SEC Drops Binance Crypto Lawsuit

CRYPTO
SEC Drops Binance Crypto Lawsuit

The Securities and Exchange Commission and Binance, the world’s largest crypto exchange, have agreed to end their high-profile legal battle, one of the most pivotal cases in U.S. crypto regulation. In a joint filing submitted to a New York federal court, both parties requested the dismissal of the lawsuit.

The case, which began in 2023 under the Biden administration, alleged that Binance allowed U.S. users access to its offshore exchange, mishandled customer funds, and offered unregistered securities. It was part of a broader crackdown on the crypto industry following the FTX collapse.

Under the new pro-crypto stance of the Trump administration, the SEC has reversed course, dropping several major lawsuits. Binance expressed gratitude to officials who supported innovation over regulation by enforcement. In a related move, a Trump-linked crypto firm recently facilitated a $2 billion investment into Binance from Abu Dhabi, signaling growing institutional support.

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ECONOMY
Court Pauses Ruling on Tariffs

A federal appeals court has temporarily stayed a lower court ruling that invalidated much of President Trump’s tariff program, granting the administration time to pursue an appeal. The U.S. Court of Appeals for the Federal Circuit issued the pause while it reviews the administration’s request to delay enforcement during the legal process.

The initial ruling, from the Court of International Trade, blocked Trump’s use of the International Emergency Economic Powers Act to impose retaliatory tariffs. It argued the law doesn’t give presidents unchecked trade powers. Trump officials warned they’d seek emergency relief from the Supreme Court if no stay was granted.

The decision complicates Trump’s tariff-driven trade strategy and may impact current negotiations. Despite the legal setback, the administration vowed to continue pursuing trade barriers through other legal routes. Trump sharply criticized the ruling, calling it a direct attack on presidential authority and national sovereignty.

ECONOMY
U.S.-China Trade Talks Stalled

U.S.-China trade negotiations have hit a pause, with Treasury Secretary Scott Bessent saying progress has stalled and direct talks between President Trump and President Xi may be necessary. Bessent, in a Fox News interview, noted ongoing diplomatic efforts and suggested a leader-to-leader call could happen soon.

Last month, both countries agreed in Switzerland to a 90-day pause on tariff increases, but tensions remain. The U.S. continues to push tech export restrictions, while China has not eased limits on rare earth exports as expected.

China’s Ministry of Commerce confirmed continued communication but urged the U.S. to reverse recent actions, including chip controls and visa revocations for Chinese students. Beijing criticized the U.S. moves as ideologically driven.

Despite the recent freeze in progress, Bessent remains optimistic, citing Trump and Xi’s working relationship. Still, analysts believe China will only engage at the top level if reassured against surprises during discussions.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.