🎈In a significant development for the cryptocurrency industry, the First District Court of Appeals in Florida unanimously overturned a permanent ban on Binance, the world's largest cryptocurrency exchange. According to Bloomberg Law, the court ruled that state financial authorities had breached protocols when issuing an emergency suspension order, which denied Binance the right to operate in the state. The court highlighted that the authorities failed to substantiate their legal claims, particularly regarding Zhao's potential risk.

🎈The court determined that the authorities could not prove that Zhao's activities endangered public health, safety, and welfare, rendering the immediate suspension order unconstitutional. While Binance won this court case, it continues to face regulatory challenges elsewhere. The Alaska banking division recently denied Binance.US's license renewal.

🎈Zhao avoided the three-year jail term sought by federal prosecutors, receiving five months of probation instead, as agreed upon by the defense. The settlement also required Binance to pay $4.3 billion in penalties and forfeitures, with Zhao personally paying a $50 million fine.

🎈Following these events, Binance's native coin, BNB, has shown renewed positive momentum in line with the broader market rise in major cryptocurrencies over the past week. BNB has increased by 4% in the last 30 days and 7% in the past week, currently priced at $620. During the 2021 bull market, BNB reached an all-time high of $686.

🎈Recent trading volume for BNB has decreased by 66%, dropping to $1 billion in the last 24 hours, as reported by CoinGecko. If the upward trend continues, there are a few resistance levels to watch before potentially retesting its ATH. On the BNB/USD 4-hour chart, $621.5 and $633 are the next significant resistance levels. To sustain the rise, BNB bulls should monitor support lines at $614 and $605 to prevent a decline that could reach $600.#Pizzaday #BNB #altcoins #Binance $BNB