{"id":101617,"date":"2024-11-27T10:01:20","date_gmt":"2024-11-27T14:01:20","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=101617"},"modified":"2024-11-27T10:59:33","modified_gmt":"2024-11-27T14:59:33","slug":"court-grants-secs-request-amid-binance-lawsuit","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/court-grants-secs-request-amid-binance-lawsuit\/","title":{"rendered":"US Court Grants SEC’s Request Amid Case Dismissal in Binance Lawsuit"},"content":{"rendered":"\n

A district court has granted the U.S. Securities and Exchange Commission's<\/a> (SEC) petition to file an omnibus brief in response to the lawsuit dismissal in the Binance lawsuit. <\/p>\n\n\n\n

\"US
US Court Grants SEC's Request Amid Case Dismissal in Binance Lawsuit<\/figcaption><\/figure>\n\n\n\n

Binance, Changpeng Zhao, and Binance US submitted the motion in response to their petitions to dismiss the amended complaint. The court's decision regarding the complaint's dismissal is still pending.<\/p>\n\n\n\n

The US SEC can extend the briefing period in the Binance lawsuit<\/h2>\n\n\n\n

The US SEC had requested permission to exceed the typical page limit under local rules, citing the complexity of the motions, which entail multiple legal arguments. Judge Amy Jackson consented to the request, which permits the SEC to submit a combined response of at most 70 pages. <\/p>\n\n\n\n

As per the district court filing, this extension provides the SEC with supplementary space to resolve the legal issues both sets of defendants raised in the ongoing Binance lawsuit.<\/p>\n\n\n\n

Binance Holdings Limited, Changpeng Zhao, and BAM Trading Services Inc\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. have filed dismissal motions that are null and void. <\/p>\n\n\n\n

The defendants submitted distinct petitions in early November to dismiss the SEC's amended complaint. Binance contended that the legal arguments in the SEC's collective 90-page submissions overlapped.<\/p>\n\n\n\n

Nevertheless, the SEC announced that it would compile all responses into a single document to facilitate judicial efficiency and prevent duplication across multiple filings. The SEC can now provide a combined response following the court order, although Local Rule 7(e) allows 45 pages per response brief.<\/p>\n\n\n\n

The SEC is required to submit a response by December 4. Binance and BAM stated they do not object to the SEC's request. The U.S. District Court issued a scheduling order last month that extended the Binance lawsuit until 2026.<\/p>\n\n\n\n

BNB Coin on the brink of achieving a new all-time high<\/h2>\n\n\n\n

Binance's native BNB Coin has not exhibited significant movement due to the recent order in the lawsuit. However, the rest of the crypto market has experienced a significant surge in response to Donald Trump's victory. Nevertheless, the bulls in BNB are maintaining their position at the critical support level of $600.<\/p>\n\n\n\n

At the time of publication, the BNB price is $620, representing a 1.5% decline, and its market capitalization has fallen below $90 billion. However, BNB reversed the trajectory after retesting the support at $600 earlier today, suggesting that the path ahead could lead to a new all-time high.<\/p>\n\n\n\n

\n

$BNB<\/use><\/svg><\/span><\/a> giving great risk reward on this re-test. LONG. pic.twitter.com\/HUFNlJrOtl<\/use><\/svg><\/span><\/a><\/p>— \ud835\ude4b\ud835\ude3c\ud835\ude49\ud835\ude44\ud835\ude3e (@panicselling) November 27, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

The open interest in BNB derivatives<\/a> remains unchanged at $911 million, while the volume of options trading increased by 47% to $1.15 million. Additionally, Coinglass data indicates that the BNB long liquidations have exceeded $2.16 million during the most recent pullback.<\/p>\n","protected":false},"excerpt":{"rendered":"

A district court has granted the U.S. Securities and Exchange Commission’s (SEC) petition to file an omnibus brief in response to the lawsuit dismissal in the Binance lawsuit. Binance, Changpeng Zhao, and Binance US submitted the motion in response to their petitions to dismiss the amended complaint. The court’s decision regarding the complaint’s dismissal is […]<\/p>\n","protected":false},"author":12,"featured_media":101623,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[834],"tags":[23114,326,1727,4288],"class_list":["post-101617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-binance","tag-bam-trading","tag-binance","tag-lawsuit","tag-us-sec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/binance-sec.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=101617"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101617\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/101623"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=101617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=101617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=101617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}