SEC Dismisses Binance Lawsuit After Two-Year Battle

The U.S. Securities and Exchange Commission (SEC) has voluntarily dismissed a lawsuit against Binance, Binance U.S., and its co-founder Changpeng Zhao (CZ) on May 29, 2025. This decision was finalized through a joint stipulation signed by lawyers from both sides, as indicated by court filings in the U.S. District Court for the District of Columbia. CZ confirmed the dismissal, marking the end of a two-year legal battle. The SEC, under former Chair Gary Gensler, had alleged that Binance facilitated the trading of unregistered crypto tokens, including Solana (SOL), Filecoin (FIL), and Cardano (ADA).

Earlier this year, Binance and the SEC had agreed to a 60-day pause on the lawsuit. Following the confirmation of the new SEC Chair Paul Atkins, the agency has proceeded to dismiss several crypto cases initiated by its predecessors. This move is seen as a significant victory for the broader crypto market, which has faced numerous regulatory challenges in recent years. The dismissal of the lawsuit could indicate a shift in regulatory sentiment towards cryptocurrencies, potentially leading to increased investment and innovation in the sector.

Following the announcement, the price of Binance Coin (BNB) recorded a mild rebound, trading at approximately $680 at the time of the report. According to analysts, BNB has been forming a bullish continuation pattern, with a high probability of entering price discovery soon. In the four-hour timeframe, BNB price has formed an ascending triangle following a retest of the bullish breakout from the falling logarithmic trend established earlier this year. A consistent close above the resistance level around $691 could trigger a rally beyond $700 in the coming weeks.

The dismissal of the lawsuit against Binance is a major development in the cryptocurrency industry. It could signal a more favorable regulatory environment for cryptocurrencies and blockchain technology. However, it is important to note that the price of BNB, like all cryptocurrencies, is influenced by a variety of factors, including market sentiment, regulatory developments, and technological advancements. Investors should approach the market with caution and consider these factors when making investment decisions.