A U.S. district court has granted the Securities and Exchange Commission (SEC) an opportunity to submit an elaborate briefing in connection with the ongoing lawsuit involving Binance, its CEO Changpeng Zhao, and Binance US. This decision comes in response to a motion seeking the dismissal of the SEC’s revised allegations, which are yet to be officially dismissed by the court.
Why Did the SEC Request More Pages for Its Brief?
The SEC’s request to exceed the standard page limit was justified by the intricate nature of the case and the various legal arguments presented. Judge Amy Jackson approved the SEC’s appeal, permitting a response that can be as lengthy as 70 pages. This extension allows the SEC to thoroughly address the complicated legal points raised by the defendants.
Can BNB Coin Reach New Heights Soon?
Despite a broader rally in the cryptocurrency market following Donald Trump’s victory, BNB Coin has experienced relative stability due to the ongoing lawsuit’s developments. Currently, BNB holds firm at a crucial support level of $600.
At the latest update, BNB is trading slightly down at $620, dipping below a $90 billion market cap. However, after a recent test of the $600 support level, BNB is beginning to show signs of recovery, potentially paving the way for new all-time highs.
- The SEC has been granted more time to provide detailed arguments.
- Binance and its affiliates did not oppose the SEC’s request.
- Market analysts predict a possible 150% increase for BNB Coin if trends continue.
- Current trading data shows a stable open position at $911 million for BNB derivatives.
The latest developments indicate that the ongoing legal proceedings have a significant impact on BNB Coin’s performance, as market participants closely monitor the situation for future price movements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
