Binance Wins Legal Battle in Florida, BNB Price Soars

In a significant victory for Binance, the world’s largest cryptocurrency exchange, a Florida court has ruled against a permanent ban imposed by the state’s financial regulators. The decision comes amidst a period of legal challenges for Binance in several jurisdictions.

BNB Price Nears All-Time High

Coinciding with this legal win, Binance’s native token, BNB, has exhibited a surge in price, riding the wave of a broader market uptrend. BNB’s current trading price sits at $620, near its all-time high of $686 set in 2021.

BNB Smart Chain Bridge Exploit Partially Recovered

However, recent security concerns have tempered the positive sentiment. Over $3.9 million worth of cryptocurrency was exploited from the BNB Smart Chain bridge in May. While Alex Labs, the developer behind the bridge, managed to freeze a portion of the stolen funds with the help of centralized exchanges, a significant amount remains unaccounted for.

US House Approves Landmark Crypto Bill

In a separate development, the U.S. House of Representatives has overwhelmingly passed the Financial Innovation and Technology for the 21st Century Act, marking a major step towards establishing regulations for digital asset markets. The bill now heads to the Senate, where its future remains uncertain.