A businessman who poured $75 million into a Trump family-backed cryptocurrency is in a fortunate position this week, as federal regulators have paused their civil fraud case against him.

On Wednesday, lawyers for the Securities and Exchange Commission (SEC) and Justin Sun, a Chinese crypto entrepreneur, jointly asked a federal judge to put the agency's case on hold.

Federal regulators have put a civil fraud case on hold after it emerged that a businessman who invested $75 million in a cryptocurrency project backed by the Trump family is also an official adviser to the venture.

Lawyers for the Securities and Exchange Commission (SEC) and Justin Sun, a Chinese crypto entrepreneur, jointly applied to have the case stayed.

The agency is accused of making a sudden U-turn on the case, in which it had previously accused Sun and his companies—Tron, BitTorrent, and Rainberry—of selling unregistered securities and manipulating the price of digital token Tronix.

Sun had been trying to get the case dismissed, and the SEC’s decision to stand down is sparking serious concerns about the agency’s approach to crypto regulation under the Trump administration.

Sun has become one of the largest investors in World Liberty Financial, a crypto project backed by former President Donald Trump and his family members.

Sun’s $75 million purchase of World Liberty tokens could potentially net the Trump family tens of millions of dollars, as they are entitled to 75% of the token’s revenues, according to the company.

Trump’s foray into crypto has led to concerns about potential corruption, as crypto allows for anonymous transactions that can directly benefit the president and his family.

“Now anyone in the world can essentially deposit money into the bank account of the President of the USA with a couple of clicks,” tweeted Anthony Scaramucci, former White House communications director, after Trump launched a memecoin last month.

However, Trump’s administration has been accused of weakening anti-corruption safeguards throughout its term in office.

Earlier this week, Trump’s attorneys also asked a federal judge to dismiss a lawsuit from former employees at the agency who claimed they were retaliated against for reporting corruption concerns.

Meanwhile, the SEC has also dropped its enforcement action against Coinbase, citing its efforts to reform crypto regulations.

The move comes after the agency faced backlash for allegedly mishandling the case and showing favoritism towards the cryptocurrency exchange.

Trump’s administration has faced ongoing criticism for its handling of corruption cases, with several cases being dropped or stalled.

Earlier this year, the Justice Department dropped a corruption case against Israeli Prime Minister Benjamin Netanyahuu after intervention from Trump.

The administration has also faced scrutiny for its close ties to foreign governments and its attempts to influence the legal system.