In a move that feels like the end of an era, the Securities and Exchange Commission has officially dropped its lawsuit against Binance and founder Changpeng Zhao. The Binance lawsuit was one of the last major battles left from the government’s earlier crackdown on crypto, and now it’s over. Just like that.
How We Got Here
Back in 2023, the SEC came out swinging. They accused Binance of all kinds of shady behavior, things like faking trading volume, letting Americans use platforms they weren’t supposed to, and offering crypto tokens that the agency said should have been registered as securities. On top of that, they said the company was mixing up customer funds in ways that could put people’s money at risk.
🚨NEW: The @SECGov and @binance have filed a joint stipulation seeking a dismissal in the agency’s ongoing litigation against the exchange. pic.twitter.com/CiNNbi6WeX
— Eleanor Terrett (@EleanorTerrett) May 29, 2025
It wasn’t Binance’s only headache. The Department of Justice also came knocking, and it led to a massive $4.3 billion settlement. CZ stepped down as CEO, paid a $50 million fine, and agreed to some pretty strict conditions, but he kept control of the company. So while the SEC case was still alive, a lot had already gone down.
Lawsuit? What Lawsuit?
Fast forward to May 29, 2025, and the SEC suddenly decided to end the whole thing. The agency filed a motion to dismiss the case “with prejudice,” which is legal speak for “we’re not coming back to this.” The filing didn’t offer much in terms of explanation, just that the SEC made the call after reviewing everything.
It’s a quiet ending for a very loud case. No fireworks, no courtroom drama, just a legal document that says, in effect, “we’re done here.”
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Why It Matters
This isn’t just about Binance. It’s about what kind of future crypto is going to have in the United States. The SEC used to take a very hard stance, go after the biggest players, make examples out of them, and send a message to everyone else. Now, that playbook seems to be going into storage.
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Since Trump returned to the White House, things have been changing. His administration has pushed for clearer rules instead of just hitting companies with lawsuits. SEC Chairman Paul Atkins, who was brought in under Trump, has been much more open to working with the crypto industry rather than trying to shut it down.
And this isn’t the first case to disappear. The SEC also dropped its suit against Coinbase earlier this year. So this is starting to look like a pattern.
So What Now?
For Binance, this clears a major roadblock. The company still has some work to do to rebuild trust, but legally, this is a huge weight off their shoulders.
For the crypto space in general, this feels like the pressure’s finally easing up. Whether you’re a developer, investor, or just someone curious about crypto, the message is simple: the storm might be over. Now it’s time to figure out what comes next, hopefully with a little less drama.
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Key Takeaways
The SEC has officially dropped its lawsuit against Binance and CEO Changpeng Zhao, ending one of crypto’s most high-profile legal battles.
The case involved serious allegations, including manipulation of trading volume, misuse of customer funds, and offering unregistered securities.
The decision to dismiss the case follows Binance’s prior $4.3 billion DOJ settlement and CZ’s resignation as CEO in 2023.
Under Trump’s administration, the SEC has softened its stance, favoring cooperation over confrontation with crypto companies.
This is the second major case dropped in 2025, suggesting a broader rollback of aggressive crypto enforcement in the U.S.
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