SEC Drops CyberKongz Investigation: Web3 Optimism Rises

The Securities and Exchange Commission (SEC) has dropped its investigation against CyberKongz, a popular Ethereum-based NFT and gaming platform. This action comes after years of legal proceedings, which the SEC alleged violated securities laws. In April 2025, CyberKongz announced it had reached a significant milestone with the SEC dropping their lawsuit. The company emphasized that this victory was a result of their dedication to fighting for the future of web3 and maintaining their commitment as they navigate an evolving regulatory landscape.