The U.S. Securities and Exchange Commission (SEC) has withdrawn its lawsuit against Binance and its CEO, Changpeng Zhao, on May 29. This ended a two-year legal battle and removed a significant threat hanging over the entire crypto ecosystem, notably improving market sentiment and institutional confidence.
This is an indication that authorities may be beginning to adopt a clearer and more constructive approach to cryptocurrencies. Furthermore, this positive turn has coincided with a strong flow of institutional capital into Bitcoin ETFs, with inflows totaling nearly $50 billion, boosting the prices of Bitcoin and other major cryptocurrencies.