In a surprising turn, the U.S. Securities and Exchange Commission (SEC) on May 29, 2025 formally withdrew its civil lawsuit against Binance and Binance.US “with prejudice,” meaning the case cannot be refiled. The parties filed a joint motion in federal court requesting the dismissal, calling the move appropriate “in the exercise of [the SEC’s] discretion and as a policy matter”. In response, a Binance spokesperson hailed the outcome as “a landmark moment,” thanking SEC Chair Paul Atkins and the “Trump administration” for stepping in to prevent what it called “regulation by enforcement” . Binance’s new CEO, Richard Teng, celebrated on social media. On X (formerly Twitter), Teng wrote that “the tide has turned. The SEC’s case against us is dismissed— justice, finally.” He credited Chairman Atkins and the Trump administration with resisting regulatory overreach, saying, “The U.S. is back in the arena, ready to lead the world in blockchain innovation.” Source: Richard Teng X Binance.US likewise welcomed the decision. In a statement , a Binance.US spokesperson said they were “pleased” the SEC had fully dismissed the charges, affirming it has always known the company “did not violate U.S. securities laws.” The statement added that resolving the matter is “a major m ilestone” that will allow Binance.US to refocus on growing its business and rebuilding impacted relationships. Market Reaction: BNB Price Analysis Despite the bullish headlines, BNB’s price has shown only a modest reaction. Crypto market data indicate BNB traded around $687 on May 29 (the day of the filing) and slipped to about $654.80 by May 30. That’s roughly a 3% drop on May 30 from the prior close. Trading volumes actually picked up: BNB’s 24-hour volume at roughly 24.7 million (BNB tokens) on May 30, up from about 21.7M on May 29. In other words, the news drew more activity, but the price move was muted. Key derivatives metrics were similarly calm. Data from CoinGlass shows total open interest in BNB futures is around $800–$820 million, little changed on the news. Net fund flows into and out of Binance were roughly balanced, indicating indecisive traders. Volatility remains moderate—for example, BNB’s 14-day Average True Range (ATR) is on the order of $20 (about 3% of its price), reflecting only normal daily swings. In summary, BNB’s charts show it continuing in the range it was in prior to the news. It briefly tested resistance near the mid-$670s (its recent highs) on May 29, then retreated. As of this writing, BNB sits in the mid-$600s—around where it was a week earlier—suggesting the SEC news has largely been priced in. Source: TradingView Traders will be watching whether easing regulatory pressure spurs a sustained breakout, but at least in the first trading sessions after the announcement, the market response has been fairly restrained. Comparison to Past Crypto Regulatory News This reaction echoes similar cases. Historically, major regulatory announcements have often caused short-lived shocks. For example, when the SEC first sued Binance in June 2023, BNB’s price plummeted nearly 9% in one day. In June 2023, BNB traded around $282, up 1.6% from a day earlier, after the SEC lawsuit news saw it suffer its worst daily fall. By contrast, the SEC’s withdrawal of that case (with prejudice) has only briefly paused BNB’s uptrend rather than triggering a big sell-off. Likewise, the SEC’s recent pattern under the new administration has been to step back. Earlier in 2025, it dropped a high-profile case against Coinbase (another major U.S. crypto exchange) that had accused it of offering 13 unregistered tokens. When the Coinbase enforcement action was halted in February 2025, Coinbase’s stock jumped, but its crypto market impact was modest. Industry observers note that “sell-the-news” versus “buy-the-news” reactions vary: once an overhang is removed, prices sometimes rally, but not always. In this case, analysts say the SEC’s change of course likely removes a cloud of uncertainty, but it doesn’t by itself guarantee an immediate rally in BNB. Other factors – like broader crypto sentiment, macro markets, and on-chain usage – will determine the longer-term trend.
