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The founder of layer-1 blockchain Sonic (S) is speaking up about his decision to step away from crypto in 2022, two years after launching the decentralized finance (Defi) platform Yearn Finance (YFI).In a post on Medium, Andre Cronje says he stopped his public engagement with DeFi because of regulatory pressure.He says it all started in 2021 when the U.S. Securities and Exchange Commission (SEC) sent him a letter asking for more information on YFI, including whether he raised funds and who the investors were.Cronje says he complied and provided as much information as he could provide, but the SEC continued to send him letters that later became hostile in tone. The regulator investigated him on different issues, including violations, which Cronje says confused him because he is not a US citizen or resident and he neither sold anything to anyone in the US.“The letters kept coming, every time pivoting to a new angle of attack. It started ‘investigating’ me from the angle of a raise and SEC violation… When it became apparent that [the raise] was not an angle of attack, it shifted to focusing on the yearn vaults themselves as ‘investment vehicles’.”Cronje says the time and effort it took him to answer the questions from the regulator diverted his attention.“At this point, I was practically forced to completely stop development or R&D, and focus solely on this legal and regulatory battle.”He says the sleepless nights and stress of the ordeal prompted him to quit.“All in all this took 2 years of my life and finally culminated in a point where I was essentially given a choice. I can keep trying to build things for free, receive no benefit, spend hours of my energy and time to release this code into the wild, while needing to constantly face these attacks and have to spend months of my life and real money to defend it. Or I need to step away.”$SONIC

Together AI Launches Low Latency Voice AI Platform with Cartesia Sonic Together AI introduces the Together Audio API, utilizing Cartesia Sonic's low-latency, multilingual voice model, enabling developers to create advanced voice applications across various industries. #Bitcoin…

($SONIC /USDT) Chart Analysis💎📊 😱The Sonic ($SONIC /USDT) trading pair on the 4-hour chart reflects a period of recovery and potential consolidation after a recent decline. Here's a detailed breakdown of the analysis: Key Observations:🚀 Price Movement: The current price is 0.578220 $SONIC USDT, showing a gain of +5.44% in the last 24 hours. The price has bounced from the recent low of 0.536715$SONIC USDT, indicating a potential short-term reversal. Bollinger Bands (BOLL): Upper Band (UB): 0.623620 Lower Band (LB): 0.518756 The price is approaching the middle band, which acts as a key support/resistance zone. A breakout above the middle band could signal further upside momentum. Moving Averages (MA):📈 5-period MA: Positioned at 0.570927, close to the current price, indicating that the price is attempting to stabilize near the short-term average. 10-period MA: At 0.578220, acting as immediate resistance. Volume (VOL):👀 The trading volume for the 4-hour timeframe is 168.63K, suggesting moderate market activity. Increased volume could provide the fuel for a stronger move in either direction. Relative Strength Index (RSI): Although not directly visible, the recent price increase implies that RSI is likely moving upward from oversold levels, signaling potential bullish momentum. 24-Hour Overview: High: 0.589297 Low: 0.536715 24H Turnover: 29.58M USDT These levels define the trading range, with resistance near the 24-hour high. Technical Signals:🔎 Bullish Signs: Price recovery from the lower Bollinger Band. Positive price action (+5.44%) over the past 24 hours, suggesting renewed interest. Bearish Risks:👀 Resistance from the 10-period MA at 0.578220. The trend remains cautious until there is a decisive breakout above the upper Bollinger Band or 0.623620. Potential Scenarios: Bullish Breakout:🚨 A strong push above 0.589297 (24H high) with increased volume could trigger further upside, targeting 0.65–0.70$SONIC USDT. Bearish Rejection:💫 Failure to sustain above 0.57 USDT may lead to a retest of the lower Bollinger Band at 0.52 $SONIC USDT, with a risk of falling toward 0.50 USDT.

Sonic DeFAI Hackathon Opens Applications, Offers $250,000 in Prizes Sonic announced the launch of the DeFAI hackathon, offering $250,000 in prizes focused on building AI agents that perform social and on-chain actions. Applications are open now until February 24, 2025, and par…

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