The cryptocurrency markets experienced significant disturbances during what was considered one of the calmest weeks of the year as the U.S. Securities and Exchange Commission (SEC) filed lawsuits against two major exchanges. A resolution was reached regarding the lawsuit filed against the Coinbase exchange. Now, the spotlight is on Binance, with positive news emerging for the exchange. With the arrival of Trump, Binance may finally take a deep breath of relief.
Breaking News for Binance
According to a report by Reuters, the SEC has decided to withdraw its lawsuit against Binance. Previously, there had been a request to freeze the lawsuit for settlement discussions. Now, the lawsuit is being completely dropped. Lawsuits against other big names in the crypto industry like Ripple 
$1, Coinbase, Metamask, and Uniswap have also been dismissed.
With the announcement, the price of Binance Coin (BNB) surged to $681, and Bitcoin (BTC) 
$74,999 returned to $106,000. Since November, there had been speculation that the new SEC administration would drop all lawsuits that do not involve fraud. There are currently no significant cryptocurrency lawsuits left over from the Gensler administration. In previous statements, the SEC had indicated that continuing these lawsuits while the regulatory process was underway was not right, but emphasized that no exceptions would be made for those violating the rules once they were established.
Now that the lawsuit against Binance has also been dropped, the only concern left for investors is the pressure related to tariffs. As the date of July 9 approaches, we will observe how tariffs will keep the markets occupied and what the medium-term market effects will be.
