- The SEC and Binance have moved to completely reject the 2-year court case.
- BNB did not respond to the news in the midst of the overall market pressure of the macro front.
The US Securities and Exchange Commission (SEC) has finally spotted to reject the two-year Binance Exchange right case.
According to Court documentsThe Agency and Binance have fully asked (‘with prejudices’) dismissal of the case, which means that it should not be submitted again.
“The parties determine that this lawsuit with prejudice is rejected with regard to the behavior claimed in the amended complaint, and without costs or reimbursements to a party.”
Source: Court Listener
Crypto Regulatory Relief
The update comes after one 60-day break About the court case in February while the parties were waiting for the outcome of the Crypto Task Force of the Agency.
Respond to regulatory relief, Binance CEO, Richard Teng, credited President Donald Trump and SEC chairman Paul Atkins.
“The tide has turned. The case of the SEC against us is rejected – justice, finally. Very credit to chairman Atkins and the Trump government for getting up regulatory scope.”
The American subsidiary of the Exchange welcomed the update and called it a confirmation that it did not “violate American securities.”
The exchange immediately recovered USD deposits, which were previously limited during the court case.
For Binance founder CZ he took a wipe to former SEC chairman Gary Gensler, post A clown-like edited image of the chair on his X account.
BNB registers slow accumulation
On the BNB Markets, trade volumes have risen 10% to $ 2 billion in the last 24 hours. However, the general bias seemed somewhat bullish on the 12 -hour period.
According to Exchange Netflow, about $ 4 million was admitted to BNB from stock markets, indicating mild accumulation.
Source: Coinglass
Worth to point out, the speculative interest, as indicated by open interest (OI), remained filled in the second half of May.
Coinglass -data showed that BNB’s OI has decreased from $ 858 million to $ 806 million in the last three days, underlining the slow demand of the futures markets.
A similar trend was observed on price diagrams. BNB price was rejected near $ 700 and was about to fall to $ 640.
Source: BNB/USDT, TradingView
Since mid-May the Uptrend momentum has been weakened, as evidenced by the average True Range (ATR, RED) Southward movement.
However, with the return of tariff heads, macro factors can derail bulls in the short term. If this is the case, BNB can return to $ 640 short -term support until a strong catalyst arises.