- Binance and the SEC have taken steps to dismiss this 2-year old lawsuit.
- BNB did not react to news despite macro-market pressure.
Binance’s lawsuit against the U.S. Securities and Exchange Commission has been dismissed after two years.
As per court documents, the agency and Binance sought full (‘with prejudice’) dismissal of the case, meaning it shouldn’t be filed again.
“The parties stipulate that this litigation be dismissed with prejudice as to the conduct alleged in the Amended Complaint, and without costs or fees to any party.”
Source: Court listener
Crypto regulation relief
This update is a follow-up to a 60-day pause The parties decided to file the suit in February, while they awaited the results of the crypto task force.
Binance CEO Richard Teng reacted to the regulatory relaxation. credited Paul Atkins, Chairman of the SEC and President Donald Trump.
“The tide has turned. The SEC’s case against us is dismissed – justice, finally. Huge credit to Chairman Atkins and the Trump administration for standing up to regulatory overreach.”
The exchange’s U.S. subsidiary welcomed the update, terming it a confirmation that it didn’t ‘violate U.S. securities laws.’
It is important to exchange the currency immediately restored USD deposits that were previously restricted in the case.
CZ took aim at Gary Gensler who was the former SEC chairman. posting On his X profile, he posted a cartoon-like image that was edited to look like a chair.
BNB slows accumulation
You can find out more about the On-line BNB Trading volumes jumped 10% in 24 hours to $2 Billion. On the 12-hour scale, however, there was a slight bullish bias.
The exchange netflow shows that about $4M of BNB were withdrawn, indicating a mild accumulation.
CoinGlass
It is worth noting that the Open Interest (OI) indicator, which indicates speculative activity, remained muted during the second half May.
CoinGlass data revealed that BNB’s OI fell from $858M (to $806M) over the past 3 days. The data highlights a sluggish Futures demand.
On price charts, a similar trend can be observed. BNB was priced at $640 and on the verge dropping below $700.
TradingView Source: BNB/USDT
The downward movement of the ATR (average true range, in red) since mid-May shows that the upward trend momentum is weakening.
In the short-term, however, tariff headlines may be enough to derail bulls. BNB could retrace back to the $640 support level until a catalyst is found.
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Source: ambcrypto.com
