Prometheum, the would-be SEC crypto darling, is in the crosshairs of the political right

Just months after the firm received special approval from the Securities and Exchange Commission, Congress is asking the agency to investigate its China ties.

Crypto company Prometheum looked poised to become a darling of the Securities and Exchange Commission (SEC). But in the past month, it’s been picked apart on the internet—ever since its cofounder spun a web of SEC-friendly rhetoric on a visit to Capitol Hill, in a speech that shot the firm to sudden notoriety and irked many members of the widely anti-SEC crypto community.

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