https://www.cnbc.com/2023/06/06/sec-asks-for-emergency-order-to-freeze-binance-us-assets-anywhere-in-the-world.html
There is a shocking development where SEC asked to freeze Binance assets. However, the immediate effect of this news was not negative. Bitcoin prices and other coins also moved up even after this news. It shows the trust people have on bitcoin. Those who were investing casually are already out of the scene. The current holders have got strong hands and it means that prices for good crypto coins will only move up from here.
And in a response to these news Binance.US has also come with news about delisting about 40 crypto trading pairs from their exchange, I wonder if deleting all these Cryptos trading pairs is going to solve the law suit case or help them to win the case at court.There is a shocking development where SEC asked to freeze Binance assets. However, the immediate effect of this news was not negative. Bitcoin prices and other coins also moved up even after this news. It shows the trust people have on bitcoin. Those who were investing casually are already out of the scene. The current holders have got strong hands and it means that prices for good crypto coins will only move up from here.
If at the end Court grants SEC their request and eventually they freezes Binance.US asset ,it may cause another catastrophic event on the crypto space.
Taking the action after ban is not equal to following the rules from start. It is like admitting by binance that they were doing things wrong. Am I correct ?