In a significant regulatory shift, the U.S. Securities and Exchange Commission (SEC) has voluntarily dismissed its civil lawsuit against Binance and its founder, Changpeng Zhao. This decision, made with prejudice, prevents the SEC from reopening the case. The dismissal aligns with the SEC’s evolving approach to cryptocurrency regulation under President Donald Trump’s administration, contrasting with the stricter stance taken under former President Joe Biden .
Binance had previously faced a criminal case, culminating in a $4.32 billion penalty and Zhao serving four months in prison. The SEC emphasized that the decision was a discretionary policy matter, not indicative of its position on other crypto-related litigation .
📉 Market Reaction
Despite the legal victory for Binance, the crypto market experienced a downturn. Bitcoin’s price declined by 2.3% to $105,935, continuing its dip from a recent all-time high above $111,000. Other major cryptocurrencies also saw declines, including Ether (-3.4%), XRP (-3.9%), and Solana (-5.3%) .
🪙 Binance Coin (BNB) Update
As of the latest data, Binance Coin (BNB) is trading at $658.83, reflecting a slight decrease of 1.63% over the past 24 hours. The coin reached an intraday high of $670.90 and a low of $648.62.
🔄 Binance Platform Updates
Binance continues to expand its offerings and services:
•New Listings & Airdrops: Binance has introduced new tokens like Babylon (BABY) and Sophon (SOPH) on its platform, along with associated airdrop campaigns .
Fiat Liquidity Programs: The exchange has extended its fiat liquidity provider program to include currencies such as BRL, ARS, MXN, and COP .
Upcoming Events: Binance is gearing up for its Blockchain Week 2025, aiming to unite institutions, policymakers, and the global crypto community .