SEC officially withdraws the lawsuit against Binance
Former Binance CEO Changpeng Zhao (CZ) celebrates victory: The U.S. Securities and Exchange Commission has withdrawn its lawsuit against him and the company, with the case being closed permanently (with prejudice), meaning it cannot be reopened.
CZ immediately posted a photo on social media of former SEC chair Gary Gensler with a red clown nose and the caption: "Crypto is still here."
Binance also thanked the new leadership of the SEC and the Trump administration for taking steps towards regulation without excessive oppression.
Previously, the SEC accused Binance of trading unregistered securities, allowing users from the U.S., and mixing client funds.