is at a turning point.

The SEC’s task force could bring more clarity, but investors need to watch how it handles existing token classifications. Trump’s crypto reserve idea is bold, but it remains to be seen if it’s realistic. Meanwhile, big money is moving into AI, as seen with CoreWeave, while the Kronos community fights to protect its token’s value.

With market uncertainty and regulatory shifts, the coming months will be key in shaping crypto’s future in the US and beyond.