With what the SEC does sometimes I think the goal of the SEC is to destroy crypto,
I know it's just my wild thoughts but the investigations carried out by the SEC have had a lot of negative effects on crypto as you said,
I don't think there is any plan to destroy crypto, these are more attempts to introduce control, in the sense that governments have insight and control over the circulation of value. It is not in the interest of any government that citizens have some money that they have no insight into and cannot be taxed.
On the other side is Binance, which is certainly not the lamb in the whole story, we know from earlier about their various manipulative actions and it is really necessary that their influence be brought under control.
But whether we want to admit it or not, Binance is one of the most important crypto services and its possible disappearance will cause serious shocks, probably the biggest so far.
Therefore, Binance (and any similar service) definitely needs to be under greater control, but it is also needed in the future.