美國最高法院駁回上訴，BNB價格暴跌，幣安遭受重大打擊

美國最高法院駁回了交易所巨擘幣安提出的上訴，也辯稱其不受美國證券法約束

The U.S Supreme Court has denied an appeal filed by exchange giant Binance, arguing that it is not subject to U.S securities laws as it does not have a physical headquarters in the country.

美國最高法院駁回了交易所巨頭幣安提出的上訴，稱其不受美國證券法的約束，因為它在美國沒有實體總部。

The denied appeal dealt a major blow to Binance Coin (BNB), which fell to a multi-week low of $660 before bouncing back to trade at $687 at press time.

上訴被駁回對幣安幣 (BNB) 造成重大打擊，幣安幣跌至 660 美元的多周低點，但截至發稿時又反彈至 687 美元。

Details of the case

案件詳情

This petition stemmed from a class action lawsuit that was filed against Binance in 2020. At the time, investors claimed that the exchange offered securities without being registered as a brokerage platform under U.S laws.

該請願源於 2020 年針對幣安提起的集體訴訟。

Binance denied these claims, arguing that it is not a U.S company and not subject to U.S regulations. In March 2022, Binance won the case and U.S District Judge Andrew Carter dismissed the lawsuit.

幣安否認了這些說法，稱其不是美國公司，不受美國監管。 2022 年 3 月，幣安勝訴，美國地區法官安德魯卡特駁回訴訟。

However, in March last year, this lawsuit was revived by the Manhattan Appeals Court. It ruled that despite Binance not having its headquarters in the U.S, it is still subject to securities laws because U.S investors bought tokens from the exchange through U.S servers.

然而，去年3月，這起訴訟被曼哈頓上訴法院重啟。它裁定，儘管幣安總部不在美國，但它仍然受到證券法的約束，因為美國投資者透過美國伺服器從交易所購買代幣。

Binance seeks an appeal

幣安尋求上訴

Binance appealed this decision in December 2024 before the U.S Supreme Court. The exchange claimed that technological innovations made it easier and more efficient for investors to access foreign financial markets. According to Binance,

幣安於 2024 年 12 月向美國最高法院提起上訴。該交易所聲稱，科技創新使投資者更容易、更有效率地進入外國金融市場。據幣安稱，

“Where such opportunities were once reserved for those able to travel abroad, work with international investment firms, or establish offshore entities, the internet has helped afford the same access to investors with fewer resources.”

“這些機會曾經是為那些能夠出國旅行、與國際投資公司合作或建立離岸實體的人保留的，而互聯網則幫助資源較少的投資者獲得了同樣的機會。”

However, the U.S Supreme Court has denied this appeal, upholding the Manhattan Court’s ruling that U.S laws applied to the exchange. As a result of the same, the case will now proceed.

不過，美國最高法院駁回了這項上訴，維持了曼哈頓法院關於美國法律適用於該交易所的裁決。因此，案件現在將繼續進行。

Impact on BNB

對BNB的影響

News of the denied appeal stirred BNB’s price volatility. In fact, data from Coinglass revealed that in just 24 hours, $2M worth of BNB open positions were liquidated, out of which $1.94M were long positions.

上訴被駁回的消息引發了 BNB 的價格波動。事實上，Coinglass 的數據顯示，在短短 24 小時內，價值 200 萬美元的 BNB 未平倉部位被清算，其中 194 萬美元為多頭部位。

As long buyers are forced to sell BNB to close their positions, it exerts downward pressure on the price. Moreover, long traders are no longer willing to maintain their positions following a decline in funding rates.

由於多頭買家被迫出售 BNB 來平倉，這對價格造成了下行壓力。此外，在融資利率下降後，多頭交易者不再願意維持部位。

(Source: Coinglass)

（來源：Coinglass）

At press time, BNB funding rates had flipped negative. This indicated that short traders are willing to pay funding fees to maintain their positions.

截至發稿時，BNB 融資利率已轉為負值。這表明空頭交易者願意支付資金費用來維持頭寸。

Is BNB ready for a recovery?

BNB 準備好復甦了嗎？

At press time, BNB seemed to be under intense selling pressure. For instance – The Chaikin Money Flow (CMF) indicator dropped to the negative zone for the first time in over three weeks.

截至發稿，BNB 似乎面臨巨大的拋售壓力。例如，柴金資金流向（CMF）指標三週多以來首次跌至負值區域。

The Average Directional Index (ADX) metric also tipped north, indicating that the prevailing downtrend has been gaining strength.

平均方向指數（ADX）指標也向北傾斜，顯示當前的下降趨勢正在增強。

(Source: Tradingview)

（來源：Tradingview）

Despite the selling activity, Binance Coin was still trading within a symmetrical triangle pattern. If it makes a bullish breakout from this pattern and flips resistance at the 0.5 Fibonacci level (706), it could invalidate the bearish trends. However, a breakout below the lower trendline could spur a drop towards $510.

儘管有拋售活動，幣安幣仍在對稱三角形模式內交易。如果其看漲突破該模式並翻轉 0.5 斐波那契水平 (706) 的阻力位，則可能會使看跌趨勢失效。然而，突破較低趨勢線可能會導致跌向 510 美元。

One of the factors that could aid a bull run is the incoming leadership change at the US. Securities and Exchange Commission (SEC). Gary Gensler’s resignation as the SEC Chair could bode well for tokens that have previously been targeted by the commission

可能有助於多頭市場的因素之一是美國即將到來的領導層更迭。證券交易委員會（SEC）。加里·詹斯勒 (Gary Gensler) 辭去 SEC 主席職務，對於此前曾被委員會針對的代幣來說可能是個好兆頭