SEC drops suit against Binance

Catch up quick: The SEC and Binance filed a joint stipulation with the court to dismiss the case against both the company and its founder Changpeng Zhao, originally filed in 2023.

• Binance and Zhao previously pled guilty in November 2023 as part of a $4.3 billion settlement involving U.S. criminal and civil charges.
• The SEC, which had charged both at the time with a number of securities violations, did not join that settlement.

Context: The SEC had largely signaled its intention to drop the case back in February when it asked the court for a 60-day stay.