PANews reported on March 13 that Ian Balina (Token Metrics CEO and well-known crypto YouTuber) announced that the U.S. Securities and Exchange Commission (SEC) will withdraw its lawsuit against him for promoting the Sparkster (SPRK) token in 2018. The case was filed in 2022, accusing Balina of failing to disclose that he received a 30% bonus in the IC0 and suspected of illegally promoting unregistered securities.

Although the SEC has not yet formally submitted documents to withdraw the lawsuit, the case was originally scheduled to go to trial in January 2025, but was postponed to a date to be determined due to legal procedures.