The United States Securities and Exchange Commission (SEC) voluntarily dismissed the lawsuit against Binance, Binance U.S., and cofounder Changpeng Zhao (CZ) on May 29, 2025. According to court filings in the U.S. District Court for the District of Columbia, the dismissal was finalized through a joint stipulation signed by lawyers from both sides.
CZ affirmed the move and highlighted that the two-year legal battle is over. The U.S. SEC, under former Chair Gary Gensler, argued that Binance facilitated the trading of unregistered crypto tokens led by Solana (SOL), Filecoin (FIL), and Cardano (ADA), among others.
Earlier this year, Binance and the SEC had filed a 60-day pause on the lawsuit. Following the confirmation of the new SEC Chair Paul Atkins, the agency has moved ahead to dismiss several crypto cases started by its predecessors.
Implications of the Binance Lawsuit Dismissal
The dismissal of the Binance lawsuit is a major victory for the wider crypto market, which suffered immense attacks in the previous government. As Coinpedia reported, U.S. Vice President JD Vance reiterated the Trump administration’s commitment to support the welfare of the cryptocurrency industry and the wider web3 space.
Following the announcement, BNB price recorded a mild rebound to trade at about $680 at the time of this writing. As Coinpedia previously reported, BNB price has been forming a bullish continuation pattern, with a high chance of entering price discovery soon.
In the four-hour timeframe, BNB price has formed an ascending triangle following a retest of the bullish breakout from the falling logarithmic trend established earlier this year. A consistent close above the resistance level around $691 will trigger a rally beyond $700 in the coming weeks.
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