A legendary Defi -architect has shared a blog post to put his real motivation behind behind leaving the segment in 2022. Together with co -founder Anton Nell, Cronje stood for Savage Scrutiny of the US Securities and Exchange Commission.
Andre Cronje reveals that he was closed in 2022 due to sec print
Andre Cronje, founder of Jancinance (YFI), KEEP3R (KP3R) and one of the originators of the mechanisms of regular decentralized financing, was forced to leave Defi in 2022 due to attacks from the previous team at the US Sec. In 2021-2022 he was the target of the American watchdog, which investigated the status of annual ovens as ‘investment mechanisms’.
Why did I stop in 2022 https://t.co/xwwmyk6jv
– Andre Cronje (@andrecronjetech) 28 January 2025
The statement was published today, January 28, 2025, on Cronje’s personal blog. As explained by the ‘father of Defi’, he protected his products against accusations for almost two years.
Usually American supervisors were interested in the income that Cronje apparently receives from his involvement with Jancer.Finance (YFI) and KEEP3R (KP3R), and the mechanism of collecting funds.
He emphasized that from the very beginning of the activities of the Protocol, he earned zero reimbursements for the desire and worked without a founder, team or allocation. He also never sold anything to the American residents and he only visited the US once:
All in all this lasted 2 years of my life and eventually culminated at a point that I essentially got a choice. I can continue to try to build things for free, receive no benefit, spend hours of my energy and time to release this code in the wild, while I constantly have to face these attacks and have months of my life and real money Spend it to defend it. Or I have to step away. After 2 years of dealing with this every month, and endless sleepless nights and stress. I chose the latter.
Before Cronje has issued a series of reports about regulation in the Defi segment. He was also forced by researchers to keep the information about SEC fertilations secret.
Cronje’s new blockchain, Sonic (s), surpasses $ 350 million in TVL
As previously covered by U.today, Andre Cronje and Anton Nell stopped in March 2022. Their decision to leave caused a collapse in the Defi -Tokens segment.
In 2023 he returned with the idea of rebranding Fantom (FTM) blockchain in Sonic (s). At the moment it is one of the fastest growing low-1 networks.
Since the rebranding announcements, the aggregated TVL has risen by 66%.
