Today S.E.C. Accuses Binance of Mishandling Funds and Lying to Regulators. If Binance lose in this case then whole market gonna be drop drastically, I hope this doesn't get as bad as I imagine it to get.
I heard that if SEC was sending a request to the court for freezing binance US funds. I think that will be greatly affecting the market. The volume of binance US was not as big as the global binance but it's enough to give negative impact to the crypto market.
I hope that will never happen. it will be so bad for crypto.
Well, it's already affecting the market. I don't want to sound like I'm spreading FUD, but all coins have suffered, with BNB suffering the most. I haven't seen it at such a low price for a long time. On the one hand, I doubt that Binance and its coin are going to fail, but on the other hand, it's a little frustrating to see BNB's price dropping like a stone. However, I believe that the effects of the SEC suing Binance will be worse than the shutdown of the FTX exchange and may even last longer.
I had purchased some BNB for $300 a few weeks ago, and now I'm greatly suffering because I don't have any more budget left to purchase more. It looks like it could be a decent opportunity; we'll see how it turns out.