I think this is a SEC tactic to make people afraid to invest in crypto, besides that it's not only Binance who is having problems with SEC, but Matic, ADA and SOL too, so that makes the market go down quickly (bear market) and what do we expect is only CZ can win against SEC or people are not affected by SEC, so the market price can rise again or even a bullrun occurs (if CZ wins against SEC).
We don't know what the real purpose of SEC to accuse some big projects in crypto industry. After they got Ripple in a trouble, they alleged Binance for 2 main issues (mishandling money & dishonest with regulators). SEC think they are a regulator in crypto industry, they don't know that crypto is a decentralized system.
What are the problems with ADA, MATIC, and SOL?
If the problem is only about the significant drop in their prices, it is because most altcoins follow Bitcoin price. We must know that BTC is dropping its price to $25k again, it triggers most altcoins to drop again with significant changes. Moreover, we have bad news related to SEC vs Binance now.