Legal proceedings temporarily halted
In a significant legal development, the lawsuit between crypto exchange Binance and the U.S. Securities and Exchange Commission (SEC) has been temporarily paused for 60 days. The decision follows a joint motion filed by both parties on February 10, 2025, in the U.S. District Court for the District of Columbia. The filing cites the establishment of the SEC’s new crypto task force as a key factor that could impact the case’s resolution.
Why the pause?
The crypto task force, initiated by SEC Chairman Mark Uyeda and led by Hester Peirce, aims to reassess digital asset regulations. Both Binance and the SEC have agreed that the task force’s work could provide clarity, potentially leading to an early resolution. By pausing legal proceedings, both parties can conserve resources and avoid unnecessary court battles.
At the end of the 60-day period, both Binance and the SEC will submit a status report to determine if further delays are necessary. The pause also means that Binance’s pending motion to dismiss may no longer be required if the case reaches an early resolution.
Impact on Crypto regulation
The Binance lawsuit is one of the most closely watched crypto legal battles, and its pause signals a potential shift in the SEC’s regulatory approach. According to Fox Business journalist Eleanor Terrett, other crypto-related lawsuits involving Ripple, Coinbase, and Kraken may follow a similar path.
SEC’s Crypto task force: a new approach?
Last week, the SEC’s crypto task force launched an official website, highlighting efforts to create clear guidelines for digital assets. The initiative focuses on balancing innovation with investor protection, working collaboratively with SEC staff and public stakeholders.
What’s next for Binance and the Crypto Industry?
As regulatory discussions evolve, the next 60 days will be critical in shaping the future of crypto-related lawsuits and broader digital asset policies in the U.S. Whether this pause leads to a more favorable resolution for Binance or sets a precedent for other crypto firms, the outcome will have lasting implications for the industry.
Cardano Founder Criticizes USAID for Backing Anti-Bitcoin Narratives
Cardano founder Charles Hoskinson has strongly criticized the United States Agency for International Development (USAID) for allegedly funding a book that links Bitcoin to right-wing extremism. Taking to X (formerly Twitter), Hoskinson called the situation “garbage”, expressing frustration over what he believes to be a misinformation campaign against decentralized technologies.
USAID’s alleged funding of controversial book
Recent WikiLeaks reports claim that USAID provided $80,000 in grants to David Golumbia, the author of Cyberlibertarianism: The Right-Wing Politics of Digital Technology, published by the University of Minnesota Press. The book reportedly links Bitcoin and cyberlibertarianism to far-right ideologies and has been included in course reading lists at USC and Duke University.
Hoskinson, along with other Bitcoin advocates, has rejected these claims, emphasizing that Bitcoin is a decentralized financial system with no political affiliation.
Trump administration’s USAID scrutiny
The controversy emerges amid a funding freeze at USAID following an executive order from the Trump administration. Reports suggest that staff have been placed on leave, with uncertainty surrounding the agency’s future.
Meanwhile, Representative French Hill, chairman of the House Financial Services Committee, has raised concerns about USAID’s spending. Elon Musk’s Department of Government Efficiency (DOGE) is currently reviewing the agency’s budget and operations, while Secretary of State Mike Rubio is expected to influence future funding decisions.
Bitcoin market resilience & policy shifts
Despite the controversy, Bitcoin remains stable, currently trading at $97,327. Analysts believe that Trump Media’s recent trademark filings for a crypto-focused investment product hint at potential policy shifts favoring digital assets.
Shiba Inu Gears Up for Breakout – Is a Surge to $0.00004401 Imminent?
Shiba Inu (SHIB), one of the most popular meme-based cryptocurrencies, is currently consolidating within a tight trading range, signaling a potential breakout. Despite recent price fluctuations, SHIB has stabilized above $0.000015, suggesting a possible reversal as market momentum builds. Analysts believe the token could surge toward $0.00004401, provided bullish momentum continues to strengthen.
Bullish indicators point to potential surge
Technical analysis highlights a falling wedge pattern, a classic bullish formation that often precedes significant price increases. This pattern reinforces expectations that SHIB may soon break out from its consolidation phase. Analysts have set key price targets at $0.00002913, $0.00003612, and $0.00004401, provided the asset successfully overcomes resistance levels.
Currently, SHIB is trading at $0.00001581, reflecting a 0.96% recovery in the past 24 hours. The coin has bounced from its recent low of $0.000014, a critical support level. However, resistance at $0.000018 remains a significant hurdle for further upward movement.
Key support and resistance levels to watch
Shiba Inu’s price consolidation around $0.000015 suggests buyers are attempting to regain control. The asset remains below key resistance levels at $0.000018 and $0.000020, which previously acted as strong support. A breakout above these zones could push the price toward $0.000025 in the near term.
The Moving Average Convergence Divergence (MACD) indicator suggests a potential shift in momentum. While the MACD line is currently below the signal line, indicating lingering bearish pressure, a bullish crossover could signal a trend reversal.
If SHIB fails to hold above $0.000014, selling pressure could increase, dragging the price toward $0.00001. However, if bullish momentum builds, SHIB may confirm a breakout toward $0.00004401, establishing bullish dominance in the market.
