Topic: SEC Lawsuit Against Binance Is Likely To Hit Bitcoin Price (Read 659 times)

Rumors are getting warmer, especially the two points above. There are issues that arise. Missing one is born another. Yes. like that Keep scrolling here and there. What is certain is that it is not the time for the market to take off and return to normal again. . Binance. Yes. everything is made for its users to be safe and this is from my positive point of view.

Yes, they have. And every time they basically evade consequence and find a way around it.

The only reason why Binance continues to survive is because they are at minimum quietly supported by Chinese/eastern governments, and at maximum already an asset used by governments and closely working with CZ in the goal to retain economic power.

With this in mind, they can easily leave the US, or ignore the SEC, and continue to operate (probably wherever they want). What are the SEC going to do about it? Kick and scream in the media? Try to take them to international court? Maybe both...but until the judge slams the hammer they'll still continue to operate.

I think everyone severely underestimates the amount of economic and political power Binance have, and have behind them.

Let Binance decide how it does business in the European, Western, and Eastern markets because they are fundamentally exchanges that are supposed to be volatile. As for how Binance's policies comply with the rules of a country, it has nothing to do with bitcoin.

I'm sure if they withdraw from markets that have a large user base, then the impact on the bitcoin price would be very obvious, it would be able to see the price correct deeply, but I think it's only a temporary impact.

Currently, if you look at developments from some time ago, Binance has faced scrutiny and warnings from regulatory authorities in several countries, including the US. If Binance stops its operations in the Western market, I think it has the potential to affect the trust and confidence of investors, especially those who are more concerned with regulatory compliance. If Binance ignores the SEC and continues to operate in European and eastern markets as you said above, it may could be. But, I think it could face legal consequences that could hinder Binence's operations and reputation. Going forward, going backwards is hitting Binence.

Coinbase primarily moderate in the US. Without US business and abilit to have infrastructure or employnent there, they'll fail. If they stop operating there (due to SEC or to avoid the case) I doubt that they'll be able to operate freely with any other western country.

I think it's more likely for Binance to cease western operations, disregard the SEC and continue operating in european and eastern markets in comparison to Coinbase operating elsswhere.

Most likely Coinbase has plan B already, getting out of the US market, so again the effect might not be substantial.


This has been in the news for so long, specially the Mt. Gox rehabilitation, and yet prices remain steadily.


This is the current issue that we have, I wouldn't say it's very big though, it's not like a black swan event or something. But everyone is on this one, we are all fixated as to what will be the outcome of the lawsuit. SEC is big and I doubt that they are going to lose this battle against Binance. But Binance is all prepared as well. So it will be interesting as what will be the outcome in the next coming months. Or when the decision is handed down.

Probably. But Bitcoin still remains as the largest network in market valuation and adoption, and I am very confident that it will continue to exist, live longer than 99% of all cryptocurrency networks for decades.

 

Where are those shitcoin networks like Dash, Steem, EOS, NXT, Waves, Ethereum Classic and Decred. Some of them proclaiming themselves as the "Next Bitcoin".

-- I honestly liked Decred because they have smart developers, but the coin is probably dead.

The next FUD, or hits to BTC price (if catalysts don't prevail) include:
- Coinbase being forced to stop services and liquidate assets due to ongoing SEC scrutiny
- US selling seized coins
- Mtgox payments

Binance and the SEC will be at heads forever. The fact is that Binance will never be touched by the SEC outside of their ability to limit their services in western countries. China have closed ties with Binance and there's no reason to believe that this will ever not be the case. Binance is a huge asset to China in the war that is controlling cryptocurrency.

I guess it's over now, I mean the effect has short shell life for bitcoin. And after the Binance case and the whole FUD behind it, the price has recovered already to $30k. But still though our thought process should be long term here. Yeah, we are all glad that $30k has been punch and it seems that we are maintaining it right now.

But next 6 months? a year from now? this SEC vs Binance could have been forgotten when the price goes to 6 digits at least. And maybe we can call it a blessing because when the price goes to $25k-$26k, there could be retail investors who could have bought in that price and now are in the profits.

Do we have to care about Binance that much, they can care about their own business.  Is Bitcoin really reliant on one website in that way, I hope they do great business and their customers really like them.  What is of far more concern to me is if we are so wobbly on our ladder up that we could topple over if Binance doesn't do well or not, I dont care and I shouldn't have to.  That company benefits from this ecosystem not vice versa especially, its my hope we aren't that wobbly and precariously arranged to fall over if a company cant as easily make the profits it had wished for.   BTC hopefully is more diverse and evolving more broadly then just websites and a popular CEO etc.

That's true but I wouldn't say "they didn't work" because the fact that all of these efforts have succeeded in keeping the price from rising is a success for those trying to attack bitcoin. Otherwise the long term trend for the past 14 years should have been a big rise where price is currently sitting somewhere around $100k not still struggling at $30k level.

Yeah, I think if we want it to be simple and not complicate things on our end and think on when the price will go up or if the price nose dive because of whole SEC drama against Binance, it might be better to just buy in DIP and HODL.

DCA is one way, or if we have a huge capital then we can simple buy one time and put it on our wallet for safe keeping and just go back when the price hits all time high in the next coming years. For the lawsuit, we haven't heard any update yet from either side. But it's obvious that CZ will really fight this one. If most likely he will have his next move after the decision or maybe he has his plans already set in motion if ever he loses this case.

To that I have and will always say, Buy the DIP and HODL. Don't allow yourself to be the one getting front-run by the billionaires. We should be the people front-running them.

We're in BitcoinTalk, trying to learn more about the network, getting more information, understanding different perspectives, AND debating about the price almost everyday. I believe that should help us find better probabilities to bid close at the best entries.

 

Various ways are done to bring down Bitcoin and even they look hypocritical, just to bring it down and be able to buy at a low price.
The SEC seems to want to attack everything and wants to dominate all laws in the US.

The BlackRock ETF was rejected, but that won't matter.
Bitcoin doesn't really need it, it can still survive all the FUD and manipulation.

As crypto users we also don't need to worry, this kind of FUD and manipulation is the best opportunity to buy cheaply because that's what Whales want.
No need to panic, remember that the Halving will happen soon. Diamond Hand will provide many benefits.

I think the price is so low not because someone is selling a lot, but because not many people want to buy bitcoin right now. The exchanges have small buying volumes, so you only have to sell a few times before the price starts to fall even lower. There is a lot of noise around exchanges right now, so it will probably stay that way for a while.

It won't matter if the SEC doesn't approve BlackRock's ETF application. Bitcoin will ALWAYS be fine because if you haven't noticed, they tried market manipulation, politics, FUD, network congestion, breaking crypto exchanges, and NONE of them worked to crash the market or to break the network. The Honey Badger simply don't care. We would be very lucky to catch a bid under $20,000.

Bitcoin doesn't need an ETF, but they probably do.

We have analyzed every event related to the decline of Bitcoin and all the news just temporarily paralyzed the market, I assume it is just a normal market correction even without FUD news which seems to influence the market to be forced down significantly in a short time, because I have predicted the market before that the area a $25k correction is imminent and I have prepared a fund for a $20-25k buy area on a DCA basis in anticipation of the probability that the price could be lower than our predicted price.

Based on the current price, it is predicted that the price recovery opportunity will be faster or less than 2 months, but we never know bad possibilities can occur if there is news that will worsen the current crypto market situation, but in the end nothing can tear down the crypto market in terms of anywhere because the support of the global crypto community remains solid improving cryptocurrency achieving unlimited goals without any entity, group/organization even government to influence our goals.

I think it's quite obvious that it's not going to be easy to keep the price this low, I get that people sold and got out and this news was a bad news but that doesn't mean that we are going to end up with a terrible result just because of this news, it's not going to stay.

Do you know how many bitcoins need to be sold every single day to keep the price this low? Sure, when a bad news like this happens we have that and more, but when there is no bad news, or the bad news is now old news, it's not going to be that simple, we are not going to see it happen that frequently. So, this is why sustaining a low price at bitcoin world is the hardest thing and it will eventually go up. We need to focus on doing a lot better and it will happen only if we wait.

It will definitely go away, we have seen like Mt. Gox and then all the hacks that had happen, China banning mining, pandemic and wars and yet bitcoin is still standing has remain very strong. So this is just another test for us, maybe not as worst as the FTX and Terra Luna last year, but still there is an impact in the market as the price drop to $25k.

Most likely the recovery will be long term, that's where we are looking at it right now. Again, this is just a test and it's really difficult, nevertheless there is a light at the end of the tunnel so to speak. Give at least 6 months short term, and then wait for the halving next year, long term.

The SEC has hit the price of bitcoin and has had a negative impact on the market, but I hope that slowly this problem will go away when everyone realizes that bitcoin has nothing to do with the SEC. Basically the SEC only attacks Binance and a few other centralized platforms, so we have to be pretty good at anticipating and having the right mindset about bitcoin.

The price of bitcoin will soon recover in both the short and long term, so patience and good management of emotions will definitely help a lot. Don't panic with the response of traders in the market even if they sell without much consideration, so hold on and expect returns worth it with all the risks so far.

I guess that's why people are saying that we are in the bear market, so technically the price can drop anytime and with that negative news around its sure a formula for a disaster. Nevertheless, even if we are in the $25k'ish, it is still well above the last lowest low or bottom price from last year. So it might not be a good sign that we are down, but we could say that the price is still at our support level.

Of course, we should be patience, although the halving is less than a year a from and we might think that it is still very long, time fly so fast, we are now in the middle of the year and in the next 6 months, we might not felt it but we will be in December and then at the start of the new year. So we just need to be ready if the price drops and then continue to accumulate.

Considering it's barely at 25k today and not really looking great overall seems like there is a bit of dangerous act in play for the time being. I believe that even though Binance news is not a big news, and even though it could be manipulation, that doesn't change the fact that it did impact the price a lot.

This is why we should be seeing something different, we should be seeing it do a lot better, and I hope that it would be a lot better in the future as well. I know that people are not going to change anything too much to avoid whenever manipulation happens, people act like it's obvious but then the price goes down which means that even if whales obviously play with the market, they get away with it because there are too many of us who fall for it.

Good at least there are still companies like Microstrategy and BlackRock who knows how to play this game and then buying with the price is down. I can't answer the question though regarding if SEC will approved or deny it. But looking at the SEC on how many companies have applied for a spot and Bitcoin ETF, they just keep on rejecting it. So I wouldn't be surprised if this will be case here again for BlackRock as it seems that the US government or at least who is sitting right now is going anti-crypto and having a hard line stance.

Not quite true, that If I look at the perspective you are expressing suggests that the SEC lawsuit against Binance could have a negative impact on the price of Bitcoin and raises questions about the potential ramifications for other crypto exchange companies.

In fact, judging from market dynamics, investor sentiment and market resilience, the cryptocurrency market has shown resilience in the face of regulatory actions and negative news in the past. Yes. While the SEC lawsuit against Binance may initially lead to a drop in the price of Bitcoin, it is important to recognize that market reactions can be temporary and depend on a variety of factors. As far as I know the price of Bitcoin and other cryptocurrencies is affected by many factors beyond individual lawsuits or regulatory actions including investor sentiment, market trends, macroeconomic conditions and global events. While regulatory measures can have short-term effects.

On the other hand, the global nature of the cryptocurrency market allows investors to diversify their holdings across various exchanges and jurisdictions. While the SEC's jurisdiction primarily covers the United States, many cryptocurrency exchanges operate outside the United States and may be less vulnerable to the direct impact of SEC actions. Investors can explore opportunities on global exchanges, potentially reducing the concentration of risk associated with a single regulatory body.

For today's market, if you look at it. In the short term, if the Bitcoin price stays above the $24,800 level, there is likely to be a bearish retest to the May low of 25.7K. These retests can cause a bit of a headache for traders who short-term beforehand, resulting in price pressure that makes them feel the loss before the next downward price move.


The regulatory landscape surrounding cryptocurrencies is evolving, and exchanges are increasingly taking steps to ensure compliance with relevant regulations. If there is action there is bound to be a backlash and it is acknowledged that regulatory actions may create short-term disruption but they may also contribute to the maturation and legitimacy of the industry in the long term where As exchanges adapt and implement strong compliance measures they may be in a better position both to mitigate regulatory risks and avoid significant damage to the cryptocurrency market as a whole. If there is a crypto exchange company platform when it is confirmed and avoided, it is very easy for the SEC to read where it is going. This is just an example from me because it's not without reason, they work protected by law and the state.

There's no US SEC lawsuit on Binance and the other big cryptocurrency exchange won't affect the Bitcoin market price but they are doing their job in a selfish way that is why Mark Cuban said "They are throwing crypto startups under the bus" because the market is currently in the panic caused by the Ordinal Inscriptions.

Yes, but the only way is to register with the appropriate firm and follow the rules and regulations of the US SEC. Their rules seem to be complicated if not most of the CEX won't have a problem with them.

Nothing surprising on which these government sectors would really love on engaging into something which would they do see on having the chance on altering out the current trend specially if this one is really that correlated with bitcoin or crypto as a whole. It wont really be shocking these government agencies would really love on stirring up on this market on which it could really potentially make out some effects here on the market but not really that something that you could really be boggled because no matter how bad the market would really be going down, there's always that recovery on which the price would be starting out to climb up. Manipulative kind of approach or target? Possible but we cant really be able to make out some conclusions because we know that government would really be always having the time and the power
on doing so and there's nothing we can do about it. The important thing on here is that Bitcoin do able to sustain it out despite of these conditions or situations.

I simply observed the SEC of the US why they are doing things to attack the well-known crypto exchanges in this industry. Primarily to confuse investors and traders. I just noticed this yesterday in addition to the harassment they do with cryptocurrency exchanges.

They will say it is paused first but then they will raise interest again, but the truth is that their target is to reduce inflation by 3-4%. Or they may raise nothing more depending on them because they really just want to manipulate what is happening in the market. But anyway, the best solution for the crypto exchanges it is for Binance and Coinbase to move to a country where crypto or bitcoin is welcome here.

something unbelievable that I've seen until today and that I thought it was over and this thing of people in the cryptocurrency market are always victimizing themselves thinking that whenever regulators are doing their job it's because they don't like cryptocurrencies and are chasing cryptocurrencies to destroy cryptocurrencies, when in fact and deep down they know that this is not true. regulators are there to supervise and make people comply with the laws, all exchanges know that each country has laws, so it is the duty of exchanges to have a legal department that gives them advice on how to proceed

to avoid having problems with governments, when exchanges comply with all laws then they will not have problems, this is simple in theory, but what has been seen is that in practice exchanges do not have a legal department, and that is why they operate breaking the laws after the regulators sue them, then a big problem starts that affects the whole market and for the exchange they have a clean image they keep using arguments that it is the regulators who are acting badly against the exchange and that the exchange is innocent, but well in the people know deep down that something is wrong and that's why the price starts to drop a lot, because people don't believe or trust what the exchange is saying

The lawsuit will affect the Bitcoin price but it won't cause much damage. One of the reasons for this is that SEC is suing Binance.US and its CEO. America is a big market but it's not the only place that Binance does business.
Things seem to be going well for Binance in court anyway. SEC made a motion to the court to freeze Binance's assets to protect billions of U.S. citizens' assets. The motion was denied because according to Binance, if their assets are frozen, they won't have resources to run their business while on trial and that will mean putting them out of business before even going to court.

I don't think this is possible. I do not know the technicalities of these rules and regulations but it's very difficult to do business as a crypto exchange in the U.S. in a way the SEC won't come knocking, especially as a big exchange. Most times I feel they are just trying to shake the tree and see what falls. They're just doing their job.

Will the Sec war vs binance have an effect on the value of Bitcoin and other assets,  the answer is yes but its effect will be short-term effect and not long from now the price will recover and those who chose to hold for a long will be in gain by then,  and as a matter of fact,  speculating the price of bitcoin at this crisis period is a kind of risky because it unclear where the price is heading to in the next minutes.

But the grips of the sec lawsuit won't hold us down for long and as a matter of fact, the bitcoin bitcoin is already showing some recovery signs already and that goes along to point to the weakness of the fund at the moment.

Of course SEC has nothing against Bitcoin, but they are definitely trying their best to find a reason to go against it. It's what regulators do. But they will fail either way.

The biggest problem that I see with this lawsuit is that Binance is deeply intertwined with Bitcoins speculative value. So if Binance takes a hit, Bitcoin price too takes a hit.

The whales of course are only happy to add FUD and Fomo into the whole mess, so they can buy cheap Bitcoin from the panic sellers.

It's always been like this. Just hold and don't panic.

As you might have said cheap and scoop, I think it was the big players like BlackRock a one of the many big financial company that buying at this level. It was indeed one of the shareholders/owners on Microstrategy and just saw a news this day on coindesk that BlackRock wanted to file a Bitcoin ETF. This isn't a coincidence and would the SEC deny it once again if it's regarding a spot Bitcoin ETF?

Edit: It was confirmed a spot Bitcoin ETF filed by BlackRock source: https://twitter.com/EricBalchunas/status/1669447691787444224?t=8G1gY_8x-_faXd2OmQgPzA&s=19

And you hit it on the bull eyes mate, Yeah, the spike to $27k after the initial news of Binance being sued by US SEC might be form or manipulation. And then we stay on the resistance level of $25k-$26k for sometime. But in the last 24 hours, maybe it was not due to the this news already, or it might be the effect of the pause of rate hike by Feds, the price suddenly goes down below $25k and it might still continue to drop to $23k-$24 maybe at the end of the month. I know, it's negative to us, but still though, another perfect chance to us to scope cheap bitcoin and grow our holdings.

To be honest we should be aware of the valuations that exist on centralized exchanges, it is quite a large contribution to the price movement in bitcoin especially for all coins on the market, the worst news we have ever experienced was the FTX bankruptcy, and indeed if the policy bureau of the Federal Reserve is fighting crypto it has a pretty good impact on the price on the market. What the SEC is doing has a very impact on the mentality of a bitcoin holder, but those who see that this is an opportunity to collect bitcoin at low prices are very smart people to take the decision to continue to accumulate bitcoins, what happened today is quite rare which is indeed an opportunity for us to take some bitcoins, for further Bitcoin ATH capital.

The security and exchange commission mightn't stop attacking cryptocurency centralized exchange but they won't have much impact on the market as this current lawsuit did. Binance and Coinbase exchange are giant in the market that's why they're having impact.

Centralized exchange in the US should stop offering service to security and they won't have any problem with the US security and exchange commission. It's because of the security that they're trading on their exchange that brought about the lawsuit they're facing now.

The lawsuit mightn't have more impact on the price of Bitcoin as it's already recovering, altcoins are the ones that'll surfer the most because the last time I checked the market, alts are already losing percentage in huge figures and this might continue in the coming days.

Well, the bull run can obviously be delayed or postponed if there is too much FUD and panic selling in the market, we all know how bad panic selling can be for the market, and when there is such bad news and allegations and cases going on the biggest cryptocurrency exchange of the world, there will surely be consequences of that. Whether we like it or not, it will affect the market very badly if things don't settle down soon.

It might be a loss for US citizens in the long run since all the exchanges and services related to cryptocurrencies will withdraw from the country and they will be left with no options for involvement with cryptocurrencies which is evidently the future, but for now, it will be bad for the market.

Today we are seeing a rise in both Bitcoin and Ethereum's market dominance with the current shitcoin sell-off, which is a healthy change imo.

Bare in mind some of the most popular shitcoins are currently down -25% while BTC/ETH are down around -3-5%, which isn't very significant given recent price action. Overall a lot of shitcoins have looked bearish for a long-time now, so this is merely the catalyst to fall lower as was always expected as the most likely outcome, whereas Bitcoin still looks relatively bullish with support below.

Eventually once Bitcoin reaches between $23K and $25K I think it will reverse back to the upside, confirming previous resistance as new support. Meanwhile, with the SEC continuing to go after altcoins, they will likely fall lower. It's long overdue that Bitcoin's market dominance rises back to the upside, so again this looks like a realistic catalyst for that to now occur.

There are indeed causes for the problems being faced by the two major exchanges at the moment, but judging from the level of selling pressure that is currently in the market, of course altcoins will always be affected by the dumping of Bitcoin which may have something to do with withdrawing a number of assets from the rich and also selling in large quantities by big investors so altcoins also seem to suffer because they very often follow the market cycles of Bitcoin movements.

The impact was indeed very extraordinary because indeed many withdrew from the two exchanges,
whether selling their assets in the form of stable coins or withdrawing their assets in the form of crypto assets,
but from the altcoin and Bitcoin dumps it was clear that selling pressure on exchanges was very high than usual .

Yeah, It’s very hard to ignore those bad news since people will definitely secure their funds rather than stay loyal on holding. I’m surprised how Binance still holding until but I believe their investors is just waiting for each other to make a move first and the price action will be more massive than their current condition once whale started to withdraw their funds out of the exchange or any Binance tokens.

This is good news for long term investors because we can accumulate more on low price before halving but the effect will might be long term if this issue turns out US banning altcoins.

Any bad news does hamper the price of the coin. We have already see what serious damage FTX has done when all the coins were hacked from the exchange. So yes negative news from popular crypto bands to affect the price. If there is severe action taken be the federal bureau, then there is chances that Bitcoins will fall more. So yes we have to be prepared mentally for each and everything. Moreover as the price is down, without wasting anytime we should accumulate as many Bitcoins as we can in this low price. Work smart and use this low price opportunity.

It all depends on the outcome of this battle, if the SEC wins with Binance and Coinbase, the rest of the exchanges will be their next victims, and even the entire crypto industry will fall victim to the SEC. So far, the SEC hasn't taken any action on bitcoin as they don't know where to start since bitcoin is decentralized. But I think once they crack down on the top exchanges, followed by the crypto industry, bitcoin will definitely suffer.
Many people do not care and do not support this case, but we need to note one thing. Binance and Coinbase or other exchanges are holding a sizable amount of bitcoin, though not all. So there will be big impacts if the SEC wins.

To be honest, logically, any threat towards bitcoin/crypto exchanges should increase the demand and price. The first thing, someone should do in case of this kind of threat, is to convert your money in crypto and withdraw it but as it seems, people convert crypto into fiat and withdraw that, I don't understand the logic behind that.
Yesterday crypto.com suspended US institutional exchange service. The more adopted cryptocurrencies become, the bigger problems arise. If we continue so problematically, I don't think we will see bull run after next halving.

I think it is not that they are after the crypto market as a whole, but they are after the whole "hey I am a great dude, pay me millions and I will build you a great token that will make you rich!!!" system we have in the crypto world these days. Lets be honest we have that right now, we pay strangers to build tokens that would get us rich, that's literally all we do, and that's not what is legal.

SEC has nothing against bitcoin for example, why would it? It's not a security, it's not owned by anyone, it's not built by someone that profited from it neither. But, do we really need to pay millions and millions to creators of the new ones? I fully respect and understand the logic behind attacking those ones, it makes sense, that's a very big risk.

That's how dumb people are when they associate others even if they aren't involve. That was the case here, SEC suing Binance and Coinbase should not really matter to Bitcoin's price at all tbh, but this fear keeps them and right now it even dump causing other alts to tank too. The thing with Binance and Coinbase is that they'll not pass this because they will stand with it. US having some crackdown yet in the EU they pass the MiCA bill and Asia is getting pro again specifically China, looks like SEC wants to hurt the US economy more from what it is now.

Even if they are targeting the part of the exchange that is operating in the US, it will actually affect the market somehow if things go against Binance because that will create FUD among retail investors and there will also be a lot of sell-offs, people will also sell all their BNBs and BUSDs that they've been having or holding because they will start thinking that things can also go wrong with the global version any time.

Trust is a very sensitive thing and once it's shattered, it takes a lot of time for it to be built back and sometimes it doesn't even be built back at all. So if people start losing trust on the exchange, that will somehow affect the market, maybe not to a large extent.

It is evident that SEC is after the cryptocurrency market, they are targeting tokens that raised money and now they are targeting Tier 1 cryptocurrency exchanges like Binance and Coinbase because if they are able to drag them to court and defeat them then it would be easier for them to go after smaller business entities that are handling cryptocurrencies.

Even if there is a correction, it will be momentary. The government has to pass a new bill for cryptocurrencies.

The securities have less infrastructure than the commodities and limted themseves to staking, derivate trading and such. 

Why bitcoin though? SEC is saying some altcoins are securities. Bitcoin didn't have a token offering and i don't think anyone sees it as a security. However many "staking" options for bitcoin can have a negative effect against the exchanges.

If anything, this will cause some people move from altcoins back to fiat or to btc. In fact i would be surprised if more and more people wouldn't buy bitcoin after this.

Even if the SEC sues Binance and Binance loses, there is nothing to fear in the long run. After all, Binance, Coinbase, or any exchange is just a project in the crypto industry. They do not represent bitcoin or the crypto industry as a whole, so if they fail will affect us but won't cause us to completely collapse like them. Moreover, instead of being scared, it can be seen that this news has caused bitcoin to drop in price, and that is what many people want, as they can buy it at a low price.

For Bitcoin, it's always a good investment strategy, and often a winning one, to start buying and HODLing Bitcoin when it is said that "Bitcoin is dead". It's a mere observation that I'm sure many of you have been told or have noticed yourselves.

2015 to 2016 and 2018 to 2019 are years widely known as "dead years" for Bitcoin. Currently it's 2022 to 2023?

Yeah, as if nothing has reported or there is no such cases against Binance.

I think the effects might be obviously on their US customers and not the entire crypto market and that's why the price is not that affected in the long run. And the lawsuit was not on bitcoin per se, but more on those crypto projects that SEC deem as securities that has been offered by the platform. And this could be the reasons why investors is not being swayed from investing on BTC as of now.

I think that question should be asked to SEC and not that user. I think it might be true, as in they have probably withdrawn money from the vaults of binance and used that for investing into other things. After all where else CZ could find money they could spend? It is not going to be that simple and we all know that they are going to end up with using binance money and that is alright because that's his money as well, who could tell him not to do that, it is his money and he can do whatever he wants.

Right now, if this is actually the case of course, they are going to see if he used our funds for it, or if he took out his own personal profits of the company from it. That's a very serious discussion considering their audit situation, if they can audit well, then it should be fine.

Originally when this news came out they started a huge sell off but it seems to have settled down and it had a nice pump right after. You need to understand that Bitcoin is global and this is just 1 exchange in 1 country. Other countries aren’t going after binance. So crypto will be fine.

However I think that Binance US won’t continue anymore with all this negative press. The exchange wasn’t that large to begin with anyways. Most people never used it. So everything will be fine after this.

For the record, it's not that bitcoiners are going to be affected, if you will have to read the lawsuit it doesn't mentioned bitcoin. It's just a bunch of altcoins that is treated by SEC as securities and Binance.US is offering it to their US customers.

So that is FUD that you have read, it's not a direct attack to bitcoin per se. And that is what CZ wanted to point out about this latest attack on them. And perhaps bitcoiners knows this as we didn't have a big downside when this news come out.

LOL!

What bounty hunters you do say? Its totally irrelevant on what you had said because if we do speak about those people who do bounties and the money they do earn then its not something that big
or would really be that significant on creating such liquidity. We know on Binance to be the most popular and famous crypto platform on which it would be normal that there are lots of whales are really
that trading up their coins which it isnt really just limited to Bitcoin but also in other altcoins as well. Trying to look those numbers in terms of 24 hr trading period volume then you could say that
they are indeed the top exchange as of this moment.

On the time that there would really be some issues been raised or on which Binance is involved with then for sure it would really be making out that such effect. Although it cant really last
up for a lifetime but only would really be temporal. If the updates of such issues would becomes even more worst then we do know on what comes next
into it.

Does SEC have rights to seize funds of cryptocurrency exchanges?

I don't know about that and if possible, they only can seize funds of Binance US.

Do you have any report or link to that wallet or transaction hashes to back the accusation that CZ and Binance inappropriately used user funds?

Cryptocurrency transactions are transparent and can be checked with public ledgers, except privacy coins like Monero. CZ and Binance don't use Monero to move most of their funds from hot to cold wallets, from exchange to personal wallets, it's what I believed.

But this information makes me curious and if you have more information to prove that CZ, Binance lied us and SEC are right, I am ready to discover it.

It has made a damage and that's the bad news but we also have some good news and that's how BTC is standing firm with all of these damages. While it's coming from stable $27k and see it down to $25k but now it's staying at $26k lines.

Yes and that's through compliance of what they're asking for. It seems that it's just the trouble where they're throwing to these exchanges related to securities offers and if they'll correctly offer that and ammend that mistake, they will avoid SEC's hot eye.

If the government successful launched their attack on the exchange it may not really affect the market price because most of the bitcoiners are using a decentralized non custodial wallet as for the those that really knows what they are doing, i want to believe that the higher number of altcoins users are more on exchanges than the bitcoin users which means those that will suffer this huge lost are the bounty hunters having their asset on centralized exchange like Binance, but Binance could also evade this through it influence and and political relationship he had with some of the government officials and comply to some of their terms to reach a concession.

Seems this is ongoing and every few hours there is something new. First they sued them, then next day it was Coinbase, now they are freezing their assets, then Binance lawyers said they want the case dropped since Gary was actually wanting to work for Binance in the past and now they are saying they traded with customers funds.

They are claiming that customer funds were sent to Merit Point which was owned by CZ and they were used as investments for certain assets. Basically what Ftx did pretty much. No idea what to believe is true anymore.

Now I wonder what will CZ do to save his precious company.
Right now, all of the top coins in terms of market cap made a bounce after that downward pressure caused by the news, EXCEPT on BNB. It went down even more, and now down 14% base on Coingecko.

Well, whatever the fate of Binance will be, I guess it's effect towards the crypto market will be just temporary only. The worst thing is if Binance will shut down because of this. I just hope it will not happen, but if it will, brace for impact, because it will greatly affect the whole crypto market. Overall, I think that CZ will overcome this one thru just stopping Binance.US.

SEC did lawsuits against two big exchanges, Binance and Coinbase. Binance is not welcome in the US. because their CEO is not welcome. I am not racist but Binance CEO smelt something wrong and risky years ago and wisely split Binance global and Binance US. a few months after the trade war between two big countries, US. and China.

Binance can fail against SEC. because of many reasons but how about Coinbase. They are a company in the US. at their beginning and it's shame of US. if SEC are free to attack any cryptocurrency exchange they want and don't base on any valid laws.

They sued Coinbase because of altcoins but see what guidelines did they have to guide Coinbase and other cryptocurrency exchanges. Nothing and SEC just sued companies they think are weak enough to be beaten easily.

I just read that the SEC is now looking to freeze Binance’s assets. That’s going to hurt them no doubt. It seems as though there won’t be much of a trial to determine Binance’s fate. With the SEC looking to punish the company, things like freezing assets and restricting access to banks could be enough to hurt the exchange or at the very least cause a run that will give it a proper stress test.

The SEC attack on Binance has no doubt caused the fall of Bitcoin in the market in terms of bitcoin price. If I were the only owner of a crypto exchange in America or the U.S, I would not hesitate to leave that country. They are actually doing that because Binance is a big crypto exchange and because it is big and they can earn a lot of money or generate money.

Since the U.S. country is already deep in debt. Think how many years Binance has been in the crypto space and now they are making a Fud against it, how many times has that happened? but Binance remained standing. But I don't know if Binance can overcome that.

Possible, the effects might be just temporary though, and yes, after the news hit the public, it went to $25k'ish, and now it's back to $27,120. So we might conclude that there are no effect whatsoever. Nevertheless, there could be some part of manipulation by the whales here. As if they are giving hope that the news will not have a effect. But then again, maybe after hitting $28k there could be speculators that are going to short BTC.

But if we look at the long picture, at least six months down the line, we might forget about this issues. Maybe Binance can get over the hype, answers everything or move out their Binance.US for good, just like what Coinbase did.

For those oldies or veterans of this market, then for sure these kind of events and news are something that a way for those fellas trying out to dip out the price for them to get in. They would be targeting out those known platforms on which making up some issues and other things as long they could thrown at them as long it would really be making out some significant negative impact on the market.

I dont know on why lots had been talking recently about that 25k price dip? Is this really just that too big for them to freak out like that??
Few percent drops is just like an ordinary day here on crypto space and it isnt something a moment or situation for us to whine like babies. Fundamentals and news alike this about SEC or
other government institutions or something isnt really that tired on throwing issues and other stirring up the situation of this market via touching up those services and platforms.
Later on, it would really be just simply forgotten and simply move on.

The SEC is also going after Coinbase, which is strange to me because Coinbase is a publicly traded company that was reviewed before it was able to be listed. I actually am beginning to think these attacks, specifically the one on Coinbase, will ultimately prove to be a good thing for Bitcoin once they win and get more regulatory clarity.

When US can attack a their citizen that uses exchange that they suspend in their country, is when the person who is using the exchange to trade is been caught for illegal things, do you know that one of the reasons while some of the exchanges is having issues with some countries, its because of money laundering activity, some people are using exchanges for money laundering especially those mixers and unpronounceable exchange that doesn't have operational license.

The SEC's lawsuit against Binance is considered FUD by most traders and so has been aggressively influencing the crypto market. Bitcoin has not escaped the impact of that FUD - it only reaches weak hands while strong hands will last longer due to experience.

Despite the brief impact that occurred over the last day - I'm starting to get my portfolio back moving forward as bitcoin price begins to recover. Yes - it was something I was hoping for after the panic that resulted in small dump the day before. I'm optimistic - of course because the SEC's lawsuits are not primarily for bitcoin but rather for Binance.

I think it's time for investors to finally shift away from the more risky and speculative altcoins to those considered safe havens, namely Bitcoin but also likely Ethereum, given they both haven't been labelled securities. I would also add Dogecoin to this short-list, but it still seems considerably overvalued, and there is also lawsuits pending against those who promoted and profited from it which is never a good look.

The other reality is this isn't a situation that will be resolved very quickly. XRP lawsuit has been going on for a long-time, and I imagine that the Binance and Coinbase lawsuits will go on for a long-time as well, maybe a year or two. So if I had to guess then we could see a shift over the next 12-24 months of investors shifting to safer assets, namely Bitcoin, until the SEC lawsuits are resolved one way or another, as there is too much uncertainty right now. Personally I've been waiting for Bitcoin to reclaim a lot of market dominance for the past year, which hasn't happened, but this seems like the long-term catalyst for that now.

in the end Binance is a company that inevitably has to comply with the SEC and regulations that are very discriminatory in the US. Binance can't do anything, apart from defending what they can defend, even if it's useless in front of the SEC, at least they can survive this storm.

not only Binance, but even other exchanges will not be able to escape the clutches of the SEC, as long as they want money from American customers. they will continue to be shadowed by the binding rules of the SEC and they must obey whatever they want, even if it makes no sense at all. if they don't like it, they can leave the US, that's their only option.

There is a simple solution to this, coinbase and Binance should go offline and leave the business, after some time they should go Dex full time, and they should be no information about the owners or developers available at all, the reason why the SEC or government can't kill Bitcoin is because there is no one to arrest or file a lawsuit against.

Centralized exchanges need to stop for once and for all, these SEC will be powerless and all decisions making will be left for people only. If killing the business is going to be a problem, they should get out of the United States and find a better place to run the business.

Buckle up guys, this will affect Bitcoin value, and believe me, it's going to be a good opportunity if you know how to take advantage of the situation, sit tight, and don't give up.

Of course it will!

Lets not forget that this is the number one exchange we have and any negative press generated from it does affect other exchanges and activity on the market drops as everyone wants to see the next step from both parties...and if trading on these platforms is safe, especially when it comes to their coins being held on the exchange.

Very much possible, but with Binance they kind of geofenced the US market on one US domain of theirs to protect their business in other parts of the world..

But if you think about it, the reason most exchanges want to service the US market it's because of numbers! And these numbers translate into easy business and easy profit...but unfortunately the US market has always played hardball, I wonder if this lawsuit is meant to keep Binance away and let coinbase flourish on its own

I don't understand how the SEC works, but some SEC actions always disappoint me. This season they have broken my hopes to see BTC go all the way up. They are like taking advantage of loopholes to get a lot of money for people in their organization. Not only today some cases of large exchanges dimming seem to also be the result of the SEC, if not wrong Poloniex, Bittrex. Many people are panicking for this matter. But all this has not been tested to be true or not. If CZ and Binance can stand by and provide concrete evidence of the falsehood of the allegations, I think Binance will be even stronger.

Binance is taken much too seriously.
Bitcoin and most other decetral currencies survive that.

The problem is that people don't use crypto as a medium to pass around but like trading. Making money without moving more than a finger? Trading is a loss-loss situation. A loss for most involved, a loss for the cryptocurrency. 

back in the days of the NY bitlicence. many businesses done all they could to stop operating in NY and stop servicing NY citizens(banning access of users whos IP geo location showed as NY).. however the NY authorities set up honeypot traps of them themselves(ny authorities residing in ny) registering with non NY licenced exchanges using proxies to by pass the IP bans.. registering as customer and then making a complaint that they were able to register with the exchange.. this was back in the days where KYC was not really a thing so the exchanges did not really know who their customers were. but suddenly became required to KYC their customers to then ban those revealing they were NY residents

things like this also happened to seller on localbitcoins. if they were found selling coin to NY residents they got slammed too with not being licenced to serve NY residents

The SEC lawsuit against Binance, really affects the overall price including Bitcoin, including one of all that is affected by the dissemination of binance, and to be honest, this does affect as a weak person in holding their bitcoin, who becomes Bitcoin has a price decline.
I am very afraid if the SEC really wins on this case, because of course SEC will provide severe sanctions to the binance and including a large enough fine, if the binance authorities in handling this case, the most fearful thing is bankruptcy.

Although the minimal potential of binance is bankrupt, it is still a concern, because if there is a bankruptcy there might be a greater storm to Bitcoin because Binance is the biggest Cryto exchange and number 1 at this time in the world, I cannot imagine if that happens.
Its influence on the market is definitely reducing investor trust in crypto and fear that is filled with speculation is getting worse.

I just want to say that bitcoin is the most traded coin on Binance. I checked spot trading for bitcoin, ether and Binance coin on Binance, Binance coin is not near the trading volume of ether, while bitcoin trading volume is higher than ether which I think is the second most traded coin on Binance.

Let me use yesterday trading volume as examples:

Using bitcoin price of $26770
Ether price of $1818

Spot market:
BTC/USDT: 65805 = $1.76 billion
ETH/USDT: 555361 = $1 billion

USDT-M futures:
BTCUSDT: 700502 = $18.75 billion
ETHUSDT: 4260000 = $7.74 billion

Coin-M:
BTCUSD: 111834 = $2.99 billion
ETHUSD: 714927 = $1.3 billion

Binance coin is very low. Also other coins are lower to both bitcoin and ether, but ether is still almost 2 times or more than 2 times lower in trading volume than bitcoin on Binance. Binance is truly an altcoin exchange as it encourages many altcoins, but bitcoin is the most traded coin on the exchange.

What is affecting the crypto market is also affecting bitcoin too, but just that altcoins are more volatile and riskier.

You have asked very simple questions. And SEC does not sue all those platforms which look fishy or they (SEC) do not sue those on them they are skeptical. Because by reading their allegations, we can find out why they are against Binance, and yesternight, i have covered the same topic of reasons behind this sue against Binance USA.

Here is the article--> My Topic

Secondly, i do not think that SEC can further do any harm to Binance because if something happens then it is only limited to the USA boundary and only the US citizens will be affected and they (investors and traders) will find another way to perform transactional activities. Like maybe from Coinbase etc. The point is, BTC price can not be affected more by Binance (in my opinion).

Yeah, every exchange if cooperate with SEC then why SEC will sue them (like if there is anything on them or if they are in cooperation).

At the end of the day Binance is primarily an altcoin exchange and whatever happens to it should affect the altcoin market significantly not bitcoin's. But realistically speaking the FUD always finds its way to the bitcoin market and affects the weak hands hence causing the drops like we've seen too many times in the past.
Besides, what SEC does to Binance is not the issue here, what the FUD is going to be and how it will affect the market is the only thing that matters.

Well, the SEC is like a strict schoolteacher, always keeping an eye on the naughty kids in the class. Binance just got a taste of the proverbial ruler. The whole event sent Bitcoin price sliding down the hill faster than a kid on a waterslide.

Crypto enthusiasts have been crying "Moon!" all along, but all we've seen so far are storm clouds gathering. I'd say the SEC's assault on Binance could continue to put a damper on the crypto picnic.

As for escaping the SEC's grasp, it's like trying to avoid rain in Seattle. If you're playing in Uncle Sam's backyard, you gotta abide by his rules. Crypto exchanges can try to dodge the raindrops, but without a sturdy regulatory umbrella, they're bound to get wet.

You must write the exchange name correct first. Binance, not Bianance.
Bianance might not exist now but it can exist in future and can belong to a phishing exchange that tries to do phishing attacks on Binance users.

They will because the SEC Chair Gensler failed to protect his standpoints in the Congress months ago. He will no longer to do everything he wants if the Congress is no longer in control of the Democrats.

I believe that the US. government don't want to see many cryptocurrency companies to shift their companies, offices to other nations like China mainland because of SEC.

Gensler denied to answer that in his position, in SEC available regulations, is Ethereum a security or not? He failed to answer it but he uses his power to attack many other altcoin projects. Gensler will fail, not those projects, not the cryptocurrency industry in the US.

Watch two videos
Chairman Patrick McHenry blasts SECGov Chair Gensler's disastrous rulemaking agenda and short comment periods that carve the American public out of the rulemaking process.

Watch Chairman McHenry grill Gensler on his contradictory views on digital assets

Yes, avoid US customers by all means from your exchange. If you don't want them to attack you, you either don't have their citizens allowed to use your service at all or you register your services under their regulation and let them be in control. but it might not guarantee you're totally free because the SEC doesn't need an excuse to attack anyone who is on their target list; they can just wake up and make one.

Securities and Exchange Commission, popularly known as SEC, recently filled a lawsuit against Binance for violating federal securities laws. This made Bitcoin price declined by almost 5%, one hour after the allegation was filled as at june 5th.

As at this morning, while checking Bitcoin chart, it is currently $25.7K. The funniest part is that lots of Crypto and Non-Crypto experts had all made predictions of a pump in price.

SEC can't just stopping firing at all exchange companies they suspect fishy activities. Don't forget that Coinbase and Coinme are also victims, and there court case is still active.

Do you think SEC's lawsuit case will create more damage to the BTC price ?

Is it possible for all crypto exchange companies in the US to avoid SEC's trouble ?.




You can check further stories via New York Times -https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html