The tokenization platform says the SEC has formally closed a confidential Biden-era investigation without any charges.
The U.S. Securities and Exchange Commission (SEC) has closed a confidential inquiry into real-world asset (RWA) platform Ondo Finance without bringing any charges, lifting a cloud that had hung over the project.
In a blog post on Monday morning, Ondo said it received formal notice that the multi-year investigation launched under the Biden administration during a period of “heightened scrutiny” of crypto firms has been “closed without any charges.”
ONDO jumped about 7% following the announcement and was trading at $0.48 at press time, per data from The Defiant’s price tracking page.
Ondo, which focuses on bringing traditional assets onto public blockchains, became one of the sector’s most prominent players as demand for tokenized U.S. Treasuries accelerated in 2024.
Its flagship OUSG product, a tokenized portfolio of short-term Treasury bills, now holds more than $770 million in assets, according to data from RWA.xyz.
The development comes as policymakers continue to debate how U.S. clearing and settlement systems should connect to blockchain-based infrastructure.
In October, The Defiant reported that Ondo urged the SEC to delay approval of Nasdaq’s plan to list tokenized securities. The firm said the proposal relies on the Depository Trust Company building a new settlement model that has yet to be disclosed.
Now, the company plans to outline its next phase at an event in New York in February, where it will gather policymakers and executives from traditional finance to “lay out our vision for the new era of onchain finance.”
