Trump’s SEC Retreats, TON Falters and Privacy Coins Surge
In today’s cryptocurrency news the U.S. Securities and Exchange Commission (SEC) has dropped its lawsuit against Binance marking a defining moment in what many are calling the "Trump crypto pivot." Meanwhile, technical hiccups at The Open Network (TON) which continue to show the growing pains of high throughput blockchains and layer 1 tokens and privacy coins like Flare (FLR), Monero (XMR), and Zcash (ZEC) are riding a bullish wave. Welcome to the latest chapter in crypto's rollercoaster 2025.
SEC Drops Binance Case
On May 30, 2025 the SEC voluntarily dismissed its high profile civil case against Binance and its founder Changpeng Zhao. Originally filed in June 2023, the lawsuit accused Binance of manipulating trading volumes, diverting customer funds, and failing to register certain tokens as securities. While Binance previously paid a massive USD 4.32 billion criminal penalty in a separate case and Zhao served a short sentence, this SEC withdrawal is seen as part of a broader deregulation trend.
The Trump administration’s influence here is unmistakable. Trump campaigned on becoming the “crypto president,” and since returning to office, his appointee, SEC Chairman Paul Atkins, has pulled back from the aggressive enforcement stance taken under Gary Gensler. This includes dismissing a separate suit against Coinbase and pausing multiple regulatory crackdowns.
Binance called the dismissal a “landmark moment” that recognizes innovation’s need for regulatory clarity rather than punishment. While some critics warn this could embolden bad actors, others see it as a much-needed step toward fostering crypto innovation on U.S. soil.
Ton Blockchain Continues to Have Problems
While regulatory news was bullish, the technology side revealed persistent fragility. The Open Network (TON) experienced a 40 minute halt in block production on June 1 due to a masterchain dispatch queue error. Developers quickly patched the issue, and no user funds were lost but the incident echoes deeper concerns.
This isn’t TON’s first stumble. In August 2024, the network halted twice in two days as DOGS memecoin mania clogged the system. These recurring outages cast doubt on TON’s ability to support large scale, high speed applications especially concerning given Telegram’s reliance on the TON ecosystem for its mini-app platform.
Yet, institutional backing remains strong. In March 2025, TON secured a $400 million funding round led by Sequoia Capital and Draper Associates. Projects like Notcoin are trying to revive the network's image by focusing on real gameplay rather than speculation.
The challenge for TON and similarly complex layer-1 chains like Solana and Sui is balancing speed with reliability. As validator logic becomes more intricate, occasional hiccups may be the price of pushing the boundaries of blockchain throughput.
Flare, Monero, and Zcash Lead the Market with Technical Breakouts
While macro-regulatory and infrastructure news played out, market sentiment turned bullish—especially for layer 1 and privacy tokens.
Flare (FLR)
FLR surged nearly 10% following an announcement of a new partnership with Uphold to unlock XRP-based DeFi services through FAssets. The token broke above its multi-month resistance trendline and traded around $0.0199, with eyes on a $0.0225 price target.
Technical indicators confirm the breakout: the MACD is nearing a bullish crossover and the 200-day EMA was successfully breached. If momentum holds, a run to $0.030—last seen in January—could be within reach.
Monero (XMR)
Privacy token Monero climbed 7% in a single day to hit $344, signaling a trend reversal with a textbook morning star pattern on the charts. Backed by strong support at its 50-day EMA and a healthy RSI of 51, XMR looks poised for a potential move toward the $365 resistance zone.
As surveillance concerns remain a major topic in Web3, Monero’s privacy focus continues to attract believers, especially in a regulatory environment that could soon favor self-custody and confidentiality.
Zcash (ZEC)
Zcash joined the rally, jumping over 10% in two days to reach $52.73. Traders are eyeing a breakout above the $56 resistance zone, which could trigger a momentum push toward $65.
With a bullish RSI at 62 and a favorable crossover between the 100- and 200-day EMAs, ZEC’s short-term outlook appears strong. If this rally holds, it could signal renewed interest in privacy coins as an asset class, especially given the regulatory retreat on enforcing security classifications.
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Posted Using INLEO