In a pivotal ruling, the First District Court of Appeals in Florida has unanimously overturned the permanent ban on Binance, the world's leading cryptocurrency exchange, citing procedural irregularities in the state's financial regulators' actions.
The ban, initiated by the Florida Office of Financial Regulation following former Binance CEO Changpeng Zhao's legal issues, lacked substantial evidence to support claims of imminent danger posed by Zhao's actions. The court's decision deemed the emergency suspension order invalid due to the regulators' failure to establish a clear legal basis for their actions.
While Binance celebrates this legal triumph, Changpeng Zhao, commonly known as CZ, faces personal legal repercussions, including a four-month prison sentence for his involvement in money laundering activities on the exchange. Despite prosecutors seeking a longer sentence, Zhao's agreement to pay substantial fines contributed to a relatively lenient outcome.
Simultaneously, Binance's native token, BNB, has experienced a notable surge, mirroring the broader market uptrend. With a 7% increase in the past week and a 4% gain over the last month, BNB approaches its all-time high (ATH) of $686, recorded during the 2021 bull market.
While BNB's trading volume has dipped recently, the current uptrend suggests potential resistance levels at $621.5 and $633, with support levels at $614 and $605 crucial for maintaining bullish momentum and preventing a downtrend.
The 1-D chart shows BNB’s price trending upwards. Source:BNBUSD on TradingView.com
Binance's legal victory in Florida coupled with BNB's bullish performance reflects a positive outlook for the exchange and its native token. As regulatory challenges persist in other jurisdictions, continued market vigilance remains essential for sustaining upward momentum in BNB's price trajectory.
Binance has not yet decided on its new global headquarters due to complexities like tax laws and talent acquisition challenges. Legal troubles, including Changpeng Zhao's legal issues and a $4.3 billion fine, have led Binance to restructure its leadership and adopt better governance strategies.
WeatherlyBitcoin has reached a new all-time high, surpassing $100,000, while CZ remains unaffected by the surge, holding onto the same amount of Bitcoin. Binance Coin (BNB) also hit a record high, but CZ’s focus remains on Bitcoin’s long-term value rather than its fluctuating price.
WeatherlyIndian authorities uncovered $97 million in unpaid GST from crypto exchanges, with Binance owing $85 million. The government is cracking down on tax evasion, while Binance faces mounting global challenges, including regulatory issues in multiple countries.
WeatherlyCZ’s recent Toy Story meme has sparked speculation about Binance’s future, with many linking it to potential BNB institutional adoption or a BNB-based ETF. Meanwhile, BNB’s price surged to a new all-time high of $776.80, reflecting its growing market influence as altcoins, including BNB, gain momentum.
WeatherlyThe FTX bankruptcy estate claims SBF’s $1.76 billion repurchase deal with Binance in July 2021 was a fraudulent transfer due to FTX’s insolvency. The lawsuit seeks to recover billions for FTX creditors, alleging the transaction was fraudulent.
KikyoFormer Binance CEO, CZ (real name Changpeng), told Bloomberg that he had received multiple offers from buyers who are willing to offer him a high price to buy his shares in Binance.
XingChiBinance and its former CEO, Changpeng Zhao, are pushing to dismiss the SEC’s amended complaint, arguing that the regulator’s approach to crypto lacks clarity and consistency. Binance claims the SEC's broad interpretation of crypto assets as securities is confusing and unfairly applied.
WeatherlyChangpeng Zhao, founder of Binance, made his first public appearance since his prison release at the Binance Blockchain Week in Dubai, discussing his reflections on his incarceration and future plans. He expressed a renewed appreciation for personal connections, a commitment to education, and intentions to invest in emerging sectors while remaining optimistic about the future of cryptocurrency.
JoyFormer Binance CEO CZ's first tweet after his prison release sparked attention, briefly mentioning future plans and enjoying freedom. BNB surged to a monthly high but quickly reversed, declining along with the broader crypto market.
KikyoBinance founder CZ will be released today, 27 September, two days ahead of schedule, due to his release date falling on a weekend. Will this trigger a rise in BNB’s price?
KikyoMeme is a good strategy, a high-end local dog game, and a great general. Under the market, Solana, known as the "chain of downtime", finally, thanks to the unremitting efforts of the local dogs, "came out of the wall" and bravely climbed to new heights.
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MiyukiThe Binance BNB Chain network is about to undergo a hard fork dubbed ZhangHeng which will boost blockchain security among other things.
cryptopotatoThe storage system will use BNB as its native token and will become the third blockchain in the BNB ecosystem that already comprises of BNB Beacon Chain and BNB Smart Chain.
CryptoSlateOKX announced the listing of BNB (BNB/USDT and BNB/USDC) on their spot trading markets.
OthersNansen's research team dives into the BNB Chain's Cross-Chain Bridge exploit and traces the attackers activity.
NansenBased on the price of BNB and the number of blocks generated on BSC during the quarter, the BNB auto-burn mechanism automatically modifies the amount of BNB to be burned.
CointelegraphCoinLoan platform is listing BNB coin as the first step toward integration June 6, 2022, Tallinn: The CoinLoan crypto platform ...
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