- SEC granted extra 70 pages to address Binance’s dismissal motions in ongoing lawsuit.
- Binance’s BNB coin holds steady as the market faces legal and volatility challenges.
- SEC has consolidated legal arguments to streamline response in Binance lawsuit.
The U.S. District Court has approved the SEC’s motion to submit a 70-page omnibus brief in its ongoing lawsuit against Binance. The approval came after Binance and its related entities sought to dismiss the SEC’s amended complaint. This move highlights the complexity of the case as it involves multiple defendants and intricate legal arguments.
Judge Amy Jackson granted the SEC’s request, acknowledging the need for additional space to address all arguments comprehensively. The consolidated response aims to ensure judicial efficiency while addressing overlapping claims across defendants. The SEC’s response is due by December 4.
SEC Consolidates Arguments Against Binance and BAM Trading
Binance Holdings Ltd., BAM Trading Services Ltd., and Changpeng Zhao had also made similar motions to dismiss the claims by the SEC. These motions claimed redundancy in the SEC’s earlier 90-page submissions. However, the SEC stated it would simplify the process by consolidating its arguments into one document.
Under Local Rule 7(e), responses are usually limited to 45 pages per brief. With the new approval, the SEC can combine its responses into a single document of up to 70 pages. This consolidation will address all legal defenses raised by the defendants while maintaining clarity and coherence.
Binance and BAM Trading Services have indicated they do not oppose the SEC’s request for extended filings. The lawsuit timeline, however, suggests a prolonged legal battle, with proceedings likely stretching into 2026.
BNB Coin Holds Steady Amid Market and Legal Challenges
The legal developments have coincided with fluctuating market performance for Binance’s native cryptocurrency, BNB. Despite broader market surges, BNB has shown minimal upward movement. The coin has recently found critical support at $600, which analysts view as a pivotal level for future gains.
At the moment of reporting, BNB is trading at $620, reflecting a slight decline of 1.5% in 24 hours. However, the coin’s weekly chart shows resilience, with a retest of $600 earlier today sparking renewed optimism. Market analysts predict a potential 150% rally if the broader crypto market momentum continues.
Meanwhile, BNB derivatives show stable open interest at $911 million, with options trading volume increasing by 47% to $1.15 million. Recent data indicates $2.16 million in long liquidations, further underscoring market volatility amid ongoing legal and regulatory scrutiny.
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