Binance: Lawsuit, layoffs, and price corrections galore – will BNB recover?
The domino effect of the lawsuit
When the news of the SEC going after Binance first hit the market, BNB faced a major price correction.
However, that was only the first of many troubles that Binance would have to face.
The Binance lawsuit saga continues
According to recent data, a Nevada-based legal entity named Eeon filed a motion to intervene on behalf of customers, as detailed in a filing with the District Court for the District of Columbia. The petitioner argued that both the SEC and Binance attorneys had represented their own interests and had not made any efforts to advocate on behalf of the customers.
The show must go on
Despite all the ongoing troubles being faced by Binance, the protocol has managed to make progress on various fronts. In an attempt to attract more users, Binance launched a new feature enabling users to obtain multiple deposit addresses for a single network.
How is BNB doing?
At press time, Binance’s token, BNB, had recovered from the price correction brought on by the market’s FUD. However, over the last few days, the price declined from $255 to $248.
