In incredible news, the US SEC said that BUSD was not a security and dropped its investigation against the issuer, Paxos.#Fortunereports.

Let's remember that it was the SEC's attack on this stablecoin and accusations that it was a security that destroyed it. Despite the fact that#BUSDwas No. 3 after#USDTand#USDCin terms of capitalization. And if this attack had not happened, perhaps he would already be No. 2. The asset was the top stablecoin on #Binance. Its wrapped version in#BNBChainallowed, among other things, trading top assets like#BTCon spot without commissions.

Capitalization growth was impressive, but in February 2023 the US Securities and Exchange Commission (SEC) called the asset a security, and the New York Department of Financial Services began investigating #Paxos. Now, apparently, we can say that it “seemed” to them. But the job is done - the asset was squeezed out of the market.

Interestingly, earlier in June, a US judge dismissed charges against Binance and Changpeng Zhao over secondary sales of BNB and Simple Earn. At the same time, the judge allowed the case to continue on a number of other charges from the SEC, including the BNB ICO, staking, and lack of registration. 

There are fewer and fewer complaints about the exchange. And it’s time to remember that in recent months,#BNBhas periodically begun to appear in#Coinsharesreports on institutional purchases.

#Binance itself is also doing well - according to #CryptoQuant, since the start of the#BTCcorrection, the crypto exchange has increased its reserves by 41,000 BTC.