Topic: Another Fud or Its Reality? BTC is Down Again (Read 375 times)

The SEC's actions are repeated, and there is a lot of their involvement in various legal cases in the crypto industry. So for investors with significant amounts of capital at stake, news of legal actions against a major exchange can really be a cause for concern and can cause them to panic. reassess the safety of its investments. But really, it's not a big deal because there have been many times like this in the past, and after that, there was an amazing recovery. Let's wait for the possibility that BTC will return to the price of $30 in the near future.

Thanks for this insight, the last time I saw the price is around $25,700 and I was flabbergasted to see the price hitting $27k. So clearly there is manipulation behind by whales to pushed the price lower, maybe $25k flat.

But it didn't come, there could be speculators selling or noobs who think that the price will go down hard and then it's time for this manipulators or those who speculators to buy at a cheap price again because of this FUD.

Bitcoin has faced many challenges throughout its existence and has shown resilience in overcoming them. The price of Bitcoin has experienced volatility before various events and news in the past, but it has also proven resilient and reached new heights. While the SEC's lawsuit against Binance may not have an immediate and significant impact on the price of Bitcoin, it's worth considering that the crypto market can be affected by many factors beyond crashes. relating to individual exchanges Market sentiment, regulatory developments, economic conditions, and investor behavior all play a role in shaping the price of cryptocurrencies. As an investor, beware of news like this.

Hmm, I got a small glimpse of this scenario that day and then totally ignored it by just moving a few funds from there, I knew that the market will pretend to fall freely but after reading all of your compositions dear I think this is not at all related to the Bitcoin as a user on page 1 said: "CZ is not the CEO of BTC and BTC is not a community".

For the rest of the things market already made a decent recovery in the last few hours and coming back straight up to the $27K. So be patient we are on a good ride.

Markets are influenced not only by events and news but also by sentiments and perceptions. News of the regulatory issues surrounding Binance and its CEO CZ, can certainly cause concern and impact market behavior, especially for new entrants and individuals. risk averse. Look at how Binance has faced regulatory challenges in the past and has managed to overcome them, continuing to grow and maintain its position as a leading cryptocurrency exchange. CZ has demonstrated resourcefulness in finding ways to meet the needs of US customers while striving to comply with regulations. The interpretation of whether the current situation is Fear, Uncertainty, and Doubt (FUD) or a legitimate concern can vary between individuals. While the short-term impact of current events may be noticeable, this should not have much of an impact on the long-term development of the market.

With the current bart-pattern forming on short-term time-frames, it's starting to look like whales have somewhat manipulated the market/situation right now.



The FUD was designed to encourage shorts with sellers getting out of positions below $26K, but then buyers stepped in and we are now at the short squeeze level, whereby price going higher will likely liquidate a lot of short-term short positions who were targeting lower levels. The fact that Coinbase was served a lawsuit today from the SEC and price has risen, should show how bullish the market remains right now.

It's rare that I consider price movement to be market manipulation, but with news events like this that no doubt some speculators were aware was going to happen, and now the quick reversal back to the upside, it's hard to consider the likelihood that bears tried to push the price lower, but when the low of $25.5K was reached and they were unable to push prices lower, they instead look long positions back to the upside.

The reports regarding the SEC and Binance have been confirmed to be accurate. The fear, uncertainty, and doubt (FUD) surrounding this news have indeed resulted in a significant decline in the entire cryptocurrency market. Allow me to elaborate on the concept of FUD. It stands for "Fear, Uncertainty, and Doubt" and is commonly used to describe a situation where negative information or rumors cause individuals to become anxious about potential losses. As a result of the SEC's negative announcement, many holders in the market began to panic, fearing financial setbacks. Consequently, a wave of selling emerged, causing the market to turn red and further escalating people's concerns. This led to a massive sell-off and ultimately a market crash. Therefore, it is evident that FUD has influenced people's decisions to sell their holdings.

The Binance and SEC cases may end up in court, but crypto trading will continue even without Binance. I can't argue that maybe the US pushed a lot of thought into Binance putting its plans into action on CBDC. But the downside to this case is that the SEC has been seen as against crypto as a whole, not against Binance.

I will ignore this FUD as much as possible and stick to a long term investment plan in bitcoin. It doesn't matter if this case impacts the bitcoin price in the short term, I'm just sure that the price will recover soon.

Yes i wouldn't worry. Its more so Binance being negligent and skirting regulations purposefully. An being caught on both of us red handed technically. Again like one user before mentioned its going to be hard to defend against most of the factual accusations. Binance pockets are so deep they will likely fight it tooth and nail and end up paying a hefty fine and will be more regulated and transparent. Which will be good for crypto also.

Of course, having a popular crypto exchange like Binance sued by regulators can actually have a significant impact on the market, especially considering its status as a crypto exchange's largest element in terms of mass. Bitcoin has faced many challenges and negative events throughout its history, but it has shown resilience during and after market downturns. The decentralized nature, limited supply, and global recognition of Bitcoin have all contributed to its resilience under adverse circumstances in the past. So don't worry too much about this.

You have said everything, but you should know that CZ, Sec, and all other centralized exchanges, in general, have crooks in their cycle, none of them says or do what they say to the public, and their interest comes first before anyone.

There is no way CZ will want to claim that in about 130 pages that were presented to them by the SEC, they cannot deny all the allegations in that paper even when it is obvious that the SEC is doing a witch hunt against Binance, the manner which they handle Binance wasn't the way they treated Coinbase, I wonder how it would have become of the market if it was international Binance that was involved in this case. Rest assured, they will settle in court and the worst they can do Binance.us and CZ is to fine him and the business will continue as usual as if nothing ever happen.

I see that cases like this are things that sooner or later will be faced by Binance and several other exchanges operating in America. The SEC doesn't seem to want to see that they are bigger, so they are always monitoring and looking for faults on these exchanges. But if because of a case like this you say that this is the end of Bitcoin that is a big mistake. Bitcoin has experienced bleaker times and the proof is that it can rise and get stronger. I still see that Bitcoin still has a bright future. The bitcoin market that tends to decline is a natural thing because of the market response, it will definitely stabilize again and increase and maybe we will touch $ 30K USD this year.

It seems that the lawsuit is real, and since the SEC is asking the federal judge to freeze Binance's assets, I understand that it can cause a lot of panic on the market. After all, their assets probably include the money of their customers (perhaps just US customers, but maybe not), so people may be concerned about accessing their funds. It's never a good idea to store money on an exchange, and now would be a good time to withdraw if one has funds on Binance. As for wider impact, I hope Binance wins the lawsuit, but the proceedings can take a while. I think the BTC price change is temporary, though, just as an immediate reaction to the news. So, to clarify, the lawsuit is real, but the price is down due to FUD.

Obviously, This is tactically the US government trying to cause mass panic and market crash by going after Binance and Coinbase to pave way for CBDCs. The US government is like sees the crypto space as huge threat to their united state dollar hegemony as countries may use it to escape sanctions and I do think this is reason for all these law suits and why SEC has refused to come out with Its regulatory clarity on cryptos and plus the existence of cryptos may hinder their agenda to push forward CBDC's.

For a person with a large amount of investment, these news may be a valid reason to exit the market in question. Because people want to know that their investments are safe. What matters is where they hide their investments. I don't know if it's related to FUD. After this news, many people withdrew their Bitcoins to another exchange or wallet. That's the whole point for now. Or that's all I can see. I wonder what will happen next. Let's watch together how Binance will affect the market or how this case will progress. We are experiencing a very important event.

Bitcoin has survived many such incidents. He always stood upright. That's why I'm not worried.

There has been a sudden dump, but it isn't very significant, so I believe it's just temporary. Those who sold off may have panicked because they are not accustomed to the FUD (Fear, Uncertainty, and Doubt) in the crypto market. There is always negative news, and when it comes to lawsuits or anything that could tarnish the reputation of a particular exchange, we shouldn't immediately believe it. Binance and its CEO will surely fight for their rights and strive to win any case brought against them.

If we witness a dump, it's not a problem as we consider it an opportunity, as long as we maintain our belief that Binance is here to survive and thrive in the long run.

What happened in Binance recently, in my opinion, was definitely a manipulation. There have been several complaints and charges leveled at Binance in the past, and nothing has been done to tackle them. According to my observations, whenever there is bad news in the market, the price falls. Fundamentals can be used as a strong confluence on your technical analysis in most cases if you know how to analyze the market. So, whatever news I received about Binance, I believe it was designed to manipulate the price.

The latest breaking news is that Coinbase is now also being sued by the SEC in a co-ordinated attack on crypto exchanges:
https://cointelegraph.com/news/sec-sues-coinbase-crypto-exchange

It very much looks like they wanted to take cryptocurrencies down a peg, even if this doesn't affect the likes of Bitcoin and Ethereum that have avoided being labelled as securities. Within 2 days 2 exchanges have now faced lawsuits. I wouldn't be surprised to see more this week, such as Kucoin, ByBit or OKX, etc. It looks like they aren't just targeting the biggest exchange, but potentially a handful of them.

The reason I say this is as they have already listed 61 altcoins that are securities, and naturally there are many other big exchanges that offer these coins pairs. Potentially they will wait for a few big lawsuits to play out in their favour, but if they do, they will no doubt issue more lawsuits against numerous exchanges, if there is a lot of dollar to be made by getting settlements without the court cases.

I just had a short chat with a few friends about the price issue of the market in the last few hours, most of them know about the main reason being the SEC and CZ and Binance controversy. But I find the problem is that most people just look at the news and consider it negative, and making the decision to sell, the crowd mentality reacts clearly with the suspicion and fear of everyone future people. This discussion I think will continue going forward, although not too concerned about how the price will move but I see people are more oriented to the news than to the news. stay comfortable with it. The story will soften as people continue to look to the long-term future that the bitcoin price will one day cross the $100000 mark and beyond.

The SEC is going after exchanges and altcoins but Bitcoin is getting immune to these attacks. FUD generated by these attacks will have some negative impact on the price of Bitcoin but it will not last because investors will always return to Bitcoin. It is the best investment in the crypto space so after FUD FOMO will set in.


The crypto space should be guided by openness and transparency. When a company is hiding its operations from the eyes of the public, then something fishy is happening in secrets. Exchanges or crypto firms that engage in fraudulent or criminal activities should be pushed out of the sector because they will always cause harm and discourage people from appreciating the sector. It will be to the advantage of the crypto space if these shady billionaires expose their secrets because it will help to sanitize the sector.

Sick and tired of this bullshit FUD of SEC, they are really making moves and desperate to take the biggest exchange of crypto and that's Binance. FUD has been there for many years now but they never succeed in the end because crypto always win no matter how hard they tried. OG crypto people will just laugh this kind of news because we all know this will not last long enough as the market rally back up again. Nonetheless, Binance will fight SEC until the end and they know that CZ will never back down.

Binance been sued by SEC will not have any big impact on bitcoin price,bitcoin has survived so many challenges and the price is 25k. This shows that bitcoin will overcome whatever plans the US government are bringing to ban crypto of to have a bad side effect on bitcoin to go very dip will only last for a short. As for Binance,investors will transfer their coins to a safer wallet to be on the safe side.

Panic not,this is not new anymore instead you should see the dip as an opportunity to buy more to your bitcoin portfolio because soon the price will pump again. Relax and be happy that bitcoin is a store of value and will always prove to the government that it is beyond their control of bringing bitcoin down. The most important thing is that
1BTC = 1BTC.

Yeah, I also see it as a FUD, and SEC has done it not just once but many times and they've done it as well against Ripple. There are basis but I wouldn't let myself be invested in this news. While those people claim that if Binance goes down then crypto will go to zero. Come on, these people just want everyone to panic so that you'll be selling what you've got and they'll be buying all of those cheap Bitcoins. Again, this market isn't for the fainted heart and any news that's related to these exchanges doesn't have something to do with Bitcoin directly. Yes, they could affect the price but that's temporary.

Sure enough, the present-day legal kerfuffle engulfing Binance and its magnetic chief Changpeng Zhao has rocked the crypto scene like a quake. You've painted a lucid sketch of the turmoil with your insights, but allow me to chip in my two cents. Straight off the bat, from a scholarly standpoint, it's a must to remember that markets thrive on intel and sentiments. The gossip of court cases against such a heavyweight crypto platform could quite naturally spark a sell-off frenzy, especially among the freshies and the risk-shy folks.

But let's put this in perspective. Binance has had its share of legal run-ins before, and still, it's been soldiering on, outdoing itself and hogging the crypto exchange spotlight. CZ, the man's been crafty in dodging the rulebook, but his motive appears transparent enough: he's keen on keeping the US clientele happy. Now comes the million-dollar question - Is it FUD? Views may vary. For some, it's a legit worry; for others, it's just a temporary hiccup. In the end, it's the market players who will call the shots. As for Bitcoin feeling the heat, there's no denying the short-term blow could be significant. But let's not lose sight of the fact: Bitcoin has weathered far bigger storms. This episode could just be another notch in its robust journey.

If Bitcoin goes down because of Binance getting sued then so what? Eventually people will forget about all this in a few years time and the Bitcoin price will go up again when other developments kick in.


They should mop up the bottom 95% of crypto first. [Not so] shockingly [to anyone who has an idea of how crypto works], these coins are vaporware and have absolutely no use. Assuming there are 5000 and tokens and coins listed, only the largest 250 survive.

What else can one say than to withdraw your funds from the Binance exchange? I got the news very earlier yesterday and I watched how the price started to sink, I don't know how CZ will go about this but I trust he will not go down without a fight, SEC is a corrupt shit, they focused on Binance exchange more than anything, because it's the leading crypto exchange.

Many altcoins have been labeled as securities by the SEC, this was at the same time when the news about CZ breaking the rules was released, and most altcoins on the list are those with ISO 20022, I believe these will be the most affected.

I think it's time for Binance to abandon the US and find a different location, Singapore will be better, or a more crypto-friendly country.

I have a feeling this is going to happen and That's why I set buy orders 5% below the actual price. Catching flash crashes worked well so far. If it’s quick rebound, then SEC helped me to make some very quick money. The SEC is truly coming big on Crypto this year, will be interesting to see how much survives at the end of this year.

Honestly, I have been thinking about what will happen next in the crypto space that will affect the market once again, when things was going as planned in 2019 and we all thought that we are in the recovery stages then the CovID came out of nowhere.

No wonder I wasn't satisfied yet, I knew something like this would possibly happen, I know CZ have created many enemies for Binance exchange the moment he leaked out the secret of Sam and FTX, I don't expect Sam's people to stay silent and not do anything about it, that includes his family.

Now it looked like the revenge is been served, successfully.

What I like about crypto space is that, these type of unexpected events don't always last longer, a part of me will be happy that the market crashed again and the other part of me will be sad because this bear market can last even longer, but all is well if you are here for the long term anyway.

Even if Binance will this, it's still not the end, I know those that are doing this behind the curtain, an Italian man is involved as well, I wished CZ never came out in the public to unveil what FTX was doing all along, CZ should have leaked this shit using someone else, not himself.

1.Trading volume can decrease right now and increase after several months. I don't think that trading volume is such an important metric.
2.BTC dominance going down? Do you really think that the altcoins will stay bullish, when Binance gets out of business? I think that the entire crypto market will get affected in the short term. There's no reason to worry, though.
3.Most crypto traders/investors are just "sheep". They are cowards and every time something bad happens, they just panic and sell.
The crypto markets will be fine in the long term. The crypto world can survive without Binance(if Binance really gets shut down).

Not your key not your btc

Lets withdraw your crypto on exchange, save it on your own wallet

What SEC is not seeing is that Binance will fight this. Binance is richer than Ripple and can last more than a decade fighting this case but at the same time the exchange will really be moving out US.

The more it wil be harder for US to regulate crypto outside their country. SEC is looking for another victim as Ripple seem to have got away.

I gat your point but that doesn't mean that you aren't a holder, whatever volume you have is considered enough to be called and investors, just that your weren't holding enough volume. When things like this occurs people who often hold little volume quickly sells off their bitcoin and wait for the best time to buy more which they are targeting for the market to dip.

I wouldn't say it's FUD, they have been served with the lawsuit already.

But the thing is that it just shows really how the US government is undermining everything related to crypto at this point.

The only narrative that I saw behind all of this attacks is that they are pushing for their CBDC platform, and working together with other big banks. Anyway, I think the future still looks bright for crypto. If US doesn't want it, or having a hard stance, then the exodus has started already.

that is very correct! they are separate entities and people understand this situation by now. and maybe this is the reason why Teng is said to replaced CZ with the role because of his experiences regarding regulators
Binance Hands Rising Star Teng Key Role to Replace CEO Zhao at Largest Crypto Exchange
so the up and down movement of btc may be influenced by some news surrounding crypto, because of the fud but the reality is no matter we will encounter in this market, btc will always bounce.

Well I won't count myself as a BTC whale investor yet but like you said this is a good chance again for people  who knows the importance of a market price dip to actually buy as much you bitcoin as you can during this crucial time because like you said it won't probably last long so its actually the best time to hoard and not to panic and pull off your investment because bitcoin will certainly rise back it just boils down to the prime factor of ti me.

I think a lot of people have believed for a long time that Binance and CZ  were not going to be sued by the government. And now people are spooked that their scammy exchange might actually have to answer to the law. This is not to say that other exchanges are perfect or even better, just that very are not one of the better ones. Bigger yes but they have done so much shady crap over the years black even if the government didn't want to go after them or crypto exchanges in general after the FTX debacle they didn't have a choice due to what Binance and CZ are doing.

Here is a helpful tip: https://www.youtube.com/watch?v=BJF-wVW1F2o

-Dave

Yeah it is FUD not for Bitcoin but for BNB.  I don't think this is the reason of Bitcoin downtrend.  If Binance is having problem because it is being sued, people who have funds on the exchange can just withdraw it and deposit on another exchange.  CZ exchange problem is its own problem and people have learned that exchanges and Bitcoin are two different things so I think this must not have a huge impact on the price of BTC.

Well, hard to tell even if pattern is already there. If we would base from the chart in all timeframes, BTC is expected to go lower. However, the market moves unexpectedly especially if huge investors would interfere. A spike on its value could still happen all of a sudden. If ever its price could continue falling until $23.5k  it could open another possibility for a lower market value around $20.5k. For those who are planning to invest, I think it would be better to wait a little longer and to those who are holding, be patient. Once gaps are reached, recovery may happen 'coz of buyer's zone which would be a spring. For sure, long term investors are prepared for this.

Binance US accounts for less than 5% of its trades. This is just a massive FUD, the SEC are going after crypto.

Let’s remember that bitcoin isn’t listed in the supposed assets that the SEC are branding securities. This isn’t about bitcoin even if short term, it has been part of the reason we are down over 6%. This might he a temporary problem for Binance & CZ but it is not in any way terminal to bitcoin.

It’s a nothing burger, price will recover, nothing to worry about.

More of a reality if you ask me, binance is the largest crypto trading firm in the world in terms of volume, so there is absolutely no way such a news of them being sued by the sec, won't affect the market negatively..

But why I am particularly not very much worried about this whole thing is that, I've known bitcoin to be a very resilient asset, it will scale through this issue again like it has always done, so let's keep our fingers crossed 🤞 and hope for the best.

what its more about is creating rules that make it easy for US domestic institutions to jump over the barriers of entry for operating a business in crypto but making it a pain for non US companies or small scale businesses to be US approved.
this is their meaning of "US crypto friendly"

they want to set the barriers of entry so that little guys or guys not in the US, to have a bigger ordeal to be legitimate businesses in america. trying to get international companies to move their HQ into america so they can then tax the hell out of those businesses and then be in the jurisdiction for other legal compliance stuff like tax reporting on their customers.

its also why the US is stalling for as long as possible any regulatory template for a ETF. because they do not like the current line up of candidates wanting to operate an ETF. so they are hoping one of the well known top wall street institutions offer to propose to be a ETF service so they can set the barriers of entry to that level to ensure little guys and international guys cant offer ETF cheaply

I’m by no means someone who believes CZ has never done something wronng or anything, but am I the only one who thinks this is just another hit from US in an attempt to destroy crypto? They’re seemingly trying to target some of the largest pillars of crypto.. and I think that’s for a reason. Everyone knows that with Binance’s downfall there’s a huge damage we hve to deal with.

I’m just wondering, why suing all of a sudden? Couldn’t it be a warning beforehand? Binance is building a company of many billions with their US business. Do you guys have any logical explanation as to why the SEC has decided to take this route?

SEC have sued binance, binance.us and its founder Changpeng Zhao. Offering unregistered securities to the general public is the reason behind it. More cryptocurrencies on the top order were also found to be unregistered securities. In the past 24 hrs, most of the cryptocurrencies have fallen down between 5-9% and the unexpected drop have happened. This will create some panic wave around the market. Various predictions have come and the least to reach is predicted to be $24.5k, and it is good time to buy to make some profit in the short term.

I know something very strong must have happened before we could see this downline, although this might not last longer i believe after sometimes the markets will stabilized again, normally in case like this traders always think of safety aspect of it to secure their investment either by pulling out their assets to safe custodian wallet or they quickly converts to stablecoin to secure their investment. At the point of executing this action that has brought so much break down in the market, so traders are really taking precaution especially the little holders while the whales see's it as an opportunity to hold more bitcoin and any other reputable coin that they have been admiring for the price to dip before acquiring them.

firstly people need to learn alot of things about crypto

bitcoins "store of value" is not based on its volatile market price nor any "high" . its based on an underlying bottom (non zero) value that gets periodically tested during times of dips. the speculative market above the bottomline value is always speculative and volatile. it moves up and down alot. so dont get too excited or exhausted by monitoring all the 5% swings.. its normal to see these.

this store of value is not some reserve amoutn stored in a bank of fiat money. its just a bottomline number statistic of non zero where the bitcoin price wont go down below unless bitcoin truly breaks

when a market price moves by 5%. this does not mean that there is some bank account of reserves that "disappear" .. there is no $XYZmillion "disappear" event

market prices are based on the events of small amount of coin offers that trigger price changes of small amount of coins.
a "market cap" is not a reserve of fiat money either. its just a BAD MATH of multiplying the current price by circulation of a currency.. but this still does not mean that fiat money has gone missing or disappeared. its just a bad math stat. nothing more


as for binance the main target is the "binance coin" which is being titled as a unauthorised security. so ofcourse anyone holding "binance coin" are going to sell it and get rid of their stash of it when the SEC says that its not a authorized security. they dont want to hold onto a bag of crap if binance are forced to stop trading it. becasue then where can people trade it to get out after its shut off.. in short they cant. so they will sell it before that possibility occurs

Is that what happened?  it was very surprising to see the market today, in a few days I was optimistic that bitcoin and altcoins would go up slowly, but today I was very surprised because the price of all tokens fell dramatically in one day.  even all altcoins are down, lots of losses today. 

People are not exiting the market, they are exiting the exchange in question, they hold such a significant amount of Bitcoin that the news of them getting sued is enough to cause a wide spread panic among their investors.

There might also be some that would panic sell cause of the expected drop in price, or some that would try to short Bitcoin for a profit.

Do you actually know what FUD is?

As many of you, must have heard the news of SEC sues Binance and its CEO Changpeng Zhao. And this has a great effect on the market as around $3.7 Billion dollars has vanished in 15 minutes only from BTC and Alts Source. Currently, BTC is 5+% down and still going down because of this news has created fud among early, new, and less capital investors. People are trying to withdraw their BTC to fiat or any other stablecoin (pegged). Why? this news has made so much impact on the market and why people fall for this FUD. Or is it really a FUD? Before declaring anything or acting on anything, we should shed some light on what is happening to the market.
You should keep this image in your mind and then read the following.
SEC and CFTC had sued Binance and CZ so many times, and we have been reading that news and ignoring them as those were at the lower level (i think), plus CZ always comes up on Twitter with something encouraging that could avoid people stopping panicking. And he still posted on Twitter Handle that it's a FUD. But still, people are leaving the market and so much BTC has been liquidated too.
Main Reason Behind this downtrend
Now SEC has sued Binance and CZ they are helping US citizens to get access to their Binance (US) exchange intentionally using their BM Trading Platform (As it can be seen above the Binance US). Well, That's not something new, As a few days ago CFTC also said that, and it was also discussed before.

• Binance and founder Changpeng Zhao violated compliance rules to attract U.S. users, CFTC alleges

Climax here is, SEC has found out that, the BAM Trading platform is directly linked to the US Binance exchange. How Bam Trading platform is linked to CZ, Go through the pic again and check the connection of US Binance to CZ and how much CZ holds in shares to BAM trading. Well, in the short story, SEC and CFTC sued CZ and Binance before, that, they are not registered with us and they should be banned for US citizens but CZ always come up with some unique plans to provide access to US citizen like, before he was alleged by SEC that, he made some VPN services for high class, VIP investors and traders of Binance so that they could keep using the Binance and Binance could generate millions of dollars in just fee money.

And we know that the US does not like that another person works on their soil without paying taxes or complying with us and still making millions of dollars. Well, no wonder there must be other factors too, on which SEC wants to control and they have to follow those rules and regulations to avoid streamlined adoption of crypto, My personal view on it does not matter, because those who have access to Binance and wants to make money (or want to use Binance) will definitely use it without fear of any regulation.

Coming back to the story, So, Binance was prohibited to provide access to US citizens and hence it was providing access to them using its unregulated platform (BAM Trading). So, People could keep using the features of (buy, sell, and trade crypto, asset securities) through an unregistered trading platform that directly links back to Binance and to CZ (CEO).
They also mention in their case that, BAM Trading provided the sales of unregistered assets (BNB and BUSD) and US citizens could access the feature of Binance ("BNB Vault" and "Simple Earn") through BAM Trading Platform which is the product of CZ (that what SEC says). In the Document, they also said that BAM has raised around $200 million of dollars which directly benefits CZ and the Binance platform.

Well, i could write the whole points that has SEC alleged CZ and Binance for but this is of no good here, because everyone could read it directly. So here is the link to read it.

You should read the reply from CZ's US Binance platform to SEC.

Now, How BTC is being Effected by this FUD
The answer is simple FUD and FUD, (i am not trying to accuse anyone here just stating the facts) people are exiting from the market as i mentioned above and volume is decreasing which is a bad sign. The dominance of BTC will decrease. I wonder what would have created so much panic among lower-class traders and investors who have exited the market. I think most of them are in Telegram and Discord groups and those groups sometimes share the news without confirming it, like i hear the news that CZ will leave the slot of CEO for Binance and "Teng Key" will become the new CEO. (Source). You might be wondering if that, news would have a big impact but it was shared about 8 to 10 hours ago that CZ will replace by Teng Key and some Telegram Influencer use these types of news in such scenarios which encourage investors and traders who are facing big losses, who can not think straight due to loss of big money and some of them fall prey to such news without even checking the source or background. Because we all know if you want to take action then it must be hurry because till then you could lose more and more.

Another reason is those countries like mine, whose governments have seized the use of Crypto exchanges and banned crypto all over the country, we are already living under the roof of pressure and such news will put more pressure on that roof.

Now, what will happen to the market, how down it will go? is there still room to go down or hitting $25k was the target?