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Dragonchain Token Soars 130% Following SEC’s Decision to Drop Securities Case

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  • SEC drops Dragonchain lawsuit, sparking a 130% surge in DRGN token price.
  • Dragonchain’s trading volume jumps 6000% after the SEC lawsuit dismissal.
  • SEC enforcement rethink marks pivotal shift led by Crypto Assets and Cyber Unit.

The U.S. Securities and Exchange Commission (SEC) has filed to dismiss its lawsuit against Dragonchain, a blockchain platform, demonstrating its new approach to regulating the cryptocurrency sector. The move comes after the SEC declared a reassessment of its digital assets policy under the current presidential administration.

Background of Dragonchain’s Lawsuit and Dismissal

In August 2022, the SEC began legal proceedings against Dragonchain for running unregistered securities offerings through its 2017 Initial Coin Offering (ICO) and subsequent token presales. According to the SEC, the DRGN token, which received $14 million from international investors, was classified as a security by applying the Howey Test.

On the other hand, the Dragonchain team believes the token was a utility token intended for use within the platform instead of functioning as an investment asset. Furthermore, the company argued that the SEC had wrongfully applied the Howey Test to cryptocurrency assets and challenged the legal foundation of the agency’s claims.

In a joint filing on April 24, 2025, both parties requested that the case be dismissed with prejudice, meaning it will not be refiled. The SEC attributed its decision to dismiss the case to the ongoing work of its Crypto Task Force, which clarifies how digital assets should be classified under federal securities laws. The SEC’s recent action aligns with a policy shift from this government that has caused multiple significant cryptocurrency legislation reversals at the agency.

Market Reaction and Future Implications

The court decision to drop the lawsuit caused Dragonchain’s native token, DRGN, to experience an immediate positive price response. The case dismissal created an immediate 134% increase in token value within 24 hours of the announcement, while investors returned their confidence in the project.

The token’s trading volume skyrocketed by over 6000%, with investors showing renewed interest in the cryptocurrency. Despite its recent price boost, the token DRGN trades at a 98% lower value than its all-time high of $5.46.

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Source: CoinGecko

The cryptocurrency market is highly volatile due to regulatory uncertainty, as evidenced by this swift increase. Despite recent market gains, the Dragonchain token faces hurdles in reaching its previous value. At press time, the token holds a market capitalization of $30.62 million.

The SEC’s decision to dismiss the lawsuit represents a broader movement within the agency regarding its crypto enforcement initiatives. The new leadership at the agency has been reevaluating its stance on crypto regulation by reassessing existing cases that previously involved companies like Coinbase and Ripple. The regulatory changes reflect President Trump’s initiatives to establish a friendly environment toward digital assets.

Discovery Science Rolls Out New Crypto and Blockchain Documentary

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A new cryptocurrency documentary named  “Open Source Money” was recently premiered on the Discovery Science channel and continues to broadcast weekly episodes. The new cryptocurrency documentary series provides an in-depth analysis of what the cryptocurrency ecosystem is and tells the story of Dragonchain, a US-based blockchain technology firm.

Crypto and Blockchain documentary shares rich insights

The docuseries are based around an initial coin offering ( ICO) called Dragonchain. Dragonchain Network was created by the branch of the Walt Disney Company in Seattle back in 2014. Yet in 2016, the blockchain project and Walt Disney opted for cut-off ties. The episode follows Joe Roets, the founder of Dragonchain and entrepreneurs across the U.S. who face tremendous opposition from the U.S. government and SEC as they seek to progress in the cryptocurrency industry.

YouTube video

 

The episodes will also highlight major contributors to the cryptocurrency revolution when telling the Dragonchain ‘s journey. Perianne Boring, the founder of the Chamber of Digital Commerce, Alex Mashinsky of the Celsius Network, the infamous John McAfee; also feature special appearances in the documentary

Open Source Money is directed by J.D. Seraphine and Executive produced by   Vision Tree Media. This is the first series to be entirely financed with a budget of $1 million by cryptocurrencies. Open Source Money is directed by J.D. Seraphine and Executive produced by   Vision Tree Media. This is the first series to be entirely financed with a budget of $1 million by cryptocurrency. Notably, the company managed to raise $1 million in funding to drive the filming process through a variety of cryptocurrencies.

“Each episode highlights major contributors in the cryptocurrency revolution, including notable figures Patrick Byrne, Brock Pierce, Joe Roets, and companies the likes of Disney, Facebook, and more,”  said the Open Source Money website.

In conclusion, the 5-part documentary series focuses on the current regulatory stance on cryptocurrencies in the United States. “Open Source Money” will be broadcast on the Discovery Science channel and Philo at 10 a.m. ET every Saturday until the final episode.