The Securities and Exchange Commission (SEC) of the USA has officially dropped the investigations into Immutable, the crypto gaming company. The co-founder of Immutable, Robbie Ferguson, specifies that no enforcement action has been taken and now expresses excitement about really accelerating in the Web3 game.
Summary
Immutable: the official abandonment by the SEC of the investigations into the crypto gaming company
The Securities and Exchange Commission (SEC) of the USA has officially dropped the investigations into the crypto gaming company Immutable.
The Wells notice from the SEC to Immutable had arrived last November, just before the US Presidential elections. The complaint was not specific, but it referred to violations of securities law and alleged misstatements by the company, likely related to the private sales of IMX in 2021.
Immutable would have publicly responded that the SEC continued to indiscriminately assert that tokens are securities.
In any case, even at that time, the crypto gaming company had reassured its followers by stating that it would continue to do what it does best, which is building products and services for gaming on blockchain.
Now, to confirm the halt to the investigations the co-founder of Immutable, Robbie Ferguson, on X, has stepped in:
“The SEC has now officially dropped the investigation into Immutable, without any enforcement action being taken. This is a huge victory for the web3 game: after a year of battles, this threat to digital property rights has finally been silenced. We are excited to build.”
Immutable and the SEC’s Withdrawal: the Reaction of the Co-founder of the Crypto Gaming Company
Continuing with his post on X, Ferguson states that despite the Wells notice, Immutable has managed in the past year to continue its activities.
Among others, Ferguson talks about the zkEVM blockchain, which has become the 11th most popular blockchain in the world, the Passport, which has over 4.9 million memberships, and the number of crypto games increased to more than 500.
Not only that, Immutable would have also secured three important partnerships with multibillion-dollar companies over the last year.
As of today, with no more investigations underway, Ferguson is said to be enthusiastic about being able to truly accelerate in the bull of crypto gaming.
The withdrawal of the SEC on Immutable comes after a few weeks ago, always the SEC, decided to also withdraw its appeal against Ripple.
Is the IMX token in pump?
At the time of writing, IMX is worth $0.67, in a pump of +6% compared to 24 hours ago. Not only that, IMX reached the price of $0.73 during the last few hours.
In reality, looking at the crypto market led by Bitcoin (BTC), there is a slight green jump for almost all cryptocurrencies. This means that, basically, there is a slight bull market in general dominating the price scene, including IMX.
In fact, going back to November 2024, the month in which Immutable received the Wells notice, IMX had fallen from $1.32 to $1.07. A price that remains much higher than the current one.