SEC lawsuit caused massive market crash

[Rampagoe004]

I'm sure Binance will find a solution to this problem soon. They weren't scammer like Terra. What I think is we just need to hold our coins. No need to panic and then do a sell attack.
A few days ago I read in the news that dApps like ImToken have made some updates to comply with SEC laws. I believe Binance will also do the same.

[Bolivar_Tony]

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.

The recent SEC lawsuit has had a significant impact on the market, causing a massive crash. It's a challenging situation, and its implications for the future of cryptocurrencies remain uncertain because we don't know who is next.

[Teraboy]

I'm sure Binance will find a solution to this problem soon. They weren't scammer like Terra. What I think is we just need to hold our coins. No need to panic and then do a sell attack.
A few days ago I read in the news that dApps like ImToken have made some updates to comply with SEC laws. I believe Binance will also do the same.

well whether it gonna gets solved not in binance hands, we should just observe the outcome of the lawsuit and already be prepared for the worst that is if all investment went downhill we should have something to mitigate that, after all no one knows the end results.

[merekamo]

Reason for this market crash is the uncertainty and fear surrounding the SEC's actions against Binance and the potential consequences for the entire crypto market. Investors are worried about the outcome of the lawsuit and the possibility of Binance losing or not reaching a settlement. This has led to panic selling, driving the prices of BNB and other affected altcoins down.

Personally, I believe that the current situation is indeed becoming worrisome. If Binance loses the lawsuit and there's no settlement, it could have disastrous consequences for the market in general. The SEC's actions may lead to stricter regulations and reduced investor confidence in the crypto market. It is essential for the industry to address these concerns and work towards establishing a more transparent and regulated environment to ensure long-term stability and growth. Now, 14th June BNB raise again.

[IvugeoEvolutionCoin]

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.

The recent SEC lawsuit has had a significant impact on the market, causing a massive crash. It's a challenging situation, and its implications for the future of cryptocurrencies remain uncertain because we don't know who is next.

Yes we have to see what the end of it is now. We have to wait to see the end. But I think the SEC case may cause some problems in the market. Cryptocurrencies have a lot of problems after a few days. But what will happen now?  Can't. Hope the SEC case is resolved very soon.

[Sebas.tian]

I don't think, binance will fail in this challenge because they have what it takes to ensure their customers will not regret with the trust they have for them than to do everything possible to make their next move be a favourable one to their investors. Those coins you mentioned, I don't think their teams will allow their coins to go down like the way some coins went down forever than to do something that will make securities exchange commission to withdraw the case against them so that there will be love and progress among them. I don't think, it is the lawsuit that is causing this bearish market, because the dumping started early last year 2022 that made the price of binance to hit $300 before it decreased to $233 this period.

[Oasisman]

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.

[justdimin]

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.

Doesn't really matter, winning this lawsuit could only open up the door for more lawsuits, there is no shortage of starting a case, and they will get the whole book thrown at them as long as they continue with the current system. They are a company that printed their own money, do you think that USA would allow a company to just create their own money, there are a ton of legal hoops to go through before you can do that, hell mcdonalds had problems with bigmac coin let alone a ripple company doing XRP, that one was just for a burger alone.

This is why I believe that we shouldn't be really expecting Ripple to come out clean from this, there is no way they can be not guilty, because what they are doing is against the law and has been for a while and one day or another they will be punished for it.

[zasad@]

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.In ticky situations, it is dangerous to store your coins on exchanges. Criminal prosecution may entail more restrictions.

[SlimShadyMmp]

I think personally Binance are prepared to take the battle with SEC Yesterday ruling was a clear sign that they are ready for them Also SEC is not willing to cool it so I think it present so sort of twisted scenario for both of them Binance has so many lawsuits that can be bad for BNB like really really bad I think investors are just been cautious No one need the grief 

[poodle63]

I think personally Binance are prepared to take the battle with SEC Yesterday ruling was a clear sign that they are ready for them Also SEC is not willing to cool it so I think it present so sort of twisted scenario for both of them Binance has so many lawsuits that can be bad for BNB like really really bad I think investors are just been cautious No one need the grief 

So much money has been prepared for that. We can only wait and see what kind of action will be taken by binance. I think that we will see binance will be going to the court to face SEC like XRP.

I hope that this problem will be solved as soon as possible.

[Xal0lex]

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.

It may be just beginning. The incident has not had a strong impact because it may not have fully occurred yet. So far we see only some attacks and accusations. If the attacks escalate into active criminal cases, bans and all-out harassment, the market may react in the most unimaginable way. I believe that right now the conflict has not yet died down and, things are still to come and the worst may await us within a year or so.

[WalkerIVIV]

and its just the beginning, i wonder how much the lawsuit will affect the market in the long run, it seemed that everyone attention are around the lawsuit that
every gesture caused market to make movement in which affect the price greatly.

[kesmex]

and its just the beginning, i wonder how much the lawsuit will affect the market in the long run, it seemed that everyone attention are around the lawsuit that
every gesture caused market to make movement in which affect the price greatly.

We can't blame news from the SEC for causing a dump on the crypto market,
because this is a bear market so all bad news that comes will cause a dump, we can't avoid it, so make sure to monitor what's going on,
maybe you can monitor it on Twitter because whatever always appears there is the fastest.

[Kemarit]

and its just the beginning, i wonder how much the lawsuit will affect the market in the long run, it seemed that everyone attention are around the lawsuit that
every gesture caused market to make movement in which affect the price greatly.

We can't blame news from the SEC for causing a dump on the crypto market,
because this is a bear market so all bad news that comes will cause a dump, we can't avoid it, so make sure to monitor what's going on,
maybe you can monitor it on Twitter because whatever always appears there is the fastest.

What if they don't sue Coinbase or Binance? What do you think the price will be? It's a after effect of what they did that's why the altcoin market is suffering right now. Of course, we are in a bear market and we can't stop people from selling or not buying. But if we have this kind of uncertainty and attack on the whole crypto market is general, the price is going to suffer just like what we are seeing right now.

Just in the last 4 hours though, I still have to look as to what reasons the market is going down again. For example Bitcoin is going to hit it's support level of $25k, wherein prior to that, the price is trading above it and even $26,000 for sometime.

[Wiwo]

The lawsuit has affected the general cryptocurrency market and caused the price of most coins to crash with a drop in their price significantly,  but BNB is the most hit by this massive crash and it has been hard for the coin to recover since the drop even though coins like bitcoin is already shown some sign of recovery which is a good start and a show that the crisis is beginning to settle down and binance is already figuring out the way to solve the lawsuit and working towards having a balanced ground with the regulators and complying with all the regulatory framework that allows their smooth operation of the exchange.

What I can suggest right now is for all BNB holders to hold for a long and since the coin is a utility coin, its price will recover.

[Hypnosis00]

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?

It does as people got worried about when they'll take action because many projects had stop from their operation. Now that Binance has an issue with the SEC, many people got in a panic about what will happen next and they are uploading their coins as fast as they can, even selling them at low prices. We can really neglect the huge impact it creates as it directly hits individual's minds especially those who are new in the crypto market as certainly doubts begin and all their positive mindset turns to negative.

[FrozenBit]

It reminds me of previous periods when bitcoin was up and the price was above $50,000, not many people would believe that BNB would go below $300. I remember some friends talking about the FTX crash, and then we also discussed the next thing with BNB and it could drop to under $100 with FUDs. And indeed up to now the issue of SEC and CZ with binance is negatively affecting this market, many people panic because the price falls, they lose in investment, it seems that the general psychology of the crowd is easier to dump more things. but are not alert enough to observe these news, among the risks will also appear opportunities for people to have a longer strategy with the market. For me, over time, binance will still maintain their position, and everything will become peaceful again.

[milewilda]

It reminds me of previous periods when bitcoin was up and the price was above $50,000, not many people would believe that BNB would go below $300. I remember some friends talking about the FTX crash, and then we also discussed the next thing with BNB and it could drop to under $100 with FUDs. And indeed up to now the issue of SEC and CZ with binance is negatively affecting this market, many people panic because the price falls, they lose in investment, it seems that the general psychology of the crowd is easier to dump more things. but are not alert enough to observe these news, among the risks will also appear opportunities for people to have a longer strategy with the market. For me, over time, binance will still maintain their position, and everything will become peaceful again.

We should really be making ourselves that realize that a market could really be having that bullish or bearish cycle which means that we could really be having that uprising movement but doesnt mean that it wouldnt really be having the opposite movement which is correction and extreme decrease of its price. This is why we should really be wise on making up some decisions whether we do sell or buy on particular moments but of course
there are people who are really that going for long term on which means that they dont really care if the market would really be pumping or dumping as long they could be able to accumulate coins on their bags
then that what matter the most.

About fundamentals whether exchange hacks or regulation news and other similar things then it isnt really that shocking that this market is really that highly reactive into these sentiments but somewhat its
not really all the time that reactive because there are moments on which it doesnt really care at all no matter how good or bad the news is.

[Bolivar_Tony]

t's understandable to feel concerned about the current market situation and the impact of the SEC lawsuit on Binance and BNB. The sharp decline in BNB's price and the labeling of multiple altcoins as securities indeed raises uncertainty. The future of BNB and the broader crypto market depends on the outcome of the lawsuit and potential settlements.

While it's challenging to predict the exact course of events, it's important to remember that the crypto industry has faced regulatory challenges before and has shown resilience. Governments are working to establish regulations in this evolving space, but it's not necessarily a sign of winning or losing a "war" against cryptocurrencies.

As an investor, it's advisable to closely follow the developments, exercise caution, and make informed decisions based on thorough research. The crypto market is known for its volatility, and it's crucial to be prepared for various scenarios while keeping emotions in check.