Quote from: Oasisman on Today at 04:27:00 AM

Quote from: Ultegra134 on June 10, 2023, 07:33:29 PM

The latest SEC lawsuit against Binance has caused a massive market crash, with BNB suffering the most, going as low as $233, the lowest it has ever been in 2023. Bitcoin has also suffered great losses, but it's not as bad as BNB, which hasn't stopped falling since the incident started and got progressively worse for altcoins when the SEC labeled 46 of them as securities to be avoided at all costs. Some of which include BNB, XRP, BUSD, MANA, and plenty of others. Personally, I believe that the condition is starting to become worrying, especially if Binance loses and there's no settlement, which would also have disastrous consequences for the market in general.

The most worrying of all is BNB, which is in freefall and its future might be doomed if no solution is found. What's your take on this? Do you think that a solution will be found to avoid any further losses, or are governments on their way of winning the war against cryptocurrencies?

Normal market reaction when an exchange is being sued by the SEC as people are gonna worry about lossing their asset if Binance won't be able to win the lawsuit against them.

https://www.google.com/amp/s/www.coindesk.com/policy/2023/06/13/us-judge-rebuffs-sec-request-for-binanceus-asset-freeze-for-now/%3foutputType=amp

With the judge allowing Binance to continue business as usual and rejecting the SEC request to freeze assets within the platform, more people will become skeptical and might sell their asset in order to again, avoid the possibilities of lossing their assets.
So, we might be expecting more free fall in the next coming days.

This is only a civil lawsuit, and given the financial capacity of the Binance exchange, such lawsuits can take a long time. If the prosecutor’s office initiates a criminal case, then this will be a stronger factor for altcoin prices to fall.