in its dealings with the SEC. The exchange and its legal team asserted in the US District Court for the District of Columbia that the SEC had disseminated misleading statements regarding the management of customer assets. Binance emphasized that there was no evidence to support the SEC’s allegations of unauthorized commingling or diversion of customer assets.
These actions by Binance indicate its strong response to what it perceives as false accusations by the SEC, potentially influencing the jury pool. Additionally, Binance’s legal team has accused the SEC of violating court rules as well as its own code of conduct. If Binance’s motion is approved by the judge, it could restrict the SEC from making certain public statements. Additionally, Binance claimed that these statements would lead to market confusion. The outcome of this legal dispute will undoubtedly have significant implications for Binance, the SEC, and the cryptocurrency sector.Despite some positive regulatory developments for Binance, the ongoing legal battle has already caused some damage to the exchange’s reputation.
These indicators suggested that the frequency of BNB trading witnessed a drop. Furthermore, the token’s Market Value to Realized Value ratio was negative. This indicated that a majority of BNB holders were currently not in a profitable position.