SEC lawsuit caused massive market crash

[o48o]

I checked the Bitcoin price and did not find a decrease. What is happening is a natural price movement, perhaps due to panic or panic, but the price is in its normal place.
The value of BNB decreased by more than 22%, which is a large percentage, but its price is in the hands of binance, they can burn a lot of it and the price will return again. the reaction of binance and the subsequent steps that it will take are what will determine the future of this currency.
I advise you to stay away from it for the time being and see how the company will act.

Burning it more often then originally scheduled would be another nail for the Binance as that would be market manipulation and even more ammo to SEC. And if i even i know this you can bet that binance advisors would be against that move. If you think that price won't recover without price manipulation, you should definitely sell or short because Binance will be very careful about their next steps as they are preparing for the court. I am just glad that it's one of the few players that has budget to fight.

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[davide72]

If binance lose in this case then we gonna see another crash in this year. Binance is the biggest market in the cryptocurrency so if they fall, then it gonna make all of the big coins especially BSC coin drop too. In this case binance isn't alone, i guess most of the crypto investor stay on the side of binance.

Binance has nothing to dowith Bitcoin and Altcoins, if Binance has done something illegal it is right that it pays. Then I think that if the btc will make a good crash I think it is a good opportunity for many to buy BTC at a lower price.

[poodle63]

If binance lose in this case then we gonna see another crash in this year. Binance is the biggest market in the cryptocurrency so if they fall, then it gonna make all of the big coins especially BSC coin drop too. In this case binance isn't alone, i guess most of the crypto investor stay on the side of binance.

Binance has nothing to dowith Bitcoin and Altcoins, if Binance has done something illegal it is right that it pays. Then I think that if the btc will make a good crash I think it is a good opportunity for many to buy BTC at a lower price.

SEC has different perspective about that. That's why binance already sued by SEC. i think that you can try to see the fact that again if binance is now in a difficult situation after it has been sued by SEC.

Binance us has been halting its service. that means US will not able to buy crypto.

[Ziskinberg]

....
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?

We could understand the worrying sentiment of the holders making it selling off of their BNB and until such an issue isn't resolved yet, free fall will continue and the worse when the exchanges themselves announce shutdown.

And there is no other solution to this aside from Binance will secure all the necessary things needed by the SEC in order to prove that they don't involve any criminal activities or fraud. I know SEC is targetting big exchanges like Binance and they are very aggressive with that. But something we need to know is that money is more powerful than anything in this world today as when it talks, it will be done.

[killerfrost]

Looking at what is happening in the market I can understand the mood of crypto investors who are losing and panicking, this is an undesirable thing to happen in this market but it has been happening. However, if you really look closely at the problem, perhaps realizing that this is also part of the market and unavoidable, nothing goes up forever and nothing goes down forever. In the long term, my trust with btc as well as crypto has not changed, continue to accompany and monitor everything, I also have some plans to buy and hold btc as well as some altcoins.

[karabiber]

Looking at what is happening in the market I can understand the mood of crypto investors who are losing and panicking, this is an undesirable thing to happen in this market but it has been happening. However, if you really look closely at the problem, perhaps realizing that this is also part of the market and unavoidable, nothing goes up forever and nothing goes down forever. In the long term, my trust with btc as well as crypto has not changed, continue to accompany and monitor everything, I also have some plans to buy and hold btc as well as some altcoins.

These events should not be a part of the market. Although the crypto markets were independent the eyes of the world economy were always on this market. That’s why the movements and steps taken must be very careful. Among the SEC's 13 complaints are CZ's control of the operations of Binance US, which should be independent, merging the company's client and corporate funds and artificially inflating trading volumes. According to the SEC's complaint, Binance transferred customer funds to institutional accounts managed by Binance CEO Changpeng Zhao.

The claim is seen as one of the most important among 13 complaints filed by the SEC and the U.S. Commodity Futures Trading Commission (CFTC). Binance US is under serious accusations that cannot be taken lightly. Let's see if CZ can pull through this time. One of CZ's key weapons, BNB is in free fall at the time. I think that all these developments will not affect Btc and Eth much. The situation is more critical for BNB and altcoins and I think the bull will come if CZ can defend himself from the charges and come clean.

[blockman]

Looking at what is happening in the market I can understand the mood of crypto investors who are losing and panicking, this is an undesirable thing to happen in this market but it has been happening.

Most of the ones that are losing and panicking are new in the market. They haven't experienced this before and that's why they're feeling like that. Although they don't see this coming, it's such a nice experience for them to have it firsthand before the actual bull run comes.

However, if you really look closely at the problem, perhaps realizing that this is also part of the market and unavoidable, nothing goes up forever and nothing goes down forever. In the long term, my trust with btc as well as crypto has not changed, continue to accompany and monitor everything, I also have some plans to buy and hold btc as well as some altcoins.

We better take it like that, everything that happens now is part of the market and we can't stop it from happening. So, we need to adopt and we should plan our ways of dealing it. While the market is dropping down, we can buy as much as the market's concern if it's still not up.

[Xal0lex]

I don't consider BNB to be in a free fall. Last year it went down to $200 and found good support there. If you look at the chart, you will see that this is a serious support level and it has been tested many times since early 2021. Consequently, if the price does not fall below $200, then there is no serious reason to worry and it is just a prolonged correction. If the price drops below $200, it will mean a free fall down to levels no one knows about. You are too early to panic, nothing bad has happened yet.

Technically yes, it's not yet on the free fall, and just like Bitcoin, it has it's fair share of the price declining regardless if there was a case against Binance. Remember that we are still in the bear market so technically prices should be down at least.

And we can see that majority of the altcoins are around 80%-90% down, which is about the numbers in a bear market. I guess the question is that if this happens if the bull run, will Binance and BNB and other altcoins mentioned in the lawsuit will have a downfall or not?

If bitcoin does not renew its bottom, then BNB will also keep its support at the $200 level. I agree that we are still in a bear market, but it is unclear which part of it. I'm more inclined to say the final part. And unless there is some major economic upheaval or a major scam of some famous crypto project, we will probably keep these current low values, which were formed last year.

[yazher]

After Binance carefully followed its rules and regulations, the SEC ended up still ruining Binance's market because it cannot fully control the crypto market. If Binance cannot be free from this kind of pressure from those Greedy Sec, I think other small exchanges need to consider cleaning everything inside because once the SEC will know they have some anomaly inside they will not get out with it and they might gonna ruined their reputations and will completely close their service due the SEC's lawsuits.

[Apocollapse]

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?

Any centralized exchange would collapse and get replaced with the new one, similar like FTX and FTX token price is become worthless now. Well maybe CZ will find the solution, but maybe not, after all holding BNB or centralized coin for long term have a very high risk.

Government could win the war against cryptocurrencies and they can ban all cryptocurrencies, but as we know we can still trade a decentralized coin via P2P or decentralized exchange.

[NotATether]

SEC may be able to chase down exchanges but they can't do anything against crypto (except for obvious rugpulls that we're never meant to be crypto but a straight cash grab). 

[krava22]

If we concider regulations as 'winning' goverment will get it sooner or later

[gaston castano]

are they doing this on purpose to make the market go down, if indeed binance is down. this will have a huge impact on the crypto market as binance is the biggest crypto exchange right now.

[Ultegra134]

$190 I think could be its last bottom price. This crash is yet not over because the market may just keep dragging the price down below that support level. But once its going up, it may also break that $300 resistance as well.

I think we are already seeing the last string that SEC is trying to pull from crypto market. They are going all in beyond this, there is nothing more Gensler can do. Only Binance.us is where he could affect.

$190 isn't too bad if the fall stops there, will it however? So far, its progress look promising, the bottom stopped at approximately $225 and is already making a minor recovery, by reaching $242 already. Outstanding if you ask me, I wasn't expecting any kind of recovery anytime soon.

If this case turns out to be positive, we cannot even predict the price increase of the mentioned coins. We should also consider the negative side and take precautions on our own. Everyone has more or less invested in these coins. I don't think there is a major collapse at this level. Drops in these rates happen all the time in crypto. Bitcoin did not have a negative impact on this case. Still standing firm. It will return strong on BNB. If Binance has done something wrong, it should do the right thing and go back to its old days.

We are at a very early stage right now. The decline in crypto as a result of different news it could be. The real issue here is whether we are going to buy in this decline and lower the average or do we sell some.

How can it turn positive though? Someone will ultimately need to withdraw, and the SEC doesn't look like it's going to back down that easy. It's still at a very early stage to speculate, but things aren't going to turn out okay if there's no solution found.

If bitcoin does not renew its bottom, then BNB will also keep its support at the $200 level. I agree that we are still in a bear market, but it is unclear which part of it. I'm more inclined to say the final part. And unless there is some major economic upheaval or a major scam of some famous crypto project, we will probably keep these current low values, which were formed last year.

That's not going to happen, Bitcoin isn't that affected by the whole incident, it's doubtful that we'll see a new bottom for Bitcoin. Thus, there's still a decent chance to see a stop in this bloodbath, it's already looking quite positive, but let's not speculate just yet, it's too early to make accurate assumptions.

[zonefloor]

Frankly, these lawsuits filed by the SEC did not add too badly to the market. At least there were no serious declines. Except for cryptocurrencies. But if the sanctions continue to increase in the future, then serious decreases will occur. It is useful to follow the market during this period, and these sharp declines can be an exit point for you and it may be inevitable that new millionaires will emerge.

It is a little strange that the SEC did not wait for the final court decision on his lawsuit against Ripple Labs. It is this decision that will significantly affect the fate of all other similar SEC lawsuits. Does the SEC hope that it will win this lawsuit? Otherwise, filing other almost similar lawsuits about the use of other cryptocurrencies is pointless. The bad thing is that the US government and legislators do not yet have a clear position on this issue and the SEC is on the path of developing judicial practice. But this is a very long way and therefore this situation will negatively affect the general state of the cryptocurrency market.

In the current market conditions, ripple is standing tall. Despite the lawsuits. If ripple wins the case and somehow manages to justify himself, I think he will do at least x10 in the next bull run. I think he will win the case. I have no idea what the SEC is trying to do right now, but I think you are following litigation policies due to government pressure and the principle of confidentiality is being tried to be removed.

[Bolivar_Tony]

The SEC lawsuit against Binance has caused a major market crash, especially hitting BNB hard. It's worrying, and the future of BNB looks uncertain unless a solution is found. It remains to be seen if governments will have the upper hand in the crypto world.

[Ojima-ojo]

The SEC lawsuit against Binance has caused a major market crash, especially hitting BNB hard. It's worrying, and the future of BNB looks uncertain unless a solution is found. It remains to be seen if governments will have the upper hand in the crypto world.

The short term negative impact of the law suit against binance on BNB is greatly felt and those that are holding bnb are at lose right now but that will mostly affect those that are in for short-term position in the coin and have the liquidation price close this will end their positions at a loss.


But for those that are holding BNB for long-term asset holding, there have nothing to worry about as we are sure that BNB will recover in its price anytime soon when the wave of this crisis dies down and the exchange recovers from that, BNB is a utility coin and Binance is it biggest liquidity provider since BNB is used to pay fees on the instance smart chain.

[cryptoaddictchie]

I’m wondering if Binance will leave the US market, are they can still work well?
US SEC are the only problem to cryptomarket while the other countries are not doing any pressure against the top exchanges. Binance will survive on this, though its better to wait for the real bottom of the price since there’s a chance for Binance to go lower $200 again, its sad but this might be the next price for BNB.

Could hit a big blow though but Binance could actually survive without US. I dont think they will stop or be stopped at this point. Its those guys from the US cant live without Binance I suppose (crypto maxi). They will need to do more on dexes if in any event most crypto exchange leave the US territory. If thats what they want then so be it. But I doubt there are hindrances on that. This Gary Gensler will have a lot of oppressors for sure.

[lalabotax]

Yes, this does always happen. Not just this time, but several times the SEC has had a very high influence on the crypto market. What's more, this time the target is Binance and Coinbase, both of which are big exchanges. So that many parties feel worried and there are also several parties who take advantage of this moment to spread FUD even more, so that they can get crypto prices even cheaper. This happens frequently and will not stop, it looks like the SEC is looking for new targets again. What is their true purpose?

[CapGelatik]

The SEC is indeed now an enemy of crypto currency projects, XRP, Solana, Binance, and Coinbase are now fighting for their justice,
who knows what will happen in the future, but from this case we know that the impact on the crypto market is very large and even causes altcoins to fail to bullish,
Let's hope that good news from China comes again and makes the SEC understand that cryptocurrencies are not a threat.